Book Description
Every day, stocks, bonds, and currencies bounce wildly in response to new economic indicators. Money managers obsess over those statistics, because they provide crucial clues about the future of the economy and the financial markets.
Now you can use these indicators to make smarter investment decisions, just like the professionals do.You don't need an economics degree, or a CPA... just this easy-to-use book.
Former TIME Magazine senior economics reporter Bernard Baumohl has done the impossible: he's made economic indicators fascinating.
Using real-world examples and stories,Baumohl illuminates every U.S. and foreign indicator that matters.Where to find them.What they look like. What the insiders know about their track records. And exactly how to interpret them.
Whether you're an investor,broker, portfolio manager, researcher, journalist,or student, you'll find this book indispensable.Nobody can predict the future with certainty. But The Secrets of Economic Indicators will get you as close as humanly possible.
What the numbers really mean...
...to stocks, bonds, rates, currencies, and you
Ahead of the curve: spotting turning points
Calling recessions and recoveries in time to profit from them
Leading indicators: where's the economy really heading
Decoding initial unemployment claims, housing starts, the yield curve, and other predictors
Beyond the borders
Why foreign indicators are increasingly important—and how to use them
Making sense of indicators in conflict
What to do when the numbers disagree
Finding the data
Free web resources for the latest economic data
Download Description
Every day, stocks, bonds and currencies bounce around wildly in response to economic indicators like these. They're monitored obsessively by the world's leading money managers. Why? Because they provide crucial, subtle clues about the future of the market -- and of individual investments. Now you can profit from these indicators just like the professionals do. You don't need an economics degree, or a CPA -- just this easy-to-read book. In plain English, renowned economic journalist Bernard Baumohl helps you find the numbers, understand their deepest meanings, and use your knowledge to make fast, smart investment decisions. For each key indicator, Baumohl presents a sample release, insider's information on the indicator's track record, and step-by-step instructions for decoding it. Baumohl covers both US indicators and the foreign indicators that are becoming increasingly important to investors. He answers key questions like: Which indicators are most likely to affect my personal investments or business? How does each indicator affect interest rates and bond prices? Stock prices? The value of the dollar? And what can these reports tell me where the economy's really heading?
Customer Reviews:
A great book for students and lousy choice for Investors!.......2007-09-25
The utility of this book is directly related to what your objective is going to be ..
1. If you are a student who want to learn economic indicators, this book is a must read. In simple language and interesting examples, every economic indicator is explained.
2. If you are like me, an investor trying to decipher the economic indicators to make meaning to your investing decisions , you are better off tracking the tigers directly than analysing the terrain and weather patterns ( with some high level information that you can pick up from yahoo finance,CNBC etc ..example : Missed Durable goods meant stocks are down today )
Still if you are determined to understand the economic indicators, this is how you can maximise your time..
Every Chapter is an economic indicator has the following sections:
Market sensitivity (read the chapter if it is high or skip it entirely)
Why is it important ( read it)
How is it computed ( skip it)
Market Impact ( read it)
The world is already complicated and in a frenzy. Spend your time with your kids, get some fresh air or even watch TV than reading these type of academic books (Exception Students and to some extend Money managers)
Usually market takes care of the numbers within the first 15 minuts of a trading day on bad or good news!I am sure Warren buffett wont spend more than 15 minutes of his time a week digesting these news ( if at all he follows it)
If you trade sporadically, You may chose to read my review about an excellent stock market related book... Something that you can act upon!
The Successful Investor: What 80 Million People Need to Know to Invest Profitably and Avoid Big Losses
Great book.......2007-09-01
Before I read this book, I had no knowledge in any aspect of the field of economics. After reading this book, I was prepared enough to earn an easy A in the macroeconomics course I took this summer at the local college. The book was easy enough to read for someone with no economics background; and it had enough advanced information to completely prepare myself for an easy A. I strongly recommend this book to everyone, no matter of your previous knowledge. You will learn a lot.
Best book on Economic indicators I've read.......2007-08-30
This book was EXACTLY what I was looking for. I wanted a book that will tell me which economic indicators stocks were most sensitive to, what they were, and what I should look for.
This book for perfect for that. The look lists out the 10 most important indicators for not only stocks, but bonds and the US Dollar currency as well. Not only that, it lists our almost every economic indicator regardless if it's in the top 10 or not. So you read up on every economic indicator regardless of where it's in the top 10 or not.
It also includes foreign economic indicators which was very useful.
If you want to know about economic indicators, this is the only book you need.
Good Resource.......2007-08-27
The author does a thorough job detailing each individual variable that he covers. In addition, he gives a good framework for conceptualizing where each variable fits into the overall economic landscape. Categorizing each variable by High, Medium, and Low impact along with an explanation as to why is another important and helpful feature. The individual variable synopsis can be a bit redundant if you are reading cover to cover but the redundancy helps to increase its value as a ready reference.
I recommend that all financial/business analysts have something like this unless they are so fully immersed in this data that it is second nature.
The only reason for 4 stars is that it is pointed a bit too much toward the lay reader (but of course this was the author's original audience so, bravo).
