Five Star Futures Trades: The Premier System for Trading the Biggest Market Moves

Rating:
Summary: Too Complex
Review: In all honesty, I didn't try the system or even try to test it. The entry consists of a checklist of 24 chart-based technical indicators or conditions for both weekly and daily prices-- thus 48 items in all. These are explained, sometimes clearly and sometimes vaguely in 19 chapters. Altogether, it is one of the most complex systems ever published. Though it may or may not work, its "kitchen sink" approach makes it too complex to understand well, and if there is one requirement for a good trading system, it is that the trader should be able to comprehend what he is doing and why at all times. If it starts to fail, you will never know why. While each of the technical methods presented is sound, Alexander's use of all of them at once makes for a mess rather than a good system.

Rating:
Summary: More like 2 Star Futures
Review: The book started with so much promise and unfortunately, just fizzled out with very basic, very vague and ineffective TA. Just a very basic primer on moving average crosses, reversal and entry bar patterns, stochastics, MACD, OBV and some other minor items. I did find the Lindahl buy/sell pattern setup to be fairly unique .. though hardly remarkable.

Rating:
Summary: Five Star Futures Trades
Review: This book helped me in several aspects. 1. It helped keep me from over trading (my weakness) 2. It helped me to determine if a move counter to trend was likely to succeed or fail. 3. It has helped my profitability. Yes there are only a few major turns every year, but Alexander also discusses "how to enter a rapidly moving market." This adds to the number of trades one can do with this "system." Other reviews are correct, it is not for the day trader. I did have to read it three or four times and marked it up pretty good. I have three different software programs and found the things from the book could be programmed into Metastock Explorers and Advisors (my lower end software) with some, but not too much, effort.

Rating:
Summary: More like 2 Star Futures
Review: This book is basically a filter system designed for long term trend trading. Its goal is to keep you riding a long term trend, avoid the whipsaws, and keep you from trading too much. Not a system for people who like to day trade. It does however have a section dedicated to timing entries and exits with 60 minute intraday charts; But, thats just an option, intraday is not necessary to make system work. You will need a computer w/software that allows you to customize the length of various indicators, and end of day chart service(if you don't plan on using the 60 min. intraday timing methods) going back at least two years. A subscription to some historical monthly charts are also very useful. Shows you the big picture w/monthly, weekly and daily analysis. Definately worth adding to your library.