Has anyone read The Logical Trader by Mark Fisher? Any thoughts regarding his approach would be helpfull.
I just started reading the book myself. I picked it up because of a review in Stock, Futures & Options magazine. I was also intrigued by the Foreword by Paul Tudor Jones because he includes the book as a 'must read' for every beginning trader. The other 4 books he mentions as must read are: 1) Reminisences of a Stock Operator, 2) Technical Analysis by Edwards and McGee, 3) The Elliott Wave Theorist by Prechter, and 4) Market Wizards by Schwager. I'm only about a third through the book so it's too early to give a comprehensive review. My impression so far is that it's a pretty well written book. The examples are clear enough. The one thing I found curious is that he doesn't give you the formula to calculate the 'A' value for a specific stock or index. The A value is the number of ticks that is used to determine your entry point. He says that the A value is calculated based on his proprietary research which he won't reveal. Since this a key piece of the trading system that he's purportedly sharing with the public you're left kinda hanging. It gives one the feeling that he wants you to open an account with his firm, MBF Clearing, in order to get access to this information.
"It gives one the feeling that he wants you to open an account with his firm, MBF Clearing, in order to get access to this information" I bought the book a month or two ago , but have only skimmed it so far ... it seems well written , but intense and I think if I am going to try following it I might need to drop my other methods of trading and try to experiment with its methods Also ... I might try to meet some other traders or even go to a class on it first , before trading based on it in any size.
I liked it not because of the trading methods (although I have no idea if they work or not,) but because I liked reading the stories of people towards the back of the book. nitro