Book Description

Praise for A complete guide to Technical Trading Tactics

"John Person does an excellent job of explaining how to apply technical analysis to the futures markets. Since futures trading is short-term in nature, it demands precision timing tools. A lot of those tools can be found in this new book."
––John Murphy
author of Technical Analysis of the Financial Markets and Intermarket Analysis

"Easy to read and easy to follow, A Complete Guide to Technical Trading Tactics is a book traders will love."
––Larry Williams
Legendary trader and author of Day Trade Futures Online and Long-Term Secrets to Short-Term Trading

"A Complete Guide to Technical Trading Tactics is replete with useful trading tips in a logical format, presented by a seasoned trader with a flair for telling it like it is . . .sure to enrich your pocketbook."
––Larry Pesavento
40-year veteran trader and former member of the CME

"There is a Japanese proverb: ‘He whose ranks are united in purpose will be victorious.’ This book skillfully reveals how to join the most important aspects of technical analysis including my favorite (of course) candlesticks. Covers the spectrum from market mechanics to chart analysis, pivot points (John’s specialty), order placement, and much more. Use this book! It will help you along the road to victory in your trading battles."
––Steve Nison, CMT
President, Candlecharts.com and author of Japanese Candlestick Charting Techniques and The Candlestick Course

"Brilliantly provides succinct descriptions and applications of technical trading techniques, gives a solid overview of the derivatives market, shows how to identify and work with a broker, and presents issues that a trader must face to be successful. A must-read for traders at all experience levels."
––Daniel M. Gramza
President, Gramza Capital Management, Inc.

"John Person provides readers the most valuable commodity they can buy on any exchange: the benefit of his vast knowledge and experience related to trading. His analysis and discussion of pivot points is an especially valuable contribution to trading literature."
––Edward D. Dobson
President, Traders Press, Inc. ... Read more

Reviews (4)

perfect
john is one of the few select people that can explain trading into one book.not only did i learn new techniques from this book but he also reminds me how i should trade.
i highly recommend this book.

Excellent in every way.
I started my career reading books from the likes of John J. Murphy, Steve Nison, McMillan, Elder, Bulkowski, etc...

This book can sit on my shelf in equal company from each of these other great analysts.

Thanks for your insight and guidance John, it is sincerely appreciated.

I especially enjoyed the section on Pivot Points.

Sincerely,
LT

Geat Hidden Jem
This book is a gem... great discussions on the lesser known areas of trading. Of course, this book does a great job of covering the standard indicators in a very well thought out fashion. But the real power J. Person's book lies on the chapters on crowd behavior, and going against the grain of the "talking heads."

I greatly enjoyed this read, and know I will be implementing many of the ideas in my own trading. Trading Tactics is a must read for all, novices as well as seasoned professionals will find something useful within its pages...SB

The great lessons to help you pull the trigger
I think the chapter on Pivots plus the candle stick patterns is one of the smartest and best visual "right side of the chart" indicators I have learned yet. What powerful signals these are. It is awesome to see a that an entire chapter is donated to solutions to the emotional hang ups in trading too! Buy this book it works! ... Read more

Book Description

Updated and revised to reflect the mostcurrent information, this introduction to futures and options markets isideal for those with a limited background in mathematics. Based on Hull's Options, Futures and Other Derivatives, one of thebest-selling books on Wall Street, this book presents an accessible overview of the topic without the use of calculus. Packed withnumerical samples and accounts of real-life situations, the Fifth Editioneffectively guides readers through the material while providing them with ahost of tangible examples.For professionals with a career infutures and options markets, financial engineering and/or risk management. ... Read more

Reviews (3)

Great Book!
I needed to understand everything I could about Futures and Options in a short time and this book was perfect for that purpose. The introduction about futures and options is great and the content in general is very easy to understand and follow. I really liked the examples and the way the author explained each topic. However, I have to confess that maybe my engineering background helped me to understand the math behind, but I believe that even if you don't have much mathematical knowledge you can follow the book.

A big plus of this book is that it contains a chapter about Value at Risk and one focused more on more recent types of derivatives contracts (e.g., energy, weather, etc.).

In general, I think that with this book you could cover more ground more quickly than with other books.

Great Book!!
This book is a great introduction to options and futures, I do not have any university experience in mathematics and was able to follow nearly all that I have read so far. However, if you are not comfortable with substituting into equations and following equation derivations, maybe option/futures trading is not for you.

You better know your math
The book is a good book IF you know your math. It has been a while since I have done calculus and finance classes and needed to review other books in order to understand all the math. I laughed at the introduction when the author stated math is not needed. While this is partially true, it is because the author expects the reader to memorize his formulas and so omitts some of the steps of how the formulas come about. Do not try to do this book without help or even better yet, without the solution manual. It was a grueling class with more than 1/2 the class dropping it because the book was so hard to understand. ... Read more

Book Description

A simple, straightforward guide to the fundamentals of technical analysis
For active traders and investors who don't understand the complicated art of technical analysis, this commonsense resource covers all the bases. Explaining the basic principles of analysis and showing how to implement them, Technical Analysis For Dummies dumps the confusing jargon and unreadable charts for basic explanations and practical guidance. In no time at all, readers will see how to make better trading decisions.
Barbara Rockefeller (Stamford, CT) is one of the foremost authorities on technical analysis and founder of Rockefeller Treasury Services. ... Read more

Reviews (4)

Best Overall Book On The Subject
I have read over a dozen books on the subject of Technical Analysis. By far, this is the best one because it uses plain english to introduce and reinforce topics that are important to beginners and veterans alike.
Rather than "just the facts", Barbara provides some background that helps put the various tools into context.
Had I read this book first, I would not have had to read the other 12!

technical analysis for dummies
Your book Technical Analysis for Dummies is absolutely great! I understand what you are saying because you take the time to explain the T.A. words and phrases. Many of the words and expressions used in modern business writing can't be found in my Websters. I have e-mailed the Wall Street Journal more than once to obtain a word or phrase explanation. I don't feel dumb, sometimes a little old, may be, but not dumb.
Your special talent is your ability to teach an abstract concept by leading me, the student, with examples based on my existing knowledge. Like building a wall, you add bricks of thought to the foundation I poured 50 years ago. Living in a very rural area and not having sufficient free time to drive to and attend formal education, I achieve all my learning from books. I know I learned a great deal from your work, thank you. I wish someone would compose a similar text on computers.
Your credibility soars because you repeatedly and clearly state that analysis does not work 100% of the time and must be selected for the type of market, the crowd behind the market, the times and my personality. Your warnings could not be better expressed or related to the subject at hand.

