Book Description
Over 30,000 online investors daily flock to pristine.com, the top-rated Website run by day trading legends Oliver Velez and Greg Capra, for up-to-the-minute strategies and market commentaries. In Tools and Tactics for the Master Day Trader, Velez and Capra revisit and completely update over 100 of their daily commentaries from the past four years, with new material explaining what worked, what didn't, and why.
This no-nonsense, easy read, meant to be referenced by traders every trading day, covers everything from potent trading strategies to intuitive insights on psychology and discipline. Proving once again that the best teacher is experience, Tools and Tactics for the Master Day Trader will help any trader log on with the technical skills, market knowledge, and confidence they need to capture more winning trades, and reap new profits.
Customer Reviews:
THE best book on trading I have ever read........2007-09-09
I had to get this book after reading such a mix of reviews. I was really curious how it would turn out since reviewers were either raving about it or trashing it.
After reading the 1st half of this book I was shocked to say the least. The first half of this book is worth more than all of the books I have read on trading combined. If someone trashes this book then they are either very new to trading and don't understand the points being made in this book(which I can understand because you have to get some experience under your belt to really appreciate what is being said in this book) or they are looking for a quick strategy they can read in 5 minutes and start making money. For one thing, that's never going to happen anyway.
The trading strategies in this book are very basic, so for newbies that part of the book has some good info. I was hoping for a little more advanced analysis of trading techniques, but I really didn't need that anyway. The knowledge and wisdom in the first half of this book is going to take my trading to moon.
For the newbies who didn't like this book, get a couple years experience under your belts then go back to this book and re-read the 1st half. I guarantee you, you will want to come back here and write a positive review.
Interesting book with lack in details by very self-confident authors.......2007-06-09
When I started reading the book by Oliver Velez and Greg Capra: "Tools and Tactics for the Master Day Trader", I thought it was one of the better books on day trading. It starts out with the importance of discipline, and the lessons to be learnt from losses. It also outlines the concept that you don't buy from the market, but there is always another person on the other side of the trade that has exactly the opposite market expectation as you.
Then come four chapters with lists of rules: 7 deadly sins, 12 trading laws of success, 15 things every trader should know, and 10 lessons for the master trader. Altogether 44 rules, which don't seem to be in any systematic order. It looks like the authors were brainstorming to come up with as many rules as they could think of, and then divided them up among the four chapters. Some rules contradict one another, some important rules are next to irrelevant ones etc. Also the "Seed of Wisdom" does not help to sum up the rules because it often is not related to the part that it is supposed to summarize.
In Chapter 10 and 11 the authors talk about tools and start out by explaining things as basic as a candle stick or support and resistance. Then they dedicate two chapters to Order Systems and Level II data, and it takes until page 293 when they finally talk about trading techniques.
After having talked redundantly about general things for three quarters of the book, the authors give their ideas of entry, stop and exit techniques. What I missed most in this part is the lack of exact trading rules. Everything is expressed vaguely (e.g. p.219 "you can also opt to keep the break-even stop. This is a matter of choice." or p.322 "Sell at least half your stock if and when the stock breaks below the 5-minute low. ... These are just guidelines. We don't want to be stupid. ... Many traders will be best served selling the whole lot at this point."). This is exactly the vagueness you can't afford as a day trader. I was also disappointed that there was so little variety in the trade setups (just three entry techniques).
So my hope was high that in chapter 17 "How to put it all together" there would finally be concrete entry and exit descriptions. Instead, the authors just describe common chart formations like any other book on technical analysis (and do a worse job, too).
Throughout the book I noted an arrogant tone (p. 317: "Let's assume a master trader, let's call him Mr. Velez."). The authors speak about master traders, as if they were some kind of rock stars. No matter, how successful you are, if you quit being humble, the market can easily take everything away from you.
I am giving the book three stars because it does cover important topics for day traders like discipline, and learning from your mistakes. If you want to read a more effective book, however, I recommend the one by John F. Carter "Mastering the Trade".
