Trading Systems and Methods eBook

I just finished reading this book for the second time and it’s awesome. I read it back in 2003 and remember thinking the same thing. In the technical analysis section, I really like how the author not only explained the theory behind each indicator, but also included the formula used to calculate it. This book teaches you how to keep good records and also how to manage your losses using a 2%/6% stop-loss method. You can tell there was a lot of thought put into this book. It was very well written and everything was explained in detail. The psychology of trading was included in each and every one of the chapters. You learn the thought process of the traders behind the market(s) and also what to think about when creating your own indicators. The author shares two of his personal indicators, “Force Index” and “Elder-Ray” and why they were designed the way they were.There’s a lot that both beginning and advanced traders can learn from this book. The lower reviews that I have read on this book seem to be due to lack of material or applicability for/to day trading. The author does not focus much on day trading in this book, but even though I am not a day trader, I think a lot of the concepts could be applied to any type of trading (day trading included).