Customer Reviews

Trading With Confluence: A Risk-Based Approach to Trading Equity Index Futures

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

 

 

This book really hit home with me. I am new to trading but have been following the international markets for some time. I've read a lot of trading books but none really allowed me to think about risk. This book showed me that there's more to risk than just stop loss orders. I'm now going to start my development plan as it is designed in the book. It's something I really need to do to become better at trading. I started to keep a trade journal but only used it for tracking results. The best part of the book is when he shows how I can use my trade journal to find where I can improve. It's a bit advanced so I had to read it twice but I am excited about using these changes immediately.
The graduation plan was my 'ah ha' moment where the book shows how to increase my contract level. Before I was increasing after a good day but using different contract levels for different setups is a brilliant idea.
I also like how the author details his setups that he uses. The chapter on setups was also good because I could always use new proven setups. The other books I read only talk about trends and to be sure to use stops. The book gives specific details about each setup and risk reward and not just what I need to be comfortable with. It is very different than most trading books that bore you with chart theory stuff. Really enjoyed it.!!!

I have been swing trading stocks for many years now and have done well over the long term but I did have some trades with large losses. My focus now is trying to reduce my losing trades and manage risk better. I also want to learn how to short stocks now that China markets have approved shorting. I have been reading more `Complete guide' books on shorter term trading and have found this book to be more specific when talking about money management, how to identify trends, and managing risk. This is the first book I have read that gives details about specific setups to use. That was very important to me.
I highly recommend this book for new traders looking to make trading their business. Beginning traders may want to learn basic candlestick charts first since the book is a little more advanced for that.
I met the author, Michael Toma, at a recent book signing and he was very personable. I told him I only trade stocks and he talked to me to afterwards about how to use the same principles for trading stocks that he uses for futures. I'm not ready to make the change to futures yet so that was a very big help.
I highly recommend this book since his risk approach is quite different than any other trading books I have read.

The spotlight of this book is to give you a detailed specific plan for risk management. The book is easy to follow for novice and intermediate investor. It explains that risk management is not just putting stop order and shows you how to use all these tools together to protect your investment. I have been trading stocks for many years. I am still appreciating the concept through Mr. Toma's perspective thought. The more important thing I got from this book is how to live a positive life as an isolated stock trader. Definitely will recommend this book to others.

For me the best thing about Mr. Toma's book is his focus on a corner of the market I like to invest in: equity index futures. I think it deserves a place in any investor's top 25 books on how to set up and enter into this arena. Mr. Toma's experienced propective is well thought out and should be seriously considered along with other authors who write for the novice investor. This book is not and will not be considered a classic by any stretch but has value nonetheless. The only serious flaw I could find in this book is the lack of professional editing done prior to publishing. Mr. Toma is not an accomplished wordsmith and his poorly edited writing style and grammer lead to an uneven and sometimes awkward read which lessens the impact of the good advice the author is dispensing.