Book Description
Get the bestselling guide to trading systems, now updated for the 21st century.
For more than two decades, futures traders have turned to the classic
Trading Systems and Methods for complete information about the latest, most successful indicators, programs, algorithms, and systems. Perry Kaufman, a leading futures expert highly respected for his years of experience in research and trading, has thoroughly updated this bestselling guide, adding more systems, more methods, and extensive risk analysis to keep this the most comprehensive and instructional book on trading systems today. His detailed, hands-on manual offers a complete analysis, using a systematic approach with in-depth explanations of each technique. This edition also includes a CD-ROM that contains the TradeStation EasyLanguage program, Excel spreadsheets, and Fortran programs that appear in the book.
Customer Reviews:
Excellent material in 4th edition.......2007-05-12
Similar to many traders who own Perry Kaufman's 3rd edition of New Trading Systems and Methods, I ignored the publication of the 4th edition. Well, such oversight was my loss. Even a quick perusal of the work reveals a wealth of new ideas, techniques, and concepts. Kaufman offers ample inspiration for exploring trading problems in a new light.
Kaufman's encyclopedic coverage is unique. The 3rd edition contains 700 plus dense, fast paced material. The current edition adds another 500 pages of new and revised material. Each topic is examined with care; Kaufman has an ability to focus on the key concepts and omit the fluff. His presentation assumes a sophisticated, intelligent reader with solid software development, testing, and trading skills. Sloppy readers, clumsy testers, undisciplined `traders' will complain that this is not a `trading war stories book'--such complaints are correct; this is a trading SYSTEMS and METHODS handbook.
The book binding has a problem. At 1,200 pages, the adhesive binding is falling apart. This book requires either sewn through or over-sewn type binding. Shame on John Wiley for such embarrassing production quality!
Might interest a mathematician.......2007-04-28
I've only gotten about a third to halfway thru the book as I can't see what the author's purpose is, whether laboring thru the rest would benefit me or not. It reads like a college level textbook of the mathematics behind technical analysis. Boring. In what I read, the author worked thru proof formulas to get to more elaborate indicators. In so doing, sometimes he explained what his formula's symbols meant and sometimes not. I sure don't want to go back thru the book to see if I can find an earlier description of what the symbols mean should I ever want to use one of the new formulas. Then he compared some of the new trend followers like standard deviation against olders ones like moving average and point and figure and behold none are really better than the others. When I get stranded on a tropical isle and am bored to tears, I will page thru the rest of it.
The only book I can depend on for clear system trading information........2007-01-27
After buying a large number of highly recommended trading books (including the books referred to in these reviews), this is the only book that I can depend on to clearly explain in technical detail almost any aspect of system trading that I need information on. This book is well written, comprehensive, and approaches subjects in an objective manner. It doesn't tell you how to trade, but clearly describes the different system trading strategies and indicators, their advantages and disadvantages, and practical considerations. This is a must for those developing rule based and automated trading systems.
What more could you ask for in a book???.......2006-10-02
Trading is serious business, although you wouldn't think so, considering the way many people approach it.
The fundamental truth about all types of markets is that the minority gets the money, and keeps it. Of course, there will be times where the market trends strongly in one direction (usually up), and the masses confuse a bull market for brains. But those who are serious about earning profits, and keeping them, need to develop a method or philosophy to separate their thoughts and actions to act independently from the crowd.
If there were college level courses in financial speculation, Kauffman's book would be the required text. All sorts of twists on trend following, counter trend strategies, technical indicators, statistical methods, as well as various charting techniques, are all described. I should also add, the book comes with a CD that enables you to test various methods described in the book using Excel spreadsheets. The spreadsheets are already set up, you just need to input the data.
Some reviewers say that all of the methods are "bad." I'd disagree. This book is a valuable reference, and when you understand the logic of what has come before, you can adapt it to current market conditions. There are a surprisingly large, but finite, number of ways to slice and dice market data. But there are an infinite number of ways to combine a few them into a robust trading system.
