115
people found this helpful, as of 2023
ranked #237,898 most helpful
out of 571,544,897 reviews
★☆☆☆☆
Shameful! What have you contributed to your readers?
This book was incredibly disappointing. The book promises to teach you 40 actionable trading setups that you can use. The editors of this book (the book is compiled by editors from the writings of many authors/traders) start each section by praising the trader who is supposedly going to teach you the trade setup and then that trader starts to talk about himself and his experiences as a trader, if that trader has a company, he throws in a plug for it in the same section. The trader then talks to you about a couple of trades that he has made in the past using his set up. But what is his setup?? You will find yourself asking this question over and over again. One of my favorites is a guy called Michael Bigger who talks about value investing and gives examples of companies he bought and made money selling but never gives you any setups?? He never shares any debt to equity ratios, percentages of earnings growth that he looks for, or any "accounting homework" that he does prior to buying a stock. He shares NOTHING! Another time waster is Eddy Elfenbein who absolutely shares nothing!!!!! And the day traders and swing traders are just as bad. So many of them have basically shared the same thing. Consolidation breakouts, moving averages, RSI, MACD, wedges, and my favorite, nothing! The generic setups that maybe found here are half-assed you can't really use them. They haven't provided enough information to you so that you may use them. Remember they didn't share their edge. They just gave you the generic part. The book has probably about three setups that were useful and the authors behind them were sincere in sharing and were not trying to hide their edge. People like John Lee are traders I respect. Furthermore, please be careful when you read the five star reviews of this book; one of the reviewers is actually non other than the editor himself! (you can check for yourself). With the large number of authors for this book it's hard to tell who some of these reviewers are. It's a shame but this book only serves the editors; it provides them with a platform to stroke the egos of traders who contribute to their website. The editors get to make money publishing what the traders share without them having to do much work! too bad in the process of self service the "value" to the reader is lost.
September 2011 · Books