Seeds of Wisdom!.......2007-05-18
Tools and Tactics for the Master DayTrader: Battle-Tested Techniques for Day, Swing, and Position Traders.
Velez and Capra give me the impression they have traded before and are not just book writer's. You can learn a few pointer's from this book whether you are a rookie or have been trading a while. It covers Candlesticks,Moving Averages, Fibs, Volume and drawing a few trendlines on the charts intraday and daily charts.
It does not go into some of the mathematical stock indicators that some trader's think it might be the "Holy Grail". Sorry, there is no Holy Grail in the stock market you better look elsewhere like yourself. The only "Holy Grail" you will ever find trading stocks is yourself there is no quick fixes to learn to trade stocks it all takes lots of time and practice.
Its to look and observe what a chart's footprints tell you with some seeds of wisdom.
I see so many negative reviews here about this books. I am starting to wonder whether those reader's have ever traded stocks.
I have traded full-time for years and I can tell you they must be all novice trader's hoping that a book might have all the answer's for them and their future. It would help them if they read this book a few times until it sinks in their minds.
Nothing new.......2007-04-18
nothing new, nothing exciting. Everything can be found in books that are half the price. Save your money.
FIVE STARS!!!.......2007-02-27
I would definitely give this book five stars. I really learned alot from it. If you gave it a bad review you either need to go back and read the book again or just skimmed through the book.
and to the person who sid that he "Heard" that they don't actually trade they are wrong and I thought everyone knew not always to believe what they hear. But hey, some people just believe things more easily than others.
and you can't even RATE this book one star because YOU HAVEN'T ACTUALLY READ IT!!!
You skimmed through the book and rate it one star??? WOW. that's all I have to say: wow. I'm not even going to say anything else. and people don't listen to all of those bad revievs out there. It really was a great book and is worth the money. (and so is his newer book)
and to the person who said: "This book TOTALLY rocked. I read it alot because it was so awesome"
YOU TOTTALY ROCK TOO! LOL!
Book Description
It is essential to have a thorough understanding of economic information and to be able to grasp fully the real implications of the economic indicators referred to in business reports and by the media. This guide is, above all, a practical work that clearly explains the underlying economic realities of today's world. Fully updated and revised, this sixth edition is an invaluable reference for those in business, the financial markets, or government, and a necessary resource for students. Written for the nonspecialist, this accessible guide explains how to understand and interpret all that main economic indicators that relate to: GDP and GNI (GNP); Growth, trends and cycles; Population, employment, unemployment; Government; Investment and savings; Industry and commerce; Balance of payments; Exchange rates; and Money and financial markets.
Customer Reviews:
Nice handy guide .......2006-03-03
I wish I would have had it during Macroeconomics class for a reference.
A reference guide.......2006-03-01
I expected a guide that would assist in determining where we were in the business cycle. This wasn't really it. The book is structured more like an encyclopedia - analyzing each indicator in detail and in isolation. A fine addition to anyone's economic reference books, but disappointed me by failing to treat the economy as an organic whole.
If only economics were that easy.......2004-02-09
True to the style of The Economist, this book makes everything seem easier than it really is. However, for people who spend too much time thinking about economic issues, this is actually rather refreshing, much like a cold beer after a long day's work.
Some examples: "In the long term, the growth in economic output depends on the number of people working and output per worker (productivity)" (Page 41); Or "In general, the more optimistic consumers are, the more likely they are to spend money. This boosts consumer spending and economic output" (Page 93)...
...One begins to yearn for the days where economics was more of an explanatory and less a mathematical science.
The guide is divided into a number of chapters discussing issues and examples related to
- How economic activity is calculated, and what the main indicators GDP/GNP/NNI capture and do not capture, as well as what changes in these indicators or their components mean.
