Customer Reviews

The Complete Guide to Investing in Short Term Trading: How to Earn High Rates of Returns Safely

5 star:		(13)
4 star:		(5)
3 star:		(3)
2 star:		(2)
1 star:		(3)

 

 

I'll start off with the positives: this book does give a good basic overview of basic short-term trading timelines and styles, and it frequently reminds the reader of several key rules for trading success (for example, developing a consistent trading methodology that emphasizes discipline over emotion). The profiles of successful traders also provide some pithy advice from people with varying backgrounds and perspectives. That said, after reading through the entire book, I find that it leaves a lot to be desired. My main complaint is that despite its claim to being a "complete guide" to trading, the book only covers fundamental and technical analysis at a very superficial level. Beyond that level, the book's best advice is "buy some trading software and figure it out." While it's true that you ultimately need to practice the concepts yourself to really apply them effectively, a few diagrams or concrete examples in the book would go a long way toward helping readers digest the ideas being discussed. [...]

Bottom line: you can use this book if you are an absolute novice looking for a very high-level overview of analysis principles and trading techniques. Otherwise, I'd recommend looking elsewhere for more detail and sophistication.

Just reading through the table of contents may seem daunting for this incredibly detailed and well broken-down text. But don't put it back on the shelves simply because of information overload! This book claims to be a complete guide to investing, and it takes that claim seriously. The strength of this book, in my opinion, is its variety of voice. Technically, it has one author. But between the covers are numerous interviews and personal stories on success and failure of stock market trades- not fictional scenarios, but real anecdotes from real (and often well known) `expert' traders. There is also the layman's approach to it all, with a glossary of terms and handy information `bullets' in the back of each chapter (in case the words were making your head spin). The author also does not cushion us readers with false hope or any sugar-coated lies about ease and success- which, as a beginning stock trader, I greatly appreciate. So, although it may take you weeks to fully comprehend the mass of information here, stick with it. Because, as we all know, playing the market is based on education, not luck, and so if you're a beginner in short term trading you should do your best to educate yourself fully. And this book should be a part of that education.

This book is a very basic book about trading. If you have traded for 3 months or more, many of things pointed out in this book, you will already know.

I've read many books about trading. This quite possibly might be the worst one of the bunch. Its very basic. Things that were covered, full service, web based and direct access brokers. Most of the major indicators were covered by the author. This information can be found anywhere on the web.

As I was reading this book, I kept waiting for the author to get into the nuts and bolts about short term trading. I waited and it never came. This book is very "generalized".

I gave it one star on the review but would have gave it a 1/2 star if I had that option. I would ask for a refund, if I could.

I wish I had read this book years ago -- I may have been able to react more appropriately (ie: I wouldn't have tuned out, or my eyes wouldn't have crossed) when my husband raved about a stock that he had just sold at a profit, or another one that he was watching as CNBC pundits argued in the background. I'd go into the "huh? zone" because I didn't understand what he was talking about when he referred to futures, options, puts and calls. All I vaguely knew was that a stock going up in price was a good thing, and you buy low and sell high. So, while I'm not planning to do any short term trading, this book gave me a better understanding of trading in terms that I could understand.

I sailed through the first several chapters in which Northcott went over the basics: supply and demand, global influences, the mindset of a trader, the differences between the markets and exchanges, placing orders, the types of traders, economic indicators and the tools that are needed to be a trader. Northcott's cheat sheet at the end of each chapter offers a quick look at the chapter in the form of "success bullets" and "words to know" that I found helpful and invaluable to someone using this as a reference book. I did start to get into the "huh? zone" around Chapter 8 when Northcott went into the nitty-gritty world of charting, and I found my reading slowing down as I stumbled over candlestick charts and support, resistance and continuation patterns. His lesson on indicators (ie. Moving Average Convergence/Divergence indicator and the Stochastic Oscillator) go into a detail that should make this book required reading for the beginning trader.

The next several chapters aren't a quick read - in fact, they'll take several re-readings and a highlighter. But they're basic tools for anyone wanting to research and trade on the markets.

I closed the book with new knowledge and a better understanding of just how risky and exhilarating short term trading can be. This book doesn't offer a get-rich-quick plan, but it does provide a look at the basics of what it takes to do this kind of trading. Throughout the book, Northcott stresses that short term trading is a business, so the novice needs to think of it that way. Don't let emotions like greed and fear get in your way. Come up with a business plan and stick with it: do research to get in or out of the markets, and know the point when you've got to fold and get out.