Excellent Basic Information About Important Economic Data.......2007-08-19
Baumohl begins by telling us that at least 43 American economic indicators are published each month by our government, and how they are released under strict conditions that prevent anyone from early (unfair) access. He also explains that foreign indicators are also important - nearly half of S&P 500 company earnings come from outside the U.S., and they own about 15% of U.S. equities, 24% of corporate bonds, and 40% of U.S. Treasuries, totalling some $1.5 trillion.
"The Secrets" then briefly reviews "The Lingo", before spending most of its pages covering "The Most Influential Economic Indicators." Employment data are first, and Baumohl explains how they are derived, their limitations, how sensitive the bond and stock markets are to each one of them, etc. Retail Sales, Consumer Confidence and others are then also reviewed in the same manner. (It was particularly interesting to learn why Consumer Confidence survey data is more erratic than the University of Michigan's data on the same topic - the latter largely uses the same group from one survey to the next.)
Then its on to foreign indicators, and free Internet sources for the data. (Economic indicator data used to be available only to those purchasing special services, per Baumohl.)
Book Description
Managing employees in today’s rapidly evolving workplace can sometimes feel like negotiating a minefield. Such recent new trends as flextime, telecommting, 360-degree feedback, the flattening of hierarchies, and the increased use of temps and contract workers present tough new challenges for supervisors in every field. This timely, completely revised and updated edition of Ferdinand Fournies’s classic management coaching "bible" shows you proven ways to get workers to perform at the highest level while eliminating the self-destructive kinds of behaviors that have become increasingly prevalent in recent years.
In this book, you’ll be taught specific face-to-face interventions you can use to enhance performance in every kind of workplace situation--from sales to creative brainstorming. There are also interventions uniquely suited to resolving problems ranging from low productivity to absenteeism to conflicts between individuals. You’ll learn precisely what to say and do so that each person you supervise will want to give you his or her best work--even when that person was previously thought to be a "problem employee." Packed with brand-new case studies from Fournies’s latest research into the dynamics of the modern workplace, this classic guide takes all the guesswork out of becoming the kind of inspired, "hands-on" manager that every company today is looking for!
Customer Reviews:
A valuable reference on an important skill.......2007-09-02
This is an excellent book on coaching. You will read other views here to the contrary, but that is largely due to the many interpretations of the word "coaching." My primary focus is coaching managers and salespeople in a highly demanding, very technical field. There are many useful and effective tools presented in Fournies' work. Not everything will be applicable in every situation, but this book will give you many ideas for respectful, empathic coaching. If you are a "life coach" or a "mentor" you may prefer other techniques, but you'll still find some good advice here. Looking for achievement and opportunities to provide reinforcement can hardly be considered bad advice. Many managers simply don't know how to make the transition from technical expert or great performer to someone responsible for the performance of others. Fournies gives some valuable tips on doing so.
My recommendation is to read several books on coaching, beginning with John Whitmore's 3rd edition of Coaching for Performance. If you coach salespeople, also read Managing Major Sales by Rackham and Ruff. And if you are coaching others, read Emotional Intelligence by Daniel Goleman; coaching others requires, first and foremost, self-awareness, self-regulation, and empathy. Goleman's book will raise awareness of the importance of these qualities in business and in life.
Great Handbook for New Managers.......2007-04-03
I have been a sales manager for 10 years. In that time I have read close to 100 books on management and leadership. this is one of my favorites. It is an easy read, it makes solid points and it provides clear direction on what a manager needs to do to help get the most out of their people. I highly recommend this book.
Best business book EVER.......2006-11-10
This is a must have for anyone in a supervisory or managerial role. Simple concepts, easy read...with actual dialogues to help you practice the coaching techniques discussed. And best of all, IT WORKS.
One of the most useful management books yet.......2006-11-06
I wish I had found this book when I started managing people 20 years ago, it would have saved me a lot of painful trial and error. It is a remarkably practical guide that addresses the main problem that many managers face: how to confront performance issues in a way that will yeild a positive outcome, while not crushing or otherwise demotivating the employee. It includes examples of realistic conversations (including the extended silences that often happen, and the brush-off responses, the stalemates). It is also a book that can be constructively shared with your entire team - including those with performance issues - as it helps defuse all emotion and keeps the conversations on the actual and observable behaviors that are getting in the way of the business.
Most Disappointing.......2006-08-24
Having worked in the mental health community for sometime, I was already familiar with this technique and have been using it already. I felt the book was really droll and somewhat condescending in tone. I wouldn't purchase it again. His companion book "Why Employees Don't Do What They're Supposed to Do and What to Do about It" is a more practical read and enjoyable too--I would recommend that one.
Book Description
Technical Analysis of Stock Trends was the first book to produce a methodology for interpreting the predictable behavior of investors and markets. It revolutionized technical investment approaches and showed traders and investors how to make money regardless of what the market is doing. Now in its ninth edition, the book remains the benchmark by which all other investment methodologies are measured. An indispensable reference for technical traders, investors, and finance professionals, the ninth edition features:
* Expanded treatment of Magee's "basing points" procedure
* In-depth discussion and dissection of Dow Theory
* Extensive new material on commodity trading
* Much-needed perspective on short-term and futures trading
The newest incarnation of one of the true classics of market analysis, this book will be a crucial resource for both seasoned veterans and the new generation alike.
