Mastering Trade Selection and Management: Advanced Strategies for Long-Term Profitability

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April 19, 2011


Hardback, 240 pages


0071754989 / 9780071754989


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Main description

Proven Trading Techniques for Lowering Risk and Increasing Profits

In Mastering Trade Selection and Management, market strategist Jay Norris provides proven strategies for generating profits on a consistent basis—under all economic conditions. The secret lies not in predicting the market but rather in carefully managing your trade from beginning to end.

Norris gives you step-by-step instructions for selecting a market to trade, and determining which direction to trade the market, what to look for prior to trading, and when to enter and exit a trade. Mastering Trade Selection and Management takes the guesswork out of trading by showing you how to:

  • Measure the effects employment, government interest-rate policy, and consumer confidence have on a market
  • Determine what levels need to be breached to signal a change of trend
  • Implement a monitoring system to gauge when the current trend is holding or changing
  • Analyze markets down to an intraday level to identify historical support and resistance levels
  • Avoid emotional pitfalls that might lead you to make poor decisions—such as exiting a trade too early or failing to pull the trigger on a trade signal

Norris’s simple five-step system for trading will make you a more consistent and profitable trader. Using the wealth of graphs, charts, and trading examples inside, you can research, set up, and test your trades in order to fine-tune them for the real world. You risk no money and qualify yourself to make more trades that are lucrative.

From planning to execution to exit, the blueprints to the fine art of trading are now in your hands with Mastering Trade Selection and Management.

Table of contents

Preface: Intro - Behavioral Method Defined;PART 1- Market Overview; Chapter 1: Overview - Your Daily Ritual; Chapter 2: Trending & Counter-Trending Markets & Higher Time Frame Confirmation;Chapter 3: Pre-Trade Checklist: Trends Identified & Current Environment Defined; Chapter 4: Wildcards: Retracements on Higher Time Frames & Chart Patterns; Chapter 5: Strength & Weakness Reading - Divergence Between Price and Momentum; Chapter 6: Pre-Trade Checklist Re-visited; Chapter 7: Multiple Time frames; Chapter 8: Overview Order of Operation; PART 2- Set-up; Chapter 9: What is the Set-up?; Chapter 10: Higher time frame confirmation re-visited – Don’t think twice; Chapter 11: Using both Higher & Lower time-frames to focus on Set-up; Chapter 12: Role of Technical Indicators – Price First Momentum Next; PART 3- Fact Based Triggers Defined & Trade Entered; Chapter 13: Change of Direction Defined; Chapter 14: Change of Direction with Trendline Break – No Choice; Chapter 15: Moving Average Triggers; Chapter 16: Technical Indicator confirmation; Chapter 17: Trend Triggers; Chapter 18: Counter-trend Triggers; Chapter 19: Times to pass on Triggers; Chapter 20: Pattern of highs and low; Chapter 21: Momentum; PART 4- Trade Management; Chapter 22: Stop placement; Chapter 23: Price Follow thru and Trade Management; Chapter 24: Sideways price action and Trade Management; Chapter 25: Price Failure and Trade Management; PART 5- Trade Examples; A. Forex Trending Daily; Forex Swing Daily B. Forex Trend intraday; Forex Swing intraday; C. Stocks Daily; D. Stocks Intraday; E. Commodities Daily; F. Commodities Intraday; PART 6- Conclusion

Author comments

Jay Norris is the Chief Market Strategist and host of Live Market Exercise for Clovernest Financial Group in Chicago ( He worked on the trading floor of the Chicago Board of Trade throughout the 1980s and 1990s in various roles before moving to the customer side of the business in 2001. He has published several articles about trading in Technical Analysis of Stocks & Commodities magazine. Norris is the coauthor of Mastering the Currency Market.
Al Gaskill has nearly 40 years of trading experience. He is a founder of and coauthor of Mastering the Currency Market.

Back cover copy

Mastering Trade Selection and Management shows you how to mentally prepare yourself for trading on a daily basis, orient yourself to trade with the trend, and tap into your market intuition. Using Jay Norris’s simple system and easy-to-read charts and graphs, you will stay on point during the process of trade selection and timing—which is the key to properly managing a trade from entry to exit.

This authoritative guide shows you how to successfully trade through back-testing and demo trading before risking real money in the market. Apply Norris’s proven five-step trading method to:

  • Identify the right market to trade
  • Determine which way the market is moving
  • Set an entry and exit price based on quantifiable factors
  • Monitor and manage the trade until you exit

Mastering Trade Selection and Management equips you with effective tools and methods for accurately appraising critical factors affecting a market. Even those out-of-the-blue situations that occur during the trading day can easily be managed with the methods described in this comprehensive guide.

Traders who think they can predict the markets are doomed to fail. Instead, let Mastering Trade Selection and Management show you how to measure a market’s direction and momentum for maximum profit.

Copyright 2013 McGraw-Hill Global Education Holdings, LLC


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