5 comments about The Complete Guide to Real Estate Options: What Smart Investors Need to Know - Explained Simply.

1. "The Complete Guide to Real Estate Options: What Smart Investors need to Know - Explained Simply" by Steven D. Fisher is an astoundingly easy to read book. It provides step by step guidance to becoming a savvy real estate investor and especially in view of the Lease Option Strategy. This book has everything a consumer needs to know. Fisher covers both the advantages and the disadvantages of the Lease Option Strategy. The book also covers every aspect of what it takes to become a successful Real Estate Proprietor ranging from the importance of developing and maintaining the right attitude to becoming a wise and successful landlord.
   
   Fisher teaches you how to effectively get started as a new investor and how to avoid legal drawbacks by following steps to comprehensively set goals as you manage your business and property. You will learn the importance of organization in every area of your life in relation to success; from managing your credit properly to organizing your office. You will even learn how to organize and apply a successful "action plan."
   
   "The Complete Guide to Real Estate Options" teaches the real estate student how to build a rapport by using exercises that will help you to become a success in the real estate arena.
   
   This book, chapter by chapter will inspire any up and coming investor and even a seasoned investor to acquire his or her goals more quickly and easily. If you're looking for a good book that will teach you the ins and outs about real estate investing, this is the book for you. I give this book two thumbs up and without doubt a 5-Star rating.



2. One could well imagine Mr. Stephen Fisher, author of The Complete Guide to Real Estate Options What Smart Investors Need to Know - Explained Simply sitting down to write this book and applying many of the principles he's about to articulate to the production of the book itself.
   Aided by quotes from a variety of well-known personalities (Mark Twain, Warren Buffett, Tiger Woods, et al), Mr. Fisher sets out an exhaustive, step-by-step plan for anyone who is now, or ever has considered real estate investment as the best way to make a living. He does so very meticulously and with a great deal of attention to detail. Chapter headings and indeed, much of the text could be applied to starting any kind of business, or, as noted, to writing a book about starting any kind of business: Attitude is Everything (Chapter 2), Getting Started (Chapter 4), Some Basic Principles (Chapter 5).
   It is clear from reading carefully that Mr. Fisher has done his homework in the field of real estate options and in particular, believes that the `lease option' is the best way for investors to go. With over 25 years of experience in the fields of business writing and training and development, it should come as no surprise that he has crafted an excellent instruction book on the ins and outs of buying and selling real estate. He has included interactive options for the practical entrepreneur, like check lists, and blank forms that the reader can use to track his/her own progress, whether it be in evaluating a property, the neighborhood that it's in or the buyers who want to own it.
   He uses clever acronyms to crystallize reader thinking about specific subject matter. In an early section about "setting goals," he suggests that the reader/entrepreneur utilize the "SMART" method of creating those goals - Specific, Measurable, Action-Oriented, Realistic and Time-Bound. Near the conclusion of his book, he recommends that those seriously interested in pursuing real estate investment "SWOT" themselves; in other words conduct an objective analysis of individual Strengths, Weaknesses, Opportunities and Threats.
   His style is very casual, very confident and well within the grasp of an average reader. Fisher isn't speaking to experienced professionals here, although even the most seasoned of those could likely find a great deal of food for thought here as they continue their pursuit of real estate deals. He's talking to the person who's considering this particular career path and if it's one that interests you, you could do no better than to start with him and this book.
   Take notes. There isn't a quiz later, but if you head out on the route he's plotted for you, you're going to want to look back and remember some of the specifics



3. Having always wanted to make a fortune in property I've just bought my first house. But I wish I'd read this book before hand! It would have given me a tonne of knowledge about my options in property and I may have made a different decision.
   
   What I liked most about the book was that it really did assume no prior knowledge - it even started with a whole bunch of guides on how to get motivated and set goals and prepare yourself, before you even make your first step. Plus including things like real estate market psychology takes it beyond boring old numbers and statistics!