Customer Reviews:
Old classic version is much better!.......2007-09-03
Most of the information presented in this book comes from the old classic version from the original authors John Magee and Robert D Edwards. You get more "bang for your buck" if you buy the used older version 4 or version 5 (Revised) and still have some money left in your pocket.
I remember paying just $12.50 for Version 4 in the early 60's. I don't think the supplements(upgrade) to the text to bring in modern stocks is worth the extra money. The price patterns are like road signs you should be able to visualize them on any chart regardless what time-frame. After you have read this book you should be skillful in drawing trend lines,channel lines, and identifying trends. Even today you see the same old basic chart patterns occur as the old fashioned charts a century ago. No oscillators or momentum-based indicators are needed. Experience is your best teacher when you look at chart patterns and there are many more to identify that you don't see in this book. In the market you must look at what is happening now then predict what is going to happen, not what has already happened to make money. The market always looks through the front windshield not through the rear view mirror.
An interesting Chart pattern book I would recommend you to read after you have read this book and check his website for more books /chart patterns. "Getting Started in Chart Patterns" by Thomas N. Bulkowski.
Who was John Magee? Can read about him in this book entitled. "100 Minds That Made the Market" by Kenneth L. Fisher.
Not just updated, completely new and must have..........2007-04-29
If Edwards and Magee wrote the bible of technical analysis in 1948 when they first published "Technical Analysis of Stock Trends." then why do we need a Ninth Edition of their classic? This question was foremost in my mind as I began reading this recently released version of a book I spent many hours with as I prepared for the CMT exams. After reading all 832 pages, I realized that in many ways, the financial markets, and technical analysis, are finally maturing to the point where we can fully grasp the significance of what was first written almost sixty years ago. With a focus on pragmatic portfolio theory, editor Charles Bassetti significantly contributes to the technical analysis body of knowledge especially related to tactics, and has created a book worth a space on every technician's bookshelf.
In this edition, Bassetti delivers much more than an update - it's actually a new book. He focuses on strategies for increasing profits:
* The basics of traditional chart analysis are clearly presented, just as Robert Edwards meant for them to be. In keeping with the practice of earlier editions, Bassetti retains the original charts showing examples of patterns from the 1940s and earlier. He also includes more than two dozen new charts, demonstrating that the same old patterns still work today. The detailed discussion of the market psychology that forms these patterns may stimulate modern analysts to program the patterns.
* Adds a comprehensive explanation of Magee's "basing points" procedure for setting initial and trailing stops on any position. Bassetti adds a chapter and charts to clarify this powerful concept, which in itself is worth more than the cost of the book.
* For what may be the first time, Bassetti provides an annotated chart of the Dow, combining an in-depth discussion of Dow Theory with a visual history of the signals. We've all seen tables showing the sell signal in Oct 1929 or the buy signal in late-1990 which lasted more than seven years, but the chart erases any doubt that Dow Theory is a valuable timing tool. Creating a comprehensive source on the Dow Theory, he also includes an overview of Robert Colby's method to automate the signals.
* Provides a link to www.edwards-magee.com, which offers downloadable material that supplements the text. As one example, readers can download pdf files of the Dow Theory signals for closer examination.
* Offers new perspectives on short-term and futures trading. The extensive new material on commodity trading, including a complete trading plan, was not addressed in previous editions.
Bassetti also ensures the reader understands the similarities between Magee's Sensitivity Index and Modern Portfolio Theory's Beta; and the striking resemblance of Magee's Composite Leverage to the financial engineering concept of Value at Risk. Readers of previous editions may not have realized that Magee developed these concepts decades before Nobel Prize-winning work was undertaken in these areas. Magee wrote in the language of the trader (semi-log charts), rather than the academician and his ideas have been overlooked by economic theorists.
A classic book is one that stands the test of time. No one can argue that Technical Analysis of Stock Trends fails in this regard. Patterns that worked a hundred years ago are still found in financial markets and they still work. The forecasting ability of patterns lies in their ability to document the history of human nature, which remains unchanged over many centuries.
Another feature of classic works is a unique style. Edwards and Magee filled their work with examples - current at the time of publication. They wrote with clarity and ease of style not usually found in textbooks. Their text was a practical "how to" manual that explained the "study of the action of the market itself" in concrete terms. It appealed to those seeking the Holy Grail on Wall Street, and to those serious students of the markets seeking an edge. In this new edition, Bassetti retains all of their style and introduces his own, which in all ways is similar to the original, but with a modern edge.
Bassetti believes that Magee's concept of basing points is worth a great deal of additional study. This is one of the most significant contributions he makes to the new edition, updating this section in the tactics to ensure that all traders understand this method of stop placement. His example is clear, and the reader can instantly implement this technique, which Bassetti thinks of as one of the most valuable in the book.
Some question whether classical chart reading is still a valid discipline in an era defined by cheap data, powerful scanning and backtesting software, instantaneous execution and quantitative analysis. After reading this book, you'll be left with a deeper appreciation of the value of chart reading and will become an even stronger proponent of technical analysis in modern markets.
