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Summary: How to trade in the net connectivity era
Review: Ok, now that every novice traders knows what a flag pattern is, it seems like every market maker is fading it and every novice is losing. Well, if you are on the losing end of that proposition, what to do? Alan Farley has a good set of strategies that can help you overcome this negative net worth situation. Along with Dave Landry's Swing Trading book, I would say that this is a must buy opportunity for the trader who wants to be successful.
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Summary: Buying this book is not a great investment
Review: This book is poorly written: it is unfocused and repetitive. In addition, I am not convinced its content is scientifically sound.
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Summary: Wonderful Job!
Review: I read this book twice, once about 4 months ago and just finished a second reading. It's definitely my favorite trading book (and I've read a lot of them).I use Master Swing Trader as a reference every day. You have to read this book slowly because every sentence has something of value. I found all the setups and illustrations to be very clear and well-drawn. Hats off to the author.
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Summary: Setups hard to follow!
Review: I found the charts and trading set-ups very difficult to follow in this book. Although the author gives some technical indicators as a guide, he does very little to define entry, exit and stop loss goals on each trade. There are other books that I have found more valuable. Toward the end, I found myself skipping pages and skimming text, which I rarely do.
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Summary: knowledge in itself is not enough
Review: One of the important things to do when reviewing books on trading is to evaluate the ratio of substance to hype. Farley's ratio is decent (plenty of substance, some hype but not an overbearing amount). He doesn't try and snow you with idiotic claims, and he points out the pitfalls and uncertain nature of his methods. Sure it's frustrating to read about a technique and then later read about how that technique is far from foolproof- kind of like saying "this method works except when it doesn't" - but hey, that's exactly the way the markets are. Farley tells it like it is, and apparently from the way the reviews here went towards both extremes, some appreciated it and some were extremely bitter about it. A lot of people seem to be turned off by Farley's writing style, but I found it refreshing. He repeats himself a little more frequently than I would like, but in his defense it is mainly when he is emphasizing an important point. His language and description create the sense of looking at a familiar object from a unique angle, revealing aspects of it that were not seen or overlooked before. I think a lot of people were angry or disappointed with Farley because he left things open ended and didn't make any big promises. The truth is that this book will not make you a better trader. It will only make you more knowledgeable. Kind of like if your local mechanic gave you a presentation on how his tools worked. Does that make you a mechanic too? No. Can you become a Navy Seal by reading their training manuals or a pro golfer by reading back issues of golf magazines? I don't think so. Knowledge is a necessary but not a sufficient condition. Most any craft, profession or skill is learned by doing. Most losers burn out long before their learning curve has gotten them anywhere near consistent profitability (...). This book is packed solid with information on methods of swing trading, I don't see how anyone can dispute that, and it is a potentially useful volume for anyone who wants to brush up on technical techniques. The most hyped thing about this book is the title- this book will not make you a 'master' of anything- but it will increase your knowledge of the guts of swing trading and what the method is all about. Don't be dissuaded by the harsh reviews of disappointed readers who were looking for a holy grail or a pat on the back and didn't find it- but don't buy this book if that's what you are looking for either. This book is a good reference guide and a decent training manual- nothing more.
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Summary: Must Read
Review: Mr Farley's book is a must read for anyone serious about learning the day trading business. The technical analysis techniques taught in this book go beyond mere day trading, encouraging and instructing the reader how to identify price patterns and swing points.
I came to this book with several years of trading experience and a plethora of investment books behind me, so I can say without a doubt, this is one of the better books in the industry. It is well illustrated with nearly 200 charts and examples, and Farley's explanations are detailed and moderately easy to follow. I must admit, however, that I had to read the first two chapters twice before pressing on with the rest of the book.I paid retail [cost] for the book, and found it a bargain at that price.
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Summary: A Good Technical Analysis Reference Work
Review: This is a very thorough technical analysis book designed to fill the gap between day trading and long term investment approaches to buying stocks. It is both clear and thorough. It is suitable for beginner, but is perhaps best used by someone with some familiarity with the techniques of technical analysis.
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Summary: Great Book to avoid danger
Review: New traders and recently burn ones will find this book to be very useful, It helps you to better understand the techniques used by successful traders, great to avoid some mistakes in being a fad (all buying or all selling trader) instead of a swing (understand when to get in and why) trader, remember that the trend is your friend and not jump into a highly volitile trend that is most likely to reverse. My congrats to Mr. Farley... and what a great site...
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Summary: Definitely a MUST READ
Review: I got more out of this book than all of the other books I have read put together. I've seen Alan in person and he clearly knows what he is talking about. I can tell you he puts his heart and soul into his work and his teachings. This is a must read for any trader. You dont just read a book like MST once. Use it as a handy reference for your day-to-day trading. And it is PERFECT for succeeding in a bear market.
Rating:
Summary: A Treat
Review: This is a practical, comprehensive and valuable book. It's for all types of markets and that's what I loved about it. In fact, any investor or trader could use it, regardless of chosen strategy. I was very impressed by the depth of Farley's research, which is presented in a colorful and narrative style. It educates even experienced traders and dispels many market myths. Good job.
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