The Three Skills of Top Trading

This book gives the trader, the investor, and the analyst a true competitive
advantage in the challenging markets of the twenty-first century.
Today, there are powerful agitations in the United States and globally
to shift responsibility for investing onto the shoulders of the individual.
But, just as responsibility moves away from corporations and the government,
the individual faces conflicting advice as to how to manage financial
investments. The efficient market hypothesis is riddled with false assumptions
that lead to wrong results. Equally mistaken are brokers who advise
their clients to buy and hold. The real behavior of markets, what the data
show in numerous markets over many time frames, is that “Market ‘timing’
matters greatly. Big gains and losses concentrate into small packages of
time.” (Benoit B. Mandelbrot)
Some of the most successful traders are the ones who got their market
timing right. Take, for example, George Soros, who during two months in
1992 profited about $2 billion by betting against the British pound sterling.
Although few traders are in the same league as George Soros, most can
profit from market moves concentrated in time.
This book aims to equip the trader with a balanced set of skills for capturing
the “packages of time” that make for big gain opportunities in the market.
It will also help the trader sidestep the timing pitfalls stemming from
superficial data analysis and erroneous interpretations of market indicators…. ….

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