Customer Reviews

Trading Secrets of the Inner Circle

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"Trading Secrets of the Inner Circle" completely revolutionized the way I trade, and I simply cannot recommend it highly enough. For those who will read this book carefully and experiment thoroughly with the code, rich rewards await. I hesitated to write this review at all, since I actually don't want a lot of other people implementing the ideas contained herein. This is mainly just my competitive spirit, but then I realized that only about one in twenty people who do read the book are going to take the time to guarantee their own success by paper trading the systems before putting real money on the line. Because despite the wealth of valuable information contained in "Trading Secrets", the truth is that you still must fine-tune the parameters a bit (or put in a volatility filter here and there) and then paper trade for a half year or more in order to have the confidence to handle real life drawdown without jumping ship just before a major equity pop. And believe me, these will happen as soon as you think something doesn't work and give up at the worst possible moment. On the whole, Andrew Goodwin's systems are the most theoretically sound and downright robust I have ever seen. Bear in mind that this guy worked for the legendary Victor Niederhoffer, so he definitely has his trading resume in order. Before reading "Trading Secrets", I tried for three full years to daytrade stock index futures and lost THOUSANDS this way before I realized that I just couldn't compete with market maker shenanigans and my own sheer lack of emotional control in that incredibly fast-paced and difficult arena. But then I switched to short-term swing trade systems like those given in this book, and have done much, much better. Most of the systems here hold from two to ten days prior to exit. And by the way, you can substitute buying options (calls or puts) in place of going long or short on stocks and index futures -- this method is not specifically addressed in the book, but may be perfect for those who are short on margin. Although the author includes a lot of Easylanguage code for Tradestation users, you can readily adapt this to other software platforms if necessary since the rules are clearly spelled out in the text. One more thought: at first glance, this book may appear overly simplistic and short on content...don't let that fool you. For those who are ready to hear its message, "Trading Secrets of the Inner Circle" could be nothing short of a revelation on how successful trading *really* works -- it certainly was for me.

In this book, Goodwin reveals the secrets that made him millions in short term trading of stock index futures. This stuff actually works. I can't believe that it was actually published in a book. The other trading books are filled with cliches and impractical ideas that go without rigorous testing. This book gives away some good methods that people usually don't sell because they are making money off of them. It's a steal.

This book is a must for anybody that has a tradestation and needs to step up from the regular training books, it takes you in to the mind of a true market wizard and gives an insight in to just what the pro's are looking for. when you load the code remember that a lot pro's use options to control risk and not stop's so if you are new at this some of the drawdowns may look a lot worse than they are. Great book !!!

This book was written in 1997 and contains
effective systems for that time. But markets have
changed since then. Most of these systems use
end of day indicators and only buy at the opening or close.
Other systems are dated. (One of the
systems is based on the discontinued T-Bill futures contract.)

But for someone new to strategy trading, the book does
introduce some interesting concepts and shows how
Tradestation can be used effectively for backtesting.

Pattern2 and Pattern3 has the same code. the publisher(Trader's Press) is the one to blamned.