Rating: Summary: It is the ultimate - but not for everyone. Review: 12 out of 10. But not for everyone. The book is designed to help ~you~ develop a trading system, it does not hand one out to you on a platter. Actually it does serve up many, many, many different systems, tests them, explains them in extreme detail to the point that you could computerise them (if you have that skill) however you won't find any of them work wonders. If however you are very skilled you will get a lot of inspiration from this book. For example, if you are already very advanced, and have developed your own systems either in your head or on computer. If you are a beginner / novice you might be completely overwhelmed. Read the other reader reviews and you'll see generally those who are experienced loved it, those new to trading wanting easy answers hated it / disappointed. It is one of the few books I am reluctant to promote because I don't want the secrets in it to get out - ha! oh well hopefully most people won't get it.
Rating: Summary: this is a must have book for the serious trader. Review: As a full time futures/stocks trader I have bought countless books on the subject. Until UTG my favourite was Larry William's futures online offering. However I found UTG to be much more specific and explained with better clarity. It really is a must have for both the discretionary and (particularly) the systems trader. Trading is not a get-rich-quick scheme and involves much pain along the way. This book dealt with those issues with a refreshing honesty.
Rating: Summary: ultimate ? Whoa! blue boy ! I think NOT Review: disappointing on the second read. No mention of their best system "anticipation" by wayne griffith as tracked by future truth magazine. I respect what John Hill has accomplished and George's programming prowess and trading know how. But it does not come out in this book. My impression is that the book tosses out a few ideas and random thoughts but I did not come away saying "whoopee" i see the light ! Most of the ideas are not tradeable without considerable thought and pre-existing market wisdom. Tossing out portfolio tests without insight is like saying look guys my excalibur programs can run this type of analysis...so what...WHERES' THE BEEF ?
Rating: Summary: Good, But Far From "Ultimate" Review: Don't let the title fool you -- this book is not an ultimate compendium in any way. You won't find anything on candlestick charting nor anything on volume-based indicators. With such large omissions the book doesn't deserve to use the title "Ultimate" -- that said, though, this book is a welcome addition to the trading literature. If I were to nename the book I would title it "A Good Little Book on Trading." The chapter on 2- and 3-day bar chart patterns has some new ideas and the chapters on evaluating and using mechanical trading systems are very worthwhile. I am impressed by the material on historical backtesting because it addresses the statistical problems and pitfalls that many traders make (too many systems are optimized to produce statistical false positives). The authors backtested a non-optimized system and compared it with dynamic optimization and found optimization underperformed the static version of the test! In a nutshell, despite it not being "ultimate" this book is "quite good" and will give you fresh insights not seen anywhere else.
Rating: Summary: Trading Wisdom of the Ages Review: Having traded futures for over 20 years, the last five full time, I have read countless books and articles on trading systems. The Ultimate Trading Guide brings together the wisdom of a trio that has probably seen more systems than virtually any other threesome on the planet. This invaluable book provides practical guidance on how to design, develop and trade a winning system. Traders who ignore the book's precepts do so at their own risk.
Rating: Summary: good reading but short on specifics Review: I advise potential traders to buy this book. It has some good ideas although the specific results on backtesting is not always provided. I liked larry williams book on long term secrets of short term trading because most time he mentioned a strategy he would show the results of backtesting it. The hill book does have good ideas and the assessment of trading systems which have been succesful such as ABERRATION makes you think about losses to be endured on your way to bill gates fortune. May be the best option is to give your money to a broker and ask them to trade a proven long term system eg Mystery system (see the book ), Clearly simple systems are robust and work over time. The channel breakoutsystem still appears to work if you can stand the drawdown. Some apparently highly rated by thier own futures truth magazine systems such as DUAL THRUST are not mentioned. Overall a useful contribution. I am sorry but the book does not live up to its title although it is good.
Rating: Summary: A Realistic Look At Trading Review: I found the book most helpful for my particular style of trading and give it the highest rating. The particular aspects that were of benefit to my trading are: 1. Looking at the big picture from a supply/demand point of view. This helps me select stocks/commodities that are likely to have a significant move. 2. Practical use of the Elliott Wave theory. If any theory needs help, this one does. This book guides one in trading this theory. 3. How to enter and exit the market via the use of short term trading patterns. Nineteen short term patterns are given that would be useful to short term or day traders. 4. System design and implementation based of interpretation of the charts. I also note that some reviewers find the book of little value. That may be true for some people but definately not for me. I wonder if these comments came from people with a built in bias. One, who was not identified, comes from a geographical area in close proximity to a well known rainbow merchant. Frankly, I am surprised that there have not been a lot of negative reviews by disgruntled rainbow merchants selling "smoke" based on what I know about the authors and their work at Futures Truth.
Rating: Summary: excellent book... period! Review: I have been trading for 15 years (full time) and I have my own trading system which I have developed. I find this book to be one of the best books ever written on the subject.
Rating: Summary: The Ultimate Trading Guide: A must. Review: I have read The Ultimate Trading Guide by John Hill, George Pruitt and Lundy Hill with much pleasure. It is one of the best books I have read on the subject. It is clearly written and gives you the tools to design trading systems. It also is realistic and does not promise you The Holy Grail. I have learned a lot from it.
Rating: Summary: Actually Pretty Good Review: I would normally give this only 4 stars but people have been giving Mike Covells poor book on trend following 5 stars (I would give it 1) so Hill gets 5. This is a good review of a range of approaches to the market. It also gives you (free) a number of workable systems that you would pay a lot for elsewhere. If you email them with questions they will also answer. Their work on Commoditity Channel Index is limited but so what. I use CCI possibly in the same way that Howdy does but I dont find that missing one (of so many) ways to make or lose money in the markets is much of an issue. There are lots of great strategies in here ... look up Woodies Club on the net if you want a CCI based one as well. Good book John.
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