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Easy read, bad execution.Many better books out there on successful trading style and techniques. The views are too simplistic (cookie cutter almost) to be practicable and there is no direction on how to develop. Being well written it leads to a strong sense of confidence about the trading ideas put forward. In addition there are many expressions of criticism for anyone that does not follow trades to the letter.Having traded some and simulated the others I believe there is nothing in this book that is directly a money generator.
Grab a copy. This is a MUST-HAVE book for people who have just begun trading actively. The set-ups that he included in this books are proven techniques that highly increase the probability of being profitable.
Even if i got one good setup out of it, it would be worth it.because most trading books are BS and a waste of time.The only reason why i havent rated it 5 stars is because i havent had the time yet to trade all the setups that i like. After reading this title, i quickly put 3 of his setups to the test and traded them word for word with minor adjustments on stops and entrys.I used Pivots with DDM successfully and made enough money to pay for this book a hundred times over.I used his ping pong plays and made money 75% of the time.I also used his HOLP and LOHP setups and avoided a costly mistake in going long CIT before the 80% drop just 2 wks ago.So far, i can say that this book is worth buying and having a look at. Many reviewers have backtested his setups and claimed them false or invalid. I chose 5 out of the 10 setups and want to give them equal chance. So, the backtest argument goes both ways.The best way to put this book to the ULTIMATE test is to simply use his setups by following them to the T in the real world with REAL MONEY. Im not going to write about the topics in this book, as you can easily find out by reading it.
You can easily conceptualize some of his techniques but wont know if they hold any truth until you put them to the test. You have to try his setups and really see for yourself if they work or not.He lays out a business plan for you to follow.of course you can tweak it to your liking and preferences.Although he does emphasize futures trading alot, you can apply it to anything like an ETF or some other instrument.All in all, i have yet to try his other setups but if 3 of them are working for me, thats all that will make this 40$ buy worth it for me. I will, however, give you my honest opinion of this text. Put real dollars on the line and you will see if any of the ideas hold true.Well, that is what i have begun to do. Because i had success with the ones i tried so far, i will rate it 4 stars.will update my review again in a few weeks. There are also plenty of other good reviews you can read to get a synopsis of this title.The book is logically written and easy to follow.
However, we also have to remember that some setups we backtest and have great results with dont fare well in the real world.
In all I would definitely recommend this book. John Carter puts down some nice example views, and explains them very well, also includes web-sites to see or use. I think this book was very helpful, it covered different plans, setups, it stresses good money and risk management techniques. I found there could be something of use either from a novice to an experienced person point of view.
However, some chapters can be valuable for beginners.Conclusion: Low value. First of all, i should point out that no one should expect someone to release "proven techniques for profiting" about the markets. The title is just for marketing purposes, and none of the trading methodologies in the book are by no means consistently profitable techniques.
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