Solid technical analysis book.......2006-08-02
This book is worth the money. The author presents solid explanations on the use of technical indicators and statistical calculations of the market. He guides you step by step in order to understand the specific applications and use of technical analysis and use of mathematical calculations applied to the financial markets. The depth of research and examples is very broad and extensive, plus the examples of the actual programming code in order to create your own trading systems is very helpful. Recommended by MTA to complete the CMT course.
Customer Reviews:
Good Introductory Text.......2005-01-07
This book is a rigorous introduction on various technical analysis concepts. It does not waste the readers' time on unnecessary formalization like many college text books. Most of the information provided in the book are equally applicable to stocks, indices, etc. not just commodities as the name of the book suggests.
Topics covered - basic charting, standard indicator calculations, to concepts like trading system design and comparison. Information on each topic are rich and in detail. Some college mathematics background is needed if you would like to understand the details of the calculations and analysis.
One weakness in the book is that very little time is spent on intraday data analysis. It makes perfect sense because the original edition was written well before intraday trading (include daytrading) enters the mainstream media.
In summary, this book is very well written and is a must read for traders who are interested in learning what technical analysis is all about.
Best fundamental systems building book I've seen!.......1998-06-14
Only book that covered "Island and Continent" 3-D graphs analysis (I use TradeStation 4.0's optimization results and export the results file to Excel creating a table of profits, ROA's, Max-drawdowns, ect then graph them out in multicollored 3-d graphs).No one else (to my knowledge) has emphasized the importance of looking for stablity in parameters that are used in systems analysis. I'd never trust a system unless I saw big wide continents in both Profits and Returns on Account minimum....What good is a system unless you know that that the parameter's you're using really work...that they're not out of standard deviation and surounding param's also work! This will give the user ability to see what parameter or inputs not only make profits but where the safest and stable sets of parameters exist.Give me robust systems only please. Can't wait for his new book to come out.
Amazon.com
The emergence of the Internet along with the increased volatility of the financial markets have combined to fuel an explosive growth in the interest and practice of day trading. So it should surprise no one that there's a parallel explosion in the number of books about day trading. Jake Bernstein, who has been involved in the futures industry as an author and trader for some 30 years, adds The Compleat Day Trader to this cadre. It offers a solid introduction to day trading and evaluates various techniques and strategies, including moving averages, intraday application of stochastics, support and resistance, gaps, and scalping. Bernstein spends several chapters discussing trading psychology, and he sees successful traders as developing a balance between technique and "art." He writes:
My experiences as a trader have led me to the conclusion that successful day trading is built upon a unique foundation combining art and science. If pressed to "guesstimate" as to the proper mix of both qualities, I'd say that approximately 70 percent of successful day trading consists of technique or science and 30 percent skill and/or art. This, however, would be a misleading statement inasmuch as both elements are symbiotic; without one, the other would be ineffective. The successful day trader combines both elements synergistically to produce profits, consistency and longevity.
As he does in the sequel to this book, The Compleat Day Trader II, Bernstein shows an obvious preference to futures trading, but many of the techniques described should apply to other markets as well. --Harry C. Edwards
Book Description
One of the best introductions to the "art" of day trading, Jake Bernstein's best-selling The Compleat Day Trader covers everything from getting started to understanding the intricacies of market analysis to tying it all together in a winning strategy.
Customer Reviews:
To much technical stuff. Needs practical ideas.......2005-05-11
The book is good if you want to depend on technical strategies to make money day trading.
The stock market is always presenting us with trading opportunities that don't neccesarily have to do anything with technical analisys.
As a day trader your homework is all about studying and testing different market strategies that will help you take advantage of stocks and at the same time protect your investments. Just always keep in mind that a good strategy is simple and practical. Complicated technical systems will always make you slow in your decision making process or confuse you right from the start.
There are very good sites on the web where you can access practical trading strategies that are easy to implement. One of those sites is Stress Free Traders ( StressFreeTraders com)
They focus on short term day trading strategies that can help you pick and approach momentum stocks while reducing your trading risk.
