Rating: 
- Technical Analysis: Power Tools for Active Investors
Gerald uses an easy to read and casual writing style with meaningful insight into technical analysis.
He builds your confidence as you work through the book and eventually you become empowered enough to work effectively within the USA equity markets.
This book has helped me create my trading system that is producing a successful trading account currently and will allow me to make necessary trading system changes into the future.
The years of work outlined in this book along with substantial backtesting create real power tools for investors now and into the future.
Rating: - Treasure trove of information
To quote Dr. Alexander Elder from the foreward:
"The only thing you need to bring to reading this book is a commitement to market work. What you need to succeed is right here, on the table in front of you. It will be curious to see how many people actually take this knowledge and work with it to become successful traders and investors."
My experience with the techniques decribed in this book confirm this assertion. From the VIX, to the Moving average trading channel, and the MACD signalling the market bottom. All of the techniques described worked flawlessly in the recent market correction in January of 2008. I guess I have to say thank you Gerald Appel for sharing the insights you have gained over 30+ years of trading. I'm not sure I would have been generous enough to do that. Why would he give away his secrets that he worked so hard to develop? To quote Dr. Elder from the Foreward again:
"I recently visited Jerry and asked why he wrote this book. He laughed, "I enjoy seeing my picture on book jackets....It feels good to get your ideas out into the world, leave a little of your imprint around. I have never lost anything by giving ideas away. If people find it useful, it makes me feel good."
Trading is hard work. This book is a very good investment but only if your willing to invest the time and effort necessary to learn it and apply it.
Rating: - Rare glimpse into a veteran trader's mode of operandi
If you consider yourself as a serious global macro type of stock market trader, this book is an absolute must along with Stock Traders Almanac by Yale Hirsch. This book is complete compilation of 30+ year market veteran
who has many tips and tricks to help your trading.
Rating:
- useless
bought this book beacause of macd - ok but nothing more. the rest of the book is more or less useless. For me it sees that he wrote this book because of what he had to say about macd. absoluttly wate of money and time. do you want the best go to a. elder. he si the best.
Rating:
- A good TA "and" trading book for relatively advanced players
I am a mechanical trader using primarily trendline, MACD and Stochastics. That explains why I immediately picked this book up when the tagline "Inventor of MACD" on the front cover entered my eyes. Out of expectation, this book had only one (out of ten) chapter on MACD (but I did learn that the author used 6-19 and 19-39 other than 12-26 as parameters). The rest were on volume, moving average, oscillator type TA tools, plus strategies on fund selection and switching, and trading on seasonal+cyclical factors (Chapter 5 which I like the most, that he explained with solid data why the Nov-Jan period, the pre-election year etc are the best time to enter the market). As a trading book, this is relatively compleat and helpful, though I admit I am biased for my respect to the author. In short, recommended, particularly for those with certain trading experience + TA knowledge and want to acquire more for an edge.
p.s. As a VAS to you and a support to my review above, below pleaes find a summary of "Lessons I (the author) have learned during 40 years as a trader" in the last chapter.
- The news media tend to be the last to know and almost always tend to follow stock market trends rather than to lead them.
- There might be many benefits in attending lectures, meetings....but it is probably best to operate alone.
- It is best to keep your results and performance private.
- Human nature operate against good trading practices. Traders often tend to close out their strongest positions too early and maintain their weakest positions for too long.
- The name of the game is to make a good (but not unreasonable) return for your time and capital, not to feel smart.
- Dont confuse rising stock prices with being a financial genius.
- In-and-out trading will not be as profitable as well considered intermediate term trading.
- It is better to miss a profit than to take a loss.
- It is probably best not to operate at the market opening.
- Do not enter into an invested position without an exit plan
- It is much better to trade with no more capital than you can comfortably risk.
- Three consecutive successful trades makes us feel like a genius. That's when they get us.....
- Make note of some losing transactions....The stock market, at best, is a game of probabilities.
- Be free to simply stand aside until matters clarify.
