Average Reviews:
(More customer reviews)An excellent primer for the beginning trader and good insights for more experienced traders. What stands out about this book is that Mr. Gutmann is not a professional trader, but got into trading like most of his readers probably got into trading, by thinking this looks like an easy way to make money (ha, ha). However, unlike 90% of beginning traders, Mr. Gutmann has become consistently profitable. Reading about his journey to profitability is a must for new traders. It takes hard work and he has some good advice.
The middle of the book is a detailed explanation of his trading plan. There are many concepts explained. New traders should not get overwhelmed with all the set-ups but initially focus on pull back or retracement strategies and stick to one market. I'm impressed that Mr. Gutmann can trade so many set-ups.
The set-ups are straight forward (most are available in TradeStation and the author will send you the indicators and TradeStation workspaces for a modest fee) and you won't find much more information from on-line trading schools or seminars. More experienced traders will appreciate the discussion on the expected values of one, two and three tier trades.
I enjoyed the book and can't wait to hear more from Mr. Gutmann as his trading evolves.
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