Then, luckily, I found this book. Its an excellent book, a must read, one of the best books ever written on trading -- especially if it’s the first book you read on the subject. Now, don’t get me wrong, this book will NOT teach you how to become a master day trader. However, this book will put you in the proper frame of mind in order to become successful, it teaches you the proper way to think as you approach the markets. This is extremely important.

… and yes, they do push their educational firm a bit, but they also list several others. While this may seem like a sales scam, a proper education is important! If you think you can just open a brokerage account out of the blue, and somehow become successful in this business, then you’re crazy, and soon to be broke!

… and yes, the title doesn’t really make sense, and there are several typos in the book -- plus, there are some instances where the authors accidentally flipped the bullish/bearish wording, so be careful, sometimes they really meant to say the direct opposite of what they wrote… but if you can’t easily spot these few errors, and correct them on your own… well then, basically, don’t get into this business.

I‘d like to add that I did eventually attend several pristine seminars, and I’m extremely glad that I did! I worked in some discounts, and even received a course for free, it wasn’t that expensive at all. They were professional, intelligent, and literally no pressure. They went above and beyond what I expected. As it turned out, all the time they spent pumping their educational firm in the book, in reality, was really good honest advice.

As for the setups everyone is complaining about… they don’t teach their setups in the book! I really wish I hadn’t loaned the book to a friend, because right now I have no idea what you guys are talking about in regard to the setups from the book.

However, When the authors spoke about things like the three bar drop, they didn’t mean to just automatically buy every time you see this! They were trying to explain the mind set of viewing controlled declines as buying opportunities… and, that if you see a stock moving up several periods, that this is not a sign to buy, but rather, a sign that you should have already bought, and be should be getting ready to sell…

Small declines in an uptrend are buying opportunities, not a reason to get scared because the stock is moving down -- and don’t chase moves after waiting for certainty! This is very solid advice. Not a failed setup just because you applied it wrong. Plus, it all has to be put in context of trend.

I challenge anyone to take any lesson from this book and explain why its wrong, and why you disagree with it. Certain chapters might be boring, or repetitive, or perhaps out-dated as of late (and I remind you that this is an old book)… but there’s nothing misleading, or out right wrong (with the exception of obvious typos) with any of the lessons taught in this book.

Look, in the end, its really up to you. Trading is not a get rich quick scheme, it’s a bona-fide business, and a difficult one at that… its not for everyone.