Technical Analysis for Dummies
Your book Technical Analysis for Dummies is absolutely great! I understand what you are saying because you take the time to explain the T.A. words and phrases. Many of the words and expressions used in modern business writing can't be found in my Websters. I have e-mailed the Wall Street Journal more than once to obtain a word or phrase explanation. I don't feel dumb, sometimes a little old, may be, but not dumb.
Your special talent is your ability to teach an abstract concept by leading me, the student, with examples based on my existing knowledge. Like building a wall, you add bricks of thought to the foundation I poured 50 years ago. Living in a very rural area and not having sufficient free time to drive to and attend formal education, I achieve all my learning from books. I know I learned a great deal from your work, thank you. I wish someone would compose a similar text on computers.
Your credibility soars because you repeatedly and clearly state that analysis does not work 100% of the time and must be selected for the type of market, the crowd behind the market, the times and my personality. Your warnings could not be better expressed or related to the subject at hand.

Great Manual to The Markets
If you want to learn how to read the markets BUY THIS BOOK! I have been in the financial markets since '93 and have read dozens of books on technical analysis; I just wish this one was out ten years ago- because I would have saved myself a ton of time.

This book is so simple to understand yet extremely insightful, I call it the "manual to the markets", because its methodologies are explained in detail and applicable to ALL markets. I trade currencies and now use a lot of Barbara's techniques. My favorite chapter is chapter 11 "Transforming Channels into Forecasts".

If you are like me and need to know what the market is trying to tell you then this book is for you. A lot of books out there are heavy on math and light on descriptive illustration this one is the opposite, I cannot stress how easy this book is to digest...If you're a veteran or a newbie to the markets you'll be quite pleased with this one. ... Read more

Book Description

Comprised of three information-packed parts, Pairs Trading presents an in-depth look at the various aspects of these strategies and provides quantitative tools to assist in their analysis. The first part of this comprehensive resource sets the context for the rest of the book by introducing preliminary material on some key topics, including time series, factor models, and Kalman filtering.

After presenting the broad ideas and concepts of this trading method, Pairs Trading delves into two different versions of pairs trading in the equity markets–statistical arbitrage pairs trading and risk arbitrage. Part II of this book details statistical arbitrage pairs trading, which is a relative value arbitrage on two securities based on the premise that there is a long-run equilibrium between the prices of the stocks comprising the pair. Part III moves on to illustrate the trading techniques and strategies associated with risk arbitrage–the widely practiced arbitrage technique that involves pairs trading arising in the context of corporate events, especially mergers and acquisitions.

Written in a straightforward and accessible style, Pairs Trading provides a framework that will allow you to boost the bottom line of any portfolio. ... Read more

Book Description

Approaches trading from the viewpoint of market makers and the part they play in pricing, valuing and placing positions. Covers option volatility and pricing, risk analysis, spreads, strategies and tactics for the options trader, focusing on how to work successfully with market makers. Features a special section on synthetic options and the role of synthetic options market making (a role of increasing importance on the trading floor). Contains numerous graphs, charts and tables. ... Read more

Reviews (5)

Best introduction to options
I highly recommend this book for a basic, clean, non-pretentious presentation of option trading from a market maker's point of view. Baird can also write English: very clear, linear, simple prose. The man has no axes to grind or ego trips to take, and he knows what he's talking about, and gives very practical advice.

Excellent work
Although this book is not for beginners, it doesn't contain any formulas. Instead it focuses on all the complex aspects of making a market for options. I've read this book over and over again on a regular interval to remind me on the way market makers do their practice, and how to avoid the pitfalls in trading against specialists.

Excellent read for the high-level ops trader
Not for the speculative trader. Baird explains neutrality and hedging scenarios in great detail. Explains some esoteric concepts rarely discussed, such as time spread risk and delta drift. Very succinct explanation on arb spreads and combos, and the tendency to trade to the pin at expiration. Highly recommended.

not worth buying
10 or 20 pages of nice graphs worth copying and keeping on your desk, otherwise really generic, should be kept for reading in the subway

best book I know on options trading for real traders
Clear and to the point. Nice briefings on difficult subject. Especially useful because Baird let's you know about how to control your risk. ... Read more

Book Description

For more than two decades, futures traders have turned to the classic Trading Systems and Methods for complete information about the latest, most successful indicators, programs, algorithms, and systems. Now, this newly revised and expanded Third Edition continues that tradition, including many new approaches and covering the latest developments in the continuously evolving equipment and techniques for trading futures markets.

Perry J. Kaufman, a leading futures expert highly respected for his years of experience in research and trading, has thoroughly rewritten and updated his bestselling guide, which remains the most comprehensive and instructional book on trading systems today. This detailed, hands-on manual offers a thorough analysis, using a systematic approach and including explanations of each method of calculation or operation. Kaufman explores both the good and bad features of each trading technique, explaining why a trading system or method works or doesn't work, how to select features that fit the trader's needs best, and how to test a system to achieve a sound trading program.

Since the early '70s, Kaufman has been devoted to futures research, with a particular emphasis on computer applications. He includes computer programs and spreadsheet code to implement each system and method, in addition to the mathematics involved. Where other books fall short, Kaufman's reference makes it possible for traders and analysts to program the systems themselves, changing the programs as they see fit and applying the techniques to their own styles and trading tools.

Trading Systems and Methods continues to be the single best resource for the trader or market analyst who wants to create or choose a successful trading system.

The bestselling guide to trading systems—completely revised and updated

"Probably the most comprehensive guide to trading systems ever written from one of the foremost experts in the field. This is an invaluable reference work for anyone with an interest in trading systems." —Jack D. Schwager, author Technical Analysis and The New Market Wizards

"Perry Kaufman has no peer in the field of trading system design. In this authoritative new edition, Perry adds rich material to a remarkable body of indicators and timing methods." —Nelson Freeburg, Editor, Formula Research

"A carefully thought out revision. The new added content is impressive . . . and useful. Kaufman is to be commended for carefully choosing and annotating that content. Years of questioning and reasoning the validity of both new and classical technical analysis studies has prepared the author to be a most knowledgeable 'final filter'. In this book he has selected the best. Thanks!" —Tim Slater, Managing Director, Telerate Seminars, Bridge/Telerate

"This is a remarkably insightful book about the ins and outs of the futures market. In his usual inimitable style, Perry does a wonderful job of showing the beginner and the experienced person what it takes to build and use a successful trading system. Whether you're an old pro or a beginner, this book is an excellent source for analyzing, evaluating, and forecasting price movements." —Mark J. Powers, President, Powers & Dubin Asset Allocation and Management Co.