All in all, day trading is all about picking the best stock opportunities and deciding when to buy and when to sell with ease and simplicity. Once you learn to master your trading decisions, you can aspire to obtain consistent profitable results.
A COMPLETE WASTE.......2003-09-16
Take my word for it and save your money, the techniques in this book simply do not work!
A professional trader writes 25 books?.......2000-10-09
Trading especially short term trading need great concentration and a full-time commitment. Professional traders write few or no book.
Mr. Bernstein's books and articles are everywhere. Sometimes I came across his publications, I scanned through a few pages to see what he had to say about trading. Mr. Bernstein makes statements which are generally safe and easy to say. For example, I read his article the other day. He tells the readers "Do your homework.", "The trend is your friend." etc. Of course, these are the common rules for traders. But what are the concrete steps to implement these rules in the real-life situation? Well, I could hardly find any. On the other hand, he stated in that article: "...I maintain that a good trader can make any system works." I found this statement unprofessional and phony. The reasons:
1. Many systems on the market are just trash and can not be used at all.
2. Good traders wouldn't pick up any system and risk their money with it. Good traders are very selective and only trade a few systems that have proven record and are suitable for their individual styles.
I found similar problems in other works by Mr. Bernstein. Should I bother to buy this book? No, thanks.
I have read books from many different writers and have more than 10 year active trading experience. So I know something.
A few tips(IMO) for choosing good books on trading:
1. Only a small percentage of books on the market are good or great.
2. Popular books are not necessary good books. If you automatically think so, you've probably fallen into "Herd mentality" thinking.
3. Trading is a bottom line business. Find books written by traders who had proven long-term(5 year or more) successful trading records. They are the ones "know how".
4. Be wary of the authors who write many trading books.
Good luck.
For hardcore day traders, and straight to the point.......2000-10-08
Most books for "day traders" are so general that their techniques and advice can be successfully used by swing-traders (those who keep stocks for several days), and even by longer-term investors. This one is different. The author, Jake Bernstein, strongly advocates real day trading, when no securities ever kept overnight. Therefore, his techniques are usable for very short term trading only.
The advantage of this book is that it has very little general rhetoric and comes straight to the point, that is to the techniques which the author finds profitable. Basically, 90% of the book is about the use of technical indicators (such as various moving averages and oscillators) to determine potentially profitable entry and exit points. The topics discussed in particular detailed manner are the use of moving averages, stochastic indicator, moving average channel (MAC), relative strength index (RSI), momentum, and techniques for trading of opening gaps. The author also suggests several oscillators of his own. However, despite the simplicity of these indicators, one has to own software such as Omega Research Trade Station to calculate and plot these home-made oscillators in real time, or write a program yourself. There are also several chapters applicable to futures only (actually, the whole book is about trading in the futures market, but 95% of techniques are equally applicable to stocks).
The great advantage of the book is that it is very specific, clearly illustrated, and gives plenty of detailed technical advice and a number of potentially profitable trading techniques. Be advised, however, that those who are interested in trading but do not have enough capital to take profits from half-a-tick changes (and I, too, belong to this group) cannot really take advantage of this book. No trend and no trade longer than a few hours is discussed there! Therefore, this book is for the serious day traders, and only for them. If you are a day trader, this book is a must; if you are not, do not bother buying it but rather consider other options, e.g., the excellent book "How to get started in electronic day trading" by D.S.Nassar which is good for traders on any time frame.
Very informative & and packed with helpful information.......2000-08-14
One of the most difficult things involving the markets, regardless of what you trade is timing.With this book, Jake not only gives you suggestions for timing indicators, but he also gives you some strategies to follow and shows real time examples which are clear and very detailed. In this book, Jake share his extensive knowledge about systems, strategies, technical indicators, and trading systems. I have purchased many trading books and this one is CRITICAL for your success as a trader. One more point that I wish for potential traders to consider is the source. Jake Bernstein has been involved in commodities and futures trading for 25 years. He brings real trading experience to the table. He does not promise you guaranteed results are a "pot of gold" under the rainbow. What he does give you is the information that you will need to be successful, REGARDLESS of the time frame you are trading. Also, he is available for you. I recently e-mailed him with a question from the book and I received a detailed explanation from him the very next day! I challenge you to find any author who will do that! Good luck and good trading!