I'd give this book five stars and recommend it as a required reference book on the shelf of anyone who dabbles in buying or selling on the markets to those who want to make it a career.

This is an excellent choice for anyone that is looking for a book to start out with and learn the basics of trading. The author does an excellent job touching on every topic you will need in trading, some of these are: how greed and fear factor into the markets, how the markets operate, the differences between swing traders, position traders and day traders, the different kinds of orders that can be placed, market or limit, stop order or limit stop order, trading using fundamental analysis vs. technical analysis, and the importance of money management in trading, along with the importance of building a trading system that fits your personality and gives you an edge over the markets.
While experienced traders will get very little out of this book, it is a nice refresher on the psychology of trading and the importance of following your own stock trading system and following your own rules. I rank this book as 5 stars and a must have for traders just starting out, it is a great stepping stone to more advanced books from Alexander Elder and William O'Neal.

The author is very wordy and the book is about the rudimentary basics such as PC specs like how much RAM you need, what is a bar chart, what are the major exchanges, etc. Contains alot of basic information that can easily be found on the internet and even describes in detail how every bar in a price chart indicates a different time period, blah blah blah goes on and on with redundant information just to fill the pages. Reads like a 12th grade essay, wordy and mostly pointless. I would return this book if i do not have it on kindle.

This book is a full-on crash course in short term trading. Although it's designed to educate beginners there's a ton of advanced material in here. Luckily, Alan Northcott breaks down this dense subject matter into clearly-defined subsections and tackles each piece individually. It made me feel like I had a good understanding of concepts that I previously had no knowledge of, like how to place different types of orders and buying stocks on margin. Before I picked up this book my eyes would just glaze over when I looked at a price chart, but by the time I got through the chapter "Caught on the Technicalities" I was actually excited to watch CNBC!

Throughout the text there are short "Success Stories" that are enjoyable to read and that help put the high volume of technical information into a more personal context. Overall, it's a well-presented introduction to an intimidating subject. Of course, there were several sections I had to read a few times (as well as others that were much quicker to read through). I found it very useful that bullet points and lists of key words to know are provided at the end of each chapter. The glossary in the back of the book is also great for quick reference.

I really appreciated Northcott's blunt approach and constant cautions not to get carried away. While I've read other books on investing that emphasize how much can be gained from the markets, Northcott rarely goes a few pages without reminding the reader that thrilling highs can easily turn into devastating lows. (This point hits home especially hard when he discusses the current state of the economy.)

This is easily one of the most useful books I've read in a long time and one I'll return to when making potentially expensive decisions. Hands down, any book that could help me feel confident about tracking indicators and questioning an analyst deserves a full five stars.

For the serious investor, all the information you need to know and do before you make a trade is in this book. It becomes clear that Northcott wants you to become comfortable with the idea of trading and identifies the many challenges that new traders face. He doesn't send the unrealistic approach that you can win every time, but instead explains that you can trade without risking everything if you follow the guidelines in his book. You begin to discover what category you fit into with the different type of traders that are presented in the book and what might work for you using a variety of trading topics and interviews from those who work in the business everyday. Each chapter ends with a summary and a list of important terms filled with tips to become a natural in investing.

Even if you don't invest, you can understand how investing affects everyone and what it takes to become a part-time or full-time trader. Northcott warns the reader to watch out for greed and fear and lets you know what to expect in the industry. Most of what you need to know about brokers, placing your orders, and how to establish a business plan to make your dreams into realistic goals are in this book. Precise information on the different markets and stock exchanges allows the reader to understand more on market makers and market pricing. The chapter on how to view charts is very helpful in deciding on future investments or to understand current investments and analyze stock trends.

Northcott says there needs to be a balance between being safe and taking risks. I'm a frugal person and not one to take a chance, but I might give it a try now. Although some of the information in this book can be presented clearer at times, this book is easier to understand than other investing books. It gives you the tools to make the decisions you will need to make in this profession that will help you to succeed and recognize an opportunity over a downfall.

The Complete Guide to Investing in Short Term Trading is a good, basic book on short term trading. This is no "get rich quick" scheme. Northcott is blunt and to the point about the advantages and drawbacks of short-term trading. He gives a detailed analysis of the stock market - its history as well as the basics of how it works. His style is easy-to-read and straightforward, so you absorb the complex information fairly easily.