4. If you've been tempted to invest in real estate but the jargon, the paperwork and the cost seem a little scary, pick up a copy of Steven D. Fisher's handy book. This well-written volume offers a clear and concise picture of some of the basic tools you'll need to gain a foothold in the field. Whether your goal is to purchase just one investment property or create a massive portfolio, Fisher offers an understandable, common-sense approach to buying real estate.
   
   He begins by explaining both the advantages and disadvantages of real estate lease options, a method that allows potential buyers to invest only a fraction of their funds in a property. The examples provided by the author allow beginners to visualize how the process works. One of his most valuable chapters offers readers the opportunity to create their own "action plan," which outlines all the goals they seek to accomplish. Planning is key, Fisher advises, along with a positive attitude and the willingness to learn more about changes in the real estate market. Don't overlook basics like knowing your financial limitations and credit rating before you attempt to invest.
   
   But, Fisher does more than walk the reader to the front door of that new property. Once your purchase is complete, he takes you inside by explaining how to work with repairmen, how to find good tenants, and also provides an inside look at relevant matters such as taxes and maintaining your property. So, whether you're a newcomer to the field or someone who wants to brush up on investment techniques, let this clearly-written practical handbook be your guide.



5. The contemporary real estate market has left a wake of uncertainty in the minds of many investors. Though risk is inherent in any investment decision, the real estate market reflects real-world conditions as well as individual perception of market conditions.
   
   The Complete Guide to Real Estate Options: What Smart Investors Need to Know - Explained Simply is a non-nonsense guide to a specific type of real estate transaction: the real estate lease option. As explained by Steven Fisher, the book's author, the lease option is a lower-risk approach. As contrasted against the real estate purchase option, the lease option requires less money and limits exposure to the risks associated with property ownership.
   
   The Complete Guide offers strategies for researching, marketing and developing the necessary attributes to become a successful entrepreneurial investor. It also gives templates for sample letters and exercises that help build the skills required to build your own real estate business. The Complete Guide is a must for anyone interested in being successful in today's real estate market. It is a practical read as well as a handy reference for lease option investing. An added benefit: the publisher is donating a portion of their profits to the Humane Society, on behalf of the passing of their beloved office canine, Bear.

5 comments about DeMark On Day Trading Options.

1. Prior to xmas and on my birthday I received a copy of DeMark's 'New Science of Technical Analysis'. I have been a professional trader for over 20 years and currently head up the trading operation at one of the major Wall Street firms. I thought I knew how market operateed and I shared my expereince on TV, radio, and in newspapers for years. Upon reading this book and as well ass the other two in the DeMark set, I have gained a profound new awareness how markets truly behave. The author is beyoind peer in defining and describing the intricacies of price behavior. What an enlightening series of reads.



2. My trading partner introduced me to the author's work. He told me that the author had worked closely with Paul Tudor Jones, Leon Cooperman, Steve Cohen and other industry titans. To be associated with these guys, he had to have something of value. After reading his books, my conclusion is that he truly possesses a creativity and market awareness that is unmatched in the industry. Although the ideas he presents can be profitably applied, I am certain that he does not share everything he knows with the reader. Regardless something is better than nothing.



3. You may want to think twice about this one. Not to be negative, but it is very hard to follow. Clear and concise dialog is absent in favor of unnecessary "branding" if you will of common techniques mixed with completely unverified and difficult to back test methods for trading the markets. This is trading celebrity gone wrong. I would love to know the remaining balance of an investment account traded with these "TDious" indicators. You can at least save yourself from this trade.



4. The previous reviewer cites the perception of the author's inflated ego. I too was distracted by the author's tendency to refer to "TD" indicator this and that and this disturbed me. However, i had the good fortune to meet the author at a Bloomberg seminar and the author explained why he chose to preface his indicators with the 'td'. The justification he gave was that his attorney wanted him to trademark and control the indicators and that was the effective way for him to accomplish that goal. I accept that reason and more than that I can overlook the petty complaint that it is distracting by concentrating upon the value I find in the indicators. I say call them whatever the author wants to since bottom line they are the best I have seen in my 35+ years in the industry.



