The Logical Trader

If you're going to trade, you've got to have a plan! In The Logical Trader, Mark Fisher offers up a plan on a silver platter just for you. Fisher has been teaching and developing this plan for over two decades, and you will learn after reading this book that the foundation of his system is pervasive amongst many top traders on the floor. Beyond Mark Fishers base ACD system, he layers on other tools that will help you get in and out of your positions with greater accuracy and confidence.

After a brief introduction, The Logical Trader gets right down to business discussing the ACD system. The beauty of the system is its simplicity, marking moments where market sentiment changes with high probability. Mark Fisher and many others trade this system daily looking at the opening range with its statistical relevance, and applying the system taking note of important components such as volatility, price action, and time. As if the ACD system wasn't enough, Mark Fisher adds a pivot system that works hand in hand, helping you to determine market directions by playing off these magical daily pivot numbers. The ACD system is also broken down to a micro and macro level that builds upon your insight even more.

A passage from the introduction:

"The Logical Trader: Applying a Method to the Madness is based, literally, on my own experience as a trader and the plan that I've used over the years to trade successfully. Moreover, I've taught this methodology over the years to an estimated 4000 people. That includes about 300 of the 500-or-so traders on the floor of the New York Mercantile Exchange (Nymex) where I trade and where my clearing firm, MBF Clearing Corp., operates. (MBF is the largest clearing firm at the Nymex, clearing one out of every five crude oil contracts traded in the world, and one out of every four natural gas futures contracts in the world. See our website at www.mbfcc.com) Plus, our 50-plus proprietary traders have been taught this method to trade both on the floor and in our upstairs offices where we trade energy, individual stocks, and other commodities, using this system. In other words, this method has been extensively tested, adapted, and utilized."

 

I liked Mark Fishers "The Logical Trader" so much, as soon as i finished reading it i started over and read it cover to cover again taking about 20 pages of notes in the process. This book seems recommended by almost everybody I have talked to and I would definitely have to take it up a notch and state that this book is required reading for any up and coming trader. Anyone can benefit from reading this book, whether it be the ACD system, or even one of the countless little tidbits of information inside. You won't be disappointed, read the book!