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Book Review 2010 joea 1 1 29-Oct-10 12:08 pm

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colin_twiggs

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Thursday, December 07, 2006 - 02:30 pm:

Here is my selection.

1. Stan Weinstein: Secrets for Profiting in Bull and Bear Markets
2. Mark Douglas: Trading in the Zone
3. Alexander Elder: Trading For A Living
4. Edwin Lefevre: Reminiscences of a Stock Operator
5. Thomas Bulkowski: Encyclopedia of Chart Patterns
6. Thomas Dorsey: Point & Figure Charting
7. Nicolas Darvas: How I Made $2,000,000 in the Stock Market
8. Jack Schwager: Schwager on Futures - Technical Analysis
9. John Murphy: Technical Analysis of the Financial Markets
10. Edwards & Magee: Technical Analysis of Stock Trends

Please feel free to post your own.

Regards,
Colin

captain_chaza

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Thursday, December 07, 2006 - 04:40 pm:

I am surprised Admiral Col'n you did not make room for

Steve Nison : Japanese Candlestick Charting Techniques
John Bertrand : Born to Win

Salute and Gods' Speed
Capn

Forex data
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"While we stop and think, we often miss our opportunity." Publilius Syrus, 1st century B.C.

"I believe the future is only the past again, entered through another gate."
Sir Arthur Wing Pinero 1893

"There are two times in a man's life when he should not speculate: When he can't afford it, and when he can." Mark Twain, 1897

colin_twiggs

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Thursday, December 07, 2006 - 09:20 pm:

Charles,

Most of us are familiar with Steve Nison, but tell us more about John Bertrand : Born to Win.

Thanks,
Colin

captain_chaza

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Thursday, December 07, 2006 - 11:36 pm:

What can I say?

Those 2 books changed my life in the way I look at Life and Charts

Was it as good for you as it was for me?:?

Salute
Capn

spider

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Friday, December 08, 2006 - 02:10 pm:

Hi Colin,
not in any particular order.......................
from your list;1;2;3;4;&7
Think and grow rich.
Market Wizards 1 & 2

Then go back and read the three that spoke to you the most.

spider.

colin_twiggs

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Friday, December 08, 2006 - 07:05 pm:

Thanks Spider

aidleo

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Saturday, December 09, 2006 - 06:45 pm:

Exploding The Myths

What your Broker Doesn't Know or Won't Tell You.

By Frank Watkins

Best Investment any trader could make.

(Message edited by colin_twiggs on December 09, 2006)

brand

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Sunday, January 07, 2007 - 10:18 am:

Mastering The Trade..John Carter.... It's the Best book out there NOW!!!!

I CAN RESIST ANYTHING BUT TEMPTATION.

nihonjin

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Tuesday, May 08, 2007 - 05:23 pm:

Hi Everyone,

This is my first post. I can't give a top 10 but these are my top 3:

Trading without Fear by Richard Arms
Way of the Turtle by Curtis Faith
Bollinger on Bollinger Bands by John Bollinger

ingot54

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Post Number: 1901
Registered: 05-2004

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Monday, August 13, 2007 - 07:01 pm:

Good evening fellow trading tragics ...

I would like to present a review of an excellent book:

Licensed to Profit by Trading in Financial Markets by Chris Shea.

Many of you will already know Chris.

In earlier days I had a couple of sessions with him, and now he has put much of the material he teaches his clients into a new book:

“Licensed to Profit by Trading in Financial Markets” available from http://www.moneybags.com.au/default.asp?d=0&t=1&id=5267&c=0&a=98

Chris Shea has actually produced a masterpiece here at his first attempt. I don’t know what the dickens the publisher was thinking, letting this book onto the market at $29.95 (Available from the above link for $26.95). That is not only absurd, considering the content, it actually does Shea a huge injustice.

The material covered in his book can take a struggling trader by the seat of his pants, and turn him into a competent winner in any market. Shea uses the analogy of a learner driver obtaining his driver’s licence. And he states that driving a car is much more complicated than succeeding in trading in the financial markets.