5. I am a fan of Demark's indicators if you or I can ever get them. His indicators are only given to high dollar companies like reuters. My reading of this book was a painful process of trying to understand a indicator I cannot even use in trial applications. IT is clear that Demark has left his loyal following to make up bargin basement Metatrader indicator rejects. Like most in this business.....business comes first. I rank this has a 3 and the only reason it got a three was because of the quality of the work. Demark is really only valued by the traders who honestly don't need him to trade like myself. If I was a rookie and pick up one of his books I would not trade the markets because of the over don't explanation and indicators I could not follow. Do not read the reviews folks. They seem real suspect. Make a simple explanation book Demark and make your real indicators available.

5 comments about Options Trading for the Conservative Investor: Increasing Profits Without Increasing Your Risk (Financial Times Prentice Hall Books).

1. Overall lots of information, but Thomsett does not fully explain the risks involved with selling covered calls. Essentially all of his model portfolio would have been in the money after selling the Leaps wtih in weeks. Rolling would not be practical as one could only roll up for the 27 month Leaps. Selling a Pepsico 27 mo. Leap at 50 with a current price (in Sept of '02) of 48.48 netted a $4.30 premium. The stock hit $50 within a month or so and was at about $63 by expiration. The only way out would be to roll up (at an ever increasing cost), hold for two years, or buy back the call. For the average investor (including myself) seems a bit complicated. If after selling a call, the price falls, the risk is even greater. One would need to close out the call by purchasing it back before selling the shares or risk having a naked call. The stradles described later in the book may reduce risk but for most trading accounts managing margin is not for the faint of heart. Definitely read this book with a large grain of salt and thourghly understand the risks associated with such options trading.



2. Great book if you are considering doing options in your IRA or Roth. Author is very straight forward in pointing out pit falls with a number of option stradegies that could get one into trouble and on the flip side those that work that will build your portfolio over time. I also liked that the author spent some time on tax implications of Options that other authors never speak about. Author could have spent some time on how one searches for stocks that fit the conservative option stradegey, i.e. how to use filters and screeners in various web sites.



3. 
   The ratio of talk to concrete examples is 85% to 15%. I like straight to the point books, that can and should reinforce important points but keep the fluff to a minimum...



4. As an investor I used to take investing with options as more of a speculative strategy, after going through this book, my view about investing with options is changed. Now I am convinced that in some situations, investing with options may yield better result then stocks.
   One negative about the book; is repetition of the concepts, I would not complain much since that repetition clear my understanding of the new concepts.



5. The book presents valid ideas but is so poorly editited I can only give it two stars. It is full of errors and some of the assumptions in option pricing would never exist. Did the author even re-read what he wrote? I would not consider myself an "expert" but I have read and studied stacks of books on the subject and traded options for years. I also utilize his strategy for my portfolio.
   
   Having said all that I would still recomend this book simply for the validity of the strategies presented, but only if you already have a good knowledge of options investing so you can identify the mistakes.
   
   This book is recomended by many other authors of options related books. They could not have actually read the book or they would never have endorsed it. And the last point makes it hard to believe any further recomendations they would make on other authors.
   
   Jim

3 comments about Options for the Beginner and Beyond: Unlock the Opportunities and Minimize the Risks (Financial Times (Prentice Hall)).

1. Trading in options by regular folks looking for big returns has been catching on and I am not sure why. Are they really trying to use options to alter the risk of their retirement portfolios - either lowering the risk to ensure the preservation of capital or to add volatility with the design of increasing returns? Probably not. The average person is probably acting as a speculator and placing bets. For the market, this kind of behavior is a good thing because it adds noise that allows the professionals greater opportunities to profit. Now, think about what that means. You know the old saying about sitting down and a poker table and if you can't spot the patsy that it's you? Remember, options are an area of the market where there are only winners and losers. These are instruments where one side wins and the other side loses. However, in the right hands they are very important and useful financial instruments.
   