Get T/A info from the source!.......2007-04-13
I believe this is one of the original books to have been published on stock market technical analysis. Magee and Edwards do an excellent job explaining Dow Theory and stock chart analysis. I bought the 5th edition because it was the last edition that was actually edited by the original authors. This book is the source of most modern technical analysis theory. It covers reversal patterns, gaps, support and resistance, consolidation patterns, trendlines and channels (by Edwards); and then goes into stock selection, stop orders, how to build a chart, and the practical application of those patterns and how to use them in your trading (by Magee). I read the book from cover to cover and refer back to it all the time in my technical analysis. It's an excellent resource!
Technical Analysis of Stock Trends.......2007-03-27
Informative and a very good resource tool when I need it. Easy to read narration which is a feature when the content can be a little dull at times.
Excellent Dow Theory Explanation.......2007-03-25
Robert Edwards description and analysis of the Dow Theory is, as Professor Bassetti so astutely states on page 48, a "magisterial presentation". I am proud to have been asked to add my interpretation to the update since Dr. Edwards death. Believe it or not, the Dow Theory is alive and well in the 21st Century and this book will help you understand why.
Jack Schannep
Customer Reviews:
Great book, just takes a lot of time to read!.......2007-07-18
Great book. I got it thinking it'd relate mostly to candle charts. But it covers everything. The book is pretty confusing at first and takes awhile to get used to the author's writing style. He uses words that college business students should understand. It'll take you forever to read, if you want to learn what it has to offer, but it's well worth it. Just google the topics after reviewing to get a full understanding of what Pring offers. Well worth the $10 used price (got lucky!.
a must read for those who try to understand technical analysis.......2007-05-07
I have nothing to say more than what I said in the title , this book is essential for learning technical analysis , no wonder why it's included in most of the reading lists of the technical analysis certificates .
Major Layout Problems!.......2007-03-13
While the book is generally well organized and presents materials helpful to the beginning technical trader in simple terms with examples, visual organization of the book leaves the reader page flipping and frustrated. Rarely are the graphics or charts which are referred to in the text on the same or nearby page. I constantly find myself having to turn pages and search out which chart is being referenced, a very detracting exercise when trying to study technical analysis!
Good book.......2007-03-08
Goes through all the basics of trendlines etc, I really enjoy Pring's writing style and analogy's. This book alone won't turn you into a profitable trader, but will give you the core you need to seek out a good system and understand it.
Good reference; poorly edited.......2005-04-05
Though the book is detailed and fairly comprehensive, the poor editing mars the quality of the book. Even the acknowledgement page contains 4 typos. That is a certain embarrassment. It is difficult to overcome the initial impression of sloppy editing and the book seems to have been rushed to meet some deadlines.
If you can get past the editorial issues, the book is a good collection of almost any interesting technical indicator that is available. While this book cannot be a substitute for the classic book by Murphy on technical investing, it is still a good resource for any investor. Of specific interest to the reader who is already aware of the technical investing (and a Murphy fan), the sections on "psychological strategies" is an interesting read. Other than that the book presents information from a huge variety of sources that has anything to do with indicators and oscillators. If you want to invest in only 1 book on technical investing, the book by Murphy is a better bet, with its better organization, editing and use of examples. This book, however, is a welcome addition, and not necessarily a must-have.
Book Description
Martin Pring's Introduction to Technical Anaylsis: A CD-ROM Seminar and Workbook, produced by leading technical analyst and author Martin Pring, explains and demonstrates tools used by the world's foremost technical analysts to evaluate emerging trends. This technically state-of-the-art package then goes further, to provide specific steps you can take to turn these analyses into profit-producing trades. Using the effective CD-ROM/workbook format, you'll learn how to: Research and construct instantly valuable charts of stock and market activity; Interpret the basic concepts of momentum, and apply the theory to actual trades through a common sense set of trading strategies; Use price and volume pattern to identify breakouts; Analyze and act on peaks and troughs that can signal a change in the prevailing trend; Calculate moving averages and gauge their impact. Pricing also includes savvy advice on when to buy, when to take profits, and how to identify and handle false breakouts. More than three hours of CD tutorial, including video, animated diagrams, realistic movies, and audio clips let you develop and hone your technical analysis skills, with an interactive quiz at the end of each chapter.
Customer Reviews:
Excellent beginners book.......2007-08-28
As a newby and complete beginner in TA, I found this to be a near perfect book for getting your feet wet. The style is simple and straight forward with large print and easy to read charts. While there are a few typos, I did not find the excessive amount stated in the reviews of his second edition. I found the CD to be as valuable as the book. It's one thing to read a book, but actually knowing the material is what counts if you are going to apply it to trading. The CD is in multiple choice quiz format. After choosing your answer, Pring tells you in audio, not text, if you got it right or wrong and why. This way you can see if you actually understand the principals before you start risking money. Think back to your college days- how much did you learn from classes you only audited compared with those that had exams!! I dont own Murphy's book, but apparently it lacks this feature. While there is plenty of free info on the internet now, I would rather know I'm getting it from a known expert in the field. Prings book is compact and concise and can easily be read in 8-12 hours, depending on your style. While I plan to buy Murphy's book as a more comprehensive reference (over 500 pages is alot of reading), another must-have book I found is Elder's "Trading for a Living" (a psychiatrist and trader), with its psychology of crowd theory, very true of the market and an excellent supplement to anyone's collection.
