Tools and Tactics for the Master DayTrader: Battle-Tested Techniques for Day, Swing, and Position Traders

Book Description

Over 30,000 online investors daily flock to pristine.com, the top-rated Website run by day trading legends Oliver Velez and Greg Capra, for up-to-the-minute strategies and market commentaries. In Tools and Tactics for the Master Day Trader, Velez and Capra revisit and completely update over 100 of their daily commentaries from the past four years, with new material explaining what worked, what didn't, and why.

This no-nonsense, easy read, meant to be referenced by traders every trading day, covers everything from potent trading strategies to intuitive insights on psychology and discipline. Proving once again that the best teacher is experience, Tools and Tactics for the Master Day Trader will help any trader log on with the technical skills, market knowledge, and confidence they need to capture more winning trades, and reap new profits.

Customer Reviews:

THE best book on trading I have ever read........2007-09-09

I had to get this book after reading such a mix of reviews. I was really curious how it would turn out since reviewers were either raving about it or trashing it.

After reading the 1st half of this book I was shocked to say the least. The first half of this book is worth more than all of the books I have read on trading combined. If someone trashes this book then they are either very new to trading and don't understand the points being made in this book(which I can understand because you have to get some experience under your belt to really appreciate what is being said in this book) or they are looking for a quick strategy they can read in 5 minutes and start making money. For one thing, that's never going to happen anyway.

The trading strategies in this book are very basic, so for newbies that part of the book has some good info. I was hoping for a little more advanced analysis of trading techniques, but I really didn't need that anyway. The knowledge and wisdom in the first half of this book is going to take my trading to moon.

For the newbies who didn't like this book, get a couple years experience under your belts then go back to this book and re-read the 1st half. I guarantee you, you will want to come back here and write a positive review.

Interesting book with lack in details by very self-confident authors.......2007-06-09

When I started reading the book by Oliver Velez and Greg Capra: "Tools and Tactics for the Master Day Trader", I thought it was one of the better books on day trading. It starts out with the importance of discipline, and the lessons to be learnt from losses. It also outlines the concept that you don't buy from the market, but there is always another person on the other side of the trade that has exactly the opposite market expectation as you.

Then come four chapters with lists of rules: 7 deadly sins, 12 trading laws of success, 15 things every trader should know, and 10 lessons for the master trader. Altogether 44 rules, which don't seem to be in any systematic order. It looks like the authors were brainstorming to come up with as many rules as they could think of, and then divided them up among the four chapters. Some rules contradict one another, some important rules are next to irrelevant ones etc. Also the "Seed of Wisdom" does not help to sum up the rules because it often is not related to the part that it is supposed to summarize.

In Chapter 10 and 11 the authors talk about tools and start out by explaining things as basic as a candle stick or support and resistance. Then they dedicate two chapters to Order Systems and Level II data, and it takes until page 293 when they finally talk about trading techniques.

After having talked redundantly about general things for three quarters of the book, the authors give their ideas of entry, stop and exit techniques. What I missed most in this part is the lack of exact trading rules. Everything is expressed vaguely (e.g. p.219 "you can also opt to keep the break-even stop. This is a matter of choice." or p.322 "Sell at least half your stock if and when the stock breaks below the 5-minute low. ... These are just guidelines. We don't want to be stupid. ... Many traders will be best served selling the whole lot at this point."). This is exactly the vagueness you can't afford as a day trader. I was also disappointed that there was so little variety in the trade setups (just three entry techniques).

So my hope was high that in chapter 17 "How to put it all together" there would finally be concrete entry and exit descriptions. Instead, the authors just describe common chart formations like any other book on technical analysis (and do a worse job, too).

Throughout the book I noted an arrogant tone (p. 317: "Let's assume a master trader, let's call him Mr. Velez."). The authors speak about master traders, as if they were some kind of rock stars. No matter, how successful you are, if you quit being humble, the market can easily take everything away from you.

I am giving the book three stars because it does cover important topics for day traders like discipline, and learning from your mistakes. If you want to read a more effective book, however, I recommend the one by John F. Carter "Mastering the Trade".

Seeds of Wisdom!.......2007-05-18

Tools and Tactics for the Master DayTrader: Battle-Tested Techniques for Day, Swing, and Position Traders.

