Customer Reviews

Market Trading Tactics: Beating the Odds Through Technical Analysis and Money Management

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

 

 

Like a previous reviewer, I was not impressed overall by the book. It has some interesting things to say, but many of the techniques are either very common or don't fit in my trading style. The section on MMA is very interesting though, and it has been incorporated into my trading plan, as I find it very interesting.

The complaint about the authors use of metastock in another review was rather silly, in my estimation; the use is simple enough that any reader should be able to look at the formula and decide they can implement that themselves rather easily (or maybe decide that the formula is not important, and they have elements in their trading plan that already do it).

A word of warning, this is not a day trading book. If you want something intraday or extremely short term (a la 1-5 day swing trading) this book is probably not the best choice.

This is the authors reply to the Singapore review. I trade for a living and the MMA is one of my core indicators. It has been presented in real time at many Australian, Asian and US workshops and is used successfully by many traders and some fund managers. We also show the operation of this indicator in real time in our weekly newsletter. To suggest that chart illustrations are 'fudged' is slanderous and incorrect. With more experience in TA and with modern charting packages, he would note the changes in scaling in the two extracts and still be able to match the dates of the identifie turning points. The depth of market information for many Asian exchanges is readily available from several Singapore based web sites.

One of the many benefits of this text is the breath of the subject matter. A first read will tell you the the author knows what he is speaking about. The section on Gambler or Trader is worth the price of the book. In fact each chapter has something for the trader or investor. There are many gems here. You only need the experience to realize they are right in front of you. Buy it.

Daryl Guppy explains how he uses charts and trading software in the world's financial markets. He presents pointers on how to finance and equip a successful home-based trading operation, and he provides ready-to-use formulas along with other valuable tools for exploring, developing, exploiting, and managing trading opportunities wherever they present themselves. A must-read for people trading at home.

I've read many trading books using Technical Analysis and have been practising TA for 4 years now. The author does not bring anything new to the field. His heavy reliance on a certain popular charting software for his stock searches make the approach useless for readers without access to similar software and market information.

Similarly, the section on depth of market is also difficult to implement by most home traders who do not readily have access to this data (ie most Asian countries). Most of what he talks about, typical chart patterns like gaps, triangles etc and even his techniques in money management and market psychology, are nothing new and are available in almost every other book on TA.

Initially, I was interested in his MMA approach but I was suprised that the charts in the book seemed fudged - entry and exit points are inconsistent from one chart to another and seemed to have been moved closer together to make them coincide! Additionally, I cannot see how the author says that his MMA has very little lag since, in practice, the MMA will only give the user a meaningful signal after the market has moved too much away from him. If it is possible to trade with hindsight, the author's MMA looks beautiful.

Overall, I wished I had spent more time finding a better book on market trading tactics. The cryptic chapter names tries to hide the fluff from the book browser in bookstores. My advice is flip through the pages before you buy. There are other better books.