High-Impact Day Trading

Basicly, this is a trend following system. It's designed to hang on to winning trades as long as possible and to dump losing trades quickly. It's similar to a trend breakout system, execept that you control, with two input values, when a valid breakout and a trend begins. It has money management logic built into it. I have created a Tradestation program based on this system which I use to automatically execute trades in Diamonds, Spiders, and E-minis. It's a robust system, works with any security, and is very profitable when the market are trending.

VERY HELPFULL BOOK FOR THE NOVICE. QUICK DELIVERY

a good book offering a new insight into day trading all commodities. i have successfully input his strategy into a tradestation 2000i program. if interested email me at [email protected] for details.

Robert Barnes examines various trend detection systems in addition to counter trend oscillators. After discussing their positive and negative virtues, he introduces his "mountain/valley trend theory" as the best of both worlds. The system is very similar to Jim Sibbet's NYFE system where entry occurs after a qualified peak or valley. Barnes tests various markets to find optimized qualifiers. His comments on the markets are very interesting and worth the price of the book alone.

Robert Barnes is regarded as one of the most prolific creators and testors of trading systems in the future markets. He has written several books on technical analysis, including the recent TRADING IN CHOPPY MARKETS, a thorough and detailed text. Although his own record as a trader is not common knowledge, the man seems to know his stuff. His HIGH-IMPACT DAY TRADING, accordingly, is a decent book that nevertheless cannot be considered among his best works. Barnes's theory in this book is that the effective day trader needs to find large trends in order to maximize capital while keeping transaction costs to a minimum. After reviewing the possibility, albeit limited, of using indicators such as moving averages and oscillators in day trading, Barnes offers an approach which he calls the "Mountain/Valley Trend Theory." This theory can be classified as trend-following. As usual in his books, Barnes provides illustrations and charts to clarify his techniques; he also shows how the Mountain/Valley Trend approach can be applied to individual futures markets. This book, in short, is centered on the description and defense of a particular trading technique; it is not, as some might suspect, a comprehensive guide to short-term trading. Readers should be aware that Barnes's writing style is sometimes plodding; it does not match up with that of Jack Schwager and other writers on futures trading. Moreover, it might be difficult to set up Barnes's Mountain/Valley Trend on some artifical intelligence system such as Trade Station. Readers nevertheless should be impressed at the thoroughness of his documentation: although past results are not necessarily predictive, the author does present a good case for the viability of his trading system. Even readers who are not planning to employ Barnes's techniques should read this book, for there are enough ideas in this book to inspire those interested in designing their own technical trading systems.