- Technical Analysis: Power Tools for Active InvestorsGerald uses an easy to read and casual writing style with meaningful insight into technical analysis.
He builds your confidence as you work through the book and eventually you become empowered enough to work effectively within the USA equity markets.
This book has helped me create my trading system that is producing a successful trading account currently and will allow me to make necessary trading system changes into the future.
The years of work outlined in this book along with substantial backtesting create real power tools for investors now and into the future.
Rating:
- Treasure trove of informationTo quote Dr. Alexander Elder from the foreward:
"The only thing you need to bring to reading this book is a commitement to market work. What you need to succeed is right here, on the table in front of you. It will be curious to see how many people actually take this knowledge and work with it to become successful traders and investors."
My experience with the techniques decribed in this book confirm this assertion. From the VIX, to the Moving average trading channel, and the MACD signalling the market bottom. All of the techniques described worked flawlessly in the recent market correction in January of 2008. I guess I have to say thank you Gerald Appel for sharing the insights you have gained over 30+ years of trading. I'm not sure I would have been generous enough to do that. Why would he give away his secrets that he worked so hard to develop? To quote Dr. Elder from the Foreward again:
"I recently visited Jerry and asked why he wrote this book. He laughed, "I enjoy seeing my picture on book jackets....It feels good to get your ideas out into the world, leave a little of your imprint around. I have never lost anything by giving ideas away. If people find it useful, it makes me feel good."
Trading is hard work. This book is a very good investment but only if your willing to invest the time and effort necessary to learn it and apply it.
Rating:
- Rare glimpse into a veteran trader's mode of operandiIf you consider yourself as a serious global macro type of stock market trader, this book is an absolute must along with Stock Traders Almanac by Yale Hirsch. This book is complete compilation of 30+ year market veteran
who has many tips and tricks to help your trading.
Rating:
- uselessbought this book beacause of macd - ok but nothing more. the rest of the book is more or less useless. For me it sees that he wrote this book because of what he had to say about macd. absoluttly wate of money and time. do you want the best go to a. elder. he si the best.
Rating:
- A good TA "and" trading book for relatively advanced playersI am a mechanical trader using primarily trendline, MACD and Stochastics. That explains why I immediately picked this book up when the tagline "Inventor of MACD" on the front cover entered my eyes. Out of expectation, this book had only one (out of ten) chapter on MACD (but I did learn that the author used 6-19 and 19-39 other than 12-26 as parameters). The rest were on volume, moving average, oscillator type TA tools, plus strategies on fund selection and switching, and trading on seasonal+cyclical factors (Chapter 5 which I like the most, that he explained with solid data why the Nov-Jan period, the pre-election year etc are the best time to enter the market). As a trading book, this is relatively compleat and helpful, though I admit I am biased for my respect to the author. In short, recommended, particularly for those with certain trading experience + TA knowledge and want to acquire more for an edge.
p.s. As a VAS to you and a support to my review above, below pleaes find a summary of "Lessons I (the author) have learned during 40 years as a trader" in the last chapter.
- The news media tend to be the last to know and almost always tend to follow stock market trends rather than to lead them.
- There might be many benefits in attending lectures, meetings....but it is probably best to operate alone.
- It is best to keep your results and performance private.
- Human nature operate against good trading practices. Traders often tend to close out their strongest positions too early and maintain their weakest positions for too long.
- The name of the game is to make a good (but not unreasonable) return for your time and capital, not to feel smart.
- Dont confuse rising stock prices with being a financial genius.
- In-and-out trading will not be as profitable as well considered intermediate term trading.
- It is better to miss a profit than to take a loss.
- It is probably best not to operate at the market opening.
- Do not enter into an invested position without an exit plan
- It is much better to trade with no more capital than you can comfortably risk.
- Three consecutive successful trades makes us feel like a genius. That's when they get us.....
- Make note of some losing transactions....The stock market, at best, is a game of probabilities.
- Be free to simply stand aside until matters clarify.