   This book is not a textbook on option theory, pricing, or how to use them in the context of lowering or increasing risk in a portfolio. It is a basic how to text for buying and selling options as speculative investments. The author, W. Edward Olmstead, is a math professor at Northwestern University and teaches a course in options. His experience with the topic shows because the text is clear, easy to read and to grasp. That is a fine accomplishment because learning how options work can be a mind bending experience for the first timer. Admittedly, he doesn't take the reader into pricing. Here, as an investor, you basically take the price given and make a decision. Of course, developing a position about what the price "should be" is what professional options investors do and if you are just licking your finger and sticking it into what you believe to be the financial breeze, well, just remember I warned you.
   
   Olmstead organizes the book into three parts. The first explains the basic concepts of what options are and some ideas about buying and selling them. His notions of when to buy and sell and how to use the way options change their value throughout their "life" are quite interesting. It would be fascinating to find out how well they work in real life and if they did, why these abilities to gain aren't simply priced away by people trading against them.
   
   Anyway, the second part goes into trading strategies and describes various kinds of spreads, collars, and so forth. Of course, these positions are geared towards fashioning risk for certain kinds of outcomes. They are not magic in themselves and are just as likely to end up worthless as any other set of options, but the downside and upside will be more specifically defined.
   
   The third part contains special topics (including DAY TRADING with options - oh boy, talk about walking into a financial mind field wearing lead boots), he touches on pricing and volatility and delta neutral trading.
   
   An interesting book that can help the beginner get some idea about options and can help those itching to trade in them begin to do so. Just remember the old childhood saying that knowledge is when you know the stove is hot. Wisdom is what you have on your fingertips after you touch the hot stove.



2. This book has excellent examples to supplement the excellent details about how to use Stock Options. Well written and easy to understand.



3. I have taken hours of classes on how to trade options. I have read lots of books on how options work and how to trade them. I have traveled hundreds of miles and spent thousands of dollars to learn how to become a better options trader. This book is sooooo... good if I had read this book first I would have made more money, loss less money, and I could have gained 100% more value from all the other options training I have done. If you are looking at trading options this is your starting point! If you already trade options then use this book as a review, becasue it has some very lucid explinations e.g.Chapter 29 - IV (implied volatiltiy) and the Black Scholes model. Now this will not be the only options book that you will get, and it does not go into super detail depth like a Sheldon Natenberg, but it is easy to read, it gets directly to the point and it's relatively small compared to other options books. The chapters are written independently of one another, so you can skip through the book and read exactly what you want. So if you just want to know how a double diagonal works then you read that chapter and your done. Thank You Professor Olmstead!They need to rename you Uncle Option :)

4 comments about Consider Your Options 2007.

1. This is a super book to have available in the office. My first copy was dogeared and held together with tape and sticky notes. The book is written in plain English and continues to be a great help!



2. I recommend this book for financial professionals as well as laypeople who need to learn their options (forgive the pun) regarding stock options. This book is current with tax law through 2007.



3. I looked on the web for information on exercising options since I had no prior business training in this area. This covered all the important facts and defined the language so that I could research the more complex areas myself. Clearly written and a quick read.



4. Consider your Options explains the potential benefits and pitfalls of stock options and tax impacts. I purchased this book specifically for its excellent coverage of the use of ISO grants and AMT impact. I would recommend this for those thinking about leveraging ISOs.

5 comments about The Electronic Day Trader: Successful Strategies for On-line Trading.

1. This book is essentially obsolete just three years after its publication. Stocks are now traded in decimals, and the spreads on heavily traded stocks are now almost nonexistent, sometimes being less than one cent a share. Consequently, you can forget about any of the strategies or information regarding "pocketing the spread", "getting between the spread", etc. With the proliferation of ECN trading, the influence of the market makers in a stock has been markedly reduced. In a stock that trades 80 million shares per day, a market maker with a 100,000 share block is not going to be able to move the stock significantly, and ECN trading can overwhelm his influence. Likewise, information gleaned from the Level II screen, while still useful if one knows what to look for, is no longer the Holy Grail. Also, day trading firms, like the authors' "Broadway Trading" are on the way to extinction, now that some big online brokers offer direct-access trades for less than a quarter of what day trading firms charge, as well as offering free Level II quotes and other information not available to the day trading firms.