Velez and Capra give me the impression they have traded before and are not just book writer's. You can learn a few pointer's from this book whether you are a rookie or have been trading a while. It covers Candlesticks,Moving Averages, Fibs, Volume and drawing a few trendlines on the charts intraday and daily charts.
It does not go into some of the mathematical stock indicators that some trader's think it might be the "Holy Grail". Sorry, there is no Holy Grail in the stock market you better look elsewhere like yourself. The only "Holy Grail" you will ever find trading stocks is yourself there is no quick fixes to learn to trade stocks it all takes lots of time and practice.
Its to look and observe what a chart's footprints tell you with some seeds of wisdom.
I see so many negative reviews here about this books. I am starting to wonder whether those reader's have ever traded stocks.
I have traded full-time for years and I can tell you they must be all novice trader's hoping that a book might have all the answer's for them and their future. It would help them if they read this book a few times until it sinks in their minds.

Nothing new.......2007-04-18

nothing new, nothing exciting. Everything can be found in books that are half the price. Save your money.

FIVE STARS!!!.......2007-02-27

I would definitely give this book five stars. I really learned alot from it. If you gave it a bad review you either need to go back and read the book again or just skimmed through the book.

and to the person who sid that he "Heard" that they don't actually trade they are wrong and I thought everyone knew not always to believe what they hear. But hey, some people just believe things more easily than others.
and you can't even RATE this book one star because YOU HAVEN'T ACTUALLY READ IT!!!
You skimmed through the book and rate it one star??? WOW. that's all I have to say: wow. I'm not even going to say anything else. and people don't listen to all of those bad revievs out there. It really was a great book and is worth the money. (and so is his newer book)

and to the person who said: "This book TOTALLY rocked. I read it alot because it was so awesome"

YOU TOTTALY ROCK TOO! LOL!

Trading Commodities and Financial Future: A Step by Step Guide to Mastering the Markets (3rd Edition)

Average customer rating:

a balanced introduction
Great Book with a lot pf tips
Excellent Place to Start Your Commodites Trading Education
Reference book
WRITTEN BY A SUCCESSFUL TRADER

Trading Commodities and Financial Future: A Step by Step Guide to Mastering the Markets (3rd Edition)
George Kleinman
Manufacturer: FT Press
ProductGroup: Book
Binding: Hardcover

General | Popular Economics | Business & Investing | Subjects | Books

General | Business & Investing | Subjects | Books

Commodities | Investing | Business & Investing | Subjects | Books

Futures | Investing | Business & Investing | Subjects | Books

General | Investing | Business & Investing | Subjects | Books

Introduction | Investing | Business & Investing | Subjects | Books

Options | Investing | Business & Investing | Subjects | Books

General | Personal Finance | Business & Investing | Subjects | Books

All Amazon Upgrade | Amazon Upgrade | Stores | Books

Business & Investing | Amazon Upgrade | Stores | Books

All Titles | Qualifying Textbooks - Fall 2007 | Stores | Books

Business & Investing | Qualifying Textbooks - Fall 2007 | Stores | Books
Similar Items:

Hot Commodities: How Anyone Can Invest Profitably in the World's Best Market
The Commodity Trader's Almanac 2007
Futures 101 : An Introduction to Commodity Trading (2000 Edition)
Starting Out in Futures Trading
Commodities and Commodity Derivatives: Modelling and Pricing for Agriculturals, Metals and Energy

ASIN: 0131476548

Download Description

Commodities are hot! Learn how to profit now from this exceptional alternative to stock investing. 300,000 new investors start trading futures for the first time every year. Expert insight from a successful trader with over 25 years of real-world experience. Presentation is paced to provide a sound introduction all the way to sophisticated techniques in futures and commodities trading

Customer Reviews:

a balanced introduction.......2007-07-30

If trading is about markets, psychology, technique, then this book is an excellent introduction to these areas. Beeing balanced and only 250 pages, the book does not cover the areas in much depth. This might be a positive or a negative according to what one wants. 5 stars because the book is easy to read and gives an excellent big picture view on trading.

