World Famous Comics: Trend Trading for a Living: Learn the Skills and Gain the Confidence to Maximize Your Profits
Trend Trading for a Living: Learn the Skills and Gain the Confidence to Maximize Your Profits
By: Thomas K. Carr Publisher: McGraw-Hill Average Rating: Binding: Hardcover Label: McGraw-Hill Number of Items: 1 Number of Pages: 312 Publication Date: December 06, 2007
If you're going to play the stock market, play to win by using a fundamental strategy of most hedge fund managers-trend trading. In Trend Trading for a Living, the trading coach and hedge fund manager known on Wall Street as “Dr. Stoxx” shares his personal strategies for analyzing markets, picking stocks, and knowing when to buy and sell.
This step-by-step book offers a practical road map to get yourself familiarized with the stock market and into the driver's seat of your financial future. In five progressive parts, Trend Trading for a Living helps you:
Configure your platform: setup your home computer to trade online with the best brokers
Learn the basics: understand trend trading, select stocks to watch, and interpret market signs
Get in the game: select the most profitable bullish and bearish stocks and pick your entry and exit prices
Leverage your portfolio: learn how to trade with options to increase your financial rewards
Turn pro: with patience, determination, and a strategy grounded in fundamentals, you can “trade for a living”
Clear, Complete, Focused and Useful I really like this book. For some time I've been an active trader, holding my own. I have almost every serious trading book around. This book is unusual in two respects.
First, and very important, it sets forth very specific concrete approaches to selecting stocks and timing entries and exits. Dr. Carr does not stop with generalities. He sets forth a number of specific setups with clear and complete instructions on how to use them, but he also gives the general principles underlying them. So, you know why what you're doing makes sense. Even better, the methods embody the KISS principle, avoiding the unnecessary and unproductive complexities found in many approaches.
Second, this book is surprisingly complete considering its moderate length. It productively covers and summarizes the psychological and discipline factors necessary for successful trading. It clearly describes in detail techniques to use in bull and bear markets, with separate discussion of both stocks and options. Dr. Carr gives specific online sources of free information. In short, everything you need to use his method is in the book except for the computer and internet connection.
My only criticism relates to the computer and internet requirement. Dr. Carr talks at some length about the type of computer and connection you should use. I think this is overkill since almost everyone who would read the book already has an adequate computer and internet setup. But, the information doesn't hurt, although it will probably be dated quickly.
Finally, Dr. Carr's unusual background might account for the excellent writing style. His degrees are from Oxford and Princeton, in philosophy and theology! He is a professor of religious studies. A much more interesting background than had by most investment writers. Dr. Alexander Elder, M.D., author of Trading for a Living, appears to have significantly affected Dr. Carr's approach to, and philosophy of, trading. On balance, this might not be the "last book" on trading stocks, but it definitely belongs - well read - on your shelf.
Well Written & Informative As a user of Stockcharts.com, I found the book very helpful in setting up screens for stock trades. I highly recommend to anyone using Stockcharts.com.
Highly reccommended for trend trader The trend trading is match with my style. I have read a lot of books about this such as, Michael W, Dr. Elder's book and more.. that are great books. For "Trend trading for a living", They are a step by step cleary information which is easy to follow and give me more detail to complete my trading system.
Trend Trading for a Living A great book with real insight. I particularly like the fact that he actually provides about 10 scan setups to help locate stocks which fit various bull and bear configurations he describes, then he explains how to trade them. Very useful, its at my desk everyday.
Get the edge Psychology, money management and an edge with a positive expectancy is all you need for trading success. The trading strategies in Dr. Carr's book give you that edge and are also easily adapted to end of day trading and longer trends. The Dr.'s passion for trading and teaching his readers to trade is obvious throughout the book. I've been trading trends for a very long time and I now have a book that I can recommend to people who want to know how to succeed using this method.
Anything Goes Trivia
Megaton Man
Trevor