To prove it, the author takes the novice through the basics of what trading is about. The process (road rules, destinations, costs of driving, avoiding crashes and accidents, honing driving skills, and finally passing the test for your driver’s licence) are all analogous to trading the markets.

When you consider a trading book of similar material such as Mark Douglas’ “Trading in the Zone” (a copy of which I also have on my bookshelf) it is a no-contest. The approach by Chris Shea clearly appeals to readers of any ability, and does not insult the intellectual, nor confound the slower reader – a fine and interesting balance.

But if “Trading in the Zone” can command $59.95 in bookstores, then “Licensed to Profit by Trading in Financial Markets” should be priced in at around $119-95. I am not kidding!

I challenge ANYONE who has read both books to dispute this view.

I could say Chris Shea displays a touch of genius, but I won’t – that would do him a disservice. He is more than that.

Genius is cold.

Shea is approachable, discerning, generous, and having been down the learning-to-trade road himself, knows the milestones the trader needs to hit, in order to progress.

And progress you will, for Shea has a multi-skilled background – Bachelor of Education, Master of Science, Diploma of Professional Counseling (Psychotherapy) Trading and Market Coaching. All of these disciplines are assembled in an applied way and folded neatly between the covers of his book for the reader to discover – the culmination of much of his professional work with helping traders to solve their trading problems and succeed.

Trading and Trade Management matters are covered well, and possibly some brilliant motivational work as well. I know I could find more superlatives, but why bother - let the reader come up with his own!

It’s not all handed to you on a plate – don’t get me wrong here. But it is made simple for you. Chris takes you through the process of developing competency in trading and trading matters, until finally you get to “sit” for your trading P-Plates! There is no instant coffee here either – there is work to do.

However, I would not refer to it as such – the reading experience is addictive – you will want to finish the book in a sitting! Therefore I advise not attempting to read it on a week-night!

We are fortunate to have a local come out with material like this.

Chris Shea is based in Brisbane, but is known across the world as a support-speaker in seminars, and in a private coaching capacity. He has shared the floor with traders of the calibre of Mark Douglas and Alan Farley (of “Hard Right Edge” fame).

Some of you may also be aware of his retreat (invitation only) held now for a number of years here on the Sunshine Coast.

Traders achieving more than 6 figures annually from trading, attend this retreat, and I mention this to alert you to the quality of Chris Shea’s approach and writings.

The book deserves to be on every trader’s desk.

Licensed_to_Profit

Keep Smiling - Don't look back

Trading style: Chartist Artist _ Breakouts and Shakeouts.

davkell

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Tuesday, August 14, 2007 - 04:57 pm:

Thanks for the excellent review Ingot. I've been contemplating purchasing this book for the last few weeks, and after receiving an excellent email from Chris in response to my completion of his free Trader Profile from his Market Coach website can see that you are right in every comment you've made.

Hence why I'll order the book ASAP before someone from his publishers gets hold of your post and ups the price!!!

Perhaps some traders do believe in the Give Back to all philosophy.

"Trade Your Way To Financial Freedom" - Van K Tharp

"Manage the downside; the upside will take care of itself" - Donald Trump

ingot54

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Sunday, August 19, 2007 - 09:45 am:

No worries Davkell.

Hope you enjoy the book - give us your own opinion when finished.

Bet you are enraptured! (That was mine!)

Keep Smiling - Don't look back

Trading style: Chartist Artist _ Breakouts and Shakeouts.

coyotte

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Friday, August 31, 2007 - 03:42 pm:

Thanks Ingot

Just received a copy from Moneybags (god this mob have slow service ).

Seems to be one of the very rare books that is devoted to the Trader -- only just finished Chapter 1 but seems to be unfolding as a gem.

Pity more newbies did not start down this road first , before getting themselves overwhelmed in Analyst --- think Douglas points this out.

