Customer Reviews

DeMark On Day Trading Options

5 star:		(51)
4 star:		(2)
3 star:		(3)
2 star:		(2)
1 star:		(11)

 

 

This book, which is prefaced and praised by Lawrence G. McMillan, who is himself quite an authority on options, is neither an introduction to options, nor is it a technical guide or text covering the topic. An introduction would not offer advanced indicators and concepts, which this book does, and a technical guide could not be read by a person who hasn't any previous knowledge of options, but this book can.

The first chapters of this book are for the reader who has never heard of an option before. Then the book moves to subject matter that is useful to all readers, and it finally ends with advanced methodology which is in easily understood, non-technical terms, and is available for the savvy option trader and the novice, who by simply reading this book has become just one notch down from the savvy investor.

I would highly recommend this book to both the absolute novice who has nothing more than an interest to learn about options, and also to the reader who is well-seasoned in options (day)trading. The book may not be 100% turnkey, but the techniques discussed in the book are easily applied, and have much value.

It's just another indicator(trading with setups). I've backtested it, and found his nine day setup method no more or less accurate than RSI, and stochastics. What was most upsetting was the nine day requirement for reversal was later in the book sort of taken back in the "size matters" section, so you couldn't really enter the market safely on day 9. I checked this with cattle charts and hogs,etc. and found I would have lost money if I had blindly entered the market on day 9. Trading with this indicator if used properly seemed to parallel signals with other popular oscillators. By modifying the "setup" to more than 4 days prior, it may be possible to parallel moving averages. The methods are similar to other methods in that it is not right all the time. In fact, DeMark fails to give us the percentage of being right from wrong. This is no magic formula. Like other indicators, the more often the signals are given, the more bad trades there will be, so good money management is crucial as always. What is appreciated is that DeMark, in all his work, teaches you how to read the price bars themselves as if they were indicators generated by computerized functions. I recommend the book for this reason alone.

I work on the trading desk of a very large institutional brokerage. Previously, I traded using my expereince and intuition. About a year ago I was introduced by my Bloomberg representative to the DeMark Indicators. They have been responsible for changing my entire trading approach. I now follow a prescription of trading rules and am able to make definitive and fast decisions without any emotional involvement. To write that my performance has improved is trite and empty--my performance results have skyrocketed! I now cannot trade without these tools.

I enjoyed this book immensely and since I have been trading for over 30 years and never read anything approaching the uniqueness of this book. I also read with much interest the author's other two bboks. However, the reason I would prefer not to assign a full 5 stars is because I truly believe the author knows much more than the general (and sometimes specific) ideas he posits in the books. I realize that the author has no obligation to share more than the very helpful ideas we find within the pages of the book but it would have been much, much more useful to include more information. I assume that for the small amount of money invested in the books, he did not want to provide more information. Also perhaps the size of the book would be volumes. Nevertheless the new, original ideas included in the book are compelling and very helpful.

The systems presented may have some merit, but they provide very little historical data to back them up. Anybody considering using these "TD" methods are urged to back-test them before applying them. After testing the methods myself on historical OEX options data, I am not yet fully convinced that they contribute much to the field of trading.

Aside from the content, the level of writing is at 5th grade level at best. The authors simply can't write. This was the most unreadable piece of garbage I've ever had the misfortune to read. The whole book could be condensed to a 12 page brochure and still not miss a single topic. The other 330 pages are just worthless filler which add no value to the subject.

This book is a complete waste of paper and natural resources. I could post all the methods on the internet and you would not even have to scroll the screen down to catch every topic covered in this sad excuse for a book.

While I may have been critical of this author's previous book, I realize I was totally in error. I was convinced I knew everything about how markets behaved. I was obviously wrong! I was enamored with my own biased opinions regarding market expectations. Eventually, I admitted to myself that I was ill-prepared to trade successfully and was deluding myself. The litany of losses I endured was a testament to my trading failures. It was an admission that I was afraid to acknowlege. My fellow technical friends convinced me that I had been incorrect in my judgment of the previous DeMark book. Upon re-reading the book I borrowed from them I realized that I had been unfair and was now prepared to study the material with an open mind. I decided to read this book as well. Although the previous book is definitely a major contribution to the annals of successful trading, this book seems to be much clearer in expressing the author's views. Despite the title's reference to options, this book has application to markets overall. I admit my initial impetuousness and now am openly recommending this book to all my cohorts in the technical trading societies, as well as to fellow participants in newsgroups related to investments. This book will most definitely be a key reference book in a trader's library for years to come.

I have a degree of apprehension when I recommend this book as being revolutionary in the realms of trading markets. Most books within this arena are devoted to the same, redundant useless trading techniques. These methods are unique and more than that they are effective and produce consistent profits. I have a bloombeg and a CQG trading machines and this book makes the methods easier to trade. Regardless it is imperative that there be some understanding of the basis and formulation of these revolutionary trading tools. Bravo Senor Demarco

I manage big portfolio at fund in Milan. This book has helped our trading performnce immensely. My compatriots are envious of my performance and aree now studying this book as well as other two Mr DeMark books. Also the Bloomberg and CQG and Thomson machines make this trading effort much easier as I am not required to manipulate the numbers and do many mathematical equations.

I have show these methodes to my professionals who report to me and they enthusistcally rejoice in their usage.

My name is carlo and I work for Milan's largest fund.

I head the trading desk for over the counter sales at one of the largest institutional brokerage houses and I require my traders to be conversant in these studies before I allow them to trade our firm's capital. The models explained in this book have earned us big returns and have help us avoid the 'bullets' many times. These are the best tools we have discovered on Wall Street. We are not adverse to recommending their study because they take time to learn and most traders are innately lazy!

Prior to xmas and on my birthday I received a copy of DeMark's 'New Science of Technical Analysis'. I have been a professional trader for over 20 years and currently head up the trading operation at one of the major Wall Street firms. I thought I knew how market operateed and I shared my expereince on TV, radio, and in newspapers for years. Upon reading this book and as well ass the other two in the DeMark set, I have gained a profound new awareness how markets truly behave. The author is beyoind peer in defining and describing the intricacies of price behavior. What an enlightening series of reads.