Customer Reviews

Stock Patterns for Day Trading

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

 

 

I've spent in the neighborhood of $500 on daytrading books in the past 12 months. If I could only purchase one daytrading book this would be the one. Over the past year of daytrading I've learned the three best tools for timing trades are 1 - real-time charts 2 - level II quotes & 3 - time & volume of sales. This book has more examples of charts than the other 10 daytrading books I own combined (that doesn't include Barry's second charting book which I also highly recommend). This book is all about keeping things simple. Forget about stochastics, MACD, & all the other things recommended in the Compleat Daytraders I & II books. Barry believes in the KISS method. Keep it simple stupid (thats my paraphrase of what he recommends).

Part of my enthusiasm for Barry's book has to do with my trading results before & after reading his book. Because his book was more expensive than others available I purchased some of the less expensive, introductory, daytrading books. I started trading & over about 7 months lost approximately $7,000. In the past 5 months (since purchasing Barry's book) I have become more patient waiting for the correct chart formations & have become a profitable, part-time daytrader. The $7,000 loss I had 5 months ago has turned around and become a $53,000 gain.

Some of this turnaround is naturally a result of my maturation as a trader. Everyone writes about having to pay one's dues, so to speak, to get an education in daytrading. I certainly did. However, if I could pinpoint THE major turnaround in my trading activities, it would have to do with reading Barry's book.

Can I give this book six stars?

I purchased this book based on the glowing reviews that it had received. I have a different opinion after reading it. This is what you receive for your 95 bucks: advice to buy breakouts and about a hundred charts showing what breakouts look like. I believe you can get this knowledge free on the net. The vast majority of this book is pictures of charts that show breakouts. A more reasonable price for this book would be 19.95. At 95.00 it is way overpriced. If I would have looked at this book first at a bookstore, I would not have bought it. The value is not there. If the book was priced reasonably, I would not be writing this review.

Can this book make you a better trader? Perhaps, but there is free information on the net that is better. Another reviewer represents the daytrading university. I looked at that site and it looks like the 69 bucks for 4 months enrollment there would be money better spent (disclosure: I have nothing at all to do with them, I might enroll if I can get my money back for this book)

Before you spend your money on this book, buy Tony Oz's book and Dr. Elder's "trading for a living". In my opinion these are two far superior books. Both of these high priced books are well worth the money. You gain knowledge that is not available anywhere else.

I hope the author does not take it personally, but when you price a book at a hundred bucks, you better deliver something very special. If you are thinking about buying this book, see if you can look at a copy first at a bookstore or library before you decide.

Perhaps my expectations were too high, but I thought that this book would include numerous day trading patterns. The main advice given is to buy the breakout after the price has been steady for a period. The book does have a lot of good charts showing setups to stay away from, which is why I gave it 3 stars, but I didn't think that it was worth the price.

I've bought many books on investing and daytrading, and this book, along w/ the advanced volume, are by far on top of the list. Barry gets right to the point, no B.S. here. The books are loaded w/ actual charts so you can see (not just read) how the actual setups unfold.

Get this.....I emailed Barry w/ a question, and he called me a couple of days later, spending more than 10 minutes w/ me on the phone. (After the market was closed of course! ) How many authors do you know that would've done that!

Although the book does contains some useful information, it could have easily been sold as a daytraders handbook of some kind for much less. 1/2 of the book is illustrations (overkill in my opinion). Later parts of the book simply repeat information presented in earlier parts of the book.

This could have easily been a 75 page handbook for [less money]. In my opinion, the [book is] severly overpriced. Because of this, I give a 2 star rating.

This book is great for anyone who wants to seriously trade stocks for a living, and it covers many crucial topics for persons just starting to make money day trading.

Once you are in the trade, Rudd does not just leave you to fend for yourself.

This book is about as close as you can get to understand how to make day trading successful.

I found this to be an honest and detailed look into the mind and procedures of a trader.

All in all, I have to give a strong recommendation to this book. It is well worth the money.

This book is an excellent one as a rich TA material you can count on, but the layout and chapter display is very poor especially the handwriting in the charts..! I didn't expect that in expensive book...!

Both of Barry Rudd's books are specific and advanced, the "genuine pro trading stuff" that's so hard to find among all the fluff out there. Along with Tony Oz' Stock Trading Wizard, Murphy's TA and Nison's Candlestick books, Barry Rudd's two Stock Patterns for Day Trading books are essential reading, and we recommend them highly at www.Daytrading-University.com for all our traders.

I am a tough critic, it is difficult to find practical and useful day trading books out there, too much theory and basics in most of them. Rudd's books are the only ones I've found that are packed with high-probability advanced intraday chart patterns (not simple flags and pennants) annotated with traders' notes explaining the trade mechanics.

Rudd's books are in the top 5 of all day trading books I've read (I've read over 30 daytrading books so far). These books are terrific, and I feel comfortable recommending them without hesitation.

If you like an over sized book with large detailed day trading stock patterns on practically every book page, then Barry Rudd's books are a must. He details 6 minute chart patterns to show you exactly what to look for. While the price of his book is higher than others...well, you get what you pay for. You should also consider his second follow up book, "Stock Patterns For Day Trading Volume II" with even more examples.

---J. Michael Pinson, Founder MarketMavens.com