Mastering the Trade: Proven Techniques for Profiting from Intraday and Swing Trading Setups (McGraw-Hill Trader’s Edge Series)

Im not going to write about the topics in this book, as you can easily find out by reading it. I will, however, give you my honest opinion of this text. There are also plenty of other good reviews you can read to get a synopsis of this title.The book is logically written and easy to follow. You can easily conceptualize some of his techniques but wont know if they hold any truth until you put them to the test. Many reviewers have backtested his setups and claimed them false or invalid. However, we also have to remember that some setups we backtest and have great results with dont fare well in the real world. So, the backtest argument goes both ways.The best way to put this book to the ULTIMATE test is to simply use his setups by following them to the T in the real world with REAL MONEY. Put real dollars on the line and you will see if any of the ideas hold true.Well, that is what i have begun to do. After reading this title, i quickly put 3 of his setups to the test and traded them word for word with minor adjustments on stops and entrys.I used Pivots with DDM successfully and made enough money to pay for this book a hundred times over.I used his ping pong plays and made money 75% of the time.I also used his HOLP and LOHP setups and avoided a costly mistake in going long CIT before the 80% drop just 2 wks ago.So far, i can say that this book is worth buying and having a look at. You have to try his setups and really see for yourself if they work or not.He lays out a business plan for you to follow...of course you can tweak it to your liking and preferences.Although he does emphasize futures trading alot, you can apply it to anything like an ETF or some other instrument.All in all, i have yet to try his other setups but if 3 of them are working for me, thats all that will make this 40$ buy worth it for me. Even if i got one good setup out of it, it would be worth it...because most trading books are BS and a waste of time.The only reason why i havent rated it 5 stars is because i havent had the time yet to trade all the setups that i like. I chose 5 out of the 10 setups and want to give them equal chance. Because i had success with the ones i tried so far, i will rate it 4 stars.will update my review again in a few weeks.

I was excited to receive this book because it is written by a seasoned professional and as such carries a lot more credibility than one from someone who never actually managed money. I am a money manager and systems developer myself and have managed huge positions and had many hundreds of clients. The first few chapters of the book cover some basics particularly those relating to psychology and setting up to trade. All of it is good. The section on computers is as would be expected for a book published in 2006. Then the book gets into some areas of trading. Chapter 5 is excellent and covers various breadth and/or market internal measurements. I found this chapter to be worth the price of the book as I have always traded with breadth and it was very nice to catch some differt viewpoints and ideas. John Carter is not a systems trader and I am. I code everything and test it extensively. Mr. Carter is a discretionary trader and as I started to code his methods (Part two) I found them to not hold up very well to the scrutiny of computer analysis. The concepts are still of value though, so I still recommend it as excellent reading and a wide array of excellent trading ideas that could be built on. Many times it is the process in the thinking that is of more value that the content itself. So, if you are inclined to purchase the book to find instantly useable trading ideas, you might come up short. But, if you want something that might inspire some of your own brilliance, of course, you may just find a jewel or two. Section three of the book covers more on planning, psychology and the game of trading. This is an excellent book for any level of trader.

This book will make you money. End of story. Open your mind. It does talk a lot about futures but suggest etfs that can be used....honestly the futures were more lucrative and made me think differently to the whole stock market. Yes I am making money.... love it

The promos for the book and Carter's articles led me to believe that this book dealt equally with swing trading and intraday trading stocks. In fact it is mostly focused on very short term and intraday trading of S&P and Dow futures and other such indexes and currencies. Since I can't trade these intraday a good part of the book was of little present use to me. If I were trading them I think this book would be of great value. That was the negative for me but the book is well worth its cost even for the parts that are focused on swing trading. It is extremely easy to follow. It provides many interesting insights and a host of good examples.I have tried some of the approaches suggested for swing trading stocks and have had some limited success but I haven't done enough trading to see if it will ultimately provide some real value.Some of the things I did like were the descriptions of how to set the specific buy prices for longs and sell prices for shorts as well as target prices to close out trades at and the approaches to clearly defining stops. Most such books avoid be specific in these areas and to my mind have little value because of that.Had I found this book when I day traded, I think it would have been far more valuable to me and if I do go back to day trading I will certianly consider its approaches.

I must admit, this is a great book. Good for the intermediate trader, as well as a fairly knowledgeable beginner. I think the main point I should stress is that this guy is actually a good writer. Often, trading books are dull as paint, particularly Technical Analysis books. Not so this book.My one issue is that after trying a few of the trading system examples on paper over a period of a week, they are frequently subject to failure. But as I read in a different review earlier today, someone noted that "once a system is out, it is effectively dead". I can see that point. So remember to adapt these systems to your trading style. Also, remember there is no sure thing in the markets.

This book is not for beginners. Readers are expected to be familiar with basic technical indicators, chart reading, common tradeable assets, etc. This book caters to those who have already attempted day trading or swing trading in the past but have been unable to put in the time and effort to take it to the next level.The main part of the book deals with the author's various trading setups, where he provides the rational for why they work, step by step guides (including limit and stop tactics, entry points, preferable conditions etc) and caveats. He gives detailed examples based on real trades with charts for each setup.He also provides guidance on how to manage risk, formalise trading rules to ensure discipline, in effect a business plan for traders.The author writes with confidence. He sounds very experienced and his writing shows. He has a high opinion of his own talents, which may grate a little. He has no sympathy for fools and undisciplined traders. However, his unforgiving style is in line with one in his profession. After all, trading is an unforgiving profession.I have definitely benefited from this book. I have implemented individual setups outlined in the book, with positive results in the first 3 days of trading. More time will be needed before one can be certain that the setups work. Also, I have not combined different setups, which should improve performance even further.

A good read but nothing to getting really appreciate or get excited about!...could have been more illustrative

One of my favourite books along side Elders books. Clear and concise and such an enjoyable and easy read. I am about to start it again but do wish that Mc Graw Hill would make more effort with the graph details as this is an unnecessary hurdle. Chapters on cash management and trading plans are invaluable. I disagree that this book is not for beginners...it would have helped me if i had read it early on in my trading career as it puts the usual tech. indicators into perspective for what they are ...indicators and not short term trading tools.

Like any guide, the author is convinced that he/she is always right. The text does detail some high probability tactics but due to the very nature of the markets, the probability is a dynamic measure. There is a good point about emotional involvement but the author contradicts himself several times as he explains emotional reactions to certain set ups. overall, a very useful guide to formulate your own strategies. Proven techniques are historical an bear no relation to the present day.

Excellent book