   While the book contains a few nuggets of trading info, it was not written in a logical, easy to follow manner. As has always been the case, aspiring traders need to study the markets intensely and develop their own trading techniques; they cannot expect that any book will teach them how to be successful in a field where very few people ever succeed.




2. good book , nice condition



3. This book completely fails to realistically convey the relative risks and profit potential for the average wannabe day trader. Im talking about someone with less than a few thousand to play the market. Unless you have big bucks and Level II quotes forget day trading unless you are very lucky. In the trading parlance, I wish I had a short position on this book at its current price, and could cover my short at the current used price! Save your money.



4. They went bankrupt, which is where you would be if you followed West and Friedfertig's methods. The book was a copy of Jack Schwager's Market Wizards series, due to the interviews conducted with "traders". You would be amazed if you saw some of these people and didnt read their words in print. Somehow they would not come off so sharp. Trust me!

   Also do you think our authors would be able to spot "managerial talent" over a few aspiring proprietory traders? No they hire guys who have previously filed bankruptcy in their past and pipe up their accomplishments, which are a joke when you realized they bailed on creditors!!

   Save yourself a dime and avoid it-if someone gives it to you, and you can't return it, use to start the BBQ grill. I could go on and on about SEC/NASD violation, getting short on a downtick, etc but I wont!




5. There are some good ideas that you can rescue from this book. Therefore I think you should buy it since you can make much more money and certainly recoup your small investment if you employ 2 o 3 good tips.
   
   Any way, from my point of view a trader must always read as much as he can. There is simply no other way to prepare one self for this difficult yet incredibly rewarding activity, but to learn and put into practice as much ideas as you can, at least by paper trading first.
   
   The are a lot of books on the subject, however many of them where written 2 o 4 years ago and that kind of makes them obsolete in this constantly changing field.
   
   The internet offers great places where you can learn more specialized trading techniques. One of those places that I have found to be worthy is ProfitableStockmarket dotcom.
   
   They focus mainly on momentum trading and employ a rather simple yet effective strategy. I think that for a trader to survive and be profitable, its neccessary to keep their trading as simple as possible. To much confussion and technical indicators will most of the time make you slow in your decisions and froze you up when a good opportunity is right in front of you.
   
   In the end it's all about buying or selling with out hesitation, and doing it over an over again according to your set ups.

5 comments about Option Volatility Trading Strategies, New and Updated Edition.

1. No one has ever questioned that Natenberg literally wrote the book on option volatility and pricing, but I don't think anyone will argue it is not a light read. This new work is immensely more accessible and actually reads light a chat with the author. The professional or highly experienced trader might find it a good refresher at best, but for the newbie or average trader this book is a trove of answers and solid explanations. I haven't tried the tests at the end of the chapters (you can go to Traders' Library to take the online) but it looks like a good idea. The way I see it is this book is like the friend you had who read the instructions for the game Risk so you didn't have to. A great book to have on your shelf.



2. first off let me say that "option volatility & pricing" is a masterwork - an essential option trader's read.
   
   but natenberg's latest is a very lightweight volume with little insight for most traders. there is some basic discussion of volatility definitions. however there is not really anything resembling a "trading strategy" discussed in the book unless you consider "buy low, sell high" as a strategy.
   
   to be fair, n. offers no pretense of uncovering any secret strategy for market success. his goal seems to be imparting an understanding of how volatility is the key concept to grasp for determining option prices. he does a nice job of distinguishing between various perspectives on volatility (historical vs. future vs. forecast vs. implied) but ultimately fails to discuss how any of these variables can be incorporated into a trading framework.
   
   at best, the book points readers to look at option prices and values in terms of volatility (again "buy underpriced vol, sell overpriced vol") but leaves it to the reader to make the decision on what is a decent price to pay. this is not much different from saying "your guess is as good as mine." if that's the case (and in many ways i actually believe this to be true), it really makes no difference if you incorporate sophisticated volatility modeling into your trading or just throw darts.
   
   no in depth discussion of commonly experienced trading puzzles like skew, surface, anomalies between expiration periods, and so on. just simple, not-at-all-mathmatical, layman's overview of probability and statistics. many on-line discussion groups offer far more in-depth treatment of volatility trading and it's quirks for free. if you understand "option volatility & pricing" no need to supplement your library with this (even though i've just listed my copy for sale).