- Employment indicators such as employment by sector or the unemployment rate
- Balance of payments and fiscal indicators, such as tax revenue or budget deficit
- Consumer indicators, such as disposable income or consumer confidence and their significance
- Investment and savings indicators, such as investment intentions or sales/inventory ratios
- Business indicators, including business conditions, auto sales, construction orders and other common stats
- Exchange rates and financial market indicators, such as interest rates and money supply.
- Prices and wages, like the effect of oil price changes, among others
Coverage of the most common and widely available indicators is fairly comprehensive. Given the simplicity of the book, it is better to have a certain level of economic knowledge and opinion to be able to put the content in context. Not much different to reading The Economist, really.
A good reference guide for understanding economic indicators.......2000-09-20
The book itself will be of great use for those analysts who evaluate country risk analysis. Economic indicators sometimes tend to be hard to understand, but this guide makes them easy to comprehend and relate to each other.
A good purchase.......2000-06-11
As the title says, this book can help you make sense of economic indicators. The more you know, the easier it is for you to understand the economical aspects of society, and this seemed to add a lot more to my knowledge, and it clarified other thoughts.
Average customer rating:
- It is a very good reference
- Tools Tools Tools
- Geared to the work environment
- Great Tool for Myers-Briggs
- A must for employers
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Similar Items:
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The 16 Personality Types, Descriptions for Self-Discovery
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What Type Am I?: The Myers-Brigg Type Indication Made Easy
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Type Talk at Work (Revised): How the 16 Personality Types Determine Your Success on the Job
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Please Understand Me II: Temperament, Character, Intelligence
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Gifts Differing: Understanding Personality Type
ASIN: 0971214417 |
Book Description
The Quick Guide to the 16 Personality Types in Organizations is written by leading experts in the theory of personality type and its applications. This booklet helps you develop your personal effectiveness within the workplace by providing two full pages of information about each of the sixteen personality types under the topics of Problem Solving, Leadership, Creativity, Teams, Stress, Learning, Career Mastery, and Personal Development. Also included is an appendix that will help you understand the eight MTR-i team roles.
The first page of each description includes information on understanding the specific personality type to help you shift perspectives to improve your relationships with others. The second page includes information on being that personality type to help you further your understanding of yourself. This format makes this booklet essential for employees in any organization who want to understand themselves better and work with others more effectively.
Customer Reviews:
It is a very good reference.......2007-03-21
This is a small book that goes to the point, It have a section for each type of personality that have a small description of it, the way that they solve problems, their style of leadership, their creative expression, how do they work on teams, how the have to deal with stress, how they learn, and tips for personal growth. Also in the later chapters, this book have two pages that describes the team roles that each personality prefers.
Tools Tools Tools.......2007-03-13
This is terrific if you have any desire to learn the personality types around you.
Take a break from guessing... give yourself a tool.
Geared to the work environment.......2007-02-13
Not a big book, but large on the value that it brings to the workplace. Highly recommended and well worth its cost.
Great Tool for Myers-Briggs.......2007-01-06
I am a certified instructor for Myers-Briggs and have read many of these books about type. This one has it all! It's easy to use as a reference and practical. I reccommend it to anyone who uses Myers-Briggs at work.
A must for employers.......2006-07-09
If your an employer looking to improve your hiring decisions this book, along with the related test as "keirsey.com", is for you. The Quick Guide along with the Keirsey online test will provide quick and accurate insights about potential hires. Now even small businesses can have the type of beneficial info once available only to larger businesses. The book will also help you to have a better understanding of yourself and those around you.
Book Description
How to Measure Training Results presents practical tools for collecting and measuring six types of data critical to an overall evaluatin of training. This timely resource:
- Includes dozens of reproducible tools and processes for training evaluation
- Shows how to measure both financial and intangible/non-financial results
Download Description
How to Measure Training Results is a handbook for trainers and HR managers who want to save their jobs or advance their careers by showing how the training they provide directly benefits their organization's bottom line or strategic goals.
Customer Reviews:
Leslie.......2006-03-21
I have read many articles and books on this topic. While most books cover the evauluation levels defined by Kirkpatrick, this book goes one step further by providing lots of practical examples on how to actually evaluate training at each level. Every page contains at least one useful tip!
