Customer Reviews

AbleTrend: Identifying and Analyzing Market Trends for Trading Success (Wiley Trading)

5 star:		(28)
4 star:		(2)
3 star:		(0)
2 star:		(1)
1 star:		(8)

 

 

This book is useful to traders of all backgrounds. I know that it will help me in my own trading. Most of the concepts in the book apply to trading in multiple markets and on multiple time frames. This book has a lot of information about both entry and exit strategies. There is not a lot of complicated math. It is easier to read and understand than many books about technical analysis and trading. It not necessary to know anything about charting before reading the book. In fact, if you read this book you will probably conclude that most books about technicial analysis are worthless. It is true that some parts of the book apply to functions of the AbleTrend 7.0 program, but most of the concepts are universal. The book is valuable whether you have used AbleTrend 7.0 or not. Besides trading techniques, the book has some interesting information on how Chinese philosophy applies to trading. The book presents some some compelling theories on why some trading techniques make sense while others will never work.

It is true that some of the indicators discussed in the book are proprietary. I don't think that this takes away from the usefulness of the book. It is not really necessary to know all of the mathematical algorithms. The most unfortunate aspect of the book is that it is printed in black & white. There are many trading examples, but they are difficult to follow because you cannot see the colors on the charts. You will probably want to get the book's charts in color by contacting AbleSys.

For 18 months I've been using (and consistently making money from) AbleTrend, primarily trading US equities, ETF's and options, long and short, using my personal variation of a swing/momentum style of short-term trading. Unfortunately I didn't have this book to help me understand how to best utilize the AbleTrend program, but now that I have read it my profitability has increased considerably due to my better understanding, and thus confidence, in the program and its trend following style. This book also helped me utilze more of the tools within the program and to expand and diversify my trading to some foreign exchanges and to Forex and futures. Even if you don't use AbleTrend this book covers some good fundamental info about trend following techniques and mindset, plus money management and testing, but the book is clearly most useful for AbleTrend users or those who might be considering using AbleTrend. For the past 17 years I've been a professional trader and for me it's of little consequence to know the Wang's algorithms and "secret recipe"... from my perspective, that's their hard-earned intellectual property and I don't really care `how the watch was made', only `what time it is': All I care about is `how do I make money' with it. The book certainly answers that question for a variety of styles and different securities and instruments. If you are not a current or prospective AbleTrend user, then this book may merit fewer stars from you... but for me, it has paid 5 star returns.

As many others have said its basically an infomercial for their quite expensive software which I own and have had mixed results with. It will catch trends but more likely than not you will get stopped out the majority of the time then you have to make a decision to get back in or wonder if a sell signal is coming? When I bought the Ablsys program they offered free end of day data which they now charge $25/month for which is ridiculous. If you want an excellent trading platform for the price of free, open an ameritrade account and download think or swim (you get live intraday data in any timeframe for FREE, also forex and futures and no cost), I have been much more profitable than when using Ablesys.. Also Tradestation is another excellent platform for free if you are a frequent trader. In a nutshell AbleTrend is support/resistance trading with a moving average signal.

I am a long time user of AbleTrend. Nevertheless, I found many useful ideas, concepts, and understandings, that have enabled me to sharpen my own use of this powerful piece of trading software. I only wish that it was available when I first started trading with AbleTrend.

In this book, John and Grace Wang have clarified the substance behind the various tools that enable AbleTrend users to be among the most successful traders in the market. In today's stock markets, 70% of the volume is dominated by institutional trading. To compete effectively in this type of market environment, the individual investor must have tools that can give them an "edge." In my opinion, AbleTrend gives me that "edge."

For my ETF Trading, I use a proprietary momentum model to identify ETFs with the greatest momentum over a number of different time frames. I then enter this list into AbleTrend's Autoscan module. Within just a few minutes, I can then scan 50 to 100 ETFs to find the those with the best AbleTrend buy setups. Once purchased, I use the AbleTrend T2 indicator to tell me when it is time to exit the trade. The T2 indicator moves up under each trade in stair step fashion to protect my profits. Once T2 is broken, I exit the trade and move on to a new ETF with greater momentum. AbleTrend makes this process simple and more importantly; profitable.

Whether you are a long time AbleTrend user or new to trading, I recommend you treat yourself to a copy of this book. Over the years, I have tried just about every computer based trading system that has become available. AbleTrend continues to be my number one trading tool. I give both the AbleTrend book and the AbleTrend software a 5 star rating.

The only real purpose for this book is to sell the software. After 40 pages, he states "the specific formulas of Abletrend will not be disclosed". Why bother writing the book then? Ok, it's proprietary.........the much more accomplished Tom DeMark shares all his formulas and stll manages to make a living. Then we spend most of the book reading about the signals we know nothing about. I would have given it zero stars but there is some good information about basic trend concepts, not that it couldn't be found in many basic trading books. Money management? "We have modified the Ryan Jones "Fixed Ratio" strategy"........so you might as well buy Ryans' book instead. All in all, disappointing.