"An original and masterful approach that provides an in-depth analysis of the most popular trading techniques. The entire process for developing and testing trading strategies is put into a cohesive framework." —David Krell, Chairman, K-Squared Research, LLC ... Read more

Reviews (27)

Important book for intermediate level traders
First let me disclose that I have not read this book front-to-back, but I have gone through most of it from time to time over the past 3 years.

I believe this book is an excellent reference for anyone who is serious about building a robust systematic strategy for trading. Mr. Kaufman starts by going over the basics of statistics, supply and demand, trends, etc...and later gets into the particular trading strategies. The final section of the book deals with system testing and risk control, and this is the part that I found most valueable.

The book doesn't cover any subjects in enough detail to give you a complete understanding of the subject, but I don't believe that this was the intent anyway. It's a starting point to give you high-level ideas about trading systems, testing strategies, and risk control, and it is an excellent book in this respect.

For beginning traders, I would recommend the standard books (Market Wizards, Remeniscence of a Stock Operator, Trade Your Way to Financial Freedom, etc.) over this one because those ones cover the psych aspect of trading better, and this is probably the most important foundation for success. For those who are serious, and realistic about trading, 'Trading Systems and Methods' is an important reference book...but by no means the last book you'll ever need.

One of the better books in the WTA series.
This is not so much an encyclopedia as it is a fairly complete compendium of various trading tools and strategies. Almost all such research focuses on the futures markets; the closest these get to the stock market is the S&P 500 index. This is true of technical analysis in general, so if you're interested in the stock market you will generally have to extrapolate.

Kaufman is a pretty able and knowledgeable reporter on the research results of others, but I have to say that in places the transcriptions are confusing, unclear and ambiguous. Even though the book is nearly 700 pages long, some of the coverage is too sparse -- while in other areas it seems too wordy. This 3rd edition could benefit from a start-to-finish re-organization/re-write, as some ideas are explained multiple times in various places and other ideas which are introduced early and deemed important are then ignored throughout the rest of the book. I'm thinking primarily of the basics of statistics and tests for significance; much of what might work at times is superfluous. My impression is that while Kaufman is very experienced in the markets and with trading systems in general, that he's a dilettante so far as really rigorous mathematics is concerned. Pick and choose among the many clever ideas here carefully. 3 1/2 stars.

Good for reference, but read wtih skepticism
There was plenty to learn in this book and overall it offers much reasonable advice. However, it also packs a large portion of bizarre and obviously silly content, such as the phase-of-the-moon and the "Jupiter-Saturn cycle" trading systems mentioned in other reviews. Still, I find even this bit useful as a reminder of the danger of being lured in by a trading system based on numerology instead of relevant data. It's nice to remember that the reason analysts compute the 14-day and 28-day moving averages are because these are half and a full moon's cycle, respectively. Of course, these became popular even though they refer to trading days instead of Earth days (what? doesn't the moon phase stop progressing over the weekend too??)

My other complaint is the use of proprietary "Easy Language" code samples; this would be fine if it included an appendix on Easy Language syntax, but this is conspicuously missing... and would have been more useful than the secion of the book titled "Financial Astrology" or the appendix on constructing a pentagon with straightedge and compass (I'm not kidding).

Suprisingly, I did find the discussion of solar eclipses informative from an astronomy viewpoint.

Overall, even with the negatives, I enjoyed the other reference material.... just figure out which chapters to tear out of the book before reading.

The One
If you can only buy one book on trading systems OR want to free up space on your bookshelf... buy this book, it's really the only reference you need.

Be aware
Don't get me wrong, the author doesn't seem stupid - he developed his own adaptive trend following method. But he has completely no idea how the market works and what can possibly work in the market. This book is a compilation of many technical trading methods, but most of them are stale and some ridiculously insane. Page 376-377 he has a chart and program to compute the moon's phase, because we should buy at full moon and sell at new moon? The selling point of the book is it contains some source code, but most of them are naive. Page 640 betrayed that the author only wrote the programs over twenty years ago when there was no graphics output. In regression he had to use many "*"s to draw the line. And why would any reader need the Fortran source code in the appendix to do regression? Remind you that those ten pages would cost you a buck.

In short, the book has no value for professionals. For individual investors, be aware - the book could actually be harmful because it gives you false confidence. In the investment world half bottle may be worse than you know you have nothing in the bottle. ... Read more

Book Description

John Murphy presents a treasure trove of easy-to-use tools for mapping your course through today'market. Whether you're using online charts or a professional charting software program, these techniques from master technician John Murphy can increase your trading success. He presents basic principles of technical analysis in easy-to-understand terms.In addition, he covers: All types of chart analysis, "need-to-know" concepts, including trendlines, moving averages, price gaps, reversal patterns, volume & open interest spreads, and more! ... Read more

Reviews (3)

Not worth 20 bucks
If you look at the table of contents, you will see that the number of pages devoted to basic technical analysis indicators is absolutely minimal (e.g., MACD). This book is only 59 pages and, therefore, omits all but the most basic. I just don't think that it's worth $20. As many of you know, you can go to various technical anaysis web sites and print out---for FREE---equally/ more helpful information. This publication is really more of an introductory pamphlet than a bona fide book on TA.

This is a dictionary not an encyclopedia
You get what you pay for on this one. Clear writing with good examples but a beginners guide only. There isn't anything in this book you could not find on the web. Also have noticed the author not speaking what is obvious in the charts regarding the market when interviewed so far in 2002.