How to measure training results.......2005-08-02
very practical information. Gave very easy steps to follow and easy to implement. Reinforced that training can be measured.
e-book beware.......2002-12-13
I ordered this book with the Adobe Digital Download. After running the install file 3 times, it still wouldn't work. It kept saying "None of the requested vouchers could be obtained."
I called Adobe twice and they said they don't support the e-Book reader! I checked their user forums at (...)and there are three other people with the same problem. I can't believe Amazon(.com) and Adobe sell a product neither one supports!
How to get up and running when training assessment is wanted.......2002-08-01
Jack J. Phillips' has been writing several books on assessing the impact of training and his latest book, co-authored with Ron D. Stone, is among the best ones, it is indeed a very good introductory book on evaluating training.
The more experienced training practitioner, who may have been using Kirkpatricks 4 levels, will also get a lot out of the book. It adds tools to Kirkpatricks levels but it also completes the Kirkpatrick model by adding a fifth lev, a ROI analysis. However, not everything may be measured in $ so the authors also include some ideas on how to present intangible assets in the reports.
A lot of the concepts have been presented in previous books, but here they are taken a step further when the authors give examples from their long experience within the field. Downloadable forms, worksheets, and checklists (at the publishers website!!), that may be adapted to various needs is a definite valuable add-on for practitioners who do not have an urge "to do it all on their own".
The book starts off with taking a look at the need for measurement and evaluation and presents the ROI-process as a framework for 6 types of measures, (Kirkspatricks' 4, the ROI and intangible assets). Then all levels, possible measurements etc are presented throughout the book, finishing off with key implementation steps. It is all wrapped in the ROI-process, a step-by-step "receipe" for planning, building and implementing the evaluation process.
So when the top management want to know if a training program is worth the money . . .
Reading the book may get you on the track. It may help you talk the language of Money a way that senior management understands.
This is in addition to building better programs.
And it sure was practical with a digital version on my laptop, that way I bing it with me whereever I go; really conveniant when being a consultant - -
Money Talks . . ........2002-08-01
Jack J. Phillips' has been writing several books on assessing the impact of training and his latest book, co-authored with Ron D. Stone, is among the best ones, it is indeed a very good introductory book on evaluating training.
The more experienced training practitioner, who may have been using Kirkpatricks 4 levels, will also get a lot out of the book. It adds tools to Kirkpatricks levels but it also completes the Kirkpatrick model by adding a fifth lev, a ROI analysis. However, not everything may be measured in $ so the authors also include some ideas on how to present intangible assets in the reports.
A lot of the concepts have been presented in previous books, but here they are taken a step further when the authors give examples from their long experience within the field. Downloadable forms, worksheets, and checklists (at the publishers website!!), that may be adapted to various needs is a definite valuable add-on for practitioners who do not have an urge "to do it all on their own".
The book starts off with taking a look at the need for measurement and evaluation and presents the ROI-process as a framework for 6 types of measures, (Kirkspatricks' 4, the ROI and intangible assets). Then all levels, possible measurements etc are presented throughout the book, finishing off with key implementation steps. It is all wrapped in the ROI-process, a step-by-step "receipe" for planning, building and implementing the evaluation process.
So when the top management want to know if a training program is worth the money . . .
Reading the book may get you on the track. It may help you talk the language of Money a way that senior management understands.
This is in addition to building better programs.
amazon
It's quaint that in this day of search engines to help us find more search engines, some old-fashioned reference books are still perennial sellers. When The Irwin Guide to Using The Wall Street Journal premiered in 1984, the future day traders of the world weren't trading much more than Atari cartridges. So, the advent of this sixth edition--penned, as ever, by Michael B. Lehmann, a University of San Francisco economics professor who has developed a popular seminar class around it--receives a round of well-deserved kudos.