Book Description
Every trader will appreciate this reliable, realistic, and systematic approach to trading financial and commodity markets. In a step-by-step manner, the author applies a rigorous mathematical discipline to finanical speculation and explain how to analyze markets, forecast price movements, develop trading strategies, and manage trading capital. Kase also unveils several highly sophisticated indicators that are far more precise than conventional technical indicators. Unlike most books on trading, Trading with the Odds contains complete coverage of money management, including the author's own ``Kase Dev-Stop,'' a highly calibrated money management tool. Trading with the Odds also includes: Uses and abuses of conventional technical analysis; New technical indicators for analyzing markets and entering trades.
Customer Reviews:
excellent twist on momentum concept.......2007-10-22
I sensed that she has tremendous amount of trading experience. Simply put, she knows what she is talking about. Along with, not in particular order, Constance Brown, Linda Bradford Raschke, and Robin Mesch, Cynthia Kase once again proves that lady traders are as good as,if not better than, gentlemen traders. Job well done, Ms. Kase.
Keith J. Chung
Identity theft revisited.......2006-03-24
Below is a review of this book by a "Ron Davis" who styles himself as "a proud member of the Market Technicians Association." Bzzzt! I am the only current or past Ron Davis in the Market Technicians Association. Interestingly enough, I also have a successful real estate practice. Quite the coincidence -- makes one wonder.
The "RD" below finds the book to be without substance. Perhaps what one sees depends, in part, on what one brings to the book. I quite agree with the reviewers who say this is not a book for beginners. I had a couple of "aha" moments reading the book, one about Kase DevStops (I'd better have yet another look at those) and one about one of my own proprietary indicators. A few minutes of programming and, by golly, I was able to derive a bit more useful information from my own gadget.
What's this book good for? (1)A trading methodology or (2)ideas about ideas. I'll not broach (1) -- the book does that. I have already mentioned two things that jumped out at me. I also want to take a look at her variation on Elliot Wave counting and targeting. And, on a second read, I may find other things I'd like to fiddle with a bit.
Criticisms: My criticisms fall into two categories (1)purist mathematics nit-picking (I am a mathematician by training) and (2) my laziness/the book's lack of complete exposition. The mathematical nitpicking is not relevant except to a mathematician: for instance, the number of random distributions which are not Gaussian/Normal are at least an order of infinity larger than the number of Gaussian distributions. Should the person who is reading to learn of trading care? I wouldn't think so. My Laziness/the book's incomplete exposition: What? I really have to turn on my brain and think through how to implement the ideas? No cookbook approach here? Of course, if one were being rational, not lazy, one could point out the advantage to having to think: one might actually learn what it is one is doing. And, one might even think up a new idea, heaven forfend.
In conclusion, not only do I resent the attempted identity theft by the person below, but I especially resent being represented as such an empty-headed fool that I cannot see the considerable value in this book.
The REAL Ron Davis, CMT, MAI, MA
Trading with the odds.......2006-03-17
Book was quite expensive. $55 for 143 pages. I found some of the graph illustrations difficult to follow since the printing was so bad. Requires many readings to get the full jist of what the author is saying. Overall, I found the book and concepts interesting.
My first post.......2006-01-13
It is amazing how we humans all have our own agendas. Someone founf this book 'useless', some found it exciting...that's all fair...I found it revolutionary (read the post before this one). One fellow bloats his ego and describes how he is a great technician. I'd like to see how his finances compare to Cynthia Kase; as a trader. The proof is in the pudding....
This is a revolutionary book and there are very few out there!
(however, I noticed esignal's add for Kase Statware states 95% successful is predicting market turns...rubbish!)
Still that's a differnet subject, isn't it!
Original and real work to read.......2005-12-06
Cynthia Kase thinks about trading in a different way from most people. She's terrific but you need both brains and some conceptual understanding of statistics to "get" this book.