3. What little is there is good but the book appears to end as soon as it begins to appear useful. It's difficult to figure out for whom the book is intended: Too lightweight for those actually trading options, and too complicated for beginners. A real disappointment considering the reputation of the author!



4. Compared to his first book, this one is a joke and makes you wonder whether Natenberg did write it himself. It was way to basic and brief for a serious vol trader and too involved for a beginner. I went through the book in 30 minutes and was extremely disappointed. The book has less than 100 pages of real content, not to mention large font size and double space. A good chunk was spent on talking about very basic concept of expected value and normal distribution. I hope anyone who is interested in trading option would know such things by heart. And the book ends very abruptly. In short, the technical content of the book is thin, not worth $20.



5. Congratulations for the delivery service! It was realy very fast, good! Book in very good conditions , like new. The only problem was the book content, I didn't like. Too simple. It's like an introduction for a begginer level student.

5 comments about The Four Biggest Mistakes in Option Trading, 2nd Edition (Trade Secrets).

1. Experienced traders should already know what's in this book, but those new to options trading would probably benefit from reading this book early in their careers. The first chapter, on implied volatility, is very good and Kaeppel, unlike a lot of other authors, gives you an objective method for making judgments about relative implied volatilities, which can help you shape your trading decision. Prose is easily digestible and Kaeppel slams home his points. A quick read.



2. This book is a joke. It should've been a pamphlet, because the pages could've been reduced to 30 pages-tops. The 4 mistakes can be found in any basic principles of investing in stocks, futures, funds, etc.



3. I had heard about this book, but did not read it until recently. A "MUST" for all new traders. It covers mistakes made by all - stocks, options, index, futures, currency, etc. Well worth the "investment."



4. This small, quick read drastically changed the way I view options trading. Most of my knowledge about options has been obtained from an academic background - courses about hedging and quantitative arbitrage. I always knew that options could be a powerful tool for directional speculation, but my attempts to master it were always defeated by culprits such as time decay.
   
   It was refreshing to see that this author recognizes that the academic view of options is flawed thanks to commissions and liquidity. He writes from the perspective of a speculator. After reading this short guide, I learned that as a speculator I was committing these Four Big Mistakes of option trading.
   
   The Four Biggest Mistakes recognizes that the real market behaves much differently than the theories presented in academic class. It covers four distortions in the real market not typically taught by academia:
   
   1. Option volatility fluctuates, causing the option price to act totally out of relation with the underlying stock price
   2. Lower Deltas also mean that the option is less likely to be in-the-money at expiration
   3. Complex quant strategies are not fullproof; each complex strategy has a downfall
   4. Quant arbitrage strategies typically do not work because of a finite bid/ask price (less-than-perfect liquidity)
   
   These real-market distortions cause people to misunderstand how options work in reality and consistently suffer losses. To understand these mistakes, the book is concisely written in a format presenting 1) the mistake 2) why it causes losses, and 3) how to avoid the mistake.
   
   This is the most practical guide to options trading I have ever read. It is explained in clear language, short, and will help you become a better speculator. I recommend it if you want a realistic view of the options market.



5. This is a short easy-to-read book that contains an awful lot of valuable material for its thin size. It explains why the vast majority of options traders lose money over the long-term (despite occasional big wins), and it explains what you need to know in order to even your odds. I highly recommend this book of you are thinking about getting into options trading, or if you are a beginning options trader who wants to do better.
   
   There is big money to be made in options, but only if you are know what you are doing. This book can help you by showing you how to figure out which options have a greater probability of being profitable.

2 comments about Starting Out in Futures Trading.