Even if, that is, its title remains a bit of a misnomer. For this is not, nor has ever it been, so much a guide to using the WSJas it is a tidy primer on the fundamental workings of the U.S. economy and stock markets, intended not just to help readers enjoy the WSJ more, but to help them more fully comprehend what they read there. Lehmann covers just about everything, like a rigorous-but-not-draconian year of Economics 101: from how and why interest rates affect markets and when to expect the next recession to the Federal Reserve's impact on your investment portfolio and which fixed-income market is right for you. The guided tour Lehmann gives is well organized and accessible to the average financial layperson who can handle sentences slightly longer than those in USA Today and doesn't think "Federal Reserve" refers to an early 19th-century architectural style. A certain amount of patience may be called for, too: though no opaque academic text, The Irwin Guide is far from one of those Dummies/Idiots books that somehow crams the greatest matters of civilization into what generally look like coloring books for adults. Lehmann's text is dense, relieved only occasionally by various charts or articles previously published in the WSJ. Curious is the near-total absence of terms you would have expected to see in an update from the 1996 edition--terms like "Internet," "dot-com," and "WWW." But after six editions you have to think that Lehmann's a sly one--maybe he speaks most eloquently of how the current dot-com/IPO mania will play in the long term by saying absolutely nothing. --Timothy Murphy
Book Description
The perennial bestseller to help readers get the most from The Wall Street Journal.
For over a decade, prominent businesspersons and individual investors alike have used Michael Lehmann's one-of-a-kind guide to unlock the secrets of The Wall Street Journal, and discover previously overlooked tips and strategies to make informed and profitable business and investment decisions. This overview to the largest-circulation daily in the U.S. contains charts, graphs, and articles taken directly from WSJ to help readers:
- Track their portfolios and make better investment decisions
- Compare the performance of their investments to others
- Understand every profitable angle of the mutual fund explosion
Customer Reviews:
Basic Information and not all in the WSJ.......2006-07-30
The book is a light introduction to economics. As such, it is interesting and it does lead you to some of the more obscure corners of the WSJ online (for which even print subscribers must pay a subscription fee, plus another for Barron's online).
A big problem, however, is that a majority of the interesting charts with historical data are drawn from sources other than the WSJ. In addition, these sources (such as the US Census Bureau) provide only the raw data, not the charts.
ON Target.......2005-11-26
The problem with too many people who have some extra money to invest is that they listen too much to too many who know too little. Everyone is always looking for the fast money. Often the investment money goes down the tubes with the bad advice promising quick reward.
Michael Lehmann has written a book that takes any investor through a thoughtful, fact filled series of lessons on how to use data to make well informed decisions. Listening to Uncle Bob pontificate about his "Big dollar investment tip" for the day should go right out the window. Lehmann's "Using the Wall Street Journal" should become the primer for anyone who is serious about investing with knowledge. A little reading of the right material pays off. Michael Lehmann's book IS the right material and has paid off for me over and over again.
The best economics book ever.......2005-11-19
I used this book in my Internet Data Sources class at the University of San Francisco in the Spring of 2005. The course was taught by the author of the book, Michael B Lehmann. He is the greatest professor ever and this book helped through the whole course, which was the most useful I took in college.
really useful.......2005-10-29
As someone who never set foot into an economics classroom, Michael Lehmann's book is a huge relief. His book clearly walks the reader through the process of how the economy actually works and demystifies economic indicators. This book gave me a seat at the table of my own financial management.
American Economic System Made Easier.......2005-10-22
Michael Lehmann proves that you don't have to get a college degree in Economics to be able to understand the American economic system. Using the multifold economic data regularly published by the Wall Street Journal as his his focus, Professor Lehmann goes about explaining the background and meaning of the data and how to interpret it for your own advantage. He covers subjects which would be includedin a variety of college courses and does so in a clear and understandable narative.
He provides a rich background and explanation on subjects such as the Business Cycle, Role of consumer demand, the role of the Federal Reserve System, Fiscal Policy, International Transactions, and the Leading Economic Indicators. He also provides information on how to keep up with the data using internet and computer access.