Number One Value In Technical Analysis Books
Shhhh....want to know a secret? This book delivers everything one needs to know about chart reading at a far friendlier price than Murphy's other books or any other technical analysis book. Read and re-read this book then check out Technical Analyst Gary B. Smith's column at thestreet dot com, and explore stockcharts dot com also. You will be ready to use technical analysis to read charts instantly very shortly after doing the above steps. This book, published in year 2000, includes data about the Spring 2000 NASDAQ meltdown. Use the money you save by taking the above mentioned steps to buy some stock. Sensational book, sensational value! A must buy! ... Read more

Book Description

Do you want to learn how to trade successfully in every market environment? If so, you have picked up the right book. The Volatility Course is designed to help you integrate the use of volatility in your trading approach–which will help you to become a more successful trader.

But in order to understand volatility, it is essential to grasp the basics of investing, which is why The Volatility Course first provides a comprehensive review of stock market basics, including equities, indexes, exchange-traded funds, price quotes and charts, and, most importantly, options.

Through expert advice and in-depth examples, this book:

• Explains what market volatility is and how to quantify it
• Focuses specifically on stock and options volatility and their corresponding strategies
• Provides a road map detailing how to identify the ups and downs of market volatility
• Describes the strategies that work best in high and low volatility markets

Filled with tips and techniques from renowned traders George Fontanills and Tom Gentile, The Volatility Course will help you understand the different types of volatility, how to measure and anticipate changes in volatility, and how to adapt your trading strategies to excel in prevailing market conditions. With The Volatility Course as your guide, you no longer have to wait for the right market conditions to trade successfully, because you’ll know how to trade under any market condition. ... Read more

Reviews (5)

A Must Book for the Beginning Options Trader
As someone who has been trading options for a couple of years, mainly has a hedge against adverse price moves in stocks, I wanted to try my hand at a more aggressive strategy, using options to make money, and possibly become wealthy. I knew that a thorough understanding of volatility was necessary for options trading. I was drawn to this book because I had previously bought the Options Course from George Fontanills and thoroughly enjoyed it.

The Volatility Course has two themes: Understanding volatility and integrating volatility into your options strategies. There isn't a lot of theory to bog the options trader down but good examples to bring home his points. While I may have wanted to see a little more theory for handling the futures market, the book is excellent and would recommend it for the beginning options trader.

Doesn't deliver the goods
Readers would buy this book assuming that they will be able to master the concept of volatility, and use it in their options trading, but this is far from being the case.
One would expect a book that deals with an advanced concept such as volatility, to take it as a given that the readers are already familiar with all the basics such as "an option gives the buyer the RIGHT not the OBLIGATION" etc.I estimate that about 2/3 of the book deals with such beginner stuff.
On top of that, the authors don't even try to conceal that their primary purpose in writing the book is to deliver traffic to their premium web service.
I did learn a few things about volatility, but I was left with the feeling that I was tricked

Useful information, but mostly regurgitation
The title might suggest that this is an advanced options book; no, it is not. Three quarters of the content is a mix of other G. Fontanills books, and one quarter some updated material on skews, calendar spreads, sentiment measures, etc. The book is a weird mix of information for total newbies to the stock market and intermediate level options traders. There are some errors and typos in the book as well, so be careful when you apply the strategies to your real life trading.

So much practical information in one place!
As an Options Trader I was always overwelmed by all the tools available to me, and by the barrage of financial news. I had information paralisys.

Where do I start? What kind of stock behavior should I be trading in this current market? And once I found a stocks I liked, What kind of strategy needs to be applied? Exactly how do I find the best options for this stock?

This book is the real thing. I am a "follow the checklist" kind of person, and I have always been looking for sensible process to look for trades. Something simple yet able to give me consistent results.

Knowing that Implied volatility is such a factor in option pricing, I now can navigate thru tha maze of option chains and pick exactly what is required for my trades, because now I know what trade needs to be done.

This book is fascinating and it has the "See thru the eyes of the trader" approach I was looking for.

This book has now taken the place of about five other books that I will be auctioning online.

A Masterpiece!!!

Outstanding!
This book is outstanding!
Fix a few editorial errors and I will give it 5 stars.
Great job! ... Read more

Book Description

"The public thinks speculation is a game of knowing the future, of knowing that which cannot be known. They are wrong. It is a game of developing strategies with winning advantages, of getting the odds on your side, and then working those odds. Here's how I've done just that for the past 35 years.—Larry Williams.

Short-term trading is how most traders and would-be traders play the markets. While it offers the greatest financial payoffs, it also presents the greatest challenge, requiring constant attention and vigilance, as well as a very strict plan. Written by Larry Williams, the most recognized and popular technical analyst for the past three decades, this groundbreaking book—his first in almost a decade—provides the blueprint necessary for sound and profitable short-term trading, highlighting the advantages and disadvantages of what can be a fruitful, yet potentially dangerous venture.

Sharing his years of experience as a seasoned and successful trader, Williams offers his market wisdom on a wide range of topics, from chaos and speculation to volatility breakouts and profit patterns. With his expert guidance, you'll learn about such fundamentals as how the market moves, what are the three most dominant cycles, when to exit a trade, and how to hold on to winners until the end of your chosen time frame.

Along with in-depth analysis of the most effective short-term trading strategies and details on the best theory and implementation of money management, Long-Term Secrets to Short-Term Trading features Williams's winning technical indicators, as well as his thoughts on a broad range of topics. A sampling:

• "A short-term trader has one objective; to catch the current trend of the market. That's it. That's all you should try to do!"
• "The shorter your time frame of trading the less money you'll make." "You will never make big money until you learn to hold on to your winners, and the longer you hold the more potential you have for profiteering. . . . It takes time to make money regardless of the activity."
• "Wealth is not amassed with just good market calls. It also requires correct money management."
• "I think you need to fear the market and fear yourself. . . . Without fear there is no respect, if you do not respect the markets and fear yourself you will become one more dead body on the long trail of commodity market casualties scattered across the land." Filled with invaluable insight, precise rules and formulas, and helpful advice from one of today's most respected market players, this comprehensive and practical resource will serve as the basis for, if not indeed become, your short-term trading "gospel."

