Trading Day by Day: Winning the Zero Sum Game of Futures Trading

Rating:
Summary: Trading Day by Day:
Review: Chick Goslin brings decades of experience and success sharing his day trading techniques. He is knowledgeable and credible. I enjoyed the book and found his methodology useful and profitable. I highly recommend his book.

Rating:
Summary: Trading Day By Day Hits The Mark
Review: This book builds upon the concepts presented in Chick's first book "intelligent Futures Trading". Although to say it builds upon those ideas is really an understatement -- this new book really zeroes in on trading ideas that are more easily applied and understood because the author has sharpened his focus and his methods. Ideas such as trading concurrent mode markets is a groundbreaking idea and very effective methodology. And anytime a book can present a profitable trading method that has never appeared in print....well you are on to something! And there are several more profitable "rules" that I have not seen in any other book.

After Chick has covered the basics of his method, the real heart and soul of the book is a day-by-day analysis of several commodity markets. Each day includes a chart and momentum oscillators updated through that day with Chick's actual real-time comments he made at the time and his post-mortem comments. In addition to seeing how a real trader applies his methods on a daily basis, you will see how even the best of traders using their own methods such as the author are not right all the time, that no one is perfect in the tradng game. It is how you handle yourself when you are right and when you are wrong that makes the difference in addition to a solid trading method.

Whether you take to Chick's methods or not (and I suspect not everyone will be in synch with his approach), the book is still highly recommended even if you don't end up using his methods for your own trading.




Rating:
Summary: A must read for anyone serious about trading in futures
Review: This book is an excellent insight into the methods used by a successful trader, which Chick Goslin is.

Chick is not a day trader. He takes a position and will hold it until his oscilators and moving averages tell him it is time to get out, but the methods and ideas in the information in his book can also be adapted for use in daytrading, even on very short time frames. Chick has good insight into a variety of markets, as you will find in the book. There are also some sound ideas for approaching trading as a business.

I find it worthwhile anytime I can learn something from a successful trader. There is so much to learn in this game, and some people have methods that work over a wide range of markets. I believe Chick is one of those people.

Basically, this is one of the best if not THE best books in my trading library here. No flannel, just good information all the way through from someone who has actually made millions and still does from trading.


Rating:
Summary: Best book so far on trading technique
Review: Unbelievable! This book holds your hands, lays down the rules, shows the technique, and walks you through the technique - day-by-day for various futures market. Haven't read such a book on trading. I have applied his principles, and seeing the clear (positive!) diffence in my trading.

The theme of the book is to trade with the trend. Look at he long, medium, and short term trend, and trade.

Basically, he point out ...

There are three natural laws of trading-no more, no less-and they are:
1) THE FUTURE IS UNKNOWN (Don't waste time to predict the price, rather look back)
2) CONTINUATION IS MORE LIKELY THAN CHANGE (trade the trend. Look in the past, if prices are going up, they will, if going down, they will, and if sideways, stay aside from that market, in short, trade the high probability markets)
3) PRICES FLUCTUATE (Take profits, and cut losses, after all trading is a business).

There are numerous examples, suggestons, and guidance from his 30 yrs. of experince. Of course, there is no holy grail, and he admits he makes mistakes too, but as long as emotions and trading decsions stay away from wach other (and this book shows how), you increase the probability of winning.

Normally, I never mark or underline anything in my book, but this book prompted me to underline various points.

Highly recommended book.