Opening Price Principle: Best Kept Secret on Wall Street By Larry Pesavento & Peggy MacKay

Name: Opening Price Principle: Best Kept Secret on Wall Street
SKU: 288736bMAdJIX
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SKU: 288736bMAdJIX Category: Trading Strategies Tags: Day Trading Tactics, Larry Pesavento, market entry strategies, Opening Price Principle, opening price strategies, Peggy MacKay, stock market timing, Technical Analysis, Trading Success, Wall Street trading secrets

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Opening Price Principle: Best Kept Secret on Wall Street By Larry Pesavento & Peggy MacKay – Instant Download!

Traders and books go hand in hand—most of us already have a sizable trading library. So why add this one to your shelf? Between us (Larry and Peggy), we have more than 50 years of market experience, and we trade the Opening Price Principle every day. It has both generated profits and protected our capital. We’re sharing it because we’re committed to helping traders learn.

If you want to know how we would explain and demonstrate the Opening Price Principle to someone sitting at our trading desk, this book is for you. Even better, it’s a book you “work” through. We only take students willing to do the work, and that philosophy runs throughout these pages. Learning, gaining experience, and reaching true understanding require your effort.

We also follow the “Keep It Simple” principle. We use plain language, communicate clearly, and focus on the real-world constraints every trader faces today. In short, without actually sitting beside us and watching the Opening Price Principle in action, this book is the closest you can get to that hands-on learning experience.

From the Publisher

There is an amazingly reliable relationship between the opening price and the high/low range for the entire day. This relationship is generally known only to seasoned veterans. This new book from 2 traders with over 50 years combined experience reveals this consistent pattern, illustrates it with many examples, and shows you how to trade profitably using it. If you are a short term trader in EITHER stocks or futures, the knowledge you will gain from this book will give you a tremendous advantage every day for the rest of your trading life!

From the Author

Larry and John Hill of the Commodity Research Institute in Henderson, North Carolina, first met in 1974. Larry was recovering from a large loss in cattle, soybean oil and soybean meal. Like many current traders, Larry had started with nothing and had traded his way up to a great deal of money. Again, similar to many traders today, Larry had confused his success with a bull market and had been unprepared when the bear market finally arrived bringing with it his large loss.Since their first meeting John and Larry have remained good friends and have continued to share numerous trading ideas. In the early 1980’s John and Larry spent two weeks at John’s Hendersonville ranch looking at various ways of trading the markets. One of their best discoveries was a computer study which revealed the principle of Trading in the Direction of the Opening Price or, as we call it now, “The Opening Price Principle.” For those two weeks John and Larry worked with numerous markets, relating the opening price to the price action through the day. Over that period the “Opening Price Principle” revealed itself to John and Larry as an incredibly powerful technical trading tool. Several years later Earl Haddady of the Haddady-Sibbert Corporation published similar statistics in a book called “The Importance of the Opening Price.”

Larry and I are aware of the opening price whether we are day trading or swing trading. However, the “Opening Price Principle” is only one of our trading tools. We have isolated it here for the sake of a more effective learning experience. Once you grasp the principle and have validated it for yourself, it is up to you to integrate it into your trading plan.

About the Author

LARRY PESAVENTO:Larry is a trading mentor and a thirty year veteran of the Chicago Mercantile Exchange. He supervised Drexel-Burnham-Lambert’s Commodity Department in Los Angeles. Larry traded on and off the floor and trained over 200 traders. He is currently a contract trader for a large hedge fund.

Larry seeks to distill and share his thirty years of market experience. His contribution is to teach others the “art and science” of trading. He is the author of six books on trading, and he periodically gives seminars on his pattern recognition style of trading.

PEGGY MAC KAY:

Peggy is an avid student of the capital markets and trading. She holds an MBA degree in Finance and for the past six years has traded her own private account. Prior to striking out on her own, Peggy spent twelve years on the institutional desk of a large Canadian broker. Peggy works closely with Larry Pesavento, sharing her ideas and expertise.

Why is the Opning Price so Important?Even as we approach 24 hour markets, the world still seeks direction for U.S. stocks from the six plus primary hours of the U.S. domestic trading day. From this perspective we are left with 18 hours for observation, analysis, comparison with other domestic markets (Hong Kong, Tokyo, Sydney, London, etc.) and finally for decision making for the next trading day. Decisions are made during these 18 hours which are then effected at the opening of the market. The opening price carries great weight. It is the first opportunity for all the analysis, strategies and tactics formulated over the last 18 hours to be actualized in the market.

Opening Price Principle: Best Kept Secret on Wall Street By Larry Pesavento & Peggy MacKay