  "Having known Larry for 25 years, I can truly say that this is his 'magnum opus'; the culmination of a brilliant career; must reading for anyone who trades futures with success as their goal!—Jake Bernstein, President, MBH Commodity Advisors, Northbrook, Illinois. ... Read more

  Reviews (34)

  All Traders know One Thing!
  We know what risk is! We know that the markets are alive and constantly changing. We know the joys of a winning trade as well as the pain from losing trades. We know what it's like to have sleepless nights with a mind full of anticipation and constant thinking. Most of all, when it comes to fine tuning our trading skills, we absorb what is useful and discard what we don't need. 'Long-Term Secrets to Short-Term Trading' It's here, use it. I am a trader, and if you have ever traded, then you know that trading involves moving in and out of the market at the right time in order to make a profit. This book may help some people do that and others not. But you will never know unless you give the book a try! True traders don't have time to put down other traders in defense of a favorite "guru" or bias opinion against another. We are too busy trading! (Let's face it, our money is on the line!) If you have traded then you know what I mean! 'Long-Term Secrets to Short-Term Trading'- Use from it what you need, then keep on trading!- I did [ XenoWorld ]

  Bright market wisdom, but not secrets
  The content of the book deserves five stars. However, the author might have been so used to his newsletter style, that the book is a little bit disorganised and one star is deducted.

  Anyway, the book is well dosed with market anomalies, adages, technical methods and useful stuff. I dont mean that all the materials are useful. I do cast doubt on some of his program trading methods (which gave an ROE of over 10000%) which I think the calculation had been manipulated from hindsight. Nevertheless, what the author said is by and large applicable.

  Emphasis was placed on 1)trading system, 2) money management, 3) patience + knowledge + focus as the essentials for successful trading. Not secrets, right? Most of the trading books in the market talked about these. It's just that the author had more credibility and better story telling skills. I believe most traders would enjoy reading it, especially those chapters telling the author's failures or copying his past newsletters.

  p.s. I would like to quote two phrases here.

  "I have developed a powerful and profitable belief system: I believe the current trade I am in will be a loser... a big loser at that." (Stops are must)
  "If you cant follow it, what good is a system or strategy?"

  One of the few worth reading
  Although the author has "legendary" status in the trading world, every now and then one comes across biting criticisms of him and his work. One reason for this I'm sure, are the little inconsistencies which occur in his ouvre.
  For example, up until the publication of this book, he had written a few, which in hindsight, were all about longer term trading.
  It now seems he has been trading short term for years.
  Also, he says in Long Term Trading that he trades bonds and the S&P, and yet other quotes I've seen attributed to him say he trades the stock index only.
  For all that, this is a tremendous book. Very easy to read but the devil is in the detail.
  My only criticism is that at times the editing is very poor, and a simple literal when discussing trading systems can turn a winning system into a losing system.
  Also his results were attained using Omega/Trade Station and when the same systems are tested using a different software, the results can flucuate enormously, sometimes invalidating the original system tested. This point seemed to surprise Larry but is one he should have been aware of.
  However, it is undoubtedly the best book on trading I've read.

  Zero sum game.
  Trading can be a rewarding endeavor, this book is geared for the intermediate student of the markets who has at minimal a basic understanding of the markets. I reccommend this book over the numerous ones i have read and digested on trading, which includes making and losing money. This is one of the handful that stands out. Not in any particular method though it has a few that i have used profittably, but more in an understanding of the markets and some insight into making one's own trading system. The thought process into making one's own system(s) and following it is where i feel many people lack, and most traders are losers. This book shares some insight into various systems that if followed blindly you will never make it, but if seen as a thought process into developing a system one can stack the odds into one's favor in the hopes of turning out more winners than losers.

  Futures Broker gives it two thumbs up!
  I first discovered Mr. Williams when a client brought his book "Batting .800" to me. That was eight years ago. I was impressed then and I am still impressed now. Since he is the only one in a contest setting to take $10,000 to $1 million, when he writes I feel compelled to read it.

  This book wins on many points. Mr.Williams likes to use Tradestation to prove out his theory and that makes it accessible to many system developers. He also gives out specific times to trade contracts and he also compares his systems among multiple contracts. Delineating what markets work with what system strategies.

  Where the book fails, is that Mr.Williams quickly begins to talk "shop-talk" and will easily lose those investors that may have bought his tapes or seminars. He also fails in the disjointed way interjects his trading platitudes with his actual trading style.

  Novices beware. After being in the futures industry for the past 11 years as broker, investor, and the author of three books on the futures investing subject, this book I feel is a must have for the intermediate trader. ... Read more

Book Description

Renowned options expert David Caplan shows investors how to analyze probabilities and create options positions that place the odds squarely in their favor. A savvy, streetwise book, The New Options Advantage eschews theory in favor of providing readers with strategies that really work. Completely updated, this edition contains an expanded discussion of volatility, on of the most important factors in options trading. Packed full of insights derived from years of successful trading. The New Options Advantage will appeal to a wide spectrum of traders. Specific topics include: The ``trading edge'' philosophy; Understanding and using option volatility; Identifying and exploiting undervalued and overvalued options; Strategies for different market outlooks; Using a computer to trade options. ... Read more

Reviews (9)

Buy it!
This book is almost as good as Natenberg, and much better than McMillan, Schaffers, and Fontanills. Although it is about options on futures, most of the strategies discussed are applicable to stock options as well.

Filled with Insight, Creative, Not For Newbies
A good choice for stock option investors despite it mentioning commmodities. This book will overwhelm a beginner, who should start with Charles Caes' great "Tools of the Bear" (which works for bull and bear markets). Far superior to George Fontanills. Caplan is creative, he writes well and gives the studious reader many important tips. I made two pages of notes from this book. With even a little experience, an options investor will truly ascend to a higher level of knowledge and trading mastery with this book.

The New Option Advantage
I don't receive his newsletter, I haven't been to any of his seminars and I don't trade with his brokerage. That being said, this book is outstanding in teaching non-complicated option strategies to traders who want to receive an "Edge" in trading. I have been trading futures for 7 years now, and have recently implemented options into my toolbag of strategies. So far, I've made at least 20 times what I paid for this book. You do though, must understand the futures market first. Trying to read this book, before understanding futures in general, will leave you in a daze. In contrast, there are many books who over-do option strategies by trying to explain how they came up with different strategies by using complex mathematical solutions and explaining how these solutions can make you money. If you think your confused reading this book, wait till you read one of those kinds of books! Good Luck everyone

for futures options traders only
This book is very useful for those who are interested in trading futures and futures options. It really gives you the best strategies to use to capitalize in any market environment. If you do not have a very clear understanding of how to trade which options and at what time, this book will definately help.