Useful information........2007-01-26
I am just getting started into the world of technical analysis and trading stocks. This book is really helping me to understand some of the things I have been observing in the market. The best thing about the CD is the quizes. The reader's voice can put you to sleep - especially if you read the chapters first - he covers the exact same text.
Not for the beginner.......2006-07-02
The book does not have a glossary in the back of the book so we can look up words that the author failed to tell us the meaning. I emailed the author and asked him what certain trading terms meant in his book and I received an email back from somebody named "Lisa" that told me to look it up in the dictionary if you can't find the answer in the book. I think this person "lisa" was very unprofessional in the way she handled this email and her customer service skills need improving. There are better books than this one. This man is from another country other than America and he uses weird words to describe his examples. It's hard to understand.
Good Introduction for the beginner or as a refresher........2005-12-29
Pring does an excellent job of providing the beginner with all of the basics of technical analysis (TA). I have traded stocks for over 15 years and have been trading the spot Forex market. I learned quite a bit about TA several years ago, but thought I would like to continue my education in this area. My only problem with this particular book/CD is that the CD presentation could/should have been more polished. However, the information is all there if you take the time to look, listen, AND USE it!
View from the beginning trader.......2005-11-29
As a beginning trader I have no previous experience with which to determine the value of this book. But I'm glad that I purchased it. First off it is easy to understand and through some repetition it actually drives home the basic ideas. The CD-ROM could be a little more interactive, but having the quizzes included helps the process of self-learning. I'm sure the material can be found online, but to have it all in one book is wonderful. The basic concepts are probably academic to more sophisticated traders, but are easily applied (eg. I predicted the Intel pull-back in Aug 05 and correctly sold out my position). Whether you aspire to be a technician or a fundamentalist (Or if you're like me, you don't care) this book is a great place to start.
Book Description
The option day trading blueprint you've been waiting for!
Options day trading is no walk in the park. But it is your most potentially profitable way to take advantage of the day-trading phenomenon. Put the odds in your favor with Demark on Day DeMark and Thomas DeMark, Jr. Forget complicated formulas! Instead, this nuts-and-bolts guide gives you a set of option trading techniques, indicators, and rules to limit risk without sacrificing profit. You're shown how to:
*Select, design, and build your own highly-personalized trading model
*Use filters and screens to select optimal option trading candidates
*Identify low-risk entry points in up, down, or even sideway markets
You get savvy tips for buying puts or calls based on market, industry, or underlying security ù even get a phone number to get a free, updated TD Indicators demonstration disk. For three decades, traders using breakthroughs like the DeMark Indicators have made fortunes. Now it's your turn!
Download Description
Electronic day trading of Internet stocks may be making the headlines ... but the entire field of day trading has exploded! DeMark on Day Trading Options is the first book to combine two of today's hottest trading phenomena -- day trading and options trading -- into one exciting blueprint for making money in volatile markets.
After first reviewing the basics of options. Tom DeMark -- renowned as a pioneer in technical analysis -- breaks new ground by introducing methods and techniques specifically designed for day trading options. He provides insights on selecting the best options to trade for specific markets. details how traders can accurately predict market movements and introduces the ingenious option trading variable he developed.
Customer Reviews:
This book is great.......2006-08-02
The previous reviewer cites the perception of the author's inflated ego. I too was distracted by the author's tendency to refer to "TD" indicator this and that and this disturbed me. However, i had the good fortune to meet the author at a Bloomberg seminar and the author explained why he chose to preface his indicators with the 'td'. The justification he gave was that his attorney wanted him to trademark and control the indicators and that was the effective way for him to accomplish that goal. I accept that reason and more than that I can overlook the petty complaint that it is distracting by concentrating upon the value I find in the indicators. I say call them whatever the author wants to since bottom line they are the best I have seen in my 35+ years in the industry.
Ummmmmm..........2006-07-25
You may want to think twice about this one. Not to be negative, but it is very hard to follow. Clear and concise dialog is absent in favor of unnecessary "branding" if you will of common techniques mixed with completely unverified and difficult to back test methods for trading the markets. This is trading celebrity gone wrong. I would love to know the remaining balance of an investment account traded with these "TDious" indicators. You can at least save yourself from this trade.
Prescription for successful trading from a true genius.......2006-06-16
My trading partner introduced me to the author's work. He told me that the author had worked closely with Paul Tudor Jones, Leon Cooperman, Steve Cohen and other industry titans. To be associated with these guys, he had to have something of value. After reading his books, my conclusion is that he truly possesses a creativity and market awareness that is unmatched in the industry. Although the ideas he presents can be profitably applied, I am certain that he does not share everything he knows with the reader. Regardless something is better than nothing.
