The 1-Day Breakout Method

Rating:
Summary: total waste of money. DON'T BUY IT.
Review: I only gave 1 star because they won't let you give no stars. This type of trading book goes under the genre of 'very expensive because theoretically, you can get your money back by making just one winning trade.' Don't fall for it: this book (at app. $1.00 per page!) is absolute and total rubbish. Basically, it tells you to look for a stock making a 20 day high, then after a one day pause, enter the breakout on the so called 'trigger' day. But get this: on page 22, the author(s) make the following stunning admission and I quote: "As you can see, this method is simple and easy to identify. Here is the catch: Most trigger days will never occur. This is one of the keys."

Can you believe that?? If most trigger days NEVER occur, then what the heck are you looking for? The authors provide some arcane and screwy explanation, saying that you are looking for many small trades with minimal losses and app. 1 in 6 or so trades will work. Aha, so that's the KEY? (LOL). Hey, aren't we ALL looking for many small trades with minimal losses? Problem is, tradiung is an extremely difficult and complex thing to do, thousands of books have been written on the subject, and the above method is surely not THE ONE.

As if this isn't bad enough, the book is poorly written with very weak and incomplete examples. For example, the so called 20 day high, pause and trigger days are shown by a series of seemingly random OHCL bars, but what exactly are we looking for here? Dojis, high-low, low-high bars and in what sequence? Also, no examples of securities with precise entry points in terms of price are given.

Readers should always be extremely wary of home grown trading books (this one appears to be self-published), written by folks without established financial credentials trying to snag a quick buck from information-hungry or novice traders. Truly shameful.

Rating:
Summary: Good Strategy to Trade With
Review: Simplicity. There is nothing like it. I have often thought that the simplest method can often yield the best results in all areas of life. This strategy is no different. For those of you with backgrounds in technical trading, I think that you will really appreciate what this book has to offer. Folks who are not familiar with moving averages and bar charts may not be able to fully appreciate the power of this simple strategy. In any case, if you need a strategy that will help you find trading opportunities day-in and day-out, then you should give this book a good, long look.

Rating:
Summary: Simple 1-Day Strategy
Review: The book is only 40 pages, but it gives the reader and in-depth explanation of one trading strategy. Setups for this strategy don't occur on an everyday basis, so you can't use this strategy for your everyday trading. What I really liked is how the explanations of this one strategy taught me to look at specific components of trading setups and helped me develop and track my own trading strategies. Not great, but very good.