Top critical review
2 people found this helpful
a simple system
on October 2, 2012
Thomas Carr's book is short and sweet, much like the system he describes. It covers much of the basics in a similar fashion as one of his self-proclaimed mentors Alexander Elder. For a beginner this text could be a great foundation but for anyone that has been trading or charting for a while, this book will likely dissappoint. What I do appreciate about this book is how the text walks through the construction of Carr's trading system. It is well described and easy to reference back to during execution. I wish all trading books were this straight forward.
Some of my concerns though focus on Carr himself and the viability of this system in general. This system seems to work quite well in hard trending markets, but volatility really chews it apart and I don't believe Carr cautions people enough to this reality. I've also read that Carr's market performance since the 08 crash has been quite poor using this system and while I'm not anti religious, some of the religion references probably could have been excluded. Hard to shake old habits I guess, Carr is actually a theologist by training and has written several books on religion prior to and during his trading career.
Overall, its not a bad book, but definitely geared toward the newbie.