Average Reviews:
(More customer reviews)When I started reading this book, it wasn't long before I started to formulate an opinion, and I was thinking this couldn't possible more than a three star book. It was highly technical even when addressing very general subject, and the tone seemed a bit condescending. It didn't help that the authors kept flogging their earlier book, Mastering the Currency Market: Forex Strategies for High and Low Volatility Markets. As I neared the halfway point, I began thinking that I would have to give the authors four stars, because everything they were saying was making sense. Sure, it was still very technical, and it was definitely becoming more and more geared for a specialized, limited type of short-term trader, but the charts (candlesticks) made sense and accurately illustrated the authors' points, and the strategies continued to be sensible and feasible. As I neared the end of the book, despite reading for the umpteenth time that such-and-such was a topic covered in their other book, I found myself thinking that the information conveyed in this book is valuable, useful, practical, and reasonable, and anyone who is serious about making money in some kind of financial market would probably be able to use some of what this book contains. The fact that they close out the book with concrete trading plans (not strategies or analysis) tailored to different markets and traders and built on their earlier chapters of analysis, trend spotting, and trade timing, finally convinced me that this is a five star book. True, had I not received a complimentary copy from the publisher, this is probably not a book that I would have read, but I have to say, even though I've no intention of becoming a short-term trader or delving into forex and commodities markets, I learned a lot reading this book and it gave me plenty of ideas which I think will work for long-term stock trading. Who knows? I may even pick up Norris and Gaskill's first book.
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Proven Trading Techniques for Lowering Risk and Increasing Profits
In Mastering Trade Selection and Management, market strategist Jay Norris provides proven strategies for generating profits on a consistent basis—under all economic conditions. The secret lies not in predicting the market but rather in carefully managing your trade from beginning to end.
Norris gives you step-by-step instructions for selecting a market to trade, and determining which direction to trade the market, what to look for prior to trading, and when to enter and exit a trade. Mastering Trade Selection and Management takes the guesswork out of trading by showing you how to:
Measure the effects employment, government interest-rate policy, and consumer confidence have on a market
Determine what levels need to be breached to signal a change of trend
Implement a monitoring system to gauge when the current trend is holding or changing
Analyze markets down to an intraday level to identify historical support and resistance levels
Avoid emotional pitfalls that might lead you to make poor decisions—such as exiting a trade too early or failing to pull the trigger on a trade signal
Norris's simple five-step system for trading will make you a more consistent and profitable trader. Using the wealth of graphs, charts, and trading examples inside, you can research, set up, and test your trades in order to fine-tune them for the real world. You risk no money and qualify yourself to make more trades that are lucrative.
From planning to execution to exit, the blueprints to the fine art of trading are now in your hands with Mastering Trade Selection and Management.
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