Rating: Summary: Try it, you'll like it Review: As a subscriber to realmoney.com, I had been intrigued by Mr. Altucher's musings on the site. Enough so that I decided to pick up his book. I am glad that I did.
The strategies provided are simple yet effective when put to the test. If you are new to systems trading there is more than enough to get your started. If you are experienced, then there is plenty there to expand upon and further define to fine tune better results that come from a successful system.
Results are what counts and this book has helped me achieve far better returns than fundamental analysis ever has. Just cull a couple of the stragies you find most appealing and you can start building a successful and repeatable base of systems to enhance your trading returns.
Rating: Summary: For Beginner Review: Bought this book in anticipation of fresh ideas. For the beginner this is a great way to get the mind flowing with new thoughts. Personally I didn't find that it sparked anything new for me. But what doesn't work for some may work for others. If your a seasoned trader I wouldn't get it, but if you are a beginner I would order it right now.
Rating: Summary: Garbage Review: Essentially day/trend trading at high risk. His partner who threatened to buy all of the books issued and burn them and their secrets should have. However at least he's honest that all of one's efforts can be wiped out by rare blips. Not worth the cover price for anyone. There are easier ways to blow your brains (and wallet) out! There are no 'get rich quick' plans without luck. Better go earn a living or invest and not trade! As Clint Eastwood said "A man has got to know his limitations!" Wyckoff's book on How I Trade and Invest in Stocks and Bonds is still a classic and will warn you to get out if you don't have a trader's instincts (and most traders lose too!]
Rating: Summary: A good way to make money, but a great way to get started Review: First, in the spirit of full discolusure, I must state that I work with the author.
As the title states, the book covers 20 uncorrelated trading strategies, all which have been backtested and put through various statistical filters to be deemed profitable. The ideas behind the trading strategies slice the market in various different ways, but all of them rely on a simple application of the scientific method.
Although at the time of publication all of the strategies discussed were profitable, the author does not promise them to be any kind of holy grail, and seasoned traders know that every quantitative strategy is bound to stop working at some point in the future. In that sense, this book will not help anyone figure out a retirmement plan or turn singles into millions in a short span of time. What it will do however is serve as a powerful starting point for anyone wishing to teach themselves the quantitative approach to trading.
The hardest part about being a quant is having the proper imagination to know what to look for and backtest, and all of the strategies in the book go a long way in demonstrating the many ways one can study the markets. Whats more, the book doesnt just teach a trading strategy and go over the backtested results. It also goes over the mental process that lead to the Author's train of thought, and the step by step process that takes one from a vague notion of somethng like "gap downs are bullish" to a fully defined and systematic trading system.
Rating: Summary: Just finished this book....will read it again within 2 weeks Review: Four years of Economics @ an Ivy College didn't do as much as this book did to educate me about the markets....especially Hedge Funds. If you're in the busines......it's a must read!
Rating: Summary: I Love it!! Review: I am a 18 year old College Freshman, majoing in Finance & Economics. This is a GREAT book when you want to know and help yourself develop short-term techniques. It not only states what things are in terms trends, but why they are that way. Well written and a good read.
Rating: Summary: A disappointment Review: I am very disappointed after reading this book. The so call "20 strategies" are nothing but pre-school materials. If any body can calls "Buying when price touches the lower Bollinger Band" a strategy is simply just joking to himself.
Rating: Summary: A Terrible Book: Editorially as Well as Professionally Review: I bought this book expecting to read fresh and new ideas from Wall Street's professional and smart minds. Guess what: the writer is either not smart and professional, or assumes that his readers are all morons.
This guy is so full of it that in the beginning of the book he has the audacity to says that his book is so revealing that one of his "partners" threatened to buy all copies of the book after printing and burn them, presumably so that we mortals would not see their secret (!) trading techniques. My copy is available for burning!
I can definitively say that if this writer and his partners are the best (or even the average) that Wall Street offers, Wall Street needs big help!
Technically, the book consists of a series of childish "techniques" for trading stocks written in sophomoric fashion. Even such childish techniques appear to have been graphed by first graders: graphs cannot even be read without magnifying glass. In addition, most do not even have scales or definitions for their axes. In order to increase the pages of the book, they have these none sense graphs printed one to a page, occupying about a third of a page each! I wonder if the publisher had ever heard of "technical editors" when preparing this book for printing.
This is a terrible book, if one can call such an assemblage of papers a book.
Rating: Summary: I will keep it for reference Review: I liked this book because the author offers creative, original trading ideas. I plan to keep it as a reference, which is more than I can say for most books on the subject. Maybe the readers who didn't like the book were expecting the author to do their thinking for them.
Rating: Summary: Trade Like a Hedge Fund Review: Investors beware. If these systems still worked, you wouldn't be reading about them. Before you throw away your money, run the tests through the current date. You will save a lot of money and heartache.
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