 "Interesting Read" - soccerscott | August 25, 2011 7:16 AM |
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I really liked this book, but I had to ignore significant portions of it to do so. If you parse the new age inspired psychological section and the tepid discussion of technical indicators that are anecdotal in nature and unsupported by research (I have been spoiled by "trading classic chart patterns" and "practical speculation"), then you might like it too. While it may be unfair to compare this book to the others since this book predates them, I will be forever testing what I read by those standards. I really value his anecdotal explanation of what he did as a market maker and how he traded. I think there is real value to know the mind of the market makers that have to make a living in the market everyday by accepting risk. If you can rework your trading to trade WITH the order flow that market makers have on their desk, it will be a much easier ride. Obviously, there is no way for a third party to exactly know what is on a market makers desk, it may be interpolated from their actions. This book provides a perspective that I have not found in other trading books. |
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| "Loved it-" - bidie | March 18, 2010 11:50 AM |
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The comments on this thread illustrate the fact that most people do not understand trading markets- I suspect they think it is much more complicated than it really is-
Don't get me wrong I didn't say it was easy- just not complicated when you finally grasp what is going on-
Fantastic book that emphasizes exactly the right things for where I am at in my trading education- about a year and a half into serious 12 hours per day study-
=The main problem I am dealing with is still losing large amounts on bad trades and this books shows me how to avoid that pit of disaster-
Trading with the trend is the only way to play this game-
Thanks Josh! |
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| "a good read" - muller | June 24, 2009 1:40 PM |
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This book is great read for daytraders and new daytraders of stocks. Lukeman explains the basic use and understanding of technical analysis and fundamental informations. So it's great for readers of MarketWatch or Investor's Business Daily! It doesn't necessarily give you an edge. But the Moving Average Strategy for example is a setup that you can backtest. Then tweak it to fit your liking and personality. (btw fundamental numbers are backtestable too.) The MA strategy is more for stocks than for futures or forex because of the smoothness of the 1 cent/tick. I still use it today (this book was written in the 90s) but don't make it your only trading strategy. Learn other strategies as well.
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| "Made me profitable" - traderedwin | August 29, 2007 9:40 PM |
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I've been trading for about 10 months. I read this book halfway through my second month when I was down a good amount. I immediately turned my month around and haven't had a down month since. This book makes it click. |
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| "Great read" - MSCOTT07 | August 28, 2007 10:18 PM |
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very easy read. great for new traders. |
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Not Recommended
