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Title: High Probability trading by Marcel Link ISBN: 0-07-138156-2 Publisher: McGraw-Hill Trade Pub. Date: 17 March, 2003 Format: Hardcover Volumes: 1 List Price(USD): $39.95 |
Average Customer Rating: 4.83 (23 reviews)
Rating: 5
Summary: This is the one!
Comment: At the risk of being repetitive, I'm going to have to give this book another stellar review. Like many others, I have read a hundred other trading books and this one stands heads above the rest. The author is obviously an active trader and is not ashamed to divulge his weaknesses, even current ones. He covers all of the necessary bases (psychology, money management, risk management, setups, tradeable markets, etc.) without being exessively wordy. He is one of the few traders who can actually write relatively well. He manages to explain arcane and complex trading concepts using understandable and economical word choices. The review structure at the end of each chapter is an excellent technique to enhance the learning process.
Yes, most of the information is more useful to the novice trader but one neeeds a basic comprehensive understanding of trading to get the most benefit. On the flipside, since it is so inclusive, the book could serve as an excellent refresher for the seasoned trader. That trader might even come across a concept long forgotten and be able to turn it into a profitable strategy.
HPT has become my primer. I come back to it every few months to review sections that I feel weak in. I recommend this book to everyone who asks me for that "one book" that can get them a head start in learning to trade.
Great job Mr. Link! I eagerly await your next contribution to the world of trading literature.
Rating: 5
Summary: The best trading book I ever read
Comment: I had read tens if not over a hundred trading books (and written many reviews here on Amazon), This is by far the best I ever picked. It really helps!
The author had covered most of the topics that should be included in a compleat guide of trading (trading psychology, uaage of TA, money management, trading system development....). Some of his key points are:-
1. Top traders are essentially pro gamblers who only bet when the odds are in their favor.
2. Trading must be dealt focusedly as an entrepreneurial business with loss (must be relatively smaller than profit) taken emotionlessly as regular business cost.
3. Good money management is the common denominator of all successful traders irrespective of their style.
4. TA is bascially a trend/fact finding process to be searched through multiple time frames, verified with different indicators, and that TA can be applied on indicators as well (trendline in MACD, and CD between price and MACD)
I personally like the no nonsense and humorous writing of the author much. The summary and point form "do's and dont's" in the end of every chapter did help me to memorise what I had studied for long. His clever use of graphs in the TA tools section is really outstanding. Believe me or not, his use of less than 10 pages on the explanation of MACD is a lot more powerful than many TA books that used up over 100 pages on this single topic.
In short, it's a must read for any player who wants to improve his/her edge over the ocean of competitors in the market. My salute to the author who writes me this excellent book.
Rating: 3
Summary: Good, but over written
Comment: This is a good book. Covers all the bases.
BUT it is over written and repeats itself too much.
In fairness, Mr Link does say he will repeat his material - he claims this aids the learning process. But, I personally find this a patronising statement, and I wish the book was more concise.
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Title: Come Into My Trading Room: A Complete Guide to Trading by Alexander Elder ISBN: 0471225347 Publisher: John Wiley & Sons Pub. Date: 19 April, 2002 List Price(USD): $49.95 |
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Title: The Master Swing Trader: Tools and Techniques to Profit from Outstanding Short-Term Trading Opportunities by Alan S. Farley ISBN: 0071363092 Publisher: McGraw-Hill Trade Pub. Date: 13 December, 2000 List Price(USD): $55.00 |
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Title: Advanced Swing Trading : Strategies to Predict, Identify, and Trade Future Market Swings by John Crane, Marketplace Books ISBN: 047146256X Publisher: John Wiley & Sons Pub. Date: 12 September, 2003 List Price(USD): $69.95 |
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Title: Trade Your Way to Financial Freedom by Van K. Tharp ISBN: 0070647623 Publisher: McGraw-Hill Trade Pub. Date: 01 December, 1998 List Price(USD): $29.95 |
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Title: Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude by Mark Douglas ISBN: 0735201447 Publisher: Prentice Hall Press Pub. Date: 02 January, 2001 List Price(USD): $45.00 |
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