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Description of Marc Rivalland on Swing Trading

The proactive approach to the stock market - don't be a victim - there is something you can do about it.

Swing trading is an approach to the stock market which is concerned less with value (a moveable feast as many have found out), and more with exploiting short-term upswings and downswings in share prices and market indices. Although the ranks of swing traders swell daily, not many traders know that there is a type of chart, a swing chart, which is designed specifically for swing trading.

In this ground-breaking book, Marc Rivalland, author of 'The Trader' column in Investors Chronicle, shows how swing charts can be used to perfect market timing. Moreover, Marc reveals his hitherto secret modifications to Gann swing charts which make them even more effective for stock market traders. W. D. Gann said "a study of swings in active stocks will convince a man that he can make far greater profits in swings than in any other way of trading". With this book, you get Gann and more.

In addition, Marc uses his two decades of experience with point & figure charts to bring to readers an up-to-date and thoroughly modern evaluation of the best point & figure signals to use when trading individual equities. Point & figure is enjoying an enormous resurgence. Readers of this book will discover new insights into this proven and popular 100+year old method of charting share prices.

Marc reveals his proprietary method of integrating swing charts and point & figure charts to further increase the chances of success. There is a chapter on the vital RSI indicator and a chapter devoted solely to those more passively inclined - long-term buy-and-hold investors.

In every case, the best trading tactics are discussed. Each technique is critically examined. The advantages are highlighted but the disadvantages are not glossed over. In all, the reader will receive a uniquely informative evaluation of the best, most disciplined way to approach the markets.

The style of the book is highly practical. Over 100 colour charts of real-life trading situations are used to illustrate the points being made. The charts are carefully annotated, and accompanied by clear and thoughtful commentary. The exact point where buy and sell signals occurred is shown.

'Marc Rivalland on Swing Trading' is THE essential book for stock market investors and traders.

Title Information

ISBN:

9781897597194

Pages:

214 pages

Format:

Paperback

Product Code:

14705

Publisher:

Harriman House

Published:

01/11/2002

Edition:

1st Edition

Press and Industry Reviews

'Marc Rivalland makes a potentially difficulty subject easy to read with great charts and descriptions and lots of examples. The sections on Point & Figure are first class and he so often strikes cords that many a trader will relate to. If you decide to read one new investment book this year, this should be the one!'
David Linton, Updata plc

"Mark Rivalland bring amazing new insight, clarity and refinement to age old Gann swing charts. His methodology of combining Gann swing charts and point and figure charts is consistent with the principle of confluence in technical analysis." - Ashwani Gujral, author of How to Make Money Trading Derivatives

The following comments were all received by Marc Rivalland without being solicited by either him or the publisher:

"I am largely a self taught private investor in equities for 10 years, and turned to the Liffe option market 18 months ago mainly selling calls and puts on about 20 stocks. Whilst I have been on technical analysis courses and read the books, the section on RSI in your book has rung a big bell with me, and I would have saved several thousand if your points had been with me over the last few years. It is the way you prented and RSI concept giving precise examples which helped clarify the importance of this indicator!! Thus I consider the price of your book a bargain. I am thus very motivated to get to grips with the other sections of the book."
P.R.

"The book itself is very accessible and well written."
P.R.

"What has really impressed me with swing is how easy clients find it to understand - one remarked to me that it was "obvious" once pointed out (referring to the underlying psychology of the market)."
E.C.

"I would just like to say thank you for publishing your Swing Trading book and updating your web site with the latest trends. I have found this particularly useful in understanding the concepts outlined in the book, which I have read approximately four times now and is a constant companion."
I.O.

"After several weeks reading you have succeeding in converting me from a LTBH diehard to a person whose quest has become a proficient swing trader over time. Some of the reasons why
- the degree of frankness that permeates your book.
- refreshing omission of investment-environment clich's.
- lucid with select sprinklings of humour
- subjectively now : the lovely, tasteful print, quality of paper and overall feel of the book
How you ever found time to write your book, delivered to its readers with panache, I do not know. You deserve success from it."
S.G.

"I have read your book a few weeks ago and it's great, congratulations. It really helps me and changed the way I look to a chart."
P.V.

"Your swing-trading method as outlined in your book, which I admit I rushed through, is exactly the kind of simple, structured approach I am looking for. I got the book on Tuesday, finished it on Friday and now I'm going through it again at a slower pace. I wanted to thank you for the excellent book and the beautifully simple approach that you have outlined."
J.S.

