Winning with Wall Street E-Book

Lewis Daniels

• Herausgeber: John Wiley & Sons
• Kategorie: Fachliteratur
• Sprache: Englisch

Seitenzahl: 191

Veröffentlichungsjahr: 2024

Beschreibung

Stop struggling in the markets because of lacklustre advice and find a better approach to trading

In Winning with Wall Street: A Trader's Guide to Financial Freedom, acclaimed independent trader and venture capitalist Lewis Daniels presents a trading guide tailored for those who have explored various trading books without experiencing tangible progress. This concise and insightful book unveils practical strategies and unique perspectives to empower readers in navigating the complexities of the financial markets, regardless if you are trading Bitcoin, Stocks, Forex or any other instrument. Inside, you'll discover:

• Proven strategies to navigate the complexities of financial markets with clarity and precision
• Essential tools and mindset shifts to enhance your trading performance from the comfort of your home
• Techniques to make informed decisions, craft sound strategies, and predict factors influencing securities prices

Written with clarity and precision, Winning with Wall Street will equip traders with the tools and mindset needed to enhance their trading performance and achieve success in the dynamic world of Wall Street from home. Whether you are a novice or a seasoned trader, this book provides actionable insights to elevate your trading game and contribute to your overall trading success.

Leseprobe

Table of Contents

COVER

TABLE OF CONTENTS

TITLE PAGE

COPYRIGHT

DEDICATION

FOREWORD

PREFACE

ACKNOWLEDGEMENTS

INTRODUCTION

CHAPTER 1: RECAP FROM

MASTER THE ART OF TRADING

CHAPTER 2: PSYCHOLOGY

CHAPTER 3: TYPES OF VOLUME

CHAPTER 4: BOTTOM OF THE CHARTS

CHAPTER 5: MARKET MAKERS

CHAPTER 6: END OF NEW YORK BUSINESS DAYS

CHAPTER 7: HOW TO SPOT VOLUME WITHOUT INDICATORS

CHAPTER 8: WYCKOFF

CHAPTER 9: MASTER PATTERNS

CHAPTER 10: VOLUME SHAPES

CHAPTER 11: CONSOLIDATIONS

CHAPTER 12: AUCTION AREAS

CHAPTER 13: INTERESTING AREAS

CHAPTER 14: IMBALANCE

CHAPTER 15: POINT OF CONTROL

CHAPTER 16: ELLIOTT WAVES

CHAPTER 17: FOOTPRINT INDICATOR

CHAPTER 18: LIQUIDITY

CHAPTER 19: SUPPLY AND DEMAND

CHAPTER 20: COMMITMENT OF TRADERS

CHAPTER 21: OBTAINING A BIAS

CHAPTER 22: VOLUME SECRET

CHAPTER 23: CONFIRMATION

CHAPTER 24: JOURNALLING

CHAPTER 25: DELTA (CVD)

CHAPTER 26: DELTA CVD WAVES

CHAPTER 27: PUTTING IT TOGETHER

CHAPTER 28: EXECUTING A TRADE

CHAPTER 29: PROP FIRMS

FURTHER EDUCATION

ABOUT THE AUTHOR

INDEX

END USER LICENSE AGREEMENT

Guide

Cover

Table of Contents

Title Page

Copyright

Dedication

Foreword

Preface

Acknowledgements

Introduction

Begin Reading

Further Education

About the Author

Index

End User License Agreement

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WINNING WITH WALL STREET

A TRADER’S GUIDE TO FINANCIAL FREEDOM

LEWIS DANIELS

This edition first published 2025

© 2025 by Lewis Daniels

All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, except as permitted by law. Advice on how to obtain permission to reuse material from this title is available at http://www.wiley.com/go/permissions.

The right of Lewis Daniels to be identified as the authors of this work has been asserted in accordance with law.

Registered Office(s)John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, USAJohn Wiley & Sons Ltd, The Atrium, Southern Gate, Chichester, West Sussex, PO19 8SQ, UK

Editorial OfficeThe Atrium, Southern Gate, Chichester, West Sussex, PO19 8SQ, UK

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Wiley also publishes its books in a variety of electronic formats and by print-on- demand. Some content that appears in standard print versions of this book may not be available in other formats. Designations used by companies to distinguish their products are often claimed as trademarks. All brand names and product names used in this book are trade names, service marks, trademarks or registered trademarks of their respective owners. The publisher is not associated with any product or vendor mentioned in this book.

