Customer Reviews

The Day Trader's Advantage: How to Move from One Winning Position to the Next

5 star:		(12)
4 star:		(6)
3 star:		(1)
2 star:		(2)
1 star:		(1)

 

 

Because of the author's name and reputation, I was anxious to open this book, read and gain something. Within forty minutes of the read, I found myself skimming through the book to find something with some meat in it. Instead, I found the first 24 pages covering "The Psychology of . . .", "Overcoming the Psychological Barriers . . .", etc., etc. Then we go to 8 pages that touch on "Market Analysis & Day Trading," and then, "The Innergame Trading Approach." Mind you, 8 pages, or a little longer than most forewards. The vast remainder of the book is the author interviewing several well know traders about this and that. The questions are general and as often as not the trader being interviewed rambles on in generalities. My impression of this work is the author was evidently long on positions in the market and decided to write this book while he waited for a price move. Conversely, a book I purchased at the same time,"Trade Your Way to Financial Freedom," by: Van K. Tharp is excellent. This book has something to say and information for anyone to consider or incorporate.

I bought the book hoping to learn about day trading. After the first few chapters it became evident I was being taught a lesson in psychology. If you want to learn about day trading this is not where to start.

I reviewed this book before and gave it fewer stars. i reread it a few times, and I must say its better than i thought. the "strategy" section is not much, but quite frankly you will have to find your own anyway, so that is not so important. the psychological aspects covered in the book as well as the interviews are quite good. Trading only has to be as complicated as you want it to be. you can learn that lesson from this book as well as many others.

The weak link to any trading system is the trader. Abell shows traders through charts, strategy, and PSYCHOLOGY how to overcome typical and recurring obstacles. No book by itself can teach a winning trading SYSTEM!

I bought this book with the hope that it will help me in developing day trading techniques. I was disappointed because it contains much repetitive materials mostly about psychologies. I admit that psychology is important but the author does not need to repeat it to make a volume. The readers are interested in how to go about day trading. Really there is very little material that is useful for a day trader. The author presented a lot of charts without clear description of them. There are QA of five day traders, but the contents are about the same, and there are little substantial and practical contents in them. I am very sorry to have bought this book.

Abell has produced an easily read attitude adjuster for traders who fail for psychological reasons. He uses extensive quotes and interviews with other authors and day traders, much like the "Market Wizards" pair. There are allusions to simple trading methods, but readers still looking for a trading technique spelled out in cookbook fashion would be more satisfied with Elder or DeMark.

This book describes the often overlooked psychological aspect of day trading. If you're looking for an explanation of Elliot Waves, you won't find it here! What you will find is an in depth study of the psychy of a winning trader.

This book is very low in content. What you get is a lot of fluffly pep talk. You get one chapter on Abell's Innergame Strategy, which is not very well explained. And most of the books is Q&A with 5 or different traders, who are all pretty much saying the same thing.

Within these volatile trading times(2011)...where there are massive overnight action in either direction...one needs to switch over to daytrading. however as I read this book, it was more of an insight into trading psychology and the timeframes certain traders look at. I recommend this if you would like more insight into trading psychology. I recommend this over "Trading for a Living." It is a Market wizards for day traders.

This is a very good book. I think both beginning and experienced traders will benefit from reading it.I enjoyed the way the author combined his trading strategies with an explanation of some of the psychological difficulties that most people experience and how to overcome them.I would also strongly recommend Abell's other book,The Inner Game Of Trading.