1. For the price this is a great book to learn and help understand the specifics that make up all the basics in trading commodity-futures. After reading this book, I felt as if I had taken a formal college course on the subject of Futures and understood it much better from various angles now. There's no "hype" in the book, no agendas, no further products or services to buy being pitched to you, just plain vanilla (ok, french vanilla) basics being laid out for you in textbook fashion for you to digest in your own terms. I like that - it's refreshing in a way. It is probably like this because it was really written 20+ years ago (don't worry, it's been revised many times to be modernized - 5th edition, 1993). The book was originally written and printed in "Commodities" magazine as a popular mini-course series (before the magazine changed it's name to the modern "Futures" magazine we know it as today). Even though I knew much of the content from personal experience (the most costly way) or from other readings, my CTA, etc, I did not always understand the "why" behind the rules I was following & how the markets work the way they do from both a technical and fundmental perspective (dynamics). Of the some 28 chapters, I really took interest in almost every one. I can't say that about most of the other trading books I've read. Put it this way... if I could keep only 5 trading books, this would be one of them. You'll likely dump more than that on the commissions for 1 trade - or, worse yet, even more than that on 1 bad trade. ** Beginners, I recommend the following: If your goal is to have deeper pockets from trading - then you must first go deeper in your understanding of futures markets & trading them (i.e. Read the book).



2. Please note: This review refers to the 1991 edition.
   
   It is a good book, but this edition is plagued with typos, and mistakes in at least one chart. Don't make the same mistake I did; buy the last edition (I bought mine on the store with very little time ...) I haven't had the chance to check out the latest version (Starting Out in Futures Trading), my guess is that it's corrected and updated.
   
   About his writing, I like the fact that he mixes personal experience with academic and corporate studies about the market. I think the book becomes very useful that way.

5 comments about Technical Traders Guide to Computer Analysis of the Futures Markets.

1. This book is nothing special. I really disagree with the author's interpretation of the ADX indicator. Absolute level is far more important than slope. The day trading systems shown will lead you to the poor house in no time. Presents some novel ideas though.



2. I know Charles Lebeau. He does occasional system seminars with my father Dr. Van K. Tharp one of the "Market Wizards" and author of Trade Your Way to Financial Freedom. Charles Lebeau is a great trader. When anyone ask me about a technical indicators book this is the one. Charles is very through. He noticed the best traders in the industry are usually right 30% to 40% of the time. They just cut their losses short and have these huge winners. Charles tested most of the major indicators against random entry i.e. (Flipping a coin) most of them don't do any better. Your exits, psychology, and money management determine if you are making money or not. Don't pay too much attention to your entry. This book explains his results and how to use each indicator. Almost any indicator will work with proper money management. I done well even with flipping a coin and the right stop. The indicator best for you is one you feel comfortable with and will stick with. BUY THIS BOOK and hopefully what I wrote may make some sence to you.



3. I only discoverd this pretty old book recently. I am suprised to find there are quite a lot of trading tips. What make this book stands out of the crowd is the tips were very concrete and practical. The discussions about exit and stop loss are parcticular good. Many other books just said cut the loses quick. How quick? When? This book gives you some hints. The authors also give some tricks in using indicators which I hope I could know earlier.



4. This book gets a 4 stars rating because of its expensive price (the book is only 220 pages and full of empty spaces). But, price is always subjective. You may treat it as the cost of your education.

   Anyway, what makes this book so very valuable is the fact that it is easy to read, clear, definitive, and yes it has so many valuable information on what parameters to use for each indicator. How many of you left confused on what parameters should be used? This book will definitely clear away the clouds in your mind.

   LeBeau has done extensive research on indicators such as ADX and his insights on other popular indicators are extremely valuable.

   The title may be slightly misleading because bulk of the contents is explaining each technical indicator (120 pages), while only 45 pages on explaining how to build a trading system. Yet, it is clear and concise.

   The final Chapter is also valuable. It deals with 12 Day Trading systems that the author has selectively chosen out of all day trading ideas he has or has received from other great traders.




5. This book is a must read for Trading System Developers. The concepts can be applied to many markets. The section on testing alone is worth the price of the book.
   
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