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Summary: Thank You for writing "Advanced Swing Trading"!
Review: For the first time in 6 years of trading, I feel I have a real "Road Map" to the markets! Chapter 8, which John Crane calls "Market Tells", is worth any amount of money he could aks for!Thank you for writing this book!
Rating:
Summary: Thank You for writing "Advanced Swing Trading"!
Review: For the first time in 6 years of trading, I feel I have a real "Road Map" to the markets! Chapter 8, which John Crane calls "Market Tells", is worth any amount of money he could aks for! Thank you for writing this book!
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Summary: Must Read
Review: Highly recommended for any trader. Great illustrations.Easy to understand.
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Summary: The best of all that I have read!
Review: I became interested in short-term swing trading a couple of years ago. Since then I have studied several techniques and read books by Farley, Markman, Nassar, Angell, Landry and Williams. All these books offered good information and techniques for short-term trading, but none offered the insight into market behavior like "Advanced Swing Trading." After reading John Crane's book I attended a presentation he made at the Traders Option Forum in Chicago. I was amazed at the information he presented about using market action to predict futures highs and lows. That was the first time I realized the market moved in predictable patterns and they could be used to trade the market successfully. By combining aspects of the Andrews Pitchfork and Babson Action/Reaction lines in a unique fashion, Mr. Crane offers a whole new way to predict and trade future market swings. This valuable book offers clear, step-by-step guidance that will allow you to apply this swing trading methodology to any trading account and improve your bottom line. Mr. Crane was not only very gratious in answering my questions at the forum, but also made himself available when I called his office a few weeks later. I was impressed with is professionalism and willingness to help. I have recommended this book to other traders and I would recommend it to anyone looking to improve their trading and understanding of market behavior.
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Summary: How to get a 5-star rating!
Review: I bought this book because of a recommendation from a friend who is also an active trader like myself. I have always had one simple rule to determine if a trading book is worth the hype. If I can quickly learn the techniques in the book and apply them in the market profitability and consider the information good enough to continue using it in my trading, it rates five stars - if not it gets one star - its that simple. I gave this book five stars. End of review!
Rating:
Summary: Worth Reading Twice
Review: I found this book to offer a wealth of information and to be well written. Some of the information described in this book was totally new to me. I had never seen it in any other trading book, and that is why I buy trading books, to learn something new. I did have a few questions after reading the book the first time, but found all the answers during my second reading. The author describes his theories and then follows with detailed illustrations to prove his point. The author also says this book is not meant to be a trading system, which may or not be true because it seems to me the methodology can work as on its own, but he does offer one of the best explainations of market behavior I have read so far. I highly recommend this book, but there is a great deal of information, so you may want to read it more than once.
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Summary: I couldn't put it down!
Review: I just received the Advanced Swing Trading book and have not put it down, it is possibly the best book I have reviewed since Street Smarts. This is just what I have been looking for. I only trade currencies now and have done so for the last three years, although I have been in the market for the last eight. I can't wait to use this new information!
Rating:
Summary: I couldn't put it down!
Review: I just recieved the Advanced Swing Trading book and have not put it down, it is possibly the best book I have reviewed since Street Smarts. This is just what I have been looking for. I only trade currencies now and have done so for the last three years, although I have been in the market for the last eight. I can't wait to use this new information!
Rating: 
Summary: Overly Simplistic
Review: I must say that the book is interesting and well written. Even better, it is not very long. My major problem with it, however, is that it is overly simplistic. In many ways it is similar to Elliot Wave Theory, for whatever value that may still have. The author takes a basic truism and extends it to illogical conclusions. As anyone who has ever looked at a chart will know, market trends are always marked by countertrend moves. For example, a stock may go up for two weeks, then suddenly go down for 3 days then go back up again. The auther calls this three day swing a reaction swing. So far so good. He then espouses that, if you count back from the start of the reaction swing to the beginning of the trend, you will learn the exact number of days that the trend will continue after the swing ends, the "reversal date." Further, you can also learn the price where the trend will end or the next reaction swing will occur by subtracting the price at the start of the trend from the price at the start of the reaction swing. Adding that number to the price at the end of the swing will tell you the price where the trend will end or the next reaction swing will begin, and you already know the day on which it will occur. Sorry, life is just not that simple. The diffieulty is demonstrated by the fact that even in the author's carefully selected examples, his "reverse count," the count back from the beginning of the reaction swing, often goes back to a differing places. Sometimes it goes back to the beginning of the previous reaction swing, other times to the beginning of the trend and still others to the beginning of a reaction swing in a previous trend. As I read this book, I was often asking myself, without any apparant answers, "Why is he counting back to there?" I've got to say that if this really works, I am extremely jealous because everyone except me is getting outrageously rich without doing any work. One can easily spot a "reaction swing" or countertrend movement. Image how great it would really be if all one had to do was wait a day or two into the main trend's resumption, and know with confidence that the new trend will last 11 days and will rise or fall respectively, esactly 10 points. Anyway, if it works for you "Congratulations."
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Summary: Not the Holy Grail!
Review: I really wanted to like this book. I've read it twice and spent some considerable time in revisiting the examples trying to become familiar with the author's methodology. However, there seems to be an operative disconnect between the espoused theory and the demonstrated practice.
First - the negatives. The author's thesis is that it is possible to predict market turning points in advance by identifying a reaction swing, counting backwards to a prior turning point, and then projecting that periodicity forward to derive a reflective, future turning point. But the author does not precisely define how a reaction swing is identified, or how one reaction swing is to be considered while another is to be ignored. The examples in the book do not address the reasoning involved for practical application of this method. This theoretical shortfall diminishes the utility of the reaction swing concept.
Second - the positives. Although this method was suggested before in Roger Babson's action-reaction theory (1910s), the Wetzel Market Bureau's "Course in Trading" (1930s), and Alan Andrews' course (1960s), it was not so thoroughly developed as it is in this presentation. Also, there are a number of interesting trading systems (set-ups) offered which might prove to be useful.
All in all, this book is akin to the photograph of a holy grail as compared to THE HOLY GRAIL. It is an interesting book that presents some time-honored concepts - with a few unresolved issues. More interesting (and usefully profitable) are the Wetzel and Andrews courses.
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