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F**O
Like most beginning traders
This book is pure genius, which I arbitrarily define as the author’s uncanny ability to find eminently workable ideas while searching for that elusive profit-making needle in the vast haystack called stock market trading. Like most beginning traders, I was afflicted with irrational exuberance when I first jumped into the world of day trading, buoyed by promises of untold wealth by the marketing hype that is prevalent in this medium. I read dozens of books, watched loads of videos, joined a paid chat room, subscribed to strategy-scanning services, thoroughly convinced that the quantity of material absorbed during the learning process would incrementally build up my portfolio.Well, it hasn’t - not yet anyway. The core lesson I learned in reading this book was that the quantity and complexity of learning material absorbed has no direct bearing on one’s success in day trading. To the contrary, the inevitable clutter from having so many theories and studies and strategies in one’s head only causes one to be initially bewitched, then eventually bothered and bewildered, and leave one in a state of mental paralysis.This book offers a refreshing change to that scenario. The trading methodology taught is so simple that most day traders, even the most jaded ones, would overlook it - yet it is right there in plain sight - stunning in its simplicity. I won’t give away the store, but the trading pattern being taught is very meticulously laid out in almost excruciating detail, minute-by-minute: do this, then that, after which do this, etc. , thus well-deserving of its descriptive title - the one-hour trade. It is mechanical to some degree, but it has built-in risk management features, which, when coupled with a healthy dose of common sense, will go a long way in enhancing your portfolio while preserving precious trading capital. Knowing when to enter and when to exit is the cornerstone of effective day trading, and this book tells you how to do exactly that. It goes with the caveat that precise timing is