Customer Reviews

Sniper Trading: Essential Short-Term Money-Making Secrets for Trading Stocks, Options and Futures

5 star:		(2)
4 star:		(2)
3 star:		(0)
2 star:		(1)
1 star:		(7)

 

 

It's too good to be true and written by a proven dishonest person.

Proven background of the author's dishonesty can easily be obtained from publicly available information from the Commodity Futures Trading Commision. In particular, CFTC Docket No. 02-08 was provided for the public to view here:

http://www.cftc.gov/files/enf/02orders/enfangell-order.pdf

Would you want to follow the advice given by the person addressed in that CFTC Docket? hmmmm, don't think so

Guys
i bought angells book couple of weeks ago, and read it thouroughly,its nothing but a complete nonsense and full of rubbish.
Mr "TRADER" (george Angell) tries everything in this book to lure you to the idea of buying his so called "LSS Day trading systems"
If you dont believe me then go to CFTC (commodity futures trading commision) web site and find out about him.He has been severly charged for his misrepresentation of his Lss system and has been awarded a penalty for mail order fraud.
Good thing i only read the book and didnt trade according to this mongrals ill fated ideas...

Every idea this guy has for trading does not work. Moreover, the book is supposed to be about trading stocks and options, as well as futures, but the whole book is about futures.

He basically says that markets trade in two identical cycles in both the morning and afternoon. So the market is supposed to go up or down in two stages in every morning and afternoon. You wait to see what the first stage is, then enter to catch the second one, which will either last as long as the first or will rise or fall as much as the first. It doesn't work.

The book is just a complete waste of time.

1. There is obviously a credibility issue with Angell getting nailed for telling half truth in marketing the LSS system in the late 90s. The book is not entirely about the LSS system though. I always take the cautious track when someone try to sell me a profitable system.

2. I agree with the other reviewers on the contents. The book is rather unorganized(in many chapters) and there is a lot of cliche repeating through the book. Yes, market wizards are better read if you want something along that line.

3. Many of the claims were not backed up with tested results. If that doesn't raise your suspicion, I can sell you the Brooklyn bridge at a pretty good price.

4. There are the momentum forumulas one reader suggested. Yes, play with them and learn anything you can before risking any real cash. I am not certain it offers more insight than other existing indicators but I keep my mind open on that one.

5. As to the simplicity of a two legged move, yes, I laughed when I first read it. However, you shouldn't take something for granted just because it is simple (Many successful traders use simple system which they have lots of insights on). The key in this matter is how well that two legged breast work in action which the book didn't offer any solid evidence.

And some of his rules are leaning towards the discretionary side which makes the system less repeatable and objective.

This book is one of the top ten books on trading & investing that I've ever read. Mr. Angell has given the retail trader a real gift in terms of being able analyze the market based on price action (which is the final arbiter of value). If you work with the methodologies and formulas in the book, lay them out in a spreadsheet, track the market by its Oscillation in combination with increasing or decreasing Momentum while keeping an eye on the 5 and 1 day Strength measurements and initiating trades in the buy envelope, sell envelope or at the pivot point (long or short based on market momentum) there is a very high proability that you will learn to trade extremely well. This of course, will lead to making a substantial amount of money.

I recommend purchasing this book and the workbook, setting up your spreadsheet formulas and tracking your commodit(ies) for a period of a month via paper trading while you figure it out - You MUST keep good records and track the information in a spreadsheet so that you can create a good historical understanding of the market's price action in relation to the differnt value measurements. (I'm using it with the E-Minis, but I'm sure it will work for any commodity).

Note: (It took me a total of about 6 months of sitting in front of my screens and analyzing the market movement to put it all together-so, there is a learning curve, but believe me, it was worth it).

Good Trading and Good Luck!

This book is unfocused, and what little information there is only describes a simple "two-leg" trading system. The author claims that this system is proven by historical data, but doesn't give this data. A publisher like Wiley should be ashamed to put out such trash by an author who has been sanctioned for scamming investors in the past. For the cliche (but true) trading advice given in the book, you'd be better of just re-reading Market Wizards.

An old friend of mine asked me to read this book for him that was a gift years ago. I have been trading for over 5 years. I gave it a spin. UGGGHHHH!!!! What garbage!!!!!!

If this book ever was legit or had any validity, it was long before the volatile markets of today. Overall, the methods described in this book are to be met with extreme caution. If you are actually foolish enough to attempt them, you had better paper trade them for at least a year before risking your own money. I paper traded them and I had less than 10% winners. Yes, 90% of my tested trades failed.

There are better, more current options for you. SKIP THIS!!!

"Sniper Trading" is a book I would highly recommend for serious traders who are intent on trading the markets as a career. For me, this book acted as a catalyst to bring together a number of different subtle concepts which I had intuitively sensed for some time, but never really put together into a coherent whole. Namely, the idea of using day of the week bias combined with Gann's notion of market symmetry was quite a revelation, and this has already paid off by notably improving my trading success rate. But Angell doesn't just present this material simplistically. Instead, he adds a great deal of personal insight and some novel variations and methods that make the book a one-of-a-kind gem. I bought "Sniper Trading" about five weeks ago after twelve straight months of losing money day-trading tech stocks. I began utilizing the ideas immediately, and since that time (in the last month) I have had an 80 percent success rate in my daily trading, and that's with over 150 trades. You can't just pick up this book and expect to make money, though. If I had not had that year of experience under my belt first, I don't think anything could have helped me to trade better. But if you've already been trading awhile and are looking for an impetus to propel you on to bigger and better things, this book may be just the ticket. Thanks, George, for a true masterpiece!

I have read and studied many trading methods over 10 years. I am curious about this author so bought a few books from him to read. It's a waste of time and money. Totally agree with those who voted 1 star for this author. Trading today is not so easy and too general as this author described in his books. So, newcomers be aware!

I find the book enlightening. It can be a bit repetitive, and some of the information is not that well organized. However, the content is there. Some of the pages have very concentrated content, you have to read them several times because there are so many concepts presented. Apparently the pay-by-mail LSS system he sold was marketed somewhat dishonestly, but that doesn't mean he's not an excellent trader. I find this book helpful in identifying mistakes and broadening my understanding. It is worth noting the book focuses primarily on futures trading in its examples, however the concepts apply to trading in general. This book is definitely not a waist of paper as some of these reviews seem to imply. I purchased this book after reading in it in a bookstore, if you doubt its content read in it first. Just my thoughts.