Just to take an example, I have never heard anyone else explain that risk is proportional to the square root of time (or tick) interval: lower your time span, lower your risk. If that kind of thinking excites you, you're at the right place.
Book Description
For more than two decades, futures traders have turned to the classic Trading Systems and Methods for complete information about the latest, most successful indicators, programs, algorithms, and systems. Perry Kaufman, a leading futures expert highly respected for his years of experience in research and trading, has thoroughly rewritten and updated his bestselling guide, which remains the most comprehensive and instructional book on trading systems today. This detailed, hands-on manual offers a thorough analysis, using a systematic approach and explanation of each method of calculation or operation.
Trading Systems and Methods continues to be the single best resource for the trader or market analyst who wants to create or choose a successful trading system.
Customer Reviews:
A must have for me.......2005-03-17
This book exposes the reader to many concepts necessary to stay in the trading game. The information is well organized and presented well. It can be "a read" but would be better pursued as a study. That means thinking through the formulas presented, getting a grip on statistics and its interpretations (all in the book).
This is a book useful for system trading (which I do) and might even have an idea or two for the discretionary trader. To point an accusatory "what stupid book" finger at Kaufman for pointing out not so readily accepted ideas (i.e. moon phase, etc.) is plain silly. There are some obsolete parts, like old computer code, but the remaining 600 pages are great.
I wish I would have discovered this book years ago (but maybe, I would have "not gotten it" then). It is definitely one of my must have (and often consulted) books in my trading library.
Mine is filled with bookmarks.......2004-10-13
Going more for breadth than depth, "Trading Systems and Methods" hits an enormous number of approaches for building a mechanical trading system. Many (some would say all) of these technical analysis approaches are obviously utter rubbish (anyone who has seen "Pi" can chuckle along with me at the section about Fibonacci Ratios), but the shear volume of techniques outlined make this a particularly good title for people new to trading systems development. The included computer code isn't particularly useful because of both its simplicity and its reliance on TradeStation features.
If you're looking for a survey of mechanical, technical trading techniques with enough detail for a jumping off point to inspire further research, this provides that on a large scale and with commendably wide coverage. I found it most helpful to identify which wheels I was busy reinventing when doing my own system development, outside of that context it doesn't have quite as much utility.
Useless.......2004-08-11
This is a bizzar of prorietary code (TradeStation Language), and 20 yrs old fortran code at the Appendix. I am wondering who will be using this code? Lot of spaghetti Mathematics which is neither simple focussing on concepts , nor deep enough to understant the mathematical details that's very poorly presented. In chapter 8 about uncovering cycles, after all the poorly written mathematical stuff, there is no mention on how to use the uncovered cycles in trading which is much more important than running after sines and cosines ...although I am a Computer Engineer with mathematical background , I got lost...
I am forced to read this book as a reading material for CMT2 certificate , however I consider it a very badly written book with no real focus neither elegant mathematical details nor usable code nor Trading concepts
Good for reference, but read wtih skepticism.......2004-06-26
There was plenty to learn in this book and overall it offers much reasonable advice. However, it also packs a large portion of bizarre and obviously silly content, such as the phase-of-the-moon and the "Jupiter-Saturn cycle" trading systems mentioned in other reviews. Still, I find even this bit useful as a reminder of the danger of being lured in by a trading system based on numerology instead of relevant data. It's nice to remember that the reason analysts compute the 14-day and 28-day moving averages are because these are half and a full moon's cycle, respectively. Of course, these became popular even though they refer to trading days instead of Earth days (what? doesn't the moon phase stop progressing over the weekend too??)
My other complaint is the use of proprietary "Easy Language" code samples; this would be fine if it included an appendix on Easy Language syntax, but this is conspicuously missing... and would have been more useful than the secion of the book titled "Financial Astrology" or the appendix on constructing a pentagon with straightedge and compass (I'm not kidding).
Suprisingly, I did find the discussion of solar eclipses informative from an astronomy viewpoint.
Overall, even with the negatives, I enjoyed the other reference material.... just figure out which chapters to tear out of the book before reading.