Great Book with a lot pf tips .......2007-05-07

this book is ideal for beginners and pro's that need some directions on how to make things the right way, i must say i enjoyed the small stories in between , overall whoever is looking to begin trading futures it is a must

Excellent Place to Start Your Commodites Trading Education.......2007-05-05

George Kleinman does a fantastic job of explaining the Commodities and Futures markets. Further, he does a great job helping a new trader get some 'legs' to stand on. He provides valuable insight into developing a trading methodology, and helps the beginning trader 'find his way' in the plethora of trading solutions out there. He demystifies how trading is done, and provides solid "Western" and "Conventional" trading practices so that the beginning trader has an excellent foundation to expand their knowledge. I would say that George's suggestions and lessons in the book are the basis for my knowledge (book smarts at this point) and provided the grounding necessary for expanding my knowledge base into Fibonnaci, WD Gann, Candlesticks, and so much more. Basically, it is my opinion that every beginning trader (not stocks but Commodities and Futures) should read this book. He does an excellent job explaining how trades, stops, support, resistance, MACD, Stochastics, Trend Lines, many other various methodologies can aid a trader into making good trades. I highly recommend this book.

Reference book.......2006-07-29

This is a book esp. for begineers. You can find every detail about futures & options. The stories and examples makes the book even much valuable.

Chapter 12 (Traders Psychology), Chapter 13 (Trading Secrets) and Chapter 14 (Jesse's Secret) are good to read even for experienced traders.

The worst part of the book is technical tool TMVTT.

It's a book that you can use as reference anytime. Good to have one.

WRITTEN BY A SUCCESSFUL TRADER.......2006-03-11

If you are interested to start learning about trading Futures, this book is a good reading. Basic to medium level information, well presented.

Average customer rating:

This book is great
Ummmmmm...
Prescription for successful trading from a true genius
The author is a market genius!
Actually, 4 1/2 stars but truly a ground-breaking book

DeMark On Day Trading Options
Day DeMark , and Thomas DeMark
Manufacturer: McGraw-Hill
ProductGroup: Book
Binding: Hardcover

General | Popular Economics | Business & Investing | Subjects | Books

Public Finance | Economics | Business & Investing | Subjects | Books

General | Business & Investing | Subjects | Books

Futures | Investing | Business & Investing | Subjects | Books

General | Investing | Business & Investing | Subjects | Books

Introduction | Investing | Business & Investing | Subjects | Books

Options | Investing | Business & Investing | Subjects | Books

Stocks | Investing | Business & Investing | Subjects | Books

General | Personal Finance | Business & Investing | Subjects | Books

Look Inside Business Books | Trip | Specialty Stores | Books

Look Inside Nonfiction Books | Trip | Specialty Stores | Books

All Titles | Qualifying Textbooks - Fall 2007 | Stores | Books

Business & Investing | Qualifying Textbooks - Fall 2007 | Stores | Books

Professional | Qualifying Textbooks - Fall 2007 | Stores | Books
Similar Items:

New Market Timing Techniques: Innovative Studies in Market Rhythm & Price Exhaustion
The New Science of Technical Analysis
High Probability trading
Entries & Exits: Visits to 16 Trading Rooms (Wiley Trading)
The Bible of Options Strategies: The Definitive Guide for Practical Trading Strategies

ASIN: 0071350594

Book Description

The option day trading blueprint you've been waiting for!

Options day trading is no walk in the park. But it is your most potentially profitable way to take advantage of the day-trading phenomenon. Put the odds in your favor with Demark on Day DeMark and Thomas DeMark, Jr. Forget complicated formulas! Instead, this nuts-and-bolts guide gives you a set of option trading techniques, indicators, and rules to limit risk without sacrificing profit. You're shown how to:

*Select, design, and build your own highly-personalized trading model
*Use filters and screens to select optimal option trading candidates
*Identify low-risk entry points in up, down, or even sideway markets

You get savvy tips for buying puts or calls based on market, industry, or underlying security ù even get a phone number to get a free, updated TD Indicators demonstration disk. For three decades, traders using breakthroughs like the DeMark Indicators have made fortunes. Now it's your turn!

Download Description

Electronic day trading of Internet stocks may be making the headlines ... but the entire field of day trading has exploded! DeMark on Day Trading Options is the first book to combine two of today's hottest trading phenomena -- day trading and options trading -- into one exciting blueprint for making money in volatile markets.

