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MAKE MONEY IN THE MARKET BY NOT BUYING THIS BOOK
The money you save by NOT buying this book will put more money into your brokerage account which you can use in more useful ways. Just another book with a sharp title and cover to lure one into wasting their hard earned money on a useless product. DON'T BUY!!
If This Is Such a Reliable System, Why Is The Author Peddling Someone Else's "Black Box" System Online?
Why three stars instead of zero (which one might have expected me to give it after reading what I'm about to write below)? Because Carter's an effective writer and says some things that make sense, even a lot of sense at times. But as the title of this review suggests, I'm puzzled by how Carter expects us to take this book seriously when at his website, [...], he's peddling someone else's (not even his own!) "black box" system (for a definition of "black box," see Wikipedia: [...]; in general, when applied to trading, it's a proprietary program that one relies on to indicate when to buy and sell and whose dictates one follows without worrying about what criteria it uses to make its decisions, which are kept under lock and key by the creator of said system).
In the video located (as of this writing, on 6/16/10) at [...], at around the twelve-minute mark, Carter fawns over the "Wave Indicator" developed by "Rodney," which is on sale at half price for a mere $747 (see 24:27 into the video). Why would a supposedly world-class trader steer the visitors to his web site to someone else's black box trading system? Doesn't this reduce, or at least call into question, his credibility as an authority on trading? Everybody's looking for the trading "Holy Grail," and apparently Carter believes this other guy's system is just that--or at least enough to ask his followers to shell out $747 for it. Why waste our time asking us to read this long tome when all he has to do is tell us to buy this other guy's system and blindly follow what it tells us to do in order to make a bundle of money?
Excellent Explanations
This is one of the better trading books I've read. I would have given it 5 stars but because of it being just a tad dated (4 years old) I marked it down 1 star simply because a lot of the material is specific rather than general. I like specificity but it ages quicker than generalities or principles. With that said, the majority of the material is still pertinent. At least 1 of the techniques though are no longer valid (the 2:50 PM trade) because it's a low volume trade and when a lot of people started using it, then it lost its effectiveness. The author, who makes his living trading, gives specific trade patterns and techniques he uses. He provides lots of examples of trades with clear, easy to understand charts and explanations. He discusses how he enters and exits certain trades. Very valuable information. It's a keeper for my shelf and I highly recommend it.
Mastering the Trade
Being well written it leads to a strong sense of confidence about the trading ideas put forward.
In addition there are many expressions of criticism for anyone that does not follow trades to the letter.
Having traded some and simulated the others I believe there is nothing in this book that is directly a money generator. The views are too simplistic (cookie cutter almost) to be practicable and there is no direction on how to develop.
Easy read, bad execution.
Many better books out there on successful trading style and techniques.
A GREAT BOOK!
This is a MUST-HAVE book for people who have just begun trading actively. The set-ups that he included in this books are proven techniques that highly increase the probability of being profitable. Grab a copy!
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