Customer Reviews

Four Steps to Trading Success: Using Everyday Indicators to Achieve Extraordinary Profits

5 star:		(10)
4 star:		(2)
3 star:		(1)
2 star:		(1)
1 star:		(1)

 

 

...Well, first of all, this book reveals a method of trading using only market-generated information - price action - no other input, including volume,
is needed. No forecasts, no guesses, no hocus-pocus mystery talk...
Secondly, I like the fact that he concentrates on producing high probability trades. I like to win - that's why I trade. ...BR> Thirdly, after reading his book, I honestly believe that I can use and successfully adapt my $.../Mo ... Basic subscription to building John's indicators into that online charting service so that I can profitably trade those Rydex index funds...I don't need the more expensive charting packages.
Fourthly, I believe him to be a man of integrity - this is of absolute importance to me. I believe this because (1) he is willing to share an eminently successful, crystal-clear, and
easy-to-implement trading strategy with the public, (2) his book not only includes examples of successful trades, but also trades that have not been successful, just like in real life (3) he goes
out of his way to ensure the reader's understanding of the concepts by clear and error-free text reference to charts, clear accurate definitions, appropriate examples, and repetition of past trading technics, and, finally (4) he has arranged his book to have all the necessary textbooklike qualities...including chapter reviews and an index (the "Putting It All Together" chapter is outstanding!) so as to ensure that his readers have every opportunity to learn. Let me say, considering the multitude of overpriced investment books I've bought in which I've found most of that structure lacking, I very much appreciated both the quality and clarity of John's writing throughout the entire book.
I am very happy with the book...I give it my highest recommendation.

I am writing from Italy and I bought a lot of books about day trading. I read Clayburg interview on the issue of December of Tasc and I was striken by his words.
In particular way I appreciated the rationality and realism he shows towards the market, and the way he is at the same time easy to understand while being technical, precise and effective in creating this system trading. An interesting tool for everyone who uses normal indicators as stochastic, Rsi and William's %R. With studies about Support and Resistence. Nothing more nothing less. This is a "standalone" book, the first i think: you don't need to buy others seminars, software or to subscribe to newsletters, chat rooms and give other money away.

Well, I enjoyed the book immensely, and liked the author's concept of the Directional Day Filter. Anyway, he bases his entire system on breakouts against the trend. Using my live market feed, I automated his rules to a letter via a homegrown app, and my losses mounted by the day. I implemented his definition of Support and Resistance, and whenever I broke through these levels, and the appropriate stochastic indicators indicated that I buy or sell, I would buy or sell short appropriately, and the stock would invariably reverse shortly thereafter. His mechanism was not reliable at all. To the contrary, you can get some good info from his book, and trade of support and resistance levels by themselves, reversing position when these respective levels are hit. This makes entirely more sense, and will allow you to profit consistently, contrary to what the author stipulates.

Mr.Clayburg has written a very imformative and helpful
book.His "Daily Directional Indicator" is something I've
never seen before and is quite unique.I have read numerous
books on trading and not one of them has ever touched
on a "trading tool" such as this.Chapter 10 is worth the price
of the book alone and possibly much more.I intend to use this
daily indicator in my own trading from now on to give me
a daily directional bias. I reccomend this book to all aspiring traders.

There are now many trading books available in the market. The quality of these books varies immensely. This whole book really only explains one trading plan- to be used in a short time frame, ie. daytrading. The four steps, in short, are descriptions of the rationale and steps used to enter an exit a market. Many other books will also offer the same. What is unusual and laudable however, is the depth of research that the author had undertaken in order to justify why his apparently logical approach may be used in the timeframe he suggests to make money. Exemplary is the pages upon pages of data on the directional day filter. Few books I know even come close to matching this degree of scholarly depth. The author himself notes that few people will trade using his indicators the same way. What this book allows, when combined with one's own research, however, is sensible and rationale debate of the merits or not of any particular approach, tested objectively, in a way few other books offer. For example, is the `personality of markets' approach, a form of curve fitting optimization? Is using a chart based support and resistance technique for entry really the best way? Most successful traders will already have their own set trading plan- and probably have their own ` four step' process. However, one may have reservations or even disagree completely with the author's approach to trading, and yet cannot fail to be impressed by the outstanding quality of this work.

A great trading book with straight forward explanation.
A simple system that appears to work on a cross setion of markets with no curve fitting using Directional Day Filter & very common indicaters.The use of pivot points as entry/exit , support/resistance is of great help.

This book is the best I've read out of 20 since Janurary 1st.
Mr.Clayburgh starts you out with the very basics, (you might say training wheels) and stays along side of you to the very end.
...
Chapter 8 explains the most important concepts you must throughly understand to be successful with his system. Absolutely no guesswork! I think he has raised the standard in writing about
trading systems. I gladly await any new material he delivers in the future!

This book is a very good book. I have read many books and this one is talking about facts and its telling you what you should do and should not when you daytrade. I stopped trading just to finish the book and improve my skills. The book teaches you REAL methods and techniques that other books glance over. Stochastics and Moving Average explanations are clear. Read the book its not that long and its worth every penny.

Well written,easily understood with numerous great enrty/exit,support/resistance ideas.
The Directional Day Filter helps to get you into the trades most likely to go your way but more importantly keeps you out of the ones with less chance of success.

There are some entry strategies, stop placements, and indictor setups (clayburg method) in this book. It's a good read in a sense that it provided some good groundwork and concept of a trading plan/strategies/tactics... etc. Oscillating indictors don't quite work in a trending market, so if people wants to trade that method (and EXACTLY that method) in the current market, then all they would see are a bunch of indicators in the oversold area. If you want to daytrade using only information from this book... bad idea too, it is far from a complete strategy. Overall, a good book to read, hey, Clayburg knows how to write a book, reader friendly, and alot of hype. So read between the lines and pickup something useful from the book. I give it 4.5 stars for the info, but minus 1.5 stars for the hype.