Limit of Liability/Disclaimer of WarrantyWhile the publisher and authors have used their best efforts in preparing this work, they make no representations or warranties with respect to the accuracy or completeness of the contents of this work and specifically disclaim all warranties, including without limitation any implied warranties of merchantability or fitness for a particular purpose. No warranty may be created or extended by sales representatives, written sales materials or promotional statements for this work. The fact that an organization, website, or product is referred to in this work as a citation and/or potential source of further information does not mean that the publisher and authors endorse the information or services the organization, website, or product may provide or recommendations it may make. This work is sold with the understanding that the publisher is not engaged in rendering professional services. The advice and strategies contained herein may not be suitable for your situation. You should consult with a specialist where appropriate. Further, readers should be aware that websites listed in this work may have changed or disappeared between when this work was written and when it is read. Neither the publisher nor authors shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages.

Library of Congress Cataloging-in-Publication Data Is Available:

ISBN 9781394285037 (Paperback)ISBN 9781394285051 (ePDF)ISBN 9781394285044 (ePub)

Cover Design: Jon BoylanCover Images: © martinspurny/Getty Images,© Kaspars Grinvalds/Adobe Stock Photos,© mudasar/Adobe Stock PhotosAuthor Photo: Courtesy of Lewis Daniels

For my wife Angharad and my son Zack.Everything I do and continue to do is for you.I love you x

FOREWORD

I’ve always been interested in trading. The glamour of Wall Street seemed captivating to me, but I never thought it was accessible to the public, to the average Joe. I didn’t think you could trade unless you were part of the elite club, working for a bank or physically on the trading floors.

Even if by chance you could get in on the action, I thought Wall Street would take your money, chew you up and spit you out the second you placed a trade! How can you compete with the big boys? The institutions? The money makers?

This book actually helps you do just that! It gives you the means to be on the winning side!

Needless to say, I was amazed to discover my own husband had been trading since the age of 15! How was that possible?

The image of him on his pushbike cycling to his little local bank still makes me laugh, especially when I compare it to nowadays, when he’s placing trades on his phone poolside! The accessibility of trading has evolved no end. Today, anyone can trade if they want; it doesn’t matter how old you are, what profession you have or had, or how much money you do or don’t have. It’s all doable, and even more so when you’re given an insight into how it all fits together.

Knowledge is key.

Without understanding the charts, trading is dangerous and Wall Street will beat you. Managing your risk is paramount! I’m mathematically minded but incredibly emotional! That’s why I’ve been daunted by trading. How could I eliminate the emotion?

The answer is to apply logic and understanding. Statistically speaking, on a simple 3:1 profit ratio, you can be 70% wrong and still walk away winning. This is exciting, and that’s why I’m so impressed with this book. Lewis has made me see trading in a different light. I don’t want to undermine the years of work, dedication and trial and error that have got us to this point (I’ve lived it! Been beside him for the journey) but, after reading this book, it seems—dare I say—‘easy’, or at least achievable! It finally all makes sense. I could trade, too!

It’s evident Lewis has a gift. An incredible talent for understanding the charts and being able to see the levels and patterns they hold with such accuracy. All his Discord members will agree; he has helped so many all over the world transform their trading style and shown them a different viewpoint.

Habit/instinct/practice, call it what you like, it’s clear that he can see what many struggle to grasp.

His calls are repeatedly to the pip; it’s impressive.

Hence, breaking down the logic behind what he sees into simple steps, like he has in this book, enables so many other traders the possibility to be successful.

Thank you for getting his book; I wish you all the best in your trading.

Enjoy what’s to come!

—Angharad Daniels MA

PREFACE

I am Lewis Daniels, better known in the trading community as Mayfair Ventures.

I am also the author of Master the Art of Trading.

Many of you would know me for calling every significant Bitcoin move over the last couple of years with great success. I got lucky with an early entry; watching the transition of an asset class unfold in real time has been amazing.

This image shows each immutable call on Bitcoin.

If you don’t know me or haven’t followed me, you might not know that I have been a trader for a long time; it all started when I was 15, on a school trip to Wall Street from Wales. Looking back, this was a big deal. The history trip was to learn about the 1929 Wall Street Crash.

Going and seeing the exchange in New York was an incredible opportunity. It is also one of the main reasons behind the book’s title. For me, it’s where it all began.

At age 15, I would take my pushbike to the bank and get the branch manager to phone the broker if the prices were near the same as the newspaper I would buy. In other words, purchase yesterday’s prices tomorrow.

As the years passed, I tried my hand at all kinds of tradable instruments, from penny stocks to commodities, blue chips and forex. I bought my first Bitcoin in 2011.

