Customer Reviews

Trading Systems Secrets (Trade Secrets Ser)

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1 star:		(2)

 

 

The Systems don't hold up if you test them in different timeframes. His best system, the "BUY Monday System" actually looses money if you allow for 1 tick of slippage. How likely are you to get filled on the exact open in the S&P futures? Never. I went to this guy's seminar, and it was more of the same- He gave all these glorious exapmles and then when you try them yourself, you see that it was just a specific timeframe they worked in. The bottom line is the guy is a real idiot. Many of his systems don't even make sence, "Buy corn on Tuesday at 11:00, sell on thursday at 1:00". Just because that made money from 1993 to 1996, dosent mean you want to trade it. I will prove to you that this guy is an idiot, He admitted that he never trades any of his own systems, he makes all his money from selling the systems and books, he actually admited that! Don't waste your time or money with this book.

This book consists of about 80 pages, half of which are copies of TradeStation charts and simulations. The rest is large print with very little substance. This material might make a nice appendix in the TradeStation manual. If you don't use TradeStation, it's of no use to you.

If you are looking for a good book which will help you develop your own trading system, I would recommend: Beyond Technical Analysis by Tushar Chande

This is a great little book for a beginning commodities futures trader, someone like me who wants to know the "ins" and "outs" of existing systems, and maybe wants to develop his or her own trading system somewhere along the way. I picked up this little book one night after an especially difficult day, intending to skim it, and lo and behold, an hour and a half had gone by and I was disappointed that I had read the entire book. It was humorous, and it was easy-to-understand, written for all of us laymen. I was thrilled to find the trading system, Buy Monday in this book. I had heard about it for years, but did not realize it was still in print. If you have been looking for One Night Stand, it is included in this book too. Yes, I was grateful to find this little book on my end table! You will be too!

This is a great little book for a beginning commodities futures trader, someone like me who wants to know the "ins" and "outs" of existing systems, and maybe wants to develop his or her own trading system somewhere along the way. I picked up this little book one night after an especially difficult day, intending to skim it, and lo and behold, an hour and a half had gone by and I was disappointed that I had read the entire book. It was humorous, and it was easy-to-understand, written for all of us laymen. I was thrilled to find the trading system, Buy Monday in this book. I had heard about it for years, but did not realize it was still in print. If you have been looking for One Night Stand, it is included in this book too. Yes, I was grateful to find this little book on my end table! You will be too!

This was an extremely "easy-read" book, which made a lot of common sense. I had purposefully stayed away from the futures markets due to the fact that I do not have much risk capital. This book motivates me to attempt the writing of my own trading systems. I may "paper trade" them only, but after reading this book, I feel this is exactly what I should do before I take the giant leap into the futures markets. It has been a long time in between books which motivate me, and I just want to say that if you have any interest in developing your own trading systems, you too, may be inspired by this little book.