"Just a quick thankyou for your reply re. my queries regarding points & figure box sizes, etc. ,your comments were very helpful. Your methods have nicely captured the recent falls on the FTSE 100 and Dow,which has given me a nice return!! Once again many thanks for the book and your advice.Your methods have already improved my trading drastically and given me a logical and profitable way of trading the markets."
R.S.

"I read Swing Trading over Xmas, and would like to say how much I have enjoyed it. It is very articulately explained, beautifully presented and enjoyable to read. Thanks for writting it; I am going to look very closely at your method. I hope there will be another book soon."
S.Y.

"I am currently over half way through your book on Swing Trading and am enjoying it very much. Apart from the technical aspects I appreciate the clear, concise and sober language used - so refreshing after a year of reading mainly US books which are so often over sensationalised either by the author or publisher."
F.Y.

"Having read your excellent book 3 times, I feel confident enough to try swing trading."
L.E.

"I have invested in shares for many years and with the recent markets found it best to take profits when and if they occur. I have never dealt other than in shares on the long side, however ,after reading your excellent book I would be most interested in your comments regarding use of covered warrants to trade swing charts, in particular the FTSE on the short side."
D.C.

"A very interesting and helpful book."
R.P.

"I thoroughly enjoyed your book, very readable. It's all so plausible, I am absolutely hooked. Congratulations on its publication."
B.H.

"Having recently purchased your book on swing trading I would just like to say - 'absolutely outstanding'. After 3 yrs of studying the main indices and indicators in an attempt to find a successful method of short term trading, and also driving myself half mad in the process, not to mention near bankrupt, I have now glimpsed the light at the end of a very dark tunnel, thanks to your excellent book."
M.D.

"Your book will be my bible... Thanks for sharing your knowledge."
D.H.

Reviews

• Marc Rivalland's new book on Swing Trading is a must read for any active investor who is looking for a systematic way to trade the market. Here David Linton, Chief Executive of Updata plc, explains why. Swing trading is a subject that I had always struggled to fully understand and having heard Marc speak on it couple of times, I was really keen to have his latest book as a reference. What strikes you immediately about the book is the colour charts used throughout as examples. This makes it much easier going than most technical analysis texts and the reader can really grasp the concepts put across. Marc Rivalland is a practicing barrister and is therefore always an entertaining speaker on the subject of investment. He also writes a number of columns in the investment pres and it is clear to the reader from the start that he is also an accomplished journalist. The Preface to the book discusses why one should swing trade. As one should expect from a lawyer the case is fairly compelling. The Introduction to Swing Trading starts with the author's early lessons including the almost mandatory first big mistake that all successful investors go through. This will ring a chord with many readers. Mark goes on step by step to answer a series of more specific questions such as: What is a swing trade?, What is the point of swing trading?, What makes a swing trader?, and Who swing trades? Swing Trading is then looked at in practice with the subjects of short selling, spotting linear phases, the author's approach an the tools one needs. The idea of the 'linear phase' is alluring, if only for its almost planetary connotation. Most charts, particularly of indices will have periods where the angles of descent or ascent were steep. These linear phases involve substantial moves in price over a period of weeks and months. If you can catch these price 'swings', you can in turn make a good deal of money in a relatively short period and then sit out choppy market conditions. Marc then sets out to explain the sort of signals he looks for the beginning of the big swing. This is based on Gann and Dow theory, which thankfully he covers briefly, and shows how he uses bar charts to identify the beginning of a potential linear phase. What is interesting about these bars is that they are colour coded based on whether the high is higher or the low is lower. This can be a little confusing to begin with as many investors are used to seeing bars coded on the basis of the change in close on the previous close. Indeed Marc has configured his Updata Technical Analyst software to code the bars his way. If like me, you find it difficult to see the required pattern of lower lows or higher highs, then relying on software to do the colour coding for you is key. Further more, with a highligter looking for this pattern you could identify stocks that look set to 'swing'. Marc prefers trading index futures to individual equities. He takes a top down approach. In his own words, "I'm a market timer, a top down man - I try to get the market right, then the sector and if you get these tow right, it's difficult to lose money on an individual share". One great aspect about this book is its practical approach. The theory is all very well, but it is the exceptions that matter. As an experienced trader said to me recently, "It all works until you put the trade on". Marc covers all the aspects he encounters in actually doing swing trading. He talks about when to releax the requirement, when to tighten your criteria up. He covers potential problem areas as well as a good section on profit maximisation techniques. Point & Figure Charts Point & Figure is a technique that many traders shy away from. Some say its old fashioned, others don't have the right tools to do it and many, as did I for years, struggle to get their heads around it. There are three excellent chapters in this book on how to use point & figure charts successfully and one on how to combine point & figure with swing charts. Even if you don't intend to become a swing trader, the book is well worth buying for its coverage of point and figure alone. The charts are beautifully clear and the author's explanation means that it will serve any trader using technical analysis as a solid reference. Other indicators are covered such as RSI, moving averages, candlesticks and relative strength. The most import aspect of all of this is that Marc Rivalland actually shows you how he applies all these techniques himself. So many market experts write in a way that says this is how 'you' do it. Here he says this is how I do it and you can do it this way too. It is proof of the techniques by example and more importantly experience. The summary chapter summarises Marc's approach and then covers mistakes to avoid which include; Trying to win losses back, Frustration with sideways market action and Forgetting the Trend is your Friend. Summary Swing Trading is not a book that most investors will rush out and buy, but the fact is they should. Marc Rivalland makes a potentially difficulty subject easy to read with great charts and descriptions and lots of examples. The sections on Point & Figure are first class and he so often strikes cords that many a trader will relate to. If you decide to read one new investment book this year, this should be the one! David Linton, Chief Executive, Updata plc
  R F Gawith