As the internet became a factor, forex became the weapon of choice. It seemed even more exciting and didn’t seem to shut like most 9-to-5 stocks.

In 2012 I set up a forex education business, running in parallel with several other businesses, but I always kept my hand in the trading world.

When the COVID-19 pandemic struck, I picked up trading full time again. There was a new wave of ‘influencers’ on YouTube and other social media platforms. Most have little to no experience yet millions of followers. It seemed so sad that there are enough ways to lose money trading; taking the wrong advice shouldn’t be another one. These people make their money not by calling the market; they advertise a lavish lifestyle and sucker an audience with affiliate links and sign-up bonuses, with the majority of their income coming from YouTube views.

For this reason, I partnered up with Paul Varcoe and launched what is now known as the Mayfair Method, our Discord services—no broker affiliate shilling, just pure education.

In Discord we cover so many different topics but it became clear that by showing my unique method, the reasoning behind what I see and why, so many have benefitted from this different vantage point. Applying simple logic is the key!

My first book, Master the Art of Trading, touched on many aspects in trading but there is so much more we could cover. Hence, Winning with Wall Street gives you the next level.

I delve further into the Mayfair trading method style, although this book is more advanced (if you don’t understand the fundamentals of trading, it will be harder to grasp).

This book takes you on a journey and breaks down the complexity of the charts to make them easier to translate and help you understand what you are looking for to become successful.

Mayfair Method Discord server can be accessed at: https://discord.gg/5t3w47raHe

ACKNOWLEDGEMENTS

I want to thank my wife for all her help with everything; I want to thank our incredible Discord community and most of all, my son Zack, as I wouldn’t be writing books if it wasn’t for him.

I also want to thank my history teacher. In all fairness it’s because of him I began trading, so thank you for that New York trip! The trip that inspired the title.

Thanks to Gemma Valler at Wiley for everything she did to get the book published.

And, finally, to thank my business partner Paul Varcoe. I don’t think I would have gone back into educational content if it wasn’t for him.

INTRODUCTION

In the labyrinthine world of trading, where complexity often reigns supreme, a persistent struggle plagues the minds of traders who have traversed the terrain of countless courses and books.

If you find yourself amidst the disillusioned, having tried various methodologies, absorbed the jargon-laden tomes and waded through opinionated narratives that left you more confused than enlightened, fear not.

This book is not just another addition to the cacophony of trading literature; it is a beacon of clarity in a sea of complexity.

I often see people use 15 indicators on their charts, looking at hundreds of instruments on smaller timeframes—none of these things help you make money!

It is an assumption that the more technical you get, the easier it is to win. Often, it’s more like ‘All the gear, yet no idea’.

If there was a magic Artificial Intelligence tool or bot you could use to automate your trading, making you millions while you sleep, then the world would be empty of doctors, lawyers and accountants. They would all be professional traders!

People often fall prey to the misconception that becoming a professional trader can be achieved swiftly, perhaps by watching a single tutorial or purchasing an automated bot. In contrast, the demanding and rigorous journey of becoming a lawyer entails years of dedicated study and formal education. Why would trading professionally be any different?

In this book, I aim to provide you with comprehensive information on identifying liquidity and leveraging it to your advantage, without requiring an extensive university education.

In my first book, Master the Art of Trading, I covered in-depth details of some trading greats, including Elliott Wave Theory, Wyckoff schematics and Fibonacci techniques.

Winning with Wall Street will now take you behind the scenes….

CHAPTER 1RECAP FROM MASTER THE ART OF TRADING

‘Every battle is won or lost before it’s ever fought.’

—Sun Tzu

https://vocal.media/motivation/quotes-about-fights

In my first book I gave an insightful overview for novice traders through to intermediate, to simplify their trading. I tried to cover everything from psychology to technical analysis and why patience and discipline are critical to becoming a successful trader.

The book covered several techniques and styles of analysis and why combining such tools can create a significant edge. Unfortunately, newer traders are looking for a silver bullet, and any learning seems too much like hard work. But just like many other professions, trading takes time to learn and even longer to master. After more than two decades of studying various trading books and continuously learning, trading and educating others, I’ve consolidated this wealth of knowledge, ensuring that readers can access a comprehensive resource without investing the same significant amount of time.

Understanding risk is the key factor, and developing a bias is crucial. Combining these two elements is paramount to creating a successful risk management technique. Avoid get-rich-quick schemes and influencers who claim the ability to make you rich overnight!

A little common sense, mixed with sound risk management and the techniques taught in the book, will get you on the right path.

