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Title: Four Steps to Trading Success: Using Everyday Indicators to Achieve Extraordinary Profits by John F. Clayburg ISBN: 0-471-41482-4 Publisher: John Wiley & Sons Pub. Date: 01 June, 2001 Format: Hardcover Volumes: 1 List Price(USD): $65.00 |
Average Customer Rating: 4.62 (13 reviews)
Rating: 2
Summary: Interesting, but system doesn't work well
Comment: Well, I enjoyed the book immensely, and liked the author's concept of the Directional Day Filter. Anyway, he bases his entire system on breakouts against the trend. Using my live market feed, I automated his rules to a letter via a homegrown app, and my losses mounted by the day. I implemented his definition of Support and Resistance, and whenever I broke through these levels, and the appropriate stochastic indicators indicated that I buy or sell, I would buy or sell short appropriately, and the stock would invariably reverse shortly thereafter. His mechanism was not reliable at all. To the contrary, you can get some good info from his book, and trade of support and resistance levels by themselves, reversing position when these respective levels are hit. This makes entirely more sense, and will allow you to profit consistently, contrary to what the author stipulates.
Rating: 5
Summary: Excellent
Comment: One of the few books that presents a truly viable short term trading method (sub 5 min charts). Clayburg meticulously "babies" you through the setup, procedure and entries. The charts are presented step by step and then bombs you with example after example. It is also annoying how well his setup is explained. If you are looking for an logical method of daytrading, this has to be on your desk.
Rating: 4
Summary: A very good TA book that reaches beyond TA
Comment: Unlike most other TA books that only go into details of certain TA tools, the author tried to post the big picture of TA tools as means of creating effective trading strategies that lead to his so called high probability trades. Adopting a step by step approach, he first outlined and explained a number of TA methods, and then reduced these methods to the four steps of trading success he promoted, which are:-
1. Determine the major trend of the day
2. Determine the minor trend of the day
3. Define an exact entry point
4. Determine an exit strategy
In my opinion, this book is really helpful and easy to understand. There is plenty of 1-min graphs elaborating the authorâs ideas, primarily for stock day trading. Though the prinicples are quite applicable also for longer term trading, I hope that the author will write another book for those position traders like myself.
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Title: High Probability trading by Marcel Link ISBN: 0071381562 Publisher: McGraw-Hill Trade Pub. Date: 17 March, 2003 List Price(USD): $39.95 |
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Title: Come Into My Trading Room: A Complete Guide to Trading by Alexander Elder ISBN: 0471225347 Publisher: John Wiley & Sons Pub. Date: 19 April, 2002 List Price(USD): $49.95 |
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Title: Professional Stock Trading: System Design and Automation by Mark R. Conway, Aaron N. Behle ISBN: 0971853649 Publisher: Acme Trader Pub. Date: July, 2002 List Price(USD): $64.95 |
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Title: The Master Swing Trader: Tools and Techniques to Profit from Outstanding Short-Term Trading Opportunities by Alan S. Farley ISBN: 0071363092 Publisher: McGraw-Hill Trade Pub. Date: 13 December, 2000 List Price(USD): $55.00 |
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Title: Profitable Candlestick Trading: Pinpointing Market Opportunities to Maximize Profits by Stephen Bigalow, Stephen W. Bigalow ISBN: 047102466X Publisher: John Wiley & Sons Pub. Date: 21 December, 2001 List Price(USD): $75.00 |
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