1 author picked The Three Skills of Top Trading as one of their favorite books. Why do they recommend it?
Rubén Villahermosa
Author
Professor Hank Pruden's book covers a more holistic perspective as he develops elements of system building, pattern recognition, and mental state discipline.
In the technical section he teaches us key concepts of the Wyckoff Method such as the protocolization of the development of accumulation and distribution structures through phases, a fundamental contribution to the Wyckoffian community.
Want books like The Three Skills of Top Trading?
Our community of 11,000+ authors has personally recommended 54 books like The Three Skills of Top Trading.
Browse books like The Three Skills of Top Trading
5 book lists we think you will like!
Interested in speculation, stock trading, and behavioral economics?
11,000+ authors have recommended their favorite books and what they love about them. Browse their picks for the best books about speculation, stock trading, and behavioral economics.
The following is a post by Stephen Burns, who is a trend follower that specializes in the Darvas System and can be found on .
The Three Skills of Top Trading: Behavioral Systems Building, Pattern Recognition, and Mental State Management by Hank Pruden shows how traders must learn to combine three crucial skills in the markets to become a top trader.
Pattern Recognition and Discretionary Trading
The author uses the Wyckoff method to show chart representations of how hot stocks are accumulated in bases for long periods of time, eventually have pull backs, and then break out to new highs. You will learn to recognize the patterns of how they eventually have exhaustion tops that fail to rally and they begin to break down as sellers rush in to distribute their holdings.
The patterns in this book will be nothing new for traders who have studied William O’Neil and the Investor’s Business Daily methodology of trading winning stocks, but reinforcement is always a good thing. The author encourages traders to use discretionary trading to profit from the markets repeating patterns of accumulation and distribution, however chart reading experience is required to be able to identify market action through the past models.
Behavioral Finance and Systems Building.
By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy. You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email.
Dr. Henry O. Pruden [Hank] [1936–2017] earned his B.S. degree from Chico State, an MBA from the University of California, Berkeley, and a PhD [with Honors] from the University of Oregon. In 1993, Hank became a full-time faculty member in the Ageno School of Business at Golden Gate University in San Francisco. Prior to joining the GGU faculty as an adjunct in 1976, Dr. Pruden taught marketing and related business subjects in various universities in the United States and abroad, principally at the University of Texas at Austin, where he held a tenured position.
Dr. Pruden pioneered the nationally prominent, graduate Technical Analysis program designed to enhance the professional capabilities of traders, advisers, portfolio managers, and brokers in stocks, bonds, derivatives, and commodities, teaching the latest in investor psychology and behavioral finance as well as the classic techniques of R.D. Wyckoff and of Edwards and Magee.
An active scholar as well as an active trader, Dr. Pruden was the Editor of the Market Technicians Association Journal, a Board member and recent member of the Technical Securities Analyst Association of San Francisco, and past regular lecturer at investment seminars around the world. Hank developed the ‘Action Sequence’ method of active learning and wrote ‘The Three Skills of Top Trading’.
Dr. Pruden served as a GGU Trustee from 1982-1993. He was a Board member and past President of the Technical Securities Analysts Association of San Francisco, executive director of the Institute of Technical Market Analysis, vice chair of the Internantional Federation of Technical Analysts and a board member of the Market Technicians Association.
The Three Skills of Top Trading: Behavioral Systems Building, Pattern Recognition, and Mental State Management
Praise for The Three Skills of Top Trading
"Professor Pruden's new book, The Three Skills of Top Trading, is unquestionably the best book on a specific trading method and the necessary attributes for trading that I have read. His logic, understanding of human foibles, and use of the Wyckoff method of trading are broadly referenced, readable, understandable, and entertaining." - Charles D. Kirkpatrick, II, CMT, coauthor of
Technical The Complete Resource for Financial Market Technicians, Editor of the Journal of Technical Analysis, and board member of the Market Technicians Association
"At long last, someone has taken the time and effort to bring the work and insight of Wyckoff to wider public attention-and Hank Pruden has done so masterfully, with great clarity and eloquence. Hank has taken the best of Wyckoff's work, combining it with the essential aspects of trader discipline and psychology, to provide a highly readable and particularly useful guide to trading. MUST READING!" - Jacob Bernstein, www.trade-futures.com
"Hank Pruden puts all of the elements needed for successful trading into one volume. This book not only belongs on every trader's shelf but should be close enough for continuous reference." - Martin J. Pring, President, www.Pring.com
"Dr. Pruden has brought together his lifetime of work in developing a modern approach to analyzing and trading the markets built upon classic market analysis from the early part of the twentieth century and topped off with modern-day tenets of behavioral finance and mental state management." - Thom Hartle, Director of Marketing for CQG, Inc. [www.cqg.com]
"I usually consider a book to be well worth reading if it gives me one paradigm shift. I believe that this book will give the average investor a lot more than just one." - Van K. Tharp, PhD, President, Van Tharp Institute
304 pages, Hardcover
First published April 6, 2007
About the author
Ratings & Reviews
Friends & Following
Community Reviews
Displaying 1 - 3 of 3 reviews
112 reviews
June 12, 2021
Words on top of other words, with zero idea in the text or any practical application of the information.
March 11, 2019
Interesting book. Has a scholarly style. Used dated neuroscience background but is somewhat classic in nature . Often mentions Drawing from the Right Side of the Brain which is a book on drawing and art having exercises that force one to use the right side or intuitive side of one's brain. The intro to that book makes this all the more valuable.
What are the three skills of top trading?
Three Skills of Top Trading : Behavorial Systems Building, Pattern Recognition, and Mental State Management.nullThe Three Skills of Top Trading: Behavioral Systems Building ...www.abebooks.com › plpnull
How do you master trading skills?
Rule 1: Always Use a Trading Plan..
Rule 2: Treat Trading Like a Business..
Rule 3: Use Technology to Your Advantage..
Rule 4: Protect Your Trading Capital..
Rule 5: Become a Student of the Markets..
Rule 6: Risk Only What You Can Afford to Lose..
Rule 7: Develop a Methodology Based on Facts..
Rule 8: Always Use a Stop Loss..