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Millard on Channel Analysis: The Key to Share Price Prediction
Harriman House Publishing, December 2009, Pages: 232
Brian J. Millard uses channel analysis to determine how certain share price cycles, made up of both random movement and predictable cyclical movement, should behave in the near future, giving the investor a powerful prediction tool.
A considerable proportion of price movement is random and as such, investors cannot achieve 100% success in predicting price movement. However, cycles are present in share price data, and channel analysis can be used to determine their position.
Channel analysis enables investors to:
- Rapidly scan a pool of 50-100 shares for new opportunities
- Identify the start and end of trends only a few days after the event
- Use one of three stop-loss methods as added insurance against extreme random movements
The author also discusses how probability analysis allows the investor to attain a better estimation of channel turning points, leading to greater profit potential. 'Millard on Channel Analysis' is an invaluable guide for any investor who wants to make money by looking at share price cycles.
1. Buy and Hold?
2. The Nature of Share Price Movement
3. Trends in Share Prices
4. Isolating Trends from Complex Movement
5. Predicting Future Movement
6. The Cycles Present in Share Price Data
7. The Relationship between Moving Averages and Channels
8. Turning Points in Share Averages
9. Maintaining a Pool of Shares
10. Staying Disciplined
Brian J. Millard’s background was as a scientist, and until 1980 he was a senior lecturer at the University of London, publishing over seventy scientific papers.
He later became interested in the work of J.M. Hurst on cycles and channels in the stock market and as this interest grew, spent time carrying out research in this field. Following his landmark book 'Stocks and Shares Simplified', published in 1980, Brian wrote a further five books on the application of scientific methods to the stock market.
His books on channel analysis are now universally recognised as taking forward the
work of J.M. Hurst to a higher level by analysing price movement and especially the occurrence of predictable cycles in market data. Brian also published software to enable traders to apply his methods.