A must have for any person interested in understanding the American economy.
Book Description
A thorough trading guide from a professional trader
The Complete Guide to Technical Trading Tactics can help the new individual investor understand the mechanics of the markets. Filled with in-depth insights and practical advice, this book details what it takes to trade and shows readers how they can broaden their horizons by investing in the futures and options markets. The Complete Guide to Technical Trading Tactics outlines a variety of proven methodologies-pivot points, candlesticks, and other top indicators-so readers may use those that work best for them as well as make their own trading decisions without a second thought. Author John Person also shares his insights on a variety of trading technologies that will allow readers to gain a competitive edge in the market.
John L. Person (Palm Beach, FL) publishes The Bottom-Line Financial and Futures Newsletter, a weekly commodity publication that incorporates fundamental new developments as well as technical analysis using his trading system.
Customer Reviews:
Very Informative.......2006-08-01
I thoroughly enjoyed the book and appreciated John's candor and willingness to share methods to achieve profitablity in trading.
I would recommend this book to anyone looking to learn a methodology
of trading using candlestick formations and pivot points.
This was a dissapointing read..........2006-06-23
I agree with a couple of posts that say this is a very basic book, and that most of the information could be found for free on the internet. I would go as far as to say that some information would be better if read on the internet.
The examples about pivots (the key part of the book), one chart after another were not easy to follow. The section on TA was woefully lacking. The author has a section on Gann theory, and more or less advises to go buy the book that Gann wrote. As it turns out, there is some pretty rich information about Gann on the web.
My biggest pet peeve about this book were the continual subliminal references (advertisements) to the author's subscription based website. Besides that, I did not like the blatent plugging of the people who praised his book on the back cover. It's okay for an author to put their website on the back of the book. If the information stands on it's own then I can go to the website to learn more. What's not cool is to give vauge trading strategies, then give some glowing account of how your subscription newsletter called the shots.
I did give the book two stars, which means I wasn't totally dissapointed. He does stress a couple of good points regarding pivots, but it's all pretty basic beginner stuff.
An excellent Forex trading book.......2005-08-31
This book is very easy to read and follow a lot of concepts the author has mentioned. It provides a very good trading guidelines about how to make a trading decision based on the pivot point calculation and candlestick charting technique. If you know a little bit of candlestick charting, you would enjoy this book very much. In addition, it warns the traders to utilize other technical indicators as well. The more technical indicators support your conclusion, the better of placing a successful trade in the spot market. As you know every technique has some pitfalls. The author mentions that "Once in a while you will lose your shirt, but do not lose your pants because the money is in the wallet.". A very true statement. The trader always tries to survive for the next trading opportunity. I have started incorporating a lot of concepts in my trading decisions. I would encourage every trader to read this book. Learning is the ultimate way of surviving in this very volatile market.
A Great Book for Forex Trading.......2005-06-02
The technical tactics and techniques described in this book have already helped me to start making a profit in forex trading on a more consistent basis.
This book's explanation on how to place orders and the different types are the best I've read so far.
Pivot Points used in conjunction with Candlesticks is what I have been using to trade currencies and so far the results have been very satisfying. Thank you Mr Person for writing this most excellent book!
Excellent Study Course.......2005-03-16
John Person provides an excellent overview of necessary trading tools. I learned a great deal from his book and his seminars. The best part about his book is that he is a trader by profession and the information he provides he utilizes. This book is a must have for traders interested in increasing their consistency and profits from trading
Book Description
For professional and individual investors, executives or business students, a unique atlas of what makes the markets move.
Customer Reviews:
Solid Introduction to Economic Indicators, although dated.......2006-05-18
This book is an easy read and it is a great introduction to economic indicators. Unfortunately, it is out of date. It gives a description of what each indicator actually measures, who produces the indicator, and why it is important to the stock, bond, and currency markets.