Good book for option strtegist
This book is good for the readers who has a good knowing in option basic. Deep investigations in different futures markets make this book very attractive for serios option trader. But mr. Caplan does not show his methods on 100%. It is not good, because the new traders can lose money if they will follow the Dave's methods as closely as they can. ... Read more

Book Description

The psychological strategies that hedge fund traders use to maximize their success

Ari Kiev interviewed over 80 hedge fund traders, including some of the most successful hedge fund operators in the world, to exemplify and drive home the principles of trading success. Filled with in-depth insights and practical advice, Hedge Fund Masters explores the psychological pressures felt by professional hedge fund traders as they manage enormous sums of their clients' money. Kiev shows traders how to maintain emotional balance, focus on targets and goals, overcome deep-seated psychological obstacles, and trade with consistency and discipline. ... Read more

Book Description

When people think of stock trading, they often think of the glory days of the Internet, when stocks just kept going up and everyone seemed to be making a fortune. Since the bubble burst, many people are scared of investing in the stock market. Sure, stocks are risky—just like any other investment—but with the right knowledge and tactics, there’s still money to be made.

Trading For Dummies isn’t about high-risk, fast-paced day trading. It’s a simple, straightforward guide to the ins and outs of stock investing that offers a measured, level-headed approach to trading. You’ll learn the basics of portfolio management, measuring stock value, market analysis, and much more—all with a focus on risk reduction and steady profits. Inside you’ll learn how to:

• Understand market cycles
• Choose a great broker
• Master technical analysis
• Manage your risk exposure
• Build a balanced portfolio

This friendly guide presents the kind of honest advice you won’t find in the typical get-rich-quick books on trading. Full of practical tips and tactics—as well as hardnosed insider advice—this handy resource shows you how to build a strong, balanced, and profitable portfolio. Whether you want to save up for your retirement or pay for college, Trading For Dummies will show you how to:

• Prepare yourself with the right tools and information
• Develop your own custom trading strategy
• Analyze companies and stocks
• Understand all the exchanges and markets
• Understand broker fee structures
• Analyze market behavior
• Decipher income statements, balance sheets, and ratios
• Read charts and graphs
• Spot trends and profit from them

This book has all the tools and honest advice novice stock traders need to get set-up quickly and safely. Basic strategies and stock valuation methodologies let you control your risk exposure and make wise decisions. Trading For Dummies includes everything new traders need with advice on every type of stock or derivative, every kind of trade, and every popular strategy. ... Read more

Reviews (5)

Pithecanthropus
The book contains a wealth of practical information however there are errors in the mathematical formulas, dates and etc. This is most frustrating from a reader point of view and dampened the confidence in the material presented. However, it is relatively a easy read for general understanding of the money and FX markets. I hope the author does a more thorough check in the future edition in order to do this book justice.

Excellent practical book for the beginners
This is a great practical book for the beginners and intermediate people in the market. When I started in the market as a business analyst, with no prior experience, it was a confused world of trading. After reading this book, things make much more sense. In addition, the book explains brief analytics on how to price and when and why certain instruments will be used for trading. It is geared towards trading. Refer to other books if you are more interested in middle/back office functionality (like settlements, P&L calc, risk management etc.)

Great help for trainers
Many a times, trainers in the banking industry find it very difficult to teach complex subjects like foreign exchange and money markets to relatively junior guys. This book will prove to be of great help to those trainers. Probably the first ever attempt in this subject.( Luca's text book can easily be replaced by this book just because of its excellant padagogy). Hope other titles advertised by RFT will also become available soon, specially the one on Risk Management.

Not recommended for anyone who has previous experience
If you have some experience of foreign exchange trading, this book is not for yourself. You would learn everything written here within the first six weeks of your job as a foreign exchange trader.

However, this book is great for the REAL beginners who want to learn about foreign exchange from the very beginning and for trainers or teachers who teach those who has little knowledge the foreign exchange. This book starts from explaining what bids and asks are and explains so far up to the mechanics of foreign exchange derivatives. The most remarkable feature of this book is illustrations of deal components and market segments showing how each deal components and markets are related to each other. Detail explanation on different market conventions applied to different currencies is also useful. Short questions at end of chapters are good to review what you should take away from the chapters.

Excellent Book
This book is excellent for beginner as well as for advance. It covers all the details right from bottom to top in a very lucid language. It also covers enough diagrams that explains the subject very well. ... Read more

Book Description

The option day trading blueprint you've been waiting for!

Options day trading is no walk in the park. But it is your most potentially profitable way to take advantage of the day-trading phenomenon. Put the odds in your favor with Demark on Day DeMark and Thomas DeMark, Jr. Forget complicated formulas! Instead, this nuts-and-bolts guide gives you a set of option trading techniques, indicators, and rules to limit risk without sacrificing profit. You're shown how to:

*Select, design, and build your own highly-personalized trading model
*Use filters and screens to select optimal option trading candidates
*Identify low-risk entry points in up, down, or even sideway markets

You get savvy tips for buying puts or calls based on market, industry, or underlying security ù even get a phone number to get a free, updated TD Indicators demonstration disk.For three decades, traders using breakthroughs like the DeMark Indicators have made fortunes. Now it's your turn! ... Read more

Reviews (64)

Excellent original ideas
I have folllowed the markets for years. A friend of mine recommended I purchase this book. I am skeptical of system trading. I was intrigued by the credentials of the authors. These did not appear to be people who needed the money. Rather it was apparent that they truly wanted to share their creativity and reearch. Having read the book 2 times and the second half of the book 2 more times, my conclusion is correct. This book is a value and a significant contribution to the writings of how markets behave and how to use indicators to trade successfully. I recommend this book to serious traders and investors.

best book on day trading available
I've read most if not all books on day trading written the last couple of years. Most address the mechanics and processes concerned with day trading and neglect to provide what is most essential and that is techniques for identifying trading candidates and how to implement these into viable trading systems. Mssrs. DeMarks' book present s aplethora of worthwhile approaches. It's certainly not turnkey but what do you expect for the price of the book--the holy grail? One thing is certain the methods are original and can be dissected and applied piecememal to methods I have previously applied in the past. For anyone sincerely interested in day trading stocks, futures, or options, this book is a necessity.

Pleasntly surprised for two reasons
I wrote reviews today on the other two sites that had DeMark books for sale. I did not know this book was available. I told my trading partner about this discovery and he admonsihed me that this book has been available for a few years and that the book was even bette than the authors' two previous ones if for no otherreason is that the author's son helped iun simplifying the presntation. My trading partner told me to assign a 5 star rating and to recommend it highly. I am doing that now.

