Customer Reviews

Precision Trading With Stevenson Price and Time Targets

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

 

 

This trading system is simply a modification of the Rate Of Change (ROC) Oscillator. The difference is that ROC uses 2 closing prices a set number of periods back to determine momentum, while this trading system uses 2 lowest lows separated by a highest high called a regular cycle or in the alternate 2 highest highs separated by a lowest low, called an inverse cycle. The object is to project the next highest high ( or lowest low) through applying the rate of change for the total number of periods between the 2 highest highs or lowest lows. The premise of the book is that the ROC will remain constant for the set number of periods of the previous cycle or inverse cycle as the case may be. If it doesn't then you supposedly have reversal. However the price projection system often is inaccurate and ignores that when price is trending a momentum is lost that price usually resolves in the current direction of the trend.

If you have happened upon this book (not even stocked by Amazon), consider yourself to be fortunate. I have purchased over 60 books on trading and only review those that I consider to be exceptional. This one certainly falls within that category. If you trade, you have probably found that having targets typically leads to better profits (about 80% of the time)and less risk than using a trailing stop. However, I have experimented with various targets like Fibonacci extensions and channel extremes, but have been less than satisfied. This book's approach to selecting targets is very simple and intuitive, providing precise rules that are frequently quite accurate. Unlike some of the other reviewers, I have never encountered this approach to selecting targets in any other book, CD or webinar I have attended. Precision Trading was highly recommended in an online chat room populated by experienced day traders who focus on price action. I was able to purchase an autographed copy directly from the author. I realize that the price of $49 might seem a little high for a 60 page book and could keep some people from buying it. That is okay with me, maybe I should have kept this little trading gem to myself anyway!

short book with examples that shows how to do measured moves on stock or futures charts on any time frame. Clear illustrations. I use the info every day. Excellent for the beginners bookshelf, an experienced trader can understand the info just by reading someone else's book.

The AC=BD tool was magical when I started trading, LOL. Now, I am wiser to see why it never works reliably, well with due respect to JR.

Extend the two parallel lines I see a channel. Never reach the other edge is a market TELL of CHANGE. Add observation of volume ride as the most reliable leading indicator. These are somethings worth exploring.

I understand the reason why noone rates this book. JR has done a great service for us by putting together this concise trading manual describing an elegant straight forward methodology. The pattern has appeared in other books but his emphasis on it and tightening things up from his experience makes it clearly stand out rather than a distraction... refining rough into gold.