It is a very quick read (less than a day) and can be used to refresh one's memory on the basic econ indicators.
It also includes an in-depth discussion of how the Fed actually regulates the money supply. This is one of the better introductions to the Fed's operations that I have read.
I recommend quickly reading this book whenever you need a refresher course on the very basics of what to look for in economic indicators, especially with respect to how they affect the markets.
I finally understand indicators.......2004-03-24
This book turned the light bulb on for me. Definately worth the price and one I will keep and recommend to others.
Very Usefull and Simple.......2000-12-13
Very usefull, specially for begginers that want to understand the data releases that are market-movers.
A Great And Easy Reference Guide.......2000-05-13
I first purchased this book about 10 years ago and have done so about once a year since then. It is of great help for those just fresh from the university and to the seasoned financial guru. When data has been made public from the FED, this book helps one to diagnose and better comprehend those economic figures.
Book Description
The volatile stock market is turning serious investors into macroeconomic-data junkies. Yet understanding just what the economic statistics mean, their place in the actual machinations of the economy and financial markets, and how to decipher the market's likely reactions to the latest pronouncements is a daunting challenge. Interpreting and applying effectively the complex cocktail of statistical data to investment decision making can be overwhelming. This book hones in on the dozen most important economic statistics observed on Wall Street today and points out the role that each plays in moving markets. It highlights the key interrelationships that each statistic possesses in and among the other economic indicators, and outlines their practical significance to investors. An extremely readable desk reference written from the combined perspective of a former trader, academic, and current Wall Street economist, "The Trader's Guide to Key Economic Indicatorswill lead readers through the mists of information, revealing what these important measures are and what they really mean.
Customer Reviews:
Great coverage of important indicators without messy details.......2005-02-27
I found this book to be very readable and balanced from start to finish. Sure, some of the material became a little dry, but each chapter was readable in a single sitting. The excellent consistency between chapters with respect to the writing style and use of charts made the book well worth the time to read. The author has done a great job in pointing out what matters for each index he described. I wish all books on finances could be written with such clarity. This book is ideal for anyone who wants to learn more about spotting trends in the economy by learning the significance of the dozen economic indicators the author presents.
Quality book but too factual.......2004-08-24
This is a quality book without question. However, it provides too much factual descriptions about all the indices rather than important, key insights. I often had a hard time finishing every chapter completely. It often proves difficult (if not impossible) to get a hold of the data mentioned in the book without subscribing to a professional service like Bloomberg. 20% of this book gives 80% of the insight : I'd rather had seen the author explore that 20% in depth.
Not just for traders. Easy to read book for anyone........2004-06-29
This book was surprisingly easy to read and understand. Very interesting material for anyone curious about the factors that influence the economy and what measures to watch to understand where we are heading. Concentrates on the major indicators and tells you where the data comes from. Illustrated with lots of charts and tables to help you understand the relationships over time. Organized so that the information builds up to the more complex relationships. Though written by an economist, this book is surprisingly easy to read and the material was interesting (even for someone that slept through econ 101, like me). The most useful economics book I have run across. Highly recommended.
Superb Overview of Major Economic Indicators for Traders.......2004-06-24
Even if you once knew all the ways that economic indicators are defined, data collected and reported, chances are that all of this has changed (unless your knowledge is less than 2 years old). In addition, the best way to use these indicators is constantly changing as new analytical tests are developed and back-checked. So if you are the chief economist for a Wall Street investment bank or brokerage firm, you probably don't need this book. But if you hold stock and bonds in the United States less often than 10 years, you can profit from this book.
Each chapter provides a delightful history of how a relevant indicator was developed, how the measurements are made now, how to apply the indicator for stock and bond investing and the latest technique for getting an "edge" on just looking at the indicator alone. The material is written in the kind of simple language that almost anyone can easily understand. The math is simple, too. If you can do arithmetic, you can understand this book.