Now, take it to the next level!

This is the sole purpose of this second book.

Unfortunately, the majority of people these days treat trading like playing the lottery. People seem to think it’s a strike-it-rich, one-hit type of tool. A doctor doesn’t make it in his field by doing one operation, just like a Formula One driver—you need to keep winning to stay at the top.

In this book I aim to take you from an intermediate to an advanced trader. The book will be enough to keep you profiting from the market again and again.

Trading has evolved into a complex art form, where success demands a comprehensive understanding of market dynamics and precise analytical tools. Volume profiles and footprint analysis are potent methods for gaining unique insights into market behaviour; they can also be combined with the techniques discussed in Master the Art of Trading, from Elliott Wave Theory to Wyckoff analysis. It’s not as simple as knowing the techniques; it is understanding when and where not to use them.

One of the critical factors of volume trading is knowing the participants.

Compared to many other books available, I have no intention of covering the basics here. If you don’t know what a trendline or a moving average is, put this book down and learn from babypips.com, or read my first book, Master the Art of Trading, and then come back and read this one!

When trading using volume techniques, it’s essential to understand the collective actions of market participants. Traders, investors, institutions and algorithms contribute to the constantly shifting market tides. Based on varying strategies, expectations and emotions, their decisions drive price movements.

Volume is a crucial aspect of market data; it represents the number of shares or contracts traded. It acts as a barometer of market activity and intensity, providing valuable insights into the strength and validity of price movements. So understanding volume patterns can help traders anticipate potential shifts in market sentiment.

I have carefully thought and mapped out each chapter here so you can advance quickly into understanding why volume will be helpful and how you can make it the newest addition to your trading strategy. Knowing when to apply volume tools and how to use these techniques, not just on the charts but at the right time, is the most significant factor; most people get this wrong! Many apply volume everywhere, overcomplicating the situation with countless indicators and unnecessary information, making it difficult to decipher the charts. I intend to help you look at a naked chart and instinctively grasp the fundamental message it portrays.

Let’s begin.

CHAPTER 2PSYCHOLOGY

‘I believe in analysis and not forecasting.’

—Nicolas Darvas

https://realtrading.com/trading-blog/analyze-avoid-forecasting/

To be honest, this chapter was an afterthought. But on reading through my manuscript, I found it an essential piece of the puzzle. I could simply refer back to Master the Art of Trading, where I covered psychology in some depth. However, this time it’s different.

You have probably come to this book through a number of channels. One, you know me, follow me or read the first book. Two, you have tried other literature or courses and still struggle.

This will mean you have built up emotions you might not realise, but they are emotions you have accumulated from your frustration over a long period. You think you have a bias towards a particular instrument or a certain indicator you have grown fond of. This causes hidden anxiety and without knowing it, it’s this that starts you on the emotional rollercoaster.

I can also tell you that shaking these emotions is crucial for future performance.

Let me walk you through it.

Let’s say you lose a trade; you start to get angry at yourself and then get angry at the market. This is where you begin to justify your setup—everything from the entry to the stop loss, lot size, etc. You can’t figure out why it went against you.

Then what? Straight after, later that day or even tomorrow, you go into full-scale revenge mode!

You lose again, and this leads to creating a loop of self-criticism.

During winning periods, you feel like your strategy, indicator and instrument of choice are the best thing ever—until they are not.

Let me take this further: you make mistakes you deem silly or little. You then struggle to relax; you have a shorter fuse than usual—you are angry with the world! But it doesn’t stop there; you draw lines on the chart and sit in front of the screen watching the price go from your stop loss seemingly straight to your take profit target!

Am I right? Just a little bit?

I bet you struggle to relax and then experience sleep issues.

You see, these are normal human emotions; we feel them when we lose, if our car has been bumped or a family pet dies. We are human, after all.

Losing money might trigger other emotions you don’t want to admit to. You might feel like a failure, confused (your system worked in the last trade) or afraid of reading social media or talking to family and friends. You feel lost or alone.

Psychology also plays a significant role at the other end of the scale: you win a trade, a second, a third and you feel invincible—until you are not!

How about this one?

If you watch some YouTube videos or read an article, you tend to overconsume data by trying to learn more and more without fully absorbing it or understanding what to take from it.

I could go and write an entire book on trading psychology. I’ve been there, done that and bought the T-shirt, as they say. You have to go back to basics, almost unlearn what you have learned, from indicators to emotions. As a trader, you must practically become robotic when executing your strategy. In other words, take the feelings away.

I can safely say that.