Customer Reviews

The Taylor Trading Technique

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

 

 

I can't recommend this book in general because most won't get it. But for the trader who has been around 5 or 6 years and is still struggling you might have the experience and depth to recognize "The Taylor Trading Technique" as one of the best method books available. Reading this book is difficult so great effort needs to be put forward.

On a side note as advised in the publishers comments I read Raschke's and Angell's section first and this almost stopped me from putting in the effort to try to comprehend the actual technique.

1) Do not be mistaken: Taylor's language usage is 3rd class and really 'uncomfortable' - but hidden beneath the surface is a brilliant mind at work.
2) It will ask hard study - it is not a 'reading' book, but one to disgest slowly. I am afraid to say that most 'interpreters' did not spend enough time with this book to grasp its content correctly.
3) This is a fine method to keep you 'alive and healthy' through all types: trends, congestions and extreme volatile conditions.

The Taylor method was focused on capturing the overall trend for the day, and avoiding the noise. Most of the reviewers here seem to underestimate the value of this approach on today's e-minis. It's a horrible read but the material is worth it's weight in gold. If you take one thing away from this book it would be the value of the prior day's range in terms of watching pivot points.

Funny how many have overlooked this treasure. At first glance,it appears quite dated and difficult to follow. If nothing else this book is worth a fortune for buying bottoms. That's right,buying bottoms.

I recommend this book to everybody interested in short term trading or adding a short term method to a intermediate or long term one.

Linda Rasche is wrond saying that chapters 2, 3 and 4 should be skipped as I think this is the essence of this book. When you make up the book as per Taylor's instructions reading other chapters becomes much easier to understand because you start to see what Taylor focused on and what terminology he used.

Difficult read but well worth the price.

Written originally in 1950 and meant to trade grains , this would be mostly useless to today's markets in my opinion. It is a classic and may have had some value over the years , but I think one would be better served to try other techniques and read this just as a curiosity.

This book was transcribed from the author's notes and it very poorly written with many error that an editor/publisher never bothered to correct. The technique itself was a manual used by the author to trade grains and stocks back in the 30's and 40's. However, there are two "supplementary" articles in the back of the book that take a modernized approach even though they were written in the early 90's that are quite worth the price of this book.

This book contains only one chapter that makes sense. Everything else is outdated system that was popular when charts were not available.
If you want to learn more about trading read Toby Crabel's articles or some John Ross.

The old saying is the harder something in the market is , the more likely it dont work.This is a lot of mombo jumbo.It may have had its time but the s&p moves more know in 5 min then it did all day back then.

50% accuracy is not as bad as the former reviewer suggest, provided you win 3 times the amount you loose. even a 2 to 1 winning record would make a 0,5 dollar net profit on every dollar risked in the long run.

So if you combine this technique with a good money management system such as optimal f ( The Mathematics of Money Managment by Ralph Vince) it could make you a billionaire.

So the question is: how much expectancy does this system produce?,

The answer is not so straightforward. Backtesting and stop loss optimizing might be necessary to answer this.

Francisco