These are excellent trading ideas
I am a trader on the Chicago Exchange. I have also conducted commodity and stock trading schools. The ideas I have acquired from both the DeMarks are the curriculum of my classes. Originally, before being introduced to the DeMark methodolgy I relied upon the same trading techniques as all other traders. What convinced me to try the Demark techniques was the fact that someone told me that DeMark was the originator of a few of the all time trading favorite oscillators such as RSI. I wanted to know why he abandoned this indicator. It now makes sense to me--he has developed more accurate and sensitive trading tools that are more responsive to the rhythm of the market. They are indeed more valuable and help me and my students in trading.

This book can make me profitable.
I develop trading systems and have found many rich trading ideas described in the various chapters. I do not trade options often and elected to skim over the 1st half of the book. The back half has ideas for intraday trading as well as longer term trading. Al though the author does not serve these important ideas on a platter to a trader emphasizing thir relevance to successful trading, almost all discussions are packed with menajngful information and trading ideas that I can apply and test easily.
Bottom line: if you are looking for a black/whir turn-key systmeatic approach to trading, this book does not go that far. However, what this book does provide is a plethora of risch, new trading ideas that will definitely improve timing of trades. ... Read more

Book Description

Use this invaluable tool to gain a competitive edge and avert bad investment decisions.

Well-known options strategist and instructor George Fontanills has updated his time-tested and bestselling book, The Options Course. The new edition improves and expands upon the original to help you avoid some common and costly options mistakes. The systematic, step-by-step approach, covers everything from basic concepts to sophisticated techniques and is designed for investors at all levels of experience. ... Read more

Reviews (51)

A too optimistic pathway to rich... if there is one...
Mr. Fontanills provides in this book the foundations for delta neutral trading strategies using options and futures. The book has a quite long (too long in my opinion) introduction on how to get started in the market, in the broadest sense (from the difference between stocks and options, to how to make a good investment....)
Afterward, he moves deep into the details of option/future delta neutral strategies. This part is not a 100% easy read, so I would not say it is an absolute beginner book.
Although the contents are generally well discussed and presented I would urge you to work with a spreadsheet as companion, where you need to test all the formulas the author propose for break-even and profit. Doing that I found some incogruences.
Unfortunately, as a lot of trading books, also this one over indulge in promoting Mr. Fontanills professionale services, but, to be honest, this is less evident than in other books.

There is no such thing as low-stress money
I did not finish this book, because I lost interest in options trading and also became somewhat suspicious of the author's motives.
G. Fontanills repeatedly mentions how he will teach you to triple your money in a matter of days, what kind of luxurious cars he has, how easy it is to make truckloads of money using delta-neutral trading. According to George, all you have to do is relax, visit his website, buy more stuff from him, or even better attend his options seminars, several thousand bucks a pop. The road to "wealth without worry" is guaranteed. Or is it?

It is probably possible to make some money this way, but by no means is this approach "stress-free", and certainly not risk-free. Those who want easy money should try selling books and videotapes about get-rich-quick schemes with stock options.

If you want to get some useful ideas for your trading, then read "Reminiscences of a stock operator" by Edwin LaFevre, and "Trade your way to financial freedom" by Van K. Tharp.
Don't waste your time and money on books by G. Fontanills.

Disappointing
This is definitely not a beginners book.The pages that pretend to teach the basics are far too uninformative.And why the focus on futures versus options?It left too much out of focus, unless you want to learn about Delta Neutral Trading and hedging.

Recommended for serious option traders
This book might not be for beginners. However, it's not difficult to read if you have good math skills and traded in options for a while. I'm just a beginner in options trading and it was no issue reading it. It covers the basics about options, different trading strategies like vertical spreads. What makes the book great is using charts to describe the profit/loss zone for all different methods. This book opened my eyes on the concept of "delta". However, the book has no clear explanation of where "delta" comes from and it's impact on the profit you can make, or its value at certain strike prices. One way to see what the book describe is to look at the delta column for different strike price on live options chain quote screen. This is the most important variable for active option trading. It tells how much percentage of the move you will make if the stock moves say 5 points in you direction. To know more about options formula you need to look at the book "Black Sholes and Beyond" this book is all about mathematics for pricing options and not trading.

A Complete Insight Into The Options Course
George Fontanills devotes four of the 18 chapters on the delta neutral strategy.Excluding the detailed description of Fontanills' trademark strategy, the majority of the book is geared toward beginners. After providing a rather detailed description of how he entered the financial markets, Fontanills describes several of the economic factors that drive stock prices. Next he moves into the self-analysis section. This part includes information on risk profiles and margin concepts. Frequent readers of investment books will notice that many publications contain a chapter on this topic. Later, he moves into a discussion of options as an investment vehicle. All of the basics are covered, long calls and puts, short calls and puts, covered writes, naked positions, spreads, strangles, and straddles. Each of these is explained and then charted, for the visually oriented learner. Naturally, the gem of the book is the delta neutral strategy, which involves either a long or short straddle or strangle. The idea of the strategy is to help traders profit in both trending and non-trending markets, the latter of which is a very difficult concept for many people, thanks to the great bull-market of the 1990s.

The well-versed options trader will consider the book nothing more than a refresher course, as much of the material is introductory. In the four chapters which address the delta neutral strategy, Fontanills provides a thorough description of the system. After covering what he calls the "nuts and bolts," he discusses several more advanced strategies, including butterfly spreads, condors, ratio spreads, backspreads, and a few variations of each of these combinations. Fontanills finishes off with advice on placing orders and adjusting open positions.

There are two very important factors when considering all of the complex strategies presented in the book:

Are complex investments with three or more legs actually that much safer and profitable?
Do these strategies actually work in the real world, or are they only good on paper?

Many professional options traders will be the first to tell you that simply going long calls and puts are the two riskiest options strategies. Most that I know will tell you that they primarily trade two kinds of spreads, debit spreads: bull call and bear put, and credit spreads: bear call and bull put. Spreads containing three or four legs can be very expensive to open and close, because of the multiple commissions.Imagine opening and closing a four-leg position -- that would include eight commissions. This leads us to the second problem, the likelihood of actually finding these positions. Much like the works of Marx and Engel, it all seems so easy when its presented with laboratory conditions. In fact, in a world filled with rapidly changing prices and option values, it can quite difficult to achieve the perfect combination of price and delta value to actually open these positions. The more complex strategies like butterflies and condors, require a delicate balance of many factors, and as traders know, the more factors that there are to manage, the more difficult it will be to control.

