One of the things I was concerned with when I went into trading was whether if trading principles can stand up to the scrutiny of statistical validity; I found comfort in this book as Grimes has conducted a lot of research with massive data behind his principles. It is easy to understand, and chock-full with tons of valuable information.
What I like about the book is that Grimes is willing to confront the issue of "efficient market hypothesis" (an academic theory that you cannot beat the market) head on, with his unique insights. It's been said that finding the unique combination of a good trader and a good teacher is nearly impossible, and I have found it in this book.
As one of the posters said below, this book will eventually join the tomes of trading "must reads"... I highly, highly recommend that you grab it!
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99 reviews
Alex
Great book in technical analysis
15 June 2015 -
Published on Amazon.comVerified Purchase
Yuchao
A great guide book for swing traders. Belongs to the "Classics" category in time to come.
13 May 2018 -
Published on Amazon.comVerified Purchase
A great guide book for swing traders. Belongs to the "Classics" category in time to come.
Reviewed in the United States on 13 May 2018
This is a truly good book. If you are an experienced trader, you will be able to understand the many great wisdoms in this book. I read this like a textbook and have many of the pages highlighted.Reviewed in the United States on 13 May 2018
If I have to list any misgivings for this book, I will point to chapter 3 where Adam talks about Elliott waves but the figures following (Figure 3.1 and 3.1) incorrectly drew the impulses as 3 waves when the correct structure should be 5 waves. This should be corrected in future editions of this book.
The second misgiving will be more of picking bones out of eggs: the last chapter on MACD has a few charts that can be a few pages away. This is just an organizational issue and poses mild inconvenience when trying to refer the chart to the text. The chapter itself is great though and helps me correct a grave misunderstanding of MACD: regarding the fast line being a 2nd derivative of momentum.
Like I said, if you have been in the markets for at least a few years, you will see the many nuggets of wisdom scattered throughout the pages. For an amateur, this book will probably seems to lack "value" as it doesn't seem to contain as many topics on technical analysis compared to other TA books. Thus, this book is really more of a guide that specialised in guiding you through a few very focused methodology of trading (really more for swing trading) as opposed to a reference book on TA where you can find formulas for different indicators.
In conclusion, I would say these:
1) This book is more geared towards swing trading and it does so brilliantly.
2) While it is a simple book with many great trading wisdoms, it is not really for beginners if only because a new trader will not be able to harvest them as an experienced trader would (sorry about this). I will only recommend this book for anyone who have at least 5 years of trading experience in order to really appreciate it.
3) Take note that there is a mistake regarding Elliott waves as mentioned above.
I have never writtened such a long review for a book but this book is worth every moment writing a comprehensive review for. This is certainly a book that belongs in the "Classics" category in time to come.
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Ting L
A remarkable book on technical analysis
9 October 2020 -
Published on Amazon.comVerified Purchase
John Grover
Teasing a trading edge out of market price patterns
25 August 2014 -
Published on Amazon.comVerified Purchase