After first reviewing the basics of options. Tom DeMark -- renowned as a pioneer in technical analysis -- breaks new ground by introducing methods and techniques specifically designed for day trading options. He provides insights on selecting the best options to trade for specific markets. details how traders can accurately predict market movements and introduces the ingenious option trading variable he developed.

Customer Reviews:

This book is great.......2006-08-02

The previous reviewer cites the perception of the author's inflated ego. I too was distracted by the author's tendency to refer to "TD" indicator this and that and this disturbed me. However, i had the good fortune to meet the author at a Bloomberg seminar and the author explained why he chose to preface his indicators with the 'td'. The justification he gave was that his attorney wanted him to trademark and control the indicators and that was the effective way for him to accomplish that goal. I accept that reason and more than that I can overlook the petty complaint that it is distracting by concentrating upon the value I find in the indicators. I say call them whatever the author wants to since bottom line they are the best I have seen in my 35+ years in the industry.

Ummmmmm..........2006-07-25

You may want to think twice about this one. Not to be negative, but it is very hard to follow. Clear and concise dialog is absent in favor of unnecessary "branding" if you will of common techniques mixed with completely unverified and difficult to back test methods for trading the markets. This is trading celebrity gone wrong. I would love to know the remaining balance of an investment account traded with these "TDious" indicators. You can at least save yourself from this trade.

Prescription for successful trading from a true genius.......2006-06-16

My trading partner introduced me to the author's work. He told me that the author had worked closely with Paul Tudor Jones, Leon Cooperman, Steve Cohen and other industry titans. To be associated with these guys, he had to have something of value. After reading his books, my conclusion is that he truly possesses a creativity and market awareness that is unmatched in the industry. Although the ideas he presents can be profitably applied, I am certain that he does not share everything he knows with the reader. Regardless something is better than nothing.

The author is a market genius!.......2006-01-02

Prior to xmas and on my birthday I received a copy of DeMark's 'New Science of Technical Analysis'. I have been a professional trader for over 20 years and currently head up the trading operation at one of the major Wall Street firms. I thought I knew how market operateed and I shared my expereince on TV, radio, and in newspapers for years. Upon reading this book and as well ass the other two in the DeMark set, I have gained a profound new awareness how markets truly behave. The author is beyoind peer in defining and describing the intricacies of price behavior. What an enlightening series of reads.

Actually, 4 1/2 stars but truly a ground-breaking book.......2005-02-16

I enjoyed this book immensely and since I have been trading for over 30 years and never read anything approaching the uniqueness of this book. I also read with much interest the author's other two bboks. However, the reason I would prefer not to assign a full 5 stars is because I truly believe the author knows much more than the general (and sometimes specific) ideas he posits in the books. I realize that the author has no obligation to share more than the very helpful ideas we find within the pages of the book but it would have been much, much more useful to include more information. I assume that for the small amount of money invested in the books, he did not want to provide more information. Also perhaps the size of the book would be volumes. Nevertheless the new, original ideas included in the book are compelling and very helpful.

The Master Swing Trader: Tools and Techniques to Profit from Outstanding Short-Term Trading Opportunities

Average customer rating:

A good, if hard to read, trading book
No substance
One of the Best
WOW...just wow
Solid Technical Trading Book

The Master Swing Trader: Tools and Techniques to Profit from Outstanding Short-Term Trading Opportunities
Alan S. Farley
Manufacturer: McGraw-Hill
ProductGroup: Book
Binding: Hardcover

General | Popular Economics | Business & Investing | Subjects | Books

General | Business & Investing | Subjects | Books

Futures | Investing | Business & Investing | Subjects | Books

General | Investing | Business & Investing | Subjects | Books

Introduction | Investing | Business & Investing | Subjects | Books

Options | Investing | Business & Investing | Subjects | Books

Stocks | Investing | Business & Investing | Subjects | Books

General | Personal Finance | Business & Investing | Subjects | Books

Look Inside Business Books | Trip | Specialty Stores | Books
Similar Items:

Tools and Tactics for the Master DayTrader: Battle-Tested Techniques for Day, Swing, and Position Traders
Come Into My Trading Room: A Complete Guide to Trading
High Probability trading
Japanese Candlestick Charting Techniques, Second Edition
Trading for a Living: Psychology, Trading Tactics, Money Management

