Hit and Run Trading, The Short Term Traders' Bible (M. Gordon Publishing Group)
Hit and Run Trading presents 11 trading
ideas for day and short-term traders.
For each, you get the entry rules and
eight to 10 charts, with examples of the
trade. Exit rules aren’t specified but
stops are, and they are extremely close.
Author Jeff Cooper’s approach is to
ruthlessly eliminate losers, yet the promotional
literature and the book itself
cite winning percentages of 60% or
more. Cooper states his techniques are
the culmination of 15 years of work. No
backtesting is included in the book, so
the results cannot be verified.
To find trading situations, Cooper
recommends screening a large universe
of stocks to get 15 to 25 candidates to
watch each day. This requires software
that can screen average directional index
(ADX), averages, price and new
highs/lows, since doing this manually
would be extremely time-consuming. —STOCKS & COMMODITIES