His two previous threads are the most entertaining I have read on ET in months. I like him so much I would psych mentor him for free here. So please don't tell him about Mark Douglas' books. I might want to plaggerize.
No stepping on my toes, Al! I am the psych trading expert here! Mr. Kilroy, start a thread in the Psych forum titled "Mudgins Mentors Kilroy" and I guarantee you a free trading education worth every penny you pay for it!
Have any of you even looked at this book? It sounds like many of you are just generalizing that all books are useless. What if it's actually of good quality? Of course the book isn't going to teach you every trick in the world about trading, but can't a good book speed up the learning process for a beginner? Perhaps get the reader thinking in a different direction so that they can expand upon what they've learned and generate new ideas? Yes, I know that a bad book could misguide people so you have to take each book by a case by case basis.
I read it a few years ago and found it well worth the time especially if you are starting out. There is a wide range of useful information in the book even if reading it gets to be a bit of a dry some of the time.
What does it tell you that a .pdf of the book is free? And they in fact are generalizing that all trading books are worse than useless, with the exception of Douglas. And possibly Elder's Trading for a Living. All other books will likely slow down your progress as a trader. I used to have scores of them on my bookshelf in my trading orifice, at a cost of thousands of dollars, and I eventually burnt them all but the three recommended. Thinking in a different direction? That is, of course, precisely what you want to do. But not based on ancient intermonably rehashed and recycled discredited trading ideas. The best system is the one you invent. Harrumph! Are you going to accept my mentoring offer or not? I promise you it would be painful. But no pain...
I appreciate the advice, but I don't want to pay you any money. I have a lot to learn on my own first. However, the fact that the PDF is free tells me nothing. People write books for different reasons and a lot of people write books knowing they aren't going to make a lot of money, but want to add to the field they are studying. Money isn't the sole motivation for what everybody does.
I've not looked at the book and I don't intend to. Ask yourself this about the author of the book, 'is he a successful trader?' If the answer is yes then why does he waste time writing a book about TA - well he wouldn't waste the time would he! If the answer is no, the why do you think you will benefit by reading a book about trading written by someone who doesn't know how to trade successfully. That inconsistency should alert you to the probable uselessness in reading the book and that buying it would probably be a waste of money. If you really must read about TA, if only to convince yourself its all bollocks, then there are numerous TA books available in pdf form that can be scavenged off the internet for free.
My services are free (well, they might cost you some scaped ego). Who asked you to pay? Why did you come here? I think you came here seeking advice that you could safely ignore. And having written a book, I agree with you that money is not the sole reason for writing a book. Ego gratification is. The fantasy that readers will love you and praise you for it. What my readers found was that I am just as ugly and prosaic and dull as they are, and vice versa.
Eggsackley! He would be too busy getting laid and drinking fine booze on sunny beaches with sunny bitches to write! And what successful trader will give you anything useful for fifty bucks?