ASIN: 0071363092

Book Description

Swing trading is gaining popularity as a powerful method to increase returns—and potentially lower risks—by profiting from short-term price moves. The Master Swing Trader explains how traders can use technical analysis, charting, and market sentiment to make trades that hold through price fluctuations and noise with wider stops. This complete, practical guide to making profitable short-term trades—based on the author’s popular “Mastering the Trade” online course—uses dozens of charts and graphs to illustrate proven swing trading concepts and strategies. Experienced day, position, and online traders will benefit immediately from: - The 7 Bells – unique tools to uncover promising short-term prospects - Techniques to profit from low-risk short sales - The 4 repeating cycles for perfectly timed trades

Download Description

The Master Swing Trader explains how traders can use technical analysis, charting, and market sentiment to make trades that hold through price fluctuations and noise with wider stops.

Customer Reviews:

A good, if hard to read, trading book.......2007-07-28

I felt the need to post a review because it seems to me most reviewers think the only options for rating a product are 1 a 5. To preface: I'm a college student who has recently been looking into technical analysis. This book was recommended to me by a friend. I don't claim to be an expert in trading.

First of all, I have to agree, this book is incredibly hard to read. The author comes off as an over-verbose pretentious individual.

Difficulty aside, this book gives you an incredible wealth of information on trading. I couldn't disagree more with a past reviewer who claims that this book is marketed as a "Get rich quick". I feel this book is quite the opposite. It gives you a very practical overview of many of the popular indicators and TA techniques(as opposed to say, the introductory explanation as offered in Murphy's) as well as lots of general tips to aspiring swing traders. It then goes on to outline some very thoroughly defined trading systems and all the knowledge needed to execute them.

This book is long and to be honest, painfully boring sometimes. However if you are looking to increase your knowledge of trading, I feel this is a book that should definitely be considered. Look elsewhere if you want a quick weekend read.

No substance.......2007-04-18

There are some good principles in the book, but its way to easy to get lost in all of the repetition and blandness. The section on fibonocci retracements was useful and seems to work well for me in practice; however, I didn't get much else from the book.

One of the Best.......2006-11-12

I had read a lot of reviews over this book before deciding to purchase it. The reviews--more than any trading book out there, at the time--pretty much had the vote split between people who absolutely hated it and those who absolutely loved it. The deciding factor that lead to my purchase was the author (a professional trader of many years) of another book who spoke highly of "The Master Swing Trader"'s author, and the work he had done in writing this piece.

This is not a fluff book to hook you into trading. This book is geared towards those few individuals out there who wish to make trading a profession, rather than a passing fancy. I read a large number of those fluff books during my decision to become a professional day trader. I wish I had picked up this book first, because it goes into all the techniques I now use today in order to be successful. Not only does this book discuss the various trading techniques and their set-ups, along with all so important exit strategies, but more importantly it discusses why price moves in certain directions, why it jumps forth, why it breaks down--basically, it offers rare insights into the psyche of the trading crowd that is the market (all those traders out there who are competing against you).

The writing style has been berated as too 'text-book' in presentation, but I beg to differ. It flows with an elegant prose that distinguishes the author not only as a true trader, but also as a true writer who can hook those who wish to relate to the generously offered insights. Only those who have been through the grueling battles in actual trading scenarios and who hunger to know why things went right or why they went wrong, will appreciate this work and set it up on their bookshelf next to the other trading classics.

If you are used to simplistic writing such as can be found on any dimestore bookshelf, with the likes of Stephen King, this elevated work may certainly be beyond your grasp. If, however, you can digest proper grammer and get past poetic prose, this book will open a window rarely seen before. It is probably one of the best all around trading books ever written.

Good luck to those aspiring traders who hunger to understand market sentiment.

WOW...just wow.......2006-11-09

What a horrible book. The writing style of the author is horrendous! Impossible to follow or even comprehend what he is trying to teach. All the information in this book is readily available online. Save your money and buy "Mastering the trade" by Scott instead.

