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Book: The Master Swing Trader: Tools and Techniques to Profit from Outstanding Short-Term Trading Opportunities :: Book
Date: Thursday, 08 January, 2009 :: 19:44
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The Master Swing Trader: Tools and Techniques to Profit from Outstanding Short-Term Trading Opportunities
List Price: USD $59.95
from USD $29.99
Product Group: book
Manufacturer: McGraw-Hill
Studio: McGraw-Hill
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Editorial Review: Product 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
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Reviews:
Average Customer Review: 
Summary: Don't Bother With This One
Date: 2008-12-12 - 
Comment: This book is one of the worst I've read on trading. It will be a nightmare to read if you are a novice. If you are advanced on this topic, you will quickly realize that this book leads the reader from one dead end to another. Too many words. Too much filler. It has the feel as if it was put together in a haphazard way - paragraph after paragraph full of general statements on trading that often don't even make sense. It's very important to keep in mind that a LOT of these authors of trading books make a living off of selling trading books, DVDs, and subscriptions. Because, frankly, they can't make a living from trading.
Summary: Incredible book A must read!
Date: 2008-12-07 - 
Comment: This guy knows a lot of crap. I mean every 10 pages is so full of good information I couldn't possibly apply it all. I couldn't put the book down!
In my many years of trading with Bollinger bands his explanation of the bands on 1 page was so 'on the mark' I couldn't believe it.
I think John Bollinger would be impressed.
Killer book I love it.
Summary: You like a judgmental approach? Buy book | You like a mechanical systems approach? Stay away
Date: 2008-12-03 - 
Comment: The book is largely about pattern recognition with the additional help of volume and some indicators. Pattern recognition is largely judgmental, so you need to be very comfortable with a judgmental approach. There are never any clear sell/buy signals coming out of this book. The book can be good both for the beginner that is very serious about spending time learning about trading. But definitely also for the intermediate trader. This book is not for you if you want a more mechanical trading system or get really new trading ideas.
1 of 2 people found the following review helpful:
Summary: Swing towards profits
Date: 2008-09-06 -
Comment: This is a great book and I'm buying it for the second time as the other is packed away in another country somewhere. Farley is awesome. If you don't like the book, you simply don't get it. If you're lame enough to complain about it on here you've got an ego problem, or it was just over your head. If you're serious about trading its a must read. Thanks Alan. I hope someday to meet you in person and thank you personally. Happy Trading!
5 of 6 people found the following review helpful:
Summary: The Swing Traders' Definitive Guide
Date: 2008-05-12 -
Comment: I have read this book close to three times. Its pages are now worn from use and travel. It is the single book to which I attribute the majority of my market knowledge and trading success. I have since used my trading record to become an investment adviser utilizing only the techniques found here. In truth, I have also created my own money management system as a framework for capitalizing on Farley's directional insights.
This book, when I first read it, was not very appealing. I wanted something that could predict the market, not something that would tell me to wait and wait and wait until conditions were right. I didn't want to have to plan for opportunity and then strike if- and only if- price action developed according to my plan. I didn't want to do any of this until trading losses inspired me to enjoy making money over being excited about making a trade.
Since then I have returned to the book and read most parts twice over. Farley's patterns can be applied to any market environment, because they don't have too much overlap (that is, there's always a set of patterns available for any possible market environment). Therefore, first identify the general market conditions (1st section of the book dedicated to this), then identify which of his '7 Bells' fits that market environment (2nd part of book dedicated to these), and then perform the trade if and only if conditions are favorable (3rd part of book..). Take profits and losses readily. The markets have noise. Perfectly good setups will go up in smoke sometimes. Know your 'edge' and risk only the right amount of capital to take advantage of it (I did have to develop a system myself for this part as Farley does not cover it).
So, that is my review. The Master Swing Trader is a seminal work on swing trading that should not be taken lightly and most definitely not derided as "too complex". Yes, if it's hard, come back later with more trading experience. I consider this book to be the Be-All-End-All of trading books, and it reminds me of my senior-level Electromagnetic Engineering courses in college. Looking at that book in the first days of my study would have frightened me (just glance at a 'Smith Chart' in Google Images if you don't believe me). But after time, I realize that the concepts in that book were not too complicated and were in reality very practical and extremely useful. So, too, with Farley's masterpiece.
Ryan Sanden
Investment Analyst,
Northwestern Mutual Financial Network
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