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About Marc Rivalland

After graduating with a Bachelor of Commerce in 1975, Marc Rivalland was employed as a share analyst for one of South Africa's leading merchant banks. At the same time he undertook his Bachelor of Laws degree. In 1979 he emigrated to the UK and worked in the futures industry, first as an analyst and then as an account executive. He was team leader for Conticommodity on the LIFFE floor when it opened in September 1982. After a stint as a floor trader and arbitrageur, Marc was called to the English Bar by the Middle Temple in July 1987. He remains a practising barrister in the Chambers of Edward Faulks QC.

For 2 years Marc wrote educational articles on point & figure charts for London's Evening Standard. He also writes 'The Trader' column for Investors Chronicle, as well as giving seminars on technical analysis.

Contents of Marc Rivalland on Swing Trading

PREFACE
Exploiting swings
Why swing trade?
Swing charts and point & figure charts
Audience
Structure of this book

1. INTRODUCTION
Early lessons
What is a swing trade?
What is the point of swing trading?
What makes a swing trader?
Who swing trades?
Swing trading and charts
The logic underlying the use of charts

2. SWING TRADING IN PRACTICE
Selling short
Normal service
Linear phases and how to spot them
My approach
The tooled up swing trader

3. GANN SWING CHARTS
W.D. Gann's secret
Standard Dow theory compared to Gann
Changes of trend and intermediate swings
Construction of a Gann swing chart

4. MODIFIED SWING CHARTS
Definitions
Faults with the Gann swing chart
Modification 1 - 'Get in Early'
Modification 2 - 'If the third day is an outside day, it is part of the correction'
Modification 3 - 'Relax the requirement for three consecutive days'
Modification 4 - 'Count trading days only'
Buy and sell signals
Change of trend signals
Continuation of trend signals
Problem areas
Tailpiece

5. SWING CHARTING TACTICS
My approach
Profit maximisation techniques
stop losses
setting profit targets
linear phases
Trading all the swings

6. POINT & FIGURE CHARTS
Introduction
Ethos

7. POINT & FIGURE SIGNALS
Introduction
The double top and double bottom
The bullish signal
The bearish signal
The bearish signal reversed
The bullish signal reversed
Triangles
The triple top
The ascending triple top
The spread triple top
The triple top with long tail
The bull trap
The catapult
The triple bottom
The descending triple bottom
The spread triple bottom
The triple bottom with long tail
The long tail down
The high pole
My evaluation
My favourite point & figure signals
- The triple top with rising lows
- The bearish or bullish shakeout
The whipsaw

8. POINT & FIGURE TACTICS
Choose the right security
When to take profits
Reliability of point & figure charts
Tailpiece 1
Tailpiece 2

9. INTEGRATING POINT & FIGURE AND SWING CHARTS
Integrating p&f charts and swing charts when trading indices
Integrating p&f charts and swing charts when trading individual equities
Tailpiece

10. RSI
Explanation of RSI
Weekly RSI
Moving averages
The Coppock Indicator
Bullish Percent charts
Candlesticks
Relative strength

11. TACTICS FOR LTBHs
Limited use of swing charts
Using options and charts to enhance returns
Tailpiece

12. SUMMATION
My approach - a summary
Mistakes to avoid
Final word

Appendices

Glossary

Index