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After mentioning the Ross Hook in my Silver analysis, I have had some
private inquiries about what is a Ross Hook. Here's the story: Back in
1993 I spent $175 to purchase the book, "Trading The Ross Hook," by Joe
Ross. It's 356 pages long. I read it immediately, but was unable to grasp
how to integrate it into my trading. I read it again in the summer of 1995
and although I appreciated it more then ever, I still did not implement any
trading based on it. A few months ago I read it a third time. Bingo!
I highly recommend the book and the technique. But it's taken me four
years and three readings and a whole lot of back testing and analysis to
appreciate the utility and simplicity of the technique. To spend a few
sentences here describing the mechanics of the Ross Hook would do an
injustice to both Joe Ross and his trading technique. However, all is not
lost. Without getting into too much detail or specifics, I can provide the
general idea behind the method and if anyone wants to follow up, they can
find Joe Ross and buy the book.
"Up trends are defined by series of higher highs and higher lows and Down
trends are defined by a series of lower lows and lower highs."
Well, that's it. I'm not try to be cute or coy here (although I might be
both), but you can take this "observation" along with my previous post and
a Silver chart and figure out all you need to know. But remember, in 356
pages, there may be $175 worth of nuances.
Allan
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