The author is a market genius!.......2006-01-02
Prior to xmas and on my birthday I received a copy of DeMark's 'New Science of Technical Analysis'. I have been a professional trader for over 20 years and currently head up the trading operation at one of the major Wall Street firms. I thought I knew how market operateed and I shared my expereince on TV, radio, and in newspapers for years. Upon reading this book and as well ass the other two in the DeMark set, I have gained a profound new awareness how markets truly behave. The author is beyoind peer in defining and describing the intricacies of price behavior. What an enlightening series of reads.
Actually, 4 1/2 stars but truly a ground-breaking book.......2005-02-16
I enjoyed this book immensely and since I have been trading for over 30 years and never read anything approaching the uniqueness of this book. I also read with much interest the author's other two bboks. However, the reason I would prefer not to assign a full 5 stars is because I truly believe the author knows much more than the general (and sometimes specific) ideas he posits in the books. I realize that the author has no obligation to share more than the very helpful ideas we find within the pages of the book but it would have been much, much more useful to include more information. I assume that for the small amount of money invested in the books, he did not want to provide more information. Also perhaps the size of the book would be volumes. Nevertheless the new, original ideas included in the book are compelling and very helpful.
Customer Reviews:
Impressionable, but..........2007-08-25
If you are looking for clear cut set of rules/strategy that you, the individual investor, can follow to make money, then look elsewhere. The trend followers solely follow the movement of the price in exclusion to everything else. They identify a trend - uptrend or downtrend - and play upon it. As noted in the book, they react to and not predict the prices.
The methods, far and few, explained in the book are definitely not suitable for me - the retail investor. First of all, I don't have access to a trading system that can follow the rules outlined. Second, I am not a trader in the strict sense myself, where trades are triggered by a system without me realizing what is happening. To perfect such a system would take me ages given that investing isn't my main bread winner. This book will pass off as a great text book in the annals of the Ivy League schools, but when it comes to making money for you, the individual investor again, I think you are better off reading the likes of Jesse Livermore, Nicolas Darwas and William O' Neal. Read the Lessons from the Greatest Stock Traders of All Time' by John Boik or any of William O'Neals books. They define clear cut rules that we can all follow and make money. How else would I have made about 80K in the past three years compared to the first 8 years of my investing where I barely made any.
There are a lot of anecdotes in the book - literally, every page has 2-3 of these. All of these may impress, but in the end they are nice to feel scholarly about. If you are a beginning investor, the first chapter -Trend following, all of 22 pages - lays the foundation by explaining the different schools of thought regarding investing. Then there is 55 pages outlining the great trend followers are their performance but never in clear and precise terms or rules what their methods are. It almost feels sycophantic reading about other 'great' beings the way it is written. At last, after reading almost 210 pages, I got to see some system of trading. All these are pretty dry.
This is possibly the only one exception to the many great investing books in my library that I could have borrowed from the library. You will be better off reading 'How to make money in stocks..' by William O' Neal again and again and again.
Not bad, but not very useful.......2007-06-03
I own this book, I even recommend this book. But let me explain the 2 star rating....
While the book is a good history lesson, and shows how some of these guys make a lot of money, it's just not practical advice for the rest of us. I highly doubt that many of us have a billion dollar hedge fund to run.
Also, there are no real strategies in this book.
However, it did get me thinking in a different way. So for that, it is worth the money. (The main thing was to allow for larger swings against your position, allow the market a little more room than I did before.)
I know that this guy sells other products on his website, but to be honest, I don't see them being worth it. Most of this book is about defending trend traders, which is fine, but I wasn't attacking them in the first place.
I have begun to use the 4 hour chart more with his thinking, and I have to say it makes a little more sense. Not to get caught up in "micro-movements" as I call them. But to allow massive 300 pips swings against you on a weekly chart isn't practical for most of us.
So in conclusion, I think it's a good read, but if you get what I got out of it from my review, then it may or may not be worth the money.
It describes trend followers but does not give any sysytems.......2007-06-01
If you want to read about trend followers you can get this book. But if you want books with trend following systems do not waste your money.
Listen to the author's podcasts before you dismiss him based on negative reviews........2007-05-25
I discovered Michael Covel in a web search for "trading podcasts" and find his audio diatribes refreshing, inspiring, offering a real perspective on trading discipline.
A link to the podcast directory is at the turtletrader dot com web site, they are just a few minutes in length and worth your time.
At least listen to the one titled "Understand your emotions", it is worth your time and an important reminder to anyone running any amount of money.
Sometimes the author uses his audio forum to respond to negative reviews of his book, if you are listening for the first time, skip the rebuttal and sample another of his podcasts.
Trend Following: How Great Traders Make Millions in Up or Down Markets, New Expanded Edition, (Paperback).......2007-05-12
Disappointing. Long on theory and very short on practical advice. Not of much use to an individual investor. I would not recommend this book to someone looking for a "how to" book.