This book does assume you have some knowledge of business. It's not going to teach you how to handle taxes from your trading profits, for instance. What it does and does well, is guide you through the different types of trading, giving you the advantages and disadvantages of each. Each chapter gives a bulleted review of the information you should have absorbed from the material as well as a vocabulary list of concepts you will have encountered. The book contains an excellent glossary so that you can review terms easily. He explains how to read charts and trends,

Because Northcott does not encourage taking foolish risks, and is realistic about how one will do in the short-term trading world, he makes suggestions about how to practice what you've learned before you risk any of your own money. Being a realistic author, he also dips into lifestyle, discussing the stress and demands of being a short-term trader.

It was refreshing to read a book on short-term trading that did not seem like a get-rich quick scheme, but a solid analysis of how to succeed in such a demanding field.

I purchased this book hoping to learn how to use technical analysis to aid in choosing winning stocks. It does indeed give what I would consider a very good introduction/overview of some of the most popular indicators, and it offers guidelines on how to interpret what they typically mean. For somebody like me who knew very little about picking stocks or timing the market, I think the book did a very good job explaining these concepts, and I have gained much knowledge.

However, I was a little disappointed by the end that the book did not offer more specific "strategies" with which I could experiment. The book does explain that it does not offer specific "mechanical" type techniques that a trader could follow because [...] cannot take into account the various trading dispositions of every unique reader & then expect one specific method to suit everybody. While this may be true, I still feel that the book could've offered a variety of specific strategies to try out as a place to start as one develops their own trading style.

Likewise, in a few cases it glossed over some concepts; for example, it makes a very brief mention about what the Fibonacci sequence is, but gives absolutely no explanation on how to use it when reading charts & trying to set exit levels. Likewise, while it explains what the different types of stop losses are and why they're important, it doesn't really offer any advice regarding a method to determine how tight/loose to set them (again relating back to strategies that employ Fibonacci).

Another area where the book is lacking is in Fundamental Analysis (FA). It does devote a chapter to the concept & explains that the majority of the book is to teach Technical Analysis (TA). So, I don't fault it for being focused on TA, nor do I fault it for the limited good info it did present on FA, but when the words "Complete Guide" are in the title, I do think it should be COMPLETE!

To the book's credit, the chapter on FA is informative, and provides a good general idea of several concepts with a few "rule of thumb" type things to look for when evaluating a company, but I had hoped to learn more about using FA to help screen which types of stocks I should pick. When I look at the vast amount of Fundamental information offered by my online broker, I feel that this book barely even scratched the surface of FA, and now I must look elsewhere for a better grasp of that type of analysis.

Anyway, overall I feel the book is great pick for anybody just getting their feet wet who desires to establish a good foundational knowledge of the concepts behind Technical Analysis. I do feel armed with some good information, but I'm still not ready to dive into battle until I study more on fundamental analysis. Essentially this book will help you recognize things that tell you WHEN to buy a stock, but determining WHICH stock is not as complete as I would like it to be. Likewise, if you're interested in only day trading then the book has more to offer. I'm more a a swing style trader & therefore would need to rely on FA a little more heavily.

I hate to be too negative, as the book did indeed provide me with a lot of good information. If I could give it 3.5 stars I would, but 4 just seems too much to me. I don't feel that it was enough be called a "Complete Guide" as the title suggests. Likewise, the by-line title states "How to Earn High Rates of Returns Safely". If it had really shown me specifically HOW then I'd say that line isn't misleading, but I find myself left to seek other books to learn specific enough stock screening techniques to even use the TA information it provides.

I realize that there is truth to the fact that there is no "magic formula" when it comes to picking stocks, but I hoped it would at least give me a few "mechanical" strategies as a place to start without having to blindly experiment on my own until I discover my own reliable trading system.

Another thing about the book that I thought was a little hokey is the interviews with other successful traders. Most all of the interviews had anecdotal information, along with the underlying theme that you should be disciplined, etc... [...]. The experts didn't really offer any specific trading strategies. The info is more biographical than anything. Most of them just talked about themselves, shared war stories, talked about when they first started trading, maybe what type of trading software they recommended [...], etc... At the beginning of the book it tries to play this feature up as being something truly unique & special about the book, but 90% of it is just filler, that's all.

I am explaining the downside so people won't be diaoppointed, but I do wish to stress that the book is still a great intro to TA & would recommend it to anyone in my position who is just starting out & would like good foundational info.