There are individual chapters GDP; leading, lagging and coincident indicators; employment; industrial production and capacity utilization; indices from the Institute for Supply Management; manufacturers' shipments, inventories and orders; manufacturing, trade inventories and sales; new residential construction; consumer confidence and sentiment; advance monthly sale for retail trade and food services; personal income and outlays; and the consumer and producer price indices. Each discussion looks at how these data help you understand the future business cycle, interest rates, corporate profits and Federal Reserve actions.
I thought that the graphs were one of the best parts of the book. You can judge for yourself how powerful the relationships are that Mr. Yamarone outlines.
As I finished this book, I realized how nice it would be to have similar books for consumer decisions (like when to refinance your home, etc.) using the same kind of indicators in different ways.
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Book Description
Economic indicators and economic policy have an incredible impact on the volatile financial markets, yet it is often up to traders and investors to interpret the effects and take decisive action. Trading the Fundamentals explains the significance and market impact of all widely followed economic numbers, including the Consumer Price Index, Employment Report and other well-known indicators. Completely updated and revised to reflect today's highly computerized environment, Trading the Fundamentals provides readers with all the tools they need to analyze economic news and make appropriate investment decisions. New topics include: A new emphasis on data availability through the Internet; More detail on indicators such as layoffs and productivity; A completely overhauled discussion of Federal Reserve policy; A discussion of the phases of the business expansion part of the cycle.
Customer Reviews:
Why isn't this book in print?.......2001-08-12
I have several economic books, yet this book (written by economic investment professionals) is the most understandable, readable, and usable book on economics I know of. You can understand this material without knowing economics! Since it gives web site addresses for the actual data, you can view the economic results online or sign up to have the results e-mailed to you. It includes tables, so you have a comparison guide to help you figure out whether the data fits in the recession, recovery or expansion phases. As someone who came to economics through the back door (from observation of the markets), economic data does MOVE the markets......This book should be considered essential for traders or investors!
The most important book a trader will ever read.......1998-02-26
The new edition of "Trading The Fundamentals" is a book no trader should be without.
This book explains what is important about each release, how they are compiled, and how the market interprets them.
If I could choose only one book - THIS WOULD BE IT.
Kevin Cotter, The Cents Financial Journal
Book Description
Market breadth indicators, i.e. advance/decline, new high/new low, or up/down volume, allow technical analysts and traders to look beneath the surface of a market to quantify the underlying strength or direction associated with a market move. Increasingly popular in all types of markets, they give traders the ability to accurately forecast a number of possible outcomes and the likelihood of each.
Bottom line? For gauging the near-term direction and strength of a market, breadth indicators are among the single most valuable tools a trader can use.
The Complete Guide to Market Breadth Indicators is the most comprehensive and vivid collection available of market breadth indicator information and features ideas and insights from market veterans including John Murphy, Don Beasley, Jim Miekka, Tom and Sherman McClellan, and numerous others. Chapters are first categorized based upon the mathematical relationship between the breadth pairs. Each indicator is then analyzed to provide information including:
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Also known as--other names by which the indicator is recognized
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Author/creator--when available
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Data components required--components of breadth data required to calculate the indicator
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Description--brief description of the indicator
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Interpretation--generally accepted industry interpretation of the indicator, with techniques of different analysts also discussed
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Chart--Chart or charts that best display the indicator
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Author comments--Greg Morris's personal interpretation, opinion, and use of the indicator, along with suggested modifications, complementary indicators, and more
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Formula--An algebraic formula for the indicator or, for formulae that are too complex for this section, a descriptive narrative on the formula
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References--An indicator-specific bibliography for additional information on the indicator or its creator, with notes about a particular book or magazine article
Breadth analysis is one of the purest measures of market liquidity. Applicable to virtually any exchange or index of securities for which breadth data is available, it represents the best available footprint of the health and near-term direction of the overall market examined.
The Complete Guide to Market Breadth Indicators is the first book to delve into the use, mathematics, and interpretation of the most popular and proven of these tools, and is an invaluable reference for technical traders and investors of all types, and in every market.
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