Average Reviews:
(More customer reviews)First off, let me say that I have made a lot of money using the information in this book as a basis. But I have found that the market has been changing over the past year or two to make the techniques in here less reliable. I have had to work to tune the information in this book to be more suited for today's markets.
Most of the book is based around finding stocks that have a strong uptrend (or downtrend for shorting opportunities) by utilizing the ADX/DMI technical indicators. Then, you look for a recent high and a pullback of a few days. The idea is that these stocks will recover and shoot higher. He gives a bunch of charts showing stocks during the tech boom reaching new highs, pulling back for 3 or 4 days, then shooting up to astronomical heights. He also gives some variations on this same theme, but most are based on the ADX indicator.
While this is a good basis for finding plays, it does not yield many plays these days on a day to day basis. I wrote software to search out the types of price movement he talks about. In any given day, you will find maybe 20-50 (out of 3000 stocks I scan) stocks that loosely fit his criteria. Out of these, there are maybe 10 that match his criteria, and the next day, maybe 1 stock will follow the pattern. But I don't see many at all reaching the high from before the pullback, never mind shooting astronomically higher.
Further, to get anything out of this book, you will need software that is capable of scanning the market. You will never be able to find these plays manually.
Thus, I can recommend this book if you have access to such software or are capable of writing your own software, as I did. If you do, you can tune these techniques and do quite well for yourself. But otherwise, I can't see spending [money]for this book, for the reasons mentioned above.
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No time to day trade? Intermediate-term and long-term trading not enough? Then, swing trading is for you. Now, David Landry, Director of Trading Research for TradingMarkets has put his entire swing trading methodology into one book to teach you how to trade successfully, every day.Dave Landry on Swing Trading takes you from his daily routine to the exact methods David Landry uses day-in and day-out in his own analysis and trading. More than a dozen momentum-based strategies that pinpoint opportunities based on pullbacks and capitalize on false market moves. He also teaches you how to use volatility to select the right stocks and low risk/high reward set-ups. This is a complete manual on swing trading which includes everything the beginner and intermediate trader needs to get started trading quickly.The following sections are included in his book to help you improve your trading results:Trend Qualifiers - Determining which stocks are moving with the general market trend is the first step. Learn how to precisely identify strongly trending stocks. Stock Selection - Making sure that the stocks you have picked exhibit the highest potential to move in your favor is key. David Landry will show you how narrow down your universe to pick the right stocks to trade. Swing Trading Strategies - Once you have your universe of stocks to trade, you can determine which stocks exhibit the highest potential to trigger for a promising move using chart patterns. More than a dozen swing trading strategies presented in an easy-to-read, easy-to-understand format. He provides you with the specific rules for entry and exit so you can start identifying the best trading opportunities immediately. Trading Master Section - To ensure that you understand as much of Dave Landry's methodology as possible, he has included for you dozens of trading examples to help you understand exactly how he trades his strategies and how he reads the market with uncanny accuracy. Stock Market Timing - Now that you have great set-ups, how do you decide which ones have the best chance for follow through? Learn how to use a number of stock market timing techniques to hedge your trades by trading with the probable direction of the market. Money Management - The real holy grail of trading is not contained in a pattern or an oscillator, it is found in your ability to limit losses and maximize gains. An often-neglected yet crucial element of trading is examined by Dave Landry in-depth as he helps you tailor the best stop methodology for your trading style.Trader's Psychology - You have the tools and the right strategies, but do you have the discipline to succeed with the wealth of trading knowledge you have just learned? Finish off your swing trading education with Dave's thoughts on the winning trading methodology.And much, much more!--This text refers to an out of print or unavailable edition of this title.
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