Solid Technical Trading Book.......2006-09-24

First, I agree that the author needs to learn how to write properly. Some of his thoughts are all over the place, and need some work. His editor must have been a complete moron. Nevertheless, after going through the material, I felt the book had some good trading ideas to offer, if your familiar with technical analysis. The seven bells are a useful place to start looking for trading setups, and are the most valuable part of this book. With that said, John Carter's Mastering The Trade is much, much better if you had to only buy one book. If the author edits his writing a little bit better, stops trying to be like Shakespeare (go write fiction if you want to do this big guy), his book would be much improved. It would also be useful to see some stats on how his 7 bells do in actual trading. He sometimes makes comments like an 65-80% of the time it will work... well I could tell you the Tooth Fairy is real, too, but show me some evidence!

Futures & Options For Dummies (For Dummies (Business & Personal Finance))

Average customer rating:

Good as Always
Not much help for option trading
not for dummies, but for serious traders
A future in options

Futures & Options For Dummies (For Dummies (Business & Personal Finance))
Joe, M.D. Duarte
Manufacturer: For Dummies
ProductGroup: Book
Binding: Paperback

General | Popular Economics | Business & Investing | Subjects | Books

General | Business & Investing | Subjects | Books

Futures | Investing | Business & Investing | Subjects | Books

General | Investing | Business & Investing | Subjects | Books

Introduction | Investing | Business & Investing | Subjects | Books

Options | Investing | Business & Investing | Subjects | Books

Stocks | Investing | Business & Investing | Subjects | Books

General | Personal Finance | Business & Investing | Subjects | Books

Look Inside Business Books | Trip | Specialty Stores | Books

All Amazon Upgrade | Amazon Upgrade | Stores | Books

Business & Investing | Amazon Upgrade | Stores | Books

For Dummies | Amazon Upgrade | Stores | Books

All Titles | Qualifying Textbooks - Fall 2007 | Stores | Books

Business & Investing | Qualifying Textbooks - Fall 2007 | Stores | Books
Similar Items:

Trading for Dummies
Technical Analysis for Dummies
Commodities For Dummies (For Dummies (Business & Personal Finance))
Stock Options for Dummies
Getting Started in Options (Wiley Audio)

ASIN: 0471752835

Book Description

The days of buying and holding stocks and mutual funds for years are gone; nowadays, futures and option markets offer some of the best opportunities to make money trading in volatile times. But like all investments, high risk is involved, and in order to become a successful trader you must be prepared to work as a geopolitical analyst, a money manager, and an expert in all types of commodity markets.

Futures & Options For Dummies will show you how trading is done and how to survive and succeed in these ever-changing markets. Filled with nuts-and-bolts advice, you’ll soon discover how to manage the risks involved and reap the rewards of futures and options trading. This straightforward guide gives you the tools you need to understand:

Ins and outs of trading futures and options
How to analyze the markets and develop strategies
Interest-rate futures and speculating with currencies
How to stock up on indexes
The direction of commodity futures
Organizing your financial data and calculating your worth
Developing strategies now to avoid pain later
The execution of successful trades

Trading takes an iron-cast stomach and nerves of steel to perform, and this book features ways to keep yourself sane and secure. It also lists resourceful Web sites, commodity exchanges, books, newsletters, and magazines to assist in your trading endeavors. From technical analysis to finding a broker, Futures & Options For Dummies has all the information you need to capitalize on these markets!

Customer Reviews:

Good as Always.......2007-03-25

Helped pass the Series 3 license, and helps with understading the industry.

Not much help for option trading.......2007-01-25

If you don't have a lot of money to invest, don't think seriously about reading this book.

not for dummies, but for serious traders.......2006-11-04

I would assume people who read this book would be the ones who already have good experience in stock trading. The author did a good job in explaining the macro-economic factors (money supply, interest rate,...). You have to get good understanding on all these before you can do good in future trading.

The author also did a good job in describing complicated topids in a simple and clean way. He is writing the book base on his experience and insight. He definitely is the kind of person who knows a lot and also know how to teach you things in a simple form.

A future in options.......2006-10-28

This author has explained concepts and strategies which I have used to make money. One trade, 100% return in one month, another 40% in two days!

This is the reason I read this book, to make money. No one should try to make money in options based on simple formulas. One must have a deeper understanding of how things work. Duarte has a firm grasp on this concept and ably communicates to his reader.