Thanks again for the review

Coyotte

The "Sea of Uncertainty" is defeated by the nimble vessel "Probability", not the unwieldy vessel "Prediction".

davkell

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Friday, August 31, 2007 - 03:52 pm:

Hey Coyotte;

Moneybags are usually A+ on the ball with deliveries. If you're talking about the Chris Shae book... they sold out and were waiting on a back order! I went in this week to buy it directly (save on postage!) and they said another shipment was enroute. And good business practice here, they will send me a copy (I paid there) postage free for my inconvenience.

Just thought I'd mention that because they are a very good company wholly directed at traders/investors.

Cheers.

"Trade Your Way To Financial Freedom" - Van K Tharp

"Manage the downside; the upside will take care of itself" - Donald Trump

ingot54

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Saturday, September 01, 2007 - 12:23 am:

Happy reading Coyote

I sent a copy to a good mate in Newcastle (actually Wollongong) and it was "snitched" by one of his mates the day it arrived!

He will get it back of course, but it goes to show the appeal of the book.

So far no takers on the challenge ...

But if “Trading in the Zone” can command $59.95 in bookstores, then “Licensed to Profit by Trading in Financial Markets” should be priced in at around $119-95. I am not kidding!

I challenge ANYONE who has read both books to dispute this view.

I guess the sellout supports my view.

Davkell

I too have found Moneybags.com to be speedy and helpful.

Oft times I sought a book which was not available, and it was clear they moved a lot of furniture (figuratively speaking) to find a copy. They also suggested alternatives - a top bookstore for traders I agree.

Keep Smiling - Don't look back

Trading style: Chartist Artist _ Breakouts and Shakeouts.

peter1

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Post Number: 166
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Saturday, September 01, 2007 - 06:21 pm:

Thanks, Ivan for your recommendation to read Chris Shea's book, Licensed to Profit. I enjoyed reading it and I will read it again and take notes to improve my trading performance. I particularly liked Chris's idea of the trading gymnasium. A place to practise all aspects of trading, entering, cutting, holding, re-entering, adding, reducing, reversing etc. I will be trying to improve the "verbs" that I do poorly.

We all realise how important it is to keep good records. Chris shows us how to format our results to identify our weaknesses and then suggests methods to improve them. His techniques are easily understood and can be implemented quickly. This is a must for all the traders who really want to improve.

harooki2

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Wednesday, October 01, 2008 - 10:53 pm:

Marber on Markets by Brian Marber

beenjammin

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Thursday, January 01, 2009 - 05:54 pm:

Hi All,

I just picked up a copy of "The Master Swing Trader" by Alan Farley. The reviews on this scattered around various websites seem to be split - some highly positive reports (possibly from his mum or publisher;) countered by extremely harsh criticism of everything from the writing style to outright accusations of no useable content at all.

Im a relative newbie so I dont mind if the info is not so original as I probably wont have seen it before, but I am interested in anyones opinion on if there is anything useable in it and worth the effort to read, digest and test among the 490 odd pages.

Anyone read it? Any good or is it simply "bookshelf ballast"?

Cheers,
B.

rastus81

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Registered: 12-2007

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Thursday, November 12, 2009 - 11:09 pm:

Ingot54,

I agree that Chris Shea's book is very good. Definitely one of my favourites.

I actually bought Trading In The Zone first, which was full of "aha moments". So when i saw your rave review of License To Profit, then I had to have that as well.

My favourite part about both books, is the way they separate Trading and Analysis. It was a great realisation for me. I am better equipped to deal in probabilities now.

I don't know much about book pricing. I think both are outstanding. The thing that I am still unsure about is, "Do people learning to trade, all have to go through the process of finding the holy grail (and failing), before they are ready to accept the idea of probabilities? "

I am sure I read about probabilities a few years ago. But maybe I wasn't ready to properly understand it.....

Thankyou.

Rastus

qed

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Sunday, November 15, 2009 - 09:28 pm:

trading like knowledge is a never ending journey,everyday I learnsomething more. A really good read is "the beginners guide to daytrading online " by Toni Turner.. I found "reminineces of trader " by lefevre a lot of look at my mistakes and learn .. "think and grow rich " is still the one I read over again,and STan Weinstein gives great over view .. good fortune to all who try aand a merry xmas