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9 of 9 people found the following review helpful:
5.0 out of 5 stars
Honest, Practical, Modern, Complete - Must read for traders, May 28, 2011
Mr Rosembloom has written a book outlining the essential principles of technical analysis, properly updated with new concepts developed after the first books on Dow Theory were written almost a 100 years ago. In the 1980's, when I started, beginners in Technical Analysis were asked to read Magee and Edwards, together with supplementary reading of Rhea. Then came John Murphy's book which was a pathbreaker. Murphy's book soon became essential reading, but did not replace the Magee book. Now, 'The Complete Trading Course' by Corey Rosembloom, may well become the first book to be read, with stdents asked to decide their specialization after reading this book. The book is complete since it covers most significant aspects of technical analysis. It is honest because it repatedly highlights the failings of most indicators and setups. This honest approach makes the book different from many other generalised technical analysis books. The book is modern since it often refers to many of the new writings in TA. Corey has explained in detail the concepts of positive and negative feedback loops which I think adds value to the current body of TA thinking. His chapters on edge, four basic trade setups are useful for new traders (they are useful experienced traders also but for the new ones they are vital). This book is not about trading setups. It is honestly titled as 'The Trading Course'. It is a complete course for the 21st century. The book should be read by all budding traders. It is useful to experienced traders since it highlights in easy to understand language, almost all important trading concepts and ideas.
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16 of 21 people found the following review helpful:
5.0 out of 5 stars
The Complete Trading Course (A Book Review), January 19, 2011
This review is from: The Complete Trading Course: Price Patterns, Strategies, Setups, and Execution Tactics (Wiley Trading) (Hardcover)
After reading Corey Rosenbloom's, The Complete Trading Course, there was one basic theme that I took away from the book: these days, there is no excuse for your average every-day investor not to at least make an attempt to manage some of his/her own money. And I also couldn't help but hope that many would immediately add Corey's book to their trading library. The difference between today and twenty years ago is the arrival of the internet and the vast array of tools and information that can now be accessed by just about everyone. Couple that with what Corey achieves in the writing of this book, and you have the building blocks for a solid foundation on which to build a profitable trading strategy for today's markets. SMB has gotten to know Corey very well as he is a frequent lecturer across the country and shares his trading knowledge daily at his invaluable blog. Corey is a true scholar of the markets and as you read you feel you are in his trading classroom. I think the closest analogy that I can make for this book is that it's similar to sampling h'orderves at a dinner party. There are many different options. All of them look delicious, but as the saying goes, "to each person his own." What Corey does in this book is survey all the different options with regards to technical trading, leaving it up to the reader to determine what works best for them. This is a fantastic way to teach as we do best at what interests us most. Delving into the book a bit, Rosenbloom goes through the usage of indicators, how to use them, and how they are CALCULATED. Most trading platforms come with hundreds of different indicators and 99% of traders who use these indicators have no idea how they are calculated, yet they still use them. While I (and SMB for that matter) don't use very many indicators, I think it's very important to know exactly what I'm using while I'm trading. Corey also gives the reader insight on the proper usage of Fibonacci retracement as well as a brief overview of Elliot Wave Theory. You might say this book is an enjoyable master's course in all things technical analysis. For this information to be available in "Complete Trading Course" today can only be viewed as a win for every day investors. To the beginning trader, it can be overwhelming to know where to even start. Corey does a great job of breaking down the decision making process that he makes when placing a trade. From analyzing trends, to understanding the importance of momentum, and finally tying it all together with some straightforward setups near the end of the book, this is definitely the next book to go get for library of the every day investor. Andy Cole Trader, SMB Capital
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11 of 14 people found the following review helpful:
5.0 out of 5 stars
How to trade using technical analysis techniques and methods, January 19, 2011
This review is from: The Complete Trading Course: Price Patterns, Strategies, Setups, and Execution Tactics (Wiley Trading) (Hardcover)
Perhaps a more accurate title for this book would have been The Complete Technical Trading Course. That is what we're talking about here - a front-to-back approach to applying technical analysis to trading. This is not, however, a survey book that attempts to walk the reader through all the various sorts of technical methods and techniques. The author, instead, focuses on the tools he actually uses in his own market analysis and trading. The book starts off talking about trends, both in terms of defining them and in terms of indentifying them. It then progresses into the subject of momentum, and that is followed by a chapter focused on market phases. All of this lays the groundwork for the second part of the book where it gets into strategies and tools. These include candlestick charting, price pattern analysis, Fibonaccis, and Elliott Wave techniques. The final section of the book focuses on trade set-ups and strategy execution. It should be noted that this is NOT a trading system book. It's about analyzing the markets and identifying good set-ups. If you're looking for something mechanical you'll want to look elsewhere. Also, the author is very much a stock market oriented trader, and that is reflected in the text. This doesn't mean the methods and concepts are not applicable to other markets, however. Overall, I'd say this is the exact sort of book I'd recommend to those readers interested in seeing how technical analysis can be applied in trading. It's well structured and loaded with examples. I have a personal pet peeve with the standard internal formatting of Wiley Trading books, but that's not the fault of the author and it doesn't really detract from the message or lessons. Oh, and the bibliography is huge for those interested to extending their studies. Bottom line: If you want a nitty gritty detail-oriented book on how to apply technical analysis techniques and methods, The Complete Trading Course fits the bill quite nicely.
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