The One.......2004-05-19
If you can only buy one book on trading systems OR want to free up space on your bookshelf... buy this book, it's really the only reference you need.
Book Description
Designed by well-known author and trader Curtis Arnold, and Pattern Probability System has received rave reviews since its introduction in 1989. Futures Truth Inc., an independent auditing firm, ranked PPS the number one trading software in 1992, with a return of 168%, and Super Trader Almanac selected PPS as ``Trading Methodology of the Year,'' Indeed, the PPS Trading System might justifiably be called the most acclaimed futures trading system in the world.
Customer Reviews:
FYI.......2003-11-29
I would check out what the Commodity Futures Trading Commission had to report before you purchase the book. I am making no claims on the effectiveness of the system, but it appears the CFTC states some of the advertised claims are inaccurate. If you search for Curtis Aronld on the web, you should run across the document that I did on the CFTC's web site.
Simple but feasible trading system.......1998-06-28
Simple and easy trend seeking method for even a beginner. But if you are already a sophisticated chartist or finding some more exciting speculation method, this one will not be for you since it is talking only about the traditional pattern break out and moving average method. However, in the medium to long trend seeking investments, there are always that 'simple is the best.'
Solid technical analysis tool for futures trading........1998-05-13
Very good technical analysis tool for commodities futures. Exposes some of the common technical patters that are used,such as double tops and bottoms, head and shoulders,etc. Should be one of the books in your library for futures trading.
Average customer rating:
- elementary, but competent
- "exceptional book covering the technical gamut"-Tom DeMark
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Handbook of Technical Analysis: A Comprehensive Guide to Analytical Methods, Trading Systems and Technical Indicators
Manufacturer: McGraw-Hill Companies
ProductGroup: Book
Binding: Hardcover
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ASIN: 1557385971 |
Book Description
Featuring contributions from the top minds in trading. The Handbook of Technical Analysis provides in-depth, up-to-date coverage of every major aspect of technical analysis. It includes Jack Schwager on the uses and abuses of technical analysis; Robert Prechter on Elliott Wave; J. Welles Wilder on RSI; George Lane on stochastics; Steve Moore on seasonals; and Steve Briese on traders' commitments. Others topics include: Bar chart and candlestick charts; Market sentiment indicators, and Gann analysis; Volume and open interest and bullish consensus; Point and figure charts and moving averages.
Customer Reviews:
elementary, but competent.......1999-06-23
Pretty nicely done, but a better title would have been "Handbook of BEGINNING Technical Analysis." I wouldn't call it comprehensive. More like a mile wide and a few inches deep. But if that's what you need this is a nice book.
"exceptional book covering the technical gamut"-Tom DeMark.......1999-03-23
Darrel Jobman has captured the essence of various market timing methods.In simplistic terms he describes the key elements and components of many technical methods. His depth of understanding and his unique ability to present the material is apparent from the first page of the book. For beginner, intermediate, and advanced students of technical anlysis alike, this book is a "must read".
Book Description
Using your computer to Day Trade has never been more popular. But it can also be risky business. Benefit from the simple truths LeBeau and Lucas provide - and stay on the winning side of the score sheet more often! This compact little booklet really packs a punch. Two top pros cover all the day trading essentials including:
1) What it is
2) How to get started
3) Costs of doing business
4) Maximizing profits
5) 12 major systems and methods for day trading success
Plus, a demo disk assists readers in using their PC and analytical software when making any trading decision. DEMO Disk Included: The enclosed demo disk will enable you to quickly and easily apply all the methods and techniques outlined in the book and put them to work for you. Its an essential tool for becoming a better, consistently successful day trader - and will keep you on the cutting-edge of this fast-paced and quickly changing arena.
Customer Reviews:
Weak methods.......2003-07-31
Not even sure that I can recommend this to a beginner, as these methods are very simple, very vague and often have no money management. The only positive is that it's a quick read and cheap.
