Author: Michael Harris
Michael Harris is a professional trader and a top-performing algo trading systems developer. He is the author of 4 best selling books on trading and investing. He is recognized as a thought leader in algorithmic trading system development. Kevin writes the monthly column “Algo Q&A” for “Technical Analysis of Stocks and Commodities” magazine. An aerospace engineer and MBA by background, Davey has been an independent trader and investor for nearly 30 years.
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This book was written with two objectives in mind:
to provide futures traders with specific trading systems, and to provide a methodology to employ these trading systems in systematic trading.
Both of these elements working in synergy required to win in futures trading. An effective trading system puts in place the prospect of profitable trading. In turn, a skilled trader uses a trading methodology to take advantage of this prospect in a way that is appropriate and is consistent with the requirements of the trading system in use. This harmonious cooperation of the trader/system combination will eventually lead to consistent long-term profits. Michael Harris – Short Term Trading with Price Patterns
The global financial system, an important part of which is the futures markets, is a very complex, dynamic process.
Advances in technology have facilitated the rapid flow of funds between investment vehicles that can be located on opposite sides of the globe. It seems difficult for even the most well-educated, well-trained human minds to predict the movement of capital in a way that will lead to systematic gains.
These patterns can easily programmed in the computer and monitored on a daily basis.
Positions may placed either at the close of the day that a pattern formation completed or at the open of the next trading day. A profit target and a stop loss placed immediately, as soon as the position established.