Customer Reviews

Optimize Your Trading Edge: Increase Profits, Reduce Draw-Downs, and Eliminate Leaks in Your Trading Strategy

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

 

 

Although the initial reviewer is right in a sense, there is material covered in his first book, Mr Yoder is one of only a handful of authors who write about truly relevant issues in trading. Risk to reward issues,
trade management, having a trading plan are the keys to success. Most books focus on trading set-ups with no discussion of the probabilities involved etc. We all have to do our own research to find the type of set-ups that are comfortable for us to trade. There is no escaping it, if you want to profit you have to do your own studies to determine proper rsk/reward strategies according to how often your desired set-up succeeds.
His advice is exactly what the title implies. He imparts the reality of how traders really make money in the markets. Not with big hit trades, but rather with consistent set-ups , proper risk/reward and scaling up as the account increases. Want to make 200,000 a year trading? Then you need to be risking roughly 2000 a trade, which takes roughly a 100k account.
He's worth a read.

Excellent.
For those who have not had their `eureka' moment in trading yet, this book should do it. If you don't find yourself saying, "Wow! Is that all there is to trading profitably", start over and read it again. The book might be more appropriately titled `discovering your edge', rather than `optimizing'. The first seven chapters are very good; there is a little filler material at the end.

This is a short book, because the secret to successful trading is pretty simple and does not require a massive tome. Only a handful of published `trading' books explain that successful trading is all about using a tested edge with correct position sizing and risk control, this is one of them. Yoder knows the subject and writes well.

Successful traders will probably not find anything new here, but sometimes it's nice to reinforce your thinking from a fresh source. I'm deducting one star because he does succumb to including some chart setups, which are an unnecessary distraction from the main message.

In my humble opinion this book is one of the best
books about "successful" trading.
The authors explains in detail that a favorable risk/reward
ratio and not a special setup is the key to making
money. Two or three things are surely rehashed from
the author's previous book, but I like his latest book
much more.

Bo is a nice guy, but he doesnt have the foggiest notion of statistical analysis. And my friends, if you want to optimize your edge...you better know some stats and understand forward testing.

Not as good as his first book.

Master Futures Trading.

Basically a re-hash of the first one.

Buy the his first book INSTEAD of Optimize Your Trading Edge, it's a much better book