Implementing the Ross Hook into your Trading Style
"What you have in this book, dear reader, is a completely integrated trading methodology for the markets. Not one or two pieces of the puzzle, but rather the Big Picture. This allows the majority of you, for the first time, to become the artist rather than the canvas. I firmly believe that Trading the Ross Hook is the best book ever written on the subject of profitably trading."
~ Dr. Bruce W. Roman
Using his discovery of the Ross Hook as the nucleus for his trading approach, Joe Ross goes beyond his admirable chart-reading abilities to include the pivotal, sine qua non of any successful business endeavor, money and trade management. In this book, Joe puts the light over the often-repeated, yet never operationally-defined trading axioms. Most notably these include, “Cut your losses and let your profits run,” and “Trade only with the trend.”
Trading The Ross Hook reveals Joe’s trading approach, which has enabled him to trade with very low risk, often much lower than you can imagine. It's the essence of over 56 years of experience in trading. Most surprising of all this approach, which has kept him very safe in the markets, and has also been unusually profitable year in and year out.
It is with diligent study of the concepts presented in this book, that you will be able to incorporate what Joe shows you and make it a part of your way of trading, fitting in with your own style and comfort level.
Trading The Ross Hook Highlights and the Benefits You Receive:
Identifying the Ross Hook, the Trend and Congestions
You learn exactly what Ross Hooks are and see their origins and what causes them to occur. Joe shows you step-by-step how to correctly identify them as there are several “pointy” places on a chart, but not all of them are Ross Hooks. You will learn why Ross Hooks occur only in trending markets and also the conditions in which a Ross Hook is nullified.
Joe will give you the tools and the set of rules, according to which, you can clearly identify whether you are in a trend or in congestion. You will be amazed by these simple rules that have actually worked long before Joe started trading, and are still working today.
You will learn what the Reversal Ross Hooks are and how they can help you with spotting trend reversals. Joe has been using a method with great success for spotting a trend reversal by using additional filters. He will teach you the method in great detail, and you will learn the three conditions that must be met in order to enter a trade in the opposite direction of the initial trend.
The Traders Trick, Placing Objectives and Stop Loss Stops
In this module you will find out not only the purpose of The Traders Trick Entry and how you can benefit from it but also what made it so famous. The Traders Trick is designed to beat the insiders at their own game, or at the very least to create a level playing field on which you can trade. Trading is a business in which the more knowledgeable have the advantage over the less knowledgeable.
Joe will show you precisely how the insiders take advantage of what they know, but also the way in which you can profit from what they know, and do in the markets. Joe challenges you to think like you were a large operator, and you want to make the market move sufficiently for you to take a fat profit out of it. You will learn how markets are engineered by the market movers.
Once the market nears the high in an up-move, practically everyone wants to be in on this miraculous move, but this might be their most costly mistake. It is also very important to realize what may be happening when a market approaches a Ross Hook after having been in a congestion area for awhile. Joe will teach you the most insightful actions you can take in order to profit from both such situations. All these are illustrated with several charts as examples.
Filtering the Ross Hook in Several Ways
Joe teaches you how to get the overall picture of the markets. You will filter out many intraday trades simply because your view of the market shows you that there are better candidates for a winning trade somewhere else. The work necessary for conservative filtering is in itself a filter that you are going to incorporate in your trading style and routine.
Bottom line, you must select the best of the best trades in order to be successful in the markets. You will learn how to create your checklist that asks specific kinds of questions that prepares you for your trading day. Joe shows you various techniques for filtering, including usage of his famous Envelope but also some of the more popular studies like Stochastic and Bollinger Bands.
Money, Trade and Risk Management
Most traders lump together all these three notions as money management. They are actually separate entities and Joe will teach you how to treat them as such. You need to have a clear trade management strategy to know what kind of entry orders to use and how to place them. You will then learn how to place stop orders, both protective and objective, and your final exit order.
Joe will show you risk management strategies and tactics for covering costs, position sizing, and risk and loss minimization. You will know how to time your trade and what to expect from it. You will not lose more per contract than you can comfortably afford when trading the Ross Hook. You will be able to utilize the Ross Hook for day trading, position trading, swing trading or all three, regardless of the time frame you trade.
Words to the Wise
It is important to be realistic about your trading if you want to have a trading business. Joe emphasizes the importance of being properly capitalized and what exactly that means. Having access to intraday live data is also required but that is not all: you must also accommodate your time and your life style for trading.
Chapter after chapter, and example after example, show you how his students are successfully trading Ross hooks using simple studies that can be found in most trading software packages. Then you see how Joe personally trade hooks, using chart reading, without technical indicators or technical analysis of any kind.
This Book has Become a Classic in the Field of Trading
"This is by far the best book I've read about trading. And I have many books by some of the best known, so-called "experts". The author takes you step by step through a trading methodology called the "Ross Hook". There is no "fluff". Only real life, usable information. I really learned a lot from reading the sections on trade management. What an eye opener! I highly recommend this book to anyone who is tired of all the hype and misleading advertising that is done in this industry, and wants a real trading system to work with. It is very refreshing to read a book on trading that actually shows you, in precise detail, how to trade. Forget about vague and general "rules". You will learn techniques that you can take to the bank!”
~ Mark H.
"The most comprehensive book Joe Ross has ever written. A completely integrated trading methodology for the markets, with the "Ross Hook" discovery as the nucleus for his approach. Gives the "Big Picture," not one or two pieces of the puzzle.”
"This book gives a detailed and accurate method to trade any market and if followed can save much heartache. No fancy mathematical confusion. Just read the pattern and practice seeing the patterns forming. After more than ten years of reading about trading Joe's method distills the very essence of chart reading for practical application."
~ J. Potts, Australia NSW
Trading the Ross Hook Book
Dimensions: H 11 1/4" x W 8 5/8"
365 pages and over 200 illustrations
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