Customer Reviews

The Day Trader's Guide to Technical Analysis: How to Use Chart Patterns, Level II and Time of Sales to Profit in Electronic Markets

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

 

 

The good points: first, the book's emphasis is on trading the open, offering a straight forward strategy for playing momentum type gaps. Second, the book has a thorough review of TA basics filtered by practical and experienced advice. Third, there were several odds and ends (like NASDAQ having two data feeds, do the S&P Futures really say anything, etc) that were indeed helpful.

The not so good points: while, its all there, you have to really read the text carefully to extract what you need - meaning it could have been better organized for flow in some chapters. Second, a week in the life "Trading Week" would have been more satisfying if it had been two weeks long and not one (the author might disagree).

All in all, a rather decent book that I value for its level-headed, lets stick to the basics, here's what really works kind of thinking.

Chris Lewis has written a good book on some of the more heard about, but little understood points of the stock market. It is an easy and enjoyable book to read. It won't make you the next W. Buffet, but it will make you a more versed investor.

There is much useful material, along with a thoughtful approach to creating a daytrading discipline, in this book. I don't fully agree with (and wouldn't expect to) all of Lewis' statements, and, as you might expect, given the changes in the trading environment over the last couple of years, many of his methods and observations are arguably already out of date, but others still apply, and his overall philosophy, perspective, and attitude are probably more important, in my opinion, than the particulars of his personal approach as practiced in and around late 2000. The text includes numerous clear, concrete, and detailed examples, though you may have to look past an L2 screen with a stack of QCOM buyers at 343 13/16 (I just never get over mania-market prices) to receive the message.

I lost money using these strategies. Buy Steve Nison book if you want a good book on TA. This one just doesn't measure up.