Professional trader Colin Alexander unveils his revolutionary long-term commodities trading plan--The Wellspring System. This remarkable technical method targets the big moves and is structured with precise entry and exit techniques to capture maximum profits from every substantial trend.
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9 of 9 people found the following review helpful:
3.0 out of 5 stars
combines many other systems,
By A Customer
This review is from: Capturing Full-Trend Profits in the Commodity Futures Markets: Maximizing Reward and Minimizing Risk with the Wellspring System (Hardcover)
The first part of this book details the advantages of commodity speculation as a business (no employees, low overhead, don't have to deal with customers etc.) Afterwards many forms or technical analysis are discussed. eg, chart formations, trading patterns (lindahl, three in a row, gaps). Examples of daily weekly monthly time periods are given. Volume, open interest, financial reports ( committment of traders) are also given. Support lines, seasonal cycles, secular cycles are also given. To sum it up, many systems are combined. The result is a huge number of support, trend lines, and opinions of which the price could go. This books covers many things in a very readable style, (eg. if you..." trade with out stop losses, you'll end up in the lillies") . It gives explantion, shows successful examples of something working, but gives no unifying technique. The reader is left with a bunch of ways to do technical analysis, but with more questions than he started with
4.0 out of 5 stars
good chartist book,
By
This review is from: Capturing Full-Trend Profits in the Commodity Futures Markets: Maximizing Reward and Minimizing Risk with the Wellspring System (Hardcover)
good explanation of charting techniques, easy to read.But then it gets vague, "...you are almost certainly to increase your profits measureably by marking your diary with lunar phases and Gann dates and by taking them into consideration..." And in the putting it all together chapter, there is "learn the system, paper trade the system, stick to the system, review the system..."
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