Customer Reviews

Trading on Momentum: Advanced Techniques for High Percentage Day Trading

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

 

 

This book lacks substance, lacks detail and is merely an exercise in self-promotion. If you want to learn to daytrade professionally, get "The Undergroundtrader.com Guide to Electronic Trading"...
Wolff's book is nearly as crass as his online chatroom, which suggests buying against the trend, in violation of the primary rule of trading: "Trade with the Trend"... there are many better daytrading titles on Amazon.com.

A little history goes with my review, inthat Mr. Wolff also runs a trading room, (MTrader), which I traded in about a year after I began trading. After a short stay at MTrader, I left, simply because I believed that adhering to the patterned strategies of Wolff were a bit too involved and things had to be simpler and faster. That was a mistake and after about a year of alternating trading styles, different strategies, indicators, software, etc., I happened on Wolff's book and out of curiosity, ordered and read it.

Plainly stated, what moves stocks is news about what a stock has just done, is about to do or is expected to do and the relative expectations of the investors and traders focusing on that stock. Wolff has studied news related momentum for years and is what I would securely describe as a master of expectation and price movement potential. There are a number of successful traders out there who cut their teeth on his schooling...a few went on to try there own trade site.

The methods are plainly and simply explained and in themselves, not difficult. Perhaps because of this truth, others may dismiss it, however, if you read this book and think about it, you come to one glaring fact...and that is Mr. Wolff explains momentum trading methods that are based on logic of predictable reaction to news related momentum....there are no lagging indicators...complicated formulas...just logic.

The difficulty is the patience and discipline one needs to apply in adhering to and application of the information.

One more thing...I'm trading at MTrader again because with everything else I've tried and I believe I've tried about everything...I found no consistency...I was either burning-hot....or stumbling. Here, I have found consistency that anticipates what a stock will do based on it's news and the market/sector sentiment at that moment.

Highly recommend this read. I hesitate to state this, but would also suggest after reading the book, you try a week trial at the site to see what you read happening...it would be helpful. Or I suppose if you want to save some money, drop by the site for the trial, (it's free) and decide before you buy if it allmakes some sense to you...

Good Trading!

Momentum stock trading can be one of the fastest and most lucrative ways to make money in the market. This book has good strategies that can help you in your trading efforts but I think it needs to get updated for the benefit of the readers.

We as traders need to constantly keep reading and testing setups and strategies because that's the only way to stay sane and profitable in this business. Fortunatly the internet has some pretty good places where you can gather great information and keep updated with profitable techniques. Some of those websites that I have found to be worthy when it comes to trading momentum stocks is MomentumStockTrading dotcom

When it comes to momentum trading the one thing that we need to keep in mind is that the market will present us with trading and investing opportunities all the time. Not all of them are good enough to consider or even look at. That's why it's vital to know what kind of setups and factors to look for before you enter the next trade.

Once you understand, test and master those setups and factors you can aspire to take advantage of hot stocks consistently either in premarket, market hours and after hours every week.

The book is really like a chat, it doesn't bring anything deep. It almost don't bring any chart or any new technical analysis, and even their system suggestion is week. For instance, when they explain how to use volume to pick a stock, they even doesn't show a volume chart.
What makes the book more frustating is the way it's written, one may feels that it's missing something or the author is hidden something. Moreover they put some stupid dialogs to ilustrate some situations...

The book really lacks substance!

Thus, buy this book only if you want waste your money and doesn't have anything better to read.

The ultimate thesis of this book is that, properly practiced, day trading can be a legitimate business or profession; but, practiced in a cavalier fashion, it can lead to financial ruin. Day trading requires a special type of personality and mentality. Additionally, in order to succeed in the "shark filled waters with other seasoned professional traders", the individual trader needs to be educated, equipped with the right tools, and develop his or her own disciplined approach. The author's purpose in writing the book is to teach the techniques and methods of successful trading.
The book reviews the basic concepts of the market, including the NYSE and Nasdaq, on-line trading, and how orders are routed. It discusses the tools of trading, including hardware and software; on-line chat rooms and their role in hyping stocks; and paper trading. The author describes "momentum" and its various sources, including institutions and on-line traders. Finally, he examines the specific methods, rules and mindsets that make up his market-tested model of "Trading on Momentum". The time of day one trades, sector strength, daytrader strength, and pre-market and after-hours trading are some of the elements that make up the model. The model yields fourteen "Golden Rules of Trading" that the author has developed over a number of years.
Thanks to the information revolution, we are constantly deluged with news and analysis about the financial markets. Wild swings in stock prices, conflicts-of-interest, hype and (sometimes) outright fraud seem to be the order of the day. The author does an excellent job of capturing this new environment, one that makes "buy and hold" an obsolete strategy.
This book is an incisive and comprehensive analysis of the exciting but risky world of day trading. If you wish to trade, but not gamble, read this book - at least twice!

Half through the book I realized what a bad investment I had made. I bought the book looking for something more advanced than the hundreds of introductory books on trading, but with great disappointment, because it is 274 pages of NOTHING!.

Just finished the book and was very happy with the content. I enjoy trading books in general, but when I can pull one or two money making ideas out of a book, all the better. Ken Wolff posts for RealMoney.Com, and gives great ideas to his readers. The book elaborates on many of his methods like playing momentum both on the upside and the downside with a lot of clarity. More than that, he gives great pointers on keeping a journal of trades, measuring moves of stocks and watching the market..

If Ken can't figure out that his dumper strategy is best sold short in a bear market, then I have no faith that his bull market guruship can last into 2002, and the outdated methods in this book prove it. Aside from a few useful comments about tape reading, I'd put the book under the broken table leg to hold it up and give it one star.

I too have traded in the author's room and was sorely disappointed. I watched him lose money hand over fist for over two months. In the end, he (and his stupid daughter) were following my lead rather than the other way around.

I was excited! Ken Wolff's book had just arrived, it was Friday and I had a weekend with no plans. I read the entire book by Sunday night, and after I finished it I was just as excited.

Why the cheerleading? Well, I started daytrading 2 1/2 years ago and after one year I had lost $60,000. I stumbled into Ken Wolff's web site and now, 1 1/2 years later my 60 grand is back in the bank with a very tidy profit to boot. How did I do it, you ask? By using the techniques Ken Wolff has outlined in this fine book. It is that simple.

This is a serious work for the person who is willing to take daytrading seriously and to work really hard at it. While Ken Wolff is a really fun guy, and a joy to trade with, he is dead serious about what he is about in this fine work. This not pie in the sky theory, this is a practical nuts and bolts primer, proven every day by Ken Wolff, and all of us that trade with him. Momentum trading simply works. I am living proof of it.