I have been following Dr. Wang's methodologies for years and finally have a chance to better understand its principles and the philosophies behind it. Through years of studying and testing the market with various indicators Dr. Wang discovered that AbleTrend is the most powerful one. I now fully agree. I have lost plenty of money by trading with other strategies, or on fundamentals of companies, only to be burned by the market or by my own emotions. Following the trends instead of fighting or guessing just makes perfect sense. Aside from the technical aspects of trading strategies and tools, I really enjoyed Chapter 4 on the essential philosophy behind trading. I found this book very insightful and helpful to me!

I have been an Abletrend user for over 3 years now. In spite of owning the software I decided to purchase this book written by Dr. John and Grace Wang.
Because psychology and human emotions are the two most dominant traits to master in trading markets, there is an incessant search amongst traders to find the best tool and/or source of knowledge to achieve maximum trading potential.
I believe that any information worth its salt has a price tag and the more valuable the information, the greater the price tag on it. Dr. Wang has provided a decent tome of information in this book at a reasonable price. Although it is not intended to be a training guide, the book is well written and provides enough detail for the reader to comprehend the subtleties of trading methods being successfully used by traders for all liquid markets all over the world.
Being that Abletrend is a trend following system of indicators, it has an innate ability to detect the start and end of trends earlier than any other indicators I am aware of. It is said that "The winning horse wins by the tip of its nose." and Abltrend is definitely the system that provides that edge to enter and exit trades in any time frame and in any market of one's choice with stop loss indicators along the way.
It would be nice to have all charts in the book in color, but that drawback is overcome by the authors providing electronic pdf files in color that go hand in hand with the book.
I use this book as a handy desk reference at all times, and in conclusion, wish to state that the price of the book is a small investment compared to the return in trading acumen that it helps develop.

This book was written by the founders of the Ablesys Corporation that created the trading software AbleTrend. The book was written to explain the principles behind AbleTrend and why it works successfully. The book takes great effort to demonstrate and convince the reader that AbleTrend works and that it can be utilized in real trades for success. "The primary purpose of this book is to define a trend objectively so traders can follow the trend for profits in trading". "If you wish to trade the markets with consistent success, you must abandon against trend methods and begin to follow the natural law of trading with trends". Built into the AbleTrend software are just six trend related indicators: moving averages, exponential moving average, weighted moving average, MACD, ADX, and STARC bands. The system is a trend following system and does not do well in choppy markets after several losses in a row the book advises to go to cash and wait for a range breakout. The AbleTrend software gives a blue color on the charts to buy a red color to go short and a green color to designate no trend. The chart also shows resistance and support on charts and exactly where to stop your losses and get out if the signal proves to be wrong. The book explains the advantages of using their software because it gives clear signals and takes the impulse and emotion out of trading. The book is a good trading book because it discusses all the areas that will make you successful in trading. Trading using a system, which you can adjust AbleTrend to fit your specific methods and time periods. It strongly emphasizes winning comes from trading in the direction of the trend and not trying to predict or guess what the market will do, simply go in the direction of the market with trailing stops behind your wins or stop losses if you are wrong. In this book you get the philosophy of trend following that I completely agree with and use successfully myself along with charts showing real world applications of the principles. The book discusses the critical topics of discipline and risk management through proper positions sizing. I really enjoyed this book but it did little to add to what I had already learned from reading the books by Michael Covel and Alexander Elder. Also this book will likely seem like a late night infomercial to many readers and they will feel like this book is just an attempt to sell expensive software. With that said, the book contains the same principles that I use in real trading and I believe that the AbleTrend software may be one of the best on the market based on the principles of the book. This is a great book for beginning traders or those very interested in this specific software. Seasoned traders will likely be disappointed in the simplicity and product endorsement.

While there is some introductory info for trend following the book keeps its "secrets" . The publisher advertises this book by telling you they give away the secrets that would cost you $2,000 to obtain at their seminars or with their software.

But no, the book clearly states they will keep information proprietary.

SHAME on Wiley Publishing. They have cast into doubt any future book I will ever consider buying from their publishing house.

Unless you are a complete newbie looking for some introductory info on trend following, RUN from these liars !

And please click on the reviewers who give it 5 stars. Almost all of them have never reviewed anything on Amazon. All employees, family and friends of the Software sales team?

In the Editorial Reviews- product description on Amazon it states "AbleTrend confidential seminar costs $2,000, now you may get the secrets from this book"

There are no secrets given. The T1 and T2 information is still confidential. The specific formulas will not be shared.
I returned the book.