Honest.......1999-11-06
I know Charles Lebeau because I meet him at Dr. Tharp's seminars about building a winning trading system that fits you. He is honest in that saying daytrading isn't for everyone. It increases the opportunity and the cost. If your like most traders and make classic mistakes the increased cost and # of transactions will deplete your account. If you understand the rules the ideas in here may help increase your profits. I would reccomend buying the orginal Market Wizard's book by Dr. Tharp called Trade Your Way to Financial Freedom and then you might have something to work with by reading this book.
Worth the money.......1999-06-02
The book starts out with a word of caution, which is almost a refreshing break from the hype that has risen up around day trading. For those of us who have been trading for years, these words ring true. If you want the "holy grail" watch an informercial, if you want some ideas for trading, buy this book.
Please don't waste your money on this.......1999-05-31
Starts with a very negative opinion of Day Trading. It's roughly 80 pages of large type with a 1 or 2 page blurb on a "system" like gaps, RSI, divergence, etc. The back is full of ad's for other recommended material. Hard to find a worse book.
Didn't pack the promised punch. Not for the novice........1999-05-28
The description of the books contents looked like a primer for anyone interested in day trading. Not so.
The first chapter about day trading and its overwhelming negative odds has a disclaimer that the authors very seldom day trade and have very little first hand experience with the methods they are presenting. This certainly begs the question of why they are writing the book.
The methods presented presume a broad knowledge of technical anyalysis particularly charting. For example the first method described refers to a ".025 envelope"this might be a well recognized term for a professional but without a glossary or other explanation it is impossible for a novice to follow the exmple.
The demo disk included "to enable you to quickly apply all the methods and techniques" is a free demo from a quote/chart service and nothing specifically related to the methods in the book. The software can be downloaded free from the internet.
The book was supposedly 1999 dated but the book itself has a 1992 copyright- Is this a rehash of an old pamphlet..
Maybe someone with expertise in the field would give the book 5 stars, but a person just starting out like myself would find it worthless.
My suggestion to the authors is that they identify on the book description to whom the book is directed and especially emphasize that its comprehension requires a certain level of expertise.
Average customer rating:
- Simple 1-Day Strategy
- total waste of money. DON'T BUY IT.
- Good Strategy to Trade With
- book reader
- Good strategy and quick to use
|
The 1-Day Breakout Method
Pacific Trading Systems Research
Manufacturer: Pacific Trading Systems Research
ProductGroup: Book
Binding: Paperback
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Book Description
Here's How To Enter Fast, Powerful Moves...And Get Out In 1 Day Or Less! Introducing The 1-Day Breakout Method For Daytraders And Short-term Traders...
The 1-Day Breakout Method enables you to enter stocks ahead of sudden, fast surges. The beauty of the method is that it gets you in right at the beginning of the move.
Here Is How to Use The 1-Day Breakout Method...
Each evening, you'll go through a very simple four-step process.
1. You'll find stocks that are in strong trends or have made 20-day new highs or lows.
2. The stocks will have what looks like a counter-rally/false breakout, when in fact, they are simply resting.
3. You will then enter the stock at a specific point should the trend resume.
4. You will then look to take profits in one day or less!
It really is that simple.
Here Is What You'll Receive When You Order The 1-Day Breakout Method:
* You will get in and out quickly - in 1 day or less. The 1-Day Breakout Method gets you into moves that are sharp and fast so you can either exit the same day or the next. This not only cuts your risk exposure, but also frees up your capital for trading opportunities the next day.
* Statistically backed. Over the past eight-plus years, this method performed well both in up markets and down markets. For example, the 1-Day Breakout Method is 75.3% correct in the Brokerage Index since 1994!
* Trade in any market environment. The 1-Day Breakout Method identifies opportunities in any market environment. Whether the market is bullish, bearish or moving sideways...it doesn't matter. Because the brief pauses the 1-Day Breakout Method identifies occur in every type of market, you'll have a steady supply of trading opportunities.
* Trade both sides of the market. The 1-Day Breakout Method is completely unbiased about market direction and generates both long and short trades. The rules are simple. When the market is heading higher, you'll focus on the longs. When it's going lower, you're looking for shorts.