Particularly helpful is the section on recognizing trends and getting ahead of the curve. His 'Developing Strategies' does help the careful reader avoid pain in the market. Also helpful are his ten killer rules.

Futures and options trading isn't for the faint of heart. Useful information contained in this book offers information needed to have confidence in developing a trading plan that you understand and can make work. This is very useful indeed.

A very credible tome on a subject written with obvious insight and judgment that can only come with experience.

The Trading Game: Playing by the Numbers to Make Millions

Average customer rating:

One of the two books I will recommend for Money Management
Helpful but very tough to follow.
EffectiveFX
Complex but valuable book about money management
compulsory book

The Trading Game: Playing by the Numbers to Make Millions
Ryan Jones
Manufacturer: Wiley
ProductGroup: Book
Binding: Hardcover

General | Popular Economics | Business & Investing | Subjects | Books

Public Finance | Economics | Business & Investing | Subjects | Books

General | Business & Investing | Subjects | Books

Futures | Investing | Business & Investing | Subjects | Books

General | Investing | Business & Investing | Subjects | Books

Introduction | Investing | Business & Investing | Subjects | Books

Options | Investing | Business & Investing | Subjects | Books

Management | Management & Leadership | Business & Investing | Subjects | Books

General | Personal Finance | Business & Investing | Subjects | Books

General | Business & Finance | New & Used Textbooks | Stores | Books

All Amazon Upgrade | Amazon Upgrade | Stores | Books

Business & Investing | Amazon Upgrade | Stores | Books

All Titles | Qualifying Textbooks - Fall 2007 | Stores | Books

Business & Investing | Qualifying Textbooks - Fall 2007 | Stores | Books
Similar Items:

Trade Your Way to Financial Freedom
Mastering the Trade (McGraw-Hill Trader's Edge)
Money Management Strategies for Futures Traders (Wiley Finance)
Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude
Way of the Turtle: The Secret Methods that Turned Ordinary People into Legendary Traders

ASIN: 0471316989

Book Description

Clear, concise, and practical, The Trading Game shows you how to harness the power of money management for any trading method "The goal of most futures traders is to make a million dollars as fast and as painlessly as possible. Unfortunately, few traders achieve this goal. In The Trading Game, Ryan Jones demonstrates how the proper application of his new money management strategy, Fixed Ratio Trading, can enable an average trading system to earn spectacular profits. My advice? Don't trade until you've spent as much time and effort on money management as you've spent on developing your entry and exit rules." -Tom Bierovic, Manager System Trading & Development Education, Omega Research, Inc. "Ryan Jones is on the cutting edge of the most important element in the art of speculation-be it stocks or commodities-money management." -Larry Williams, trader and author Long-Term Secrets to Shot-Term Trading "Money management is the most overlooked part of trading but is the key to building enormous wealth. Ryan Jones first overviews classical methods and then discusses a new paradigm which, combined with a reliable trading method, can lead to financial security." -Murray Ruggiero, President Ruggiero & Associates; contributing editor, Futures magazine "At last-a money management book that is not intimidating or boring. Ryan Jones has made a complex subject easier to understand and follow. I am especially excited for all independent traders." -Glen Ring, President, Glen Ring Enterprises editor of the widely respected View on Futures newsletter "Ryan Jones has always been one of the most innovative traders and creative minds in the industry. With the writing of The Trading Game: Playing by the Numbers to Make Millions, he has taken the science of money management and risk control to another level. I wholeheartedly endorse his efforts and recommend this new work required reading to anyone either just entering the trading arena, or already participating in it." -Ted Tesser, CPA and author, The Trader's Tax Survival Guide

Customer Reviews:

One of the two books I will recommend for Money Management.......2007-07-22

This is one of the two books about money management that I would recommend to anyone who is trading, the other one is Trade Your Way To Financial Freedom by Van Tharp.

This book actually covers all issues related to position sizing and teaches a method especially beneficial to traders starting with a smaller account. I understand the numbers in the book is not properly illustrated, and the examples are somewhat intentionally designed, by the logic behind the method is very robust. Meanwhiles the author does not exclude the possibility of other position sizing strategies, he does suggest to switch from fixed ratio to fixed fractional method once you have build up your account to some point(on page 220).IMO, it is actually the best money management plan that will cover the whole life of a trading account.