The second piece of the package is The Options Course Workbook, which includes "step-by-step exercises and tests" to help people better understand what they have read.

While the advanced options trader may want to leave this one on the shelf, anyone looking for a great introduction to both both beginning and advanced strategies should definitely take a look at The Options Course. ... Read more

Book Description

TRADING CHAOS APPLYING EXPERT TECHNIQUES TO MAXIMIZE YOUR PROFITS

Chaos theory now stands at the cutting edge of financial decision-making methods. The product of years of scientific investigation into unpredictable phenomena, it has the potential to offer traders entirely new perspectives on the movements of markets—and less risky routes to greater, more consistent profitability. Unlike other books on the subject, Trading Chaos takes chaos analysis out of the realm of the abstract and makes complex concepts easy to understand and use. It offers you the most practical, comprehensive guide available to applying chaos theory to the real world of trading and investing.

In this breakthrough work, author Bill Williams gives you the benefit of his unique qualifications: 35 years of successful trading and a PhD in psychology. The instructional techniques used in Trading Chaos have been tested and refined in the workshops, seminars, and private tutoring sessions Dr. Williams has conducted in 12 different countries.

Designed for all traders—from beginner to experienced professional—Trading Chaos introduces you to the financial applications of chaos in five graduated stages, starting with a clear, nontechnical introduction (Level One: The Novice Trader) all the way to chart analysis, fractals, Elliott wave, and advanced nonlinear dynamics (Level Five: The Expert Trader).

Trading Chaos probes depths of human and economic behavior that other books do not even mention, including:

• A detailed examination of the underlying structure of the market
• How individual belief systems affect the way we trade
• How to determine "what the market wants"
• Most importantly—"how to want what the market wants"

Numerous charts, trading models, analysis spreadsheets, and review questions reinforce the key concepts and help insure full comprehension of the material.

Regardless of your current degree of expertise, Trading Chaos will take you to new levels of trading confidence and increased profit.

This practical guide to the powerful tools of chaos theory will help you make better, more profitable trades

"Bill Williams brings a unique background and experience to the commodity trading world. His approach to becoming a successful trader includes many fresh and fascinating concepts for traders of all experience levels."—Bruce Babcock Editor, Commodity Traders Consumer Report

"Bill Williams has demystified the Elliott Wave. His technical approach is an innovative and effective way to trade markets for novice and expert traders alike."—Bob Koppel Skylane Trading Group

"Trading Chaos by Bill Williams is an excellent guide to profiting from a market which is nonlinear in structure. The book is divided into logical levels of trading techniques useful to the novice and expert trader. I was genuinely surprised that the expert can still learn refreshingly new techniques at each level presented."—Timothy C. Slater Managing Director of Dow Jones Telerate Seminars

Trading Chaos takes chaos theory out of the abstract realm and into the real world of practical investment decision-making. Using the techniques in this remarkable book, you will uncover the hidden patterns of what appear to be the random, unpredictable movements of the commodity, futures, and options markets. Regardless of your current level of experience, expert commodity trader and trainer Bill Williams will give you the skills and insights to move to levels of trading ability you would not have imagined possible.

Clear, practical, and nontechnical—Unlike other books on chaos theory, Trading Chaos is designed to be easy to understand and use

Unique organizational format—Introduces the reader to the financial applications of chaos in five graduated stages, from Novice to Expert Trader

Expert advice on avoiding common psychological traps and pitfalls—Including such self-limiting afflictions as the "paralysis of analysis," "opinionitis," and the dangers of trading on individual belief systems

A wealth of supplementary materials—Charts, trading models, trade plans, analysis spreadsheets, and trading diaries illustrate and reinforce key concepts ... Read more

Reviews (17)

Fractals in review
As an avid student of Chaos Theory and Fractals, I found this book to be similar to his other one. Williams eludes to using fractals in his analysis but makes no reference to fractal dimensions, Koch curves, monsters or any of the original theories as proposed by Mandelbrot. He does present some scaling principles and their application to Elliot Waves, but this is under the assumption that the Elliot Wave is correct or that you believe in it. I do agree with some of the money flow theories Williams proposes, which is probably the most clearly explained and substantiated part of his trading theoriey. I recommend "Fractals and Scaling in Finance" by Mandelbrot and for software, "Fractal Finance" by Tetrahex. Both of these follow a similar system, although Fractal Finance does use a MACD which appears similar to Williams.

Joke
The five stars is only for the cover. However, the content of the book is pathetic. I have read many trading books and several chaos books and I can honestly say this book is neither. I fell for the enlightened self-similar structure cover and wasted my money. Don't repeat my mistake.

If you are interested in chaos and trading, start with Edgar Peters books such as Chaos and the Capital Markets.

The publisher, Wiley, should be ashamed to put out this sort of drivel. Bill Williams is a joke. If you think your trading style is based on your body type, then maybe this book will help you feel better about losing; otherwise skip it and Bill Williams, PhD.'s other lobotomized treatises on trading.

Trader Development
This book really is mistitled. Chaos theory for markets is not presented, so look elsewhere for that. The book does present a good theory for the psychology of trading such as "traders differ on value but agree on price" as motivation and explains the development of traders from novice, intermediate, and advanced (skip master and expert level)and the goals for each level. Unfortunately, the methodology for trading with a Chaos background is not touched upon.

Good filler read for background on trading and personal development. Poor on methodology for trading with Chaos. Perhaps Mr. Williams had an epiphany and contends all trades are done in Chaos, so traders should relax. To borrow a line from another author, "some trades will, some trades won't, so what, next trade please."

Donate your money to charity
In the first few chapters, he sounds so attractive, after that, you will find the author using new technical analysis words to describe the breakthrough of the resistance/support and claims this a new concept/idea, but he saying nothing on the book and if you are using his method to trade, you are not far from bankruptcy.
Eventually, you waste your money, then why don't send cheque to charities.

Do not buy this book!
Williams uses big words (fractals, chaos, quantum mechanics) to impress the reader, but says nothing meaningful.I found this book a waste of time and money ... Read more