* Works on both stocks and ETFs, such as the QQQs, SPYs and SMHs. With the 1-Day Breakout Method, you want to be in the markets that have the most volatility and biggest trading ranges. You can have that but still control your risk by trading the more orderly, less news-driven action in the ETFs. Other traders, however, may prefer strong-trending individual stocks. With the 1-Day Breakout Method, it's your choice.
*Identify the highest velocity trends. You will learn the exact trend criteria used to identify the most powerful 1-Day Breakout Method candidates. There are two methods that you can use, both of which provide the same outstanding results.
* You'll get clear and simple instruction, plus statistical documentation. Included with your 1-Day Breakout Method is an in-depth, but concise instruction manual. In addition to many examples showing you how to apply the strategy, you'll also receive page after page of statistical test results across different markets showing you the profitability and other critical factors that make the 1-Day Breakout Method one of the most powerful trading methodologies for short-term equity traders.
* You don't have to sit in front of a screen all day! While the 1-Day Breakout Method gives you entries intraday, it is based on an end-of-day pattern.
Therefore, you can identify all the valid setups the night before and then place your buy-stop order before the market opens.
To take advantage of this powerful strategy, add this book to your cart now!
Customer Reviews:
Simple 1-Day Strategy.......2004-01-27
The book is only 40 pages, but it gives the reader and in-depth explanation of one trading strategy. Setups for this strategy don't occur on an everyday basis, so you can't use this strategy for your everyday trading. What I really liked is how the explanations of this one strategy taught me to look at specific components of trading setups and helped me develop and track my own trading strategies. Not great, but very good.
total waste of money. DON'T BUY IT........2003-12-03
I only gave 1 star because they won't let you give no stars. This type of trading book goes under the genre of 'very expensive because theoretically, you can get your money back by making just one winning trade.' Don't fall for it: this book (at app. $1.00 per page!) is absolute and total rubbish. Basically, it tells you to look for a stock making a 20 day high, then after a one day pause, enter the breakout on the so called 'trigger' day. But get this: on page 22, the author(s) make the following stunning admission and I quote: "As you can see, this method is simple and easy to identify. Here is the catch: Most trigger days will never occur. This is one of the keys."
Can you believe that?? If most trigger days NEVER occur, then what the heck are you looking for? The authors provide some arcane and screwy explanation, saying that you are looking for many small trades with minimal losses and app. 1 in 6 or so trades will work. Aha, so that's the KEY? (LOL). Hey, aren't we ALL looking for many small trades with minimal losses? Problem is, tradiung is an extremely difficult and complex thing to do, thousands of books have been written on the subject, and the above method is surely not THE ONE.
As if this isn't bad enough, the book is poorly written with very weak and incomplete examples. For example, the so called 20 day high, pause and trigger days are shown by a series of seemingly random OHCL bars, but what exactly are we looking for here? Dojis, high-low, low-high bars and in what sequence? Also, no examples of securities with precise entry points in terms of price are given.
Readers should always be extremely wary of home grown trading books (this one appears to be self-published), written by folks without established financial credentials trying to snag a quick buck from information-hungry or novice traders. Truly shameful.
Good Strategy to Trade With.......2002-10-01
Simplicity. There is nothing like it. I have often thought that the simplest method can often yield the best results in all areas of life. This strategy is no different. For those of you with backgrounds in technical trading, I think that you will really appreciate what this book has to offer. Folks who are not familiar with moving averages and bar charts may not be able to fully appreciate the power of this simple strategy. In any case, if you need a strategy that will help you find trading opportunities day-in and day-out, then you should give this book a good, long look.
book reader.......2002-09-04
Don't waste your time and money. The trading stradegy is nothing new. You will find better info about it and much more by reading "Hit and Run Trading" or "Street Smarts."
Good strategy and quick to use.......2002-07-09
I don't like to waste my time with long, uninteresting books. This book is great because it only too me about an hour to go through and really grasp and then I was off and running. My first 5 trades (over 4 days) using this strategy netted me over a $1000. Quick read and easy money makes me doubly happy!
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