Saturday, December 22, 2007

The BEST trading book

I have read tons of books on trading over a 10 year time span and i think by far the book that opened my eyes on trading has to be the "Master Swing trader" by Alan Farley. He is my idol and i really admire his insights and his approach. Check out his website at www.hardrightedge.com

Read the book, it will inspire you.

Good trading!

5 comments:

Ragin' Cajun said...

I have been looking for a good trading book, I think I will pick this one up.

Stewie said...

it is a very good trading book. it is very technical with tons and tons of charts and he explains his 7 favorite setups and he explains the importance of looking into the micro timeframes to uncover hidden patterns on the larger timeframes. Something i use in mrkt analysis day in and day out. Many times the 30 min. charts will uncover pattern that the daily charts are hiding. etc etc. Truely awesome stuff. I use his coiled spring pattern all the time. CSIQ offered a perfect coiled spring setup on friday. Alan Farley is truely a trading pioneer IMHO.

OBAT said...

Bought this book a couple years back. It was a bit hard to read and I don't think those concepts sunk in yet. So I think I'll read it again. What do you think are the important chapters?

Stewie said...

hi obat. like i said this is a very technical book with tons of charts. I think you should re-read the book. trading books always make more sense the second time around. I am unable to find my copy of it but i reading the whole book you get to understand the importance of analyzing the smaller time frames in order to detect hidden patterns in larger time frames. The coiled spring pattern and the dip trip are two techniques that i use in my trading today. The dip trip is some what similar to the holy grail and the coiled spring comes from the idea of price contraction leads to price expansion. The bottom line, is that Alan Farley opened my eyes a few years ago about the importance of analyzing smaller time frames to gain an edge and get infront of the crowd, something i use day in and day out. That's why in my mrkt analysis i am always plotting/mapping out on the 15,30 and 60 min. time frames to detect mrkt direction etc etc. hope this helps answer your question.

Stewie said...

One more thing: if you are a novice trader and buy this book you will regret it. This book is NOT for new traders. THis book is a wealth of knowledge to the passionate and the somewhat experienced trader. it's a trader's trading book. He throws at you chart after chart and isn;t trying to impress you with his fancy schmancy writing style. he is a real trader who has been around for many many years and wants to share his knowledge. hope you enjoy if you decide to read it.

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