The Universal Tactics of Successful Trend Trading: Finding Opportunity in Uncertainty

Compared with The Universal Principles of Successful Trading, which has a more holistic and theoretical approach to discussing the process of the trading that follows a number of immutable core principles, this is a more practical, how-to guidebook on trend trading where the author attempts to take the principles he has shared regarding methodology and apply them in a practical manner to investigate, review and develop a robust trend trading methodology. In combination with UPST, this book has the potential to transform a losing trader into a long-term sustainable winning one.

With a focus on methodology, the book begins by outlining how difficult it is for traders to succeed and discusses a number of key messages covering knowledge, risks, application and execution. It discusses the appeal of trend trading and why any trader should seriously consider it as a technique. It also offers an outline of why trends exist and the reasons why so many fail at it, and examines the different trend trading strategies to demonstrate the various techniques that exist and the importance of measuring strategy performance on a risk-adjusted basis. The book includes a toolkit that traders can use to help them in reviewing, developing and selecting strategies to trade, and concludes with an example of using the toolkit to develop a sensible and sustainable trading strategy.

BRENT PENFOLD is a full-time trader, author, educator and advisor. He began his career in 1983 as an institutional dealer with Bank America and today specializes in trading global forex, index and commodity markets. He is the author of two Wiley books, The Universal Principles of Successful Trading (2010) and Trading the SPI (2005). Brent publishes daily newsletters for active futures traders and is a popular and sought-after international speaker.