The Master Swing Trader
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| The Master Swing Trader | |||||||||||||||||||||||||||||
| Reader Reviews 1 - 1 of 1 | |||||||||||||||||||||||||||||
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| 06-28-09 | 3 | 1\4 |
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This is a very weird book. The other reviews should indicate that. It is a book on pattern recognition. That part is fine, and has some merit. Then there is a whole other side: a weird new age, Native American pseudo-spirituality, a disconnected wax-on wax-off rhetoric, and tons of filler and eye candy (a discussion of markets in the first 1/3 with no depth, and a discussion of fibs and indicators with no formulas or indication of how to use them, more like a list . . . ). But the last 1/3 of the book is the meat. It is pretty interesting, and might be informative if I knew whether or not this guy was a real, successful trader. He introduces 7 ideas with goofy, new-age, pseudo-zen names, all of which point to well known concepts, which I place in second, then third I give the basic analysis concept involved:
1. "Dip Trip" - trends retrace - fibs 2. "Coiled Spring" - consolidation (triangles e.g.) precede breakout - volatility 3. "Finger Finder" - 1-3 signals - candlesticks 4. "Hole-in-the-wall" - gaps after rallies for downturns - gaps 5. "Power spikes" - big volume days - volume/money flow 6. "Bear hug" - rallies into resistance bounce down - S/R lines 7. "3rd watch" - cup and handles/triple breakout - channels What's odd is he discusses each of the 7 with the other 6 at the same time. This whole book could be summed up with, "I take the same tools you use, that you could find in any analysis book, and mix them all together in an idiosyncratic right-brain process that could never be put into words, man. Use the inner trader." In a way, I give him credit for trying, and I found it useful to break the early 1-indicator to the truth pattern newbies often acquire. But there is little useful knowledge. At half the price or twice the normal curiosity level, it's a buy. (Review Data Last Updated: 2009-08-02 13:02:37 EST)
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