Average Reviews:
(More customer reviews)This book was a disappointing read for me. The author didn't really offer much new. To his credit the book is an expansive presentation to many volume indicators. However, there were many times where I felt that the author repackaged free sites on the internet. The author's book title should be taken in an "encyclopedic" sense not in a "mastery" sense. It will show you how to trade different volume indicators based on popular practice. The author starts the book by stating that he has a proprietary volume indicator, the formula of which is not discussed in the book. He then goes over his many newsletter packages that you can subscribe for to get access to signals from this indicator.
The author presents the popular belief that strong volume in the direction of the trend confirms it and that week volume during corrections means the trend will resume. I don't believe in at least the past 3 years that this statement has held up well. There has been many low volume rallies that lasted for extended periods of time. Additionally the author's own examples had many flaws. He would show that volume is supposedly decreasing on a correction by connecting two volume spikes and then state that the volume is decreasing. But the volume is increasing if you look at it generally or look at the period's MA. The two spikes are a phenomenon of their own. The book has many examples were the volume pattern is questionable at best. He also delves into the classic chart patterns like head and shoulders and talks about how volume contracts in the right shoulder but in real life there are so many head and shoulder patterns were volume doesn't confirm them. I want to state that I have been actively trading for 10 years now. If you are a beginner I think this book will be a useful read for you.
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