I strongly recommend this book, as the best book on position sizing, and one of the best( together with Tharp's book) on money management.

Helpful but very tough to follow........2007-04-20

I liked the ideas in the book about position sizing, very helpful material. But the author will throw all kinds of numbers at you without really explaining how or where he got those numbers. The material is probably obvious to the author, so he assumes that it will obvious to the reader, as well. If you buy this book be ready to read and reread sections.

Here is an example: "After having acquired $100,000 in profits using the $5,000 as the delta for the fixed ratio method, we would be trading 20 contracts. The minimum level of profits to trade 20 contracts is $1,000,000. Therefore, what took 4 years to generate $225,000 estimated profits, generated $750,000 more in profits during the next four years"

Did he not say in the first sentence that 20 contracts would be traded for $100,000 in profits? In the second sentence it is $1,000,000? He does not explain how he got $225,000 or $750,000. I am sure Mr. Jones knows how he got these numbers but readers are left to figure it out for thmeselves.

The parts of the book that I did understand, I have begun to apply, such as position sizing. But it is a long and frustrating read.

EffectiveFX.......2006-08-06

If you really want to optimize your Forex trading returns, you need to understand the principles of money management. This book by Ryan Jones is probably one of the best books available on the topic of Money Management. If there is such a thing as a Holy Grail then Money Management is it. With proper money management you will be able to stay in the game for the long term. One of the biggest mistakes novice traders make is that they don't know how to manage their trading risks, that is why the failure rate for beginning trades is greater that 95%. Most novice traders blow out their account within the first year.

This book will be a real eye opener; it will provide some great insight into why proper money management is critical to your success. The following is a sample paragraph from the book:

"you don't need $1 million to achieve $1 million. You only need to build profits that total $100,000 based on trading a single contract. What this means is that a person who trades a single contract and makes $100,000 at the end of 5 years, instead could make $1 million by implementing proper money management"

Ryan does an excellent job at detailing the various Money Management methods along with their short comings. Parts of the book are complex; you may have to read them a couple of time to fully understand the concepts. Ryan does include a lot of tables and calculation in this book but they are easy to follow and comprehend. You don't need more that a high school math background to understand the calculations. This is another one of those "Must Have" books that you need in your trading library. We here at EffectiveFX highly recommend this book. It can make the difference between financial success and failure. Any trader serious about trading for a living must utilize proper risk management principles to be in the game for the long term.

Go to our site to see a list of highly recommended books for successful forex trading.

Complex but valuable book about money management.......2005-09-20

Explains the principles of money management; covers in detail the various aproaches (pyramiding, martingale, fixed fractional, optimal f et al) and shows why they are not optimal for traders. Finally offers his own money management approach called Fixed ratio. Loosely derives from fixed fractional, but reduces drawdowns and risk, while still allowing for improved growth.

The book is complex and somewhat dry, there are LOTS of tables of figures and you will need to re-read many sections. The method of money management seems sound enough although I haven't incorporated it into my approach yet.

Defintely worth reading as money management has been shown repetedly to be key to success in trading (alongside psychology, emotions and good exit strategies - which are not covered in this book).

compulsory book.......2005-04-02

This book contains virtually all information on money management methods. And more. And though the tables are at times tiring, overall presentation is clear, short and no-nonsense. The author presents existing methods of position sizing and then presents his, Fixed Ratio. I think that for small trading accounts this method is the most suitable in terms of the balance of risk and reward.

Other parts of the book are equally good. The chapters on consecutive wins/losses, optimisation, trading systems, portfolios are valuable and interesting. The whole book is written from probabilistic point of view. It is based on maths, even though the examples and calculations are very basic.

Even if one disagrees with author's ideas, this book is one of those few that are compulsory for serious traders.

Technical Traders Guide to Computer Analysis of the Futures Markets

Average customer rating:

A must read for Trading System Developers
Excellent Book
Many concrete tips
You should buy this.
Decent Info on TA

Technical Traders Guide to Computer Analysis of the Futures Markets
Charles Lebeau , and David W. Lucas
Manufacturer: McGraw-Hill
ProductGroup: Book
Binding: Hardcover