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Book: The Three Skills of Top Trading: Behavioral Systems Building, Pattern Recognition, and Mental State Management (Wiley Trading) :: Book
Date: Thursday, 08 January, 2009 :: 21:41
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The Three Skills of Top Trading: Behavioral Systems Building, Pattern Recognition, and Mental State Management (Wiley Trading)
List Price: USD $75.00
from USD $41.08
Product Group: book
Manufacturer: Wiley
Studio: Wiley
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Editorial Review: Product Description
Praise for The Three Skills of Top Trading
"Professor Pruden's new book, The Three Skills of Top Trading, is unquestionably the best book on a specific trading method and the necessary attributes for trading that I have read. His logic, understanding of human foibles, and use of the Wyckoff method of trading are broadly referenced, readable, understandable, and entertaining."
- Charles D. Kirkpatrick, II, CMT, coauthor of
Technical Analysis: The Complete Resource for Financial Market Technicians, Editor of the Journal of Technical Analysis, and board member of the Market Technicians Association
"At long last, someone has taken the time and effort to bring the work and insight of Wyckoff to wider public attention-and Hank Pruden has done so masterfully, with great clarity and eloquence. Hank has taken the best of Wyckoff's work, combining it with the essential aspects of trader discipline and psychology, to provide a highly readable and particularly useful guide to trading. MUST READING!"
- Jacob Bernstein, www.trade-futures.com
"Hank Pruden puts all of the elements needed for successful trading into one volume. This book not only belongs on every trader's shelf but should be close enough for continuous reference."
- Martin J. Pring, President, www.Pring.com
"Dr. Pruden has brought together his lifetime of work in developing a modern approach to analyzing and trading the markets built upon classic market analysis from the early part of the twentieth century and topped off with modern-day tenets of behavioral finance and mental state management."
- Thom Hartle, Director of Marketing for CQG, Inc. (www.cqg.com)
"I usually consider a book to be well worth reading if it gives me one paradigm shift. I believe that this book will give the average investor a lot more than just one."
- Van K. Tharp, PhD, President, Van Tharp Institute
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Reviews:
Average Customer Review: 
1 of 2 people found the following review helpful:
Summary: The Title delivers
Date: 2008-10-30 - 
Comment: I am in the middle of the book, and I already see that it is going to have a solid impact on my trading behavior. I really needed the book.
3 of 4 people found the following review helpful:
Summary: Great contribution to Wyckoff's work!
Date: 2008-06-02 -
Comment: Prof. Hank Pruden has done it again! His depth of Wyckoff's knowledge associated with his keen sense of behavioural science illustrated through the Pruden Model, has made this highly acclaimed book one of the nowadays indispensable elements of the investor's and trader's arsenal. This book not only describes the psychological aspects of trading but also the "nuts-and-bolts" of Wyckoff's trading method. Highly recommended for the trader at any level he/she would be, on his way to conquer the learning curve difficulties.
[...]
15 of 16 people found the following review helpful:
Summary: Excellent description of Wychoff's system and how to use it
Date: 2008-03-11 -
Comment: This is a gem of a book and well worth reading. It does an excellent job of describing Richard Wychoff's system, which is an incredibly powerful technique in the analysis of price movements, such as accumulation/distribution, supply/demand, and the topping/bottoming processes. Pruden also describes and charts specific events to look for as a stock moves from a base into it's rise, or from a top into it's fall. It's easy to look at charts now and match the patterns with Hank's checklists or the priceless figures in the book to know where in the price movement progression one is likely to be.
The book also talks at length about how to get one's mind right in order to be successful in the market. I'm convinced that many systems can work when executed by disciplined investors, while the same systems will fail when executed by the undisciplined investors. This is a great bonus in this book beyond the powerful Wychoff trading system.
I really like the simple nature of the point and figure chart to follow price movements, because it works. No need to overly complicate the system, like the Tom O'Brien's of the world try and do just to sell you on a $2500 trading class. In fact, I remember when Hank was interviewed by Tom on his radio show during the fall of 2007, and Hank was bullish (due to his simple point and figure chart) and Tom was bearish (due to his overly complicated "Timing the Trade" mumbo jumbo). Well, the next 5 to 10% move in the market was UP, which Hank had correctly predicted based on the classic point and figure methodology.
This book is in my top 3 investment books for 2007. Well done, Hank!
5 of 8 people found the following review helpful:
Summary: Pruden Puts it All Together!
Date: 2008-01-20 -
Comment: Hank Pruden's masterful book "The Three Skills of Top Trading" is a must-read for serious students of the art and science of trading. It would well serve the newcomer to the world of trading as well as an experienced trader. Whereas many trading gurus say "you must use stop-losses", Mr. Pruden gives you a three-legged system that creates the knowledge governing the use of a "stop". In other words, this book contains the "WHY" as well as the "WHAT" that will help users manage their trading effectively, at the buy and the sell ends of the trade.
Thank you Mr. Pruden, for providing me with a foundational book that has already helped me.
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