Book Description
Arms traders and sophisticated individual investors with the tools they need to play the markets successfully
Many traders believe that they must perform at least one trade every day, no matter what. However, as expert Price Headley clearly demonstrates in this groundbreaking book, not only is that assumption false, it can also be dangerous. He shows why focusing too narrowly on the daily ebb and flow of the markets minimizes a trader's chances for the big returns. He explains why maximum results are achieved by identifying the big market trends and riding them for all their worth. Headley explores the major market indicators-including the popular CBOE Volatility Index, Nasdaq 100, Rydex Mutual Fund Flows, and Equity Put/Call Ratio-and shows readers how to use them to identify the stocks that are about to take off. Emphasizing the aggressive use of options, he also empowers investors with stock selection techniques and options strategies that work in virtually every type of market.
Customer Reviews:
Good book but.......2007-06-27
The book contents is OK but it is not a thorough analysis of the option strategies and techniques.
It's ok........2007-06-27
Some of the nuggets are more like pebbles. The book seems more like an infomercial to sign up for his picks through his website/stock picking services. If you're looking for real tips to reading the market, I'd say check out some of J. Cramer's books. Cramer isn't perfect, but who is? At least Cramer tells it like he sees it. If Eliot Spitzer likes Cramer, then he can't be that bad!
Worth the cost - Psychology and Money Management are the keys to trading well.......2006-11-15
I haven't had any experience personally with the Bigtrends advisory services, but I can say that this book was worth my time to read. It's a bit heavy for me at first on all the systems used, but I found the final chapter on the psychology and money management alone to be well worth the cost of the book. That's where I always seem to lose my money in the market, by getting too high or too low (at the wrong times, of course!). It appears that his systems are designed to profit from these emotional fear and greed panics of the rest of the crowd.
Clearly this is not a book for beginners, but since I had already gotten my feet wet in trading over the last couple of years, I definitely have some ideas I look forward to applying from this book. The Acceleration Bands indicator (appears different than Bollinger bands) looks very promising to me, and I may also now try my hand at options (on a small scale at first)!
Horrible experience with Big Trends advisory service.......2005-08-15
After reading this book you might go check out their website and you'll see that they offer a few advisory services. Don't be fooled by the track records they email you, I lost thousands of dollars being SUCKERED into a non-refundable yearly membership fee to one of their services only to lose a lot more following their advisory emails. I quit following their stock pick recommendations about 3 months into the service with 9 more months left and watched their picks for almost a year. THEY DID SO HORRIBLE, I WOULD LITERALY DO BETTER PICKING STOCKS OUT OF A HAT, not to mention the horrible customer service. They did not respond my emails when I had questions or concerns about what is going on with these recommendations.
Very Bad Customer Service from BigTrends.......2004-12-31
i bot the book and later subscribed to its Bigtrends newsltter service and i had the worst experience ever in my whole trading career. I wrote to them several times for problems i had in its service and i received no replies. They charged me upfront for thousands of dollars and no refund despite cancellations after two weeks.
This is one newsletter that i would not recommend...trust me ! there is no customer service at all !!
Book Description
Dr. James Canton, a renown futurist, CEO of the Institute for Global Futures, and Fortune 1000 advisor, charts a course to steer you through the volatile changes that lie 5, 10, and 20 years ahead. The Extreme Future is this generation's Future Shock, Alvin Toffler's classic book on what's next and how to prepare for tomorrow.
Get ready for fast, radical, and complex change. Get ready for the Extreme Future. Our world is constantly buffeted by new and dramatic changes that we can't fully grasp. No one is fully prepared for the challenges, crises, and risks that lie ahead. The Extreme Future is a blueprint for what's next and how to navigate these changes.
Get ready for fast, radical and complex change. Get ready for the Extreme Future. Our world is constantly buffeted by new and dramatic changes that we can't fully grasp. No one is fully prepared for the challenges, crises and risks that lie ahead. The Extreme Future is a blueprint for what's next and how to navigate these changes.
An advisor to three White House's spanning more than 30 years, Dr. Canton challenges us that with the right information about future trends it is possible to identify probable outcomes. It is possible, with the right information to navigate the Extreme Future.
The book covers the following major trends:
* How climate change and energy trends will reshape the planet
* How shifting population trends will transform the workforce
* How radical innovation trends will competitively drive business
* How astounding medicine trends will enhance people's life
* How dangerous terrorism trends will threaten the individual.
* How the rise of China will bring on a new global power struggle
The answers to these questions are not only available, but contained within these pages. The Extreme Future is the forecasting handbook for the twenty-first century.
Customer Reviews:
Prediction for the Future: This Book Flops.......2007-05-29
I was very disappointed with this book. Between his shameless plugs for his speaking engagements and various other activities, the author pulls together various thoughts, statistics, and projections that could easily be synthesized by reading a few choice periodicals. If you are a reader in search of innovative thoughts about the future that may help guide your worldview, company, or investments, I would advise you to look elsewhere. I will not read another work by this author.
It will be fun to see how true this turns out to be.......2006-11-29
As I read this book I am reminded of the old saying that 'forecasting the future is easy, it's being right that's hard.'
Dr. Canton breaks down his forecasts into ten areas. Some of them I find very good. Some of them I find OK. Some of them I disagree with. Some of them I'd replace with others.
His view of the future of the individual, Chapter 10, I find totally agreeable. He says that protecting the freedom and rights of the individual is going to be difficult. I absolutely agree. There will be a great deal of pressure to restrict rights (the so called Patriot's Act) in the name of security. The Democrats would like to impose gun control. The Republicans would like to impose abortion control.
His view on energy I find half right. He is right that we are running out of energy. Oil will get progressively more expensive. Then he says, 'Hydrogen is the most plentiful gas in the universe...It's abundant, reliable, renewable, clean and secure because hydrogen is everywhere, America wouldn't have to rely on foreign suppliers.' Yes, but hydrogen isn't a fuel, it's a way to store energy. You have to put more energy into separating hydrogen from oxygen (where it's mostly found, i.e. water) than you get back when you burn it. Nuclear power is the only forseeable place to get the energy to put into hydrogen, and we still have problems of where to store the old fuel rods, do you want them in your back yard?
He sees medicine making all kinds of advances that will lead to longer and healthier lives. I'm not so sure. AIDS is likely to move up to #3 in killing people in the next few years, and there's no cure in sight. Drug resistent forms of TB, malaria, etc. are spreading. New potential diseases like avian flu. If you're interested I'd recommend 'The Coming Plague: Newly Emerging Diseases in a World Out of Balance' by Laurie Garrett. It's a bit old, but still the best on the subject.
This is a fun book to read. It will be even more fun to see how correct it turns out to be.
Highly speculative.......2006-11-09
The author makes many speculative and outlandish predictions of the future. His sheer number of intuitive predictions will allow him to be right on many matters, but very off on some.
What is lacking are analysis and technical details of why the future is the way the author claims will be. For example, he claims lack of energy supply and technological progress will bring forth an age of hydrogen powered cars and fusion nuclear reactors. Yet, he provides no technical reasons why these two technologies will dominate the energy industry. Just how will we manage to produce hydrogen in large concentration and quantities which will be cost effective when it takes MORE energy to produce concenttrated hydrogen today than the energy value of the hydrogen themselves? Also, since when was controlled nuclear fusion reactors even possible? An explaination of how we will overcome the technical hurdles is missing throughout this book.
Some of the claims are downright outlandish. For example, the author claims we will have teleporter which will transfer objects throughout the globe. Again, the missing piece is of any scientific backing or explaination.
Some of the predictions are based on facts, and therefore, have strong predictive value. For example, the author claims that we will have a skilled worker shortage well into 2025 and beyond. This is based on a solid demographic data which indicates that we will have a shrinking workforce of suitable age in America.
Finally, the author is a PhD, but he never says on what subject. He also seems to compare himself to Da Vinci.....He claims many of his previous predictions were right on target. But I imagine many of his predictions were dead off target as well. The sheer number of predictions in this book will allow the author to claim that he is a futurist because many of his predictions will probably come true. Just don't expect him to backup his claims with solid science, facts, or analysis.
Fantastic Feast of Ideas.......2006-09-22
The Extreme Future is a fantastic feast of ideas. So many books about the future are predictable or simply boring. This book is a whole other experience. Canton's mind is a non-stop treasure trove of complex insights, wild ideas, brain-stretching posssibilities and just plain fun. I wholeheartedly recommend The Extreme Future to anyone who would like to step outside the box and look at everything - from global politics to mind control to enhanced humans - in some pretty incredible ways.
Book Description
Written by the leading figures in the field, this book clearly defines and describes the rapidly converging fields of instructional design, instructional technology, and performance technology.
The book discusses the trends and issues that have affected the field in the past and present, and those trends and issues likely to affect it in the future. It includes writings from Walter Dick, Marcy Driscoll, Don Ely, Kent Gustafson, David Hawkridge, Mike Hannafin, John Keller, David Jonassen, David Merrill, Charlie Reigeluth, Rita Richey, Allison Rossett, Bob Reiser, and Jack Dempsey.
Books:
- The Six Sigma Handbook: The Complete Guide for Greenbelts, Blackbelts, and Managers at All Levels, Revised and Expanded Edition
- The Strategy and Tactics of Pricing: A Guide to Growing More Profitably (4th Edition) (Pie)
- The Way Back to Mayberry: Lessons from a Simpler Time
- The Wisdom of Wallace D. Wattles - Including: The Science of Getting Rich, The Science of Being Great & The Science of Being Well
- The World Is Flat [Updated and Expanded]: A Brief History of the Twenty-first Century
- Timing the Trade: How Price and Volume Move Markets! [ILLUSTRATED]
- Trading for Dummies
- Trading for Dummies
- Trump University Marketing 101: How to Use the Most Powerful Ideas in Marketing to Get More Customers
- Unlimited Wealth: The Theory and Practice of Economic Alchemy
Books Index
Books Home
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- Behind the Wheel Chinese
- The Have Gun: Will Travel Companion
- What a Way to Live and Make a Living: The Lyman P. Wood Story
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General
| Popular Economics
| Business & Investing
| Subjects
| Books
Ahead of the Curve: A Commonsense Guide to Forecasting Business and Market Cycles
The Trader's Guide to Key Economic Indicators
Guide to Economic Indicators: Making Sense of Economics - Sixth Edition
Unexpected Returns: Understanding Secular Stock Market Cycles
Inside the House of Money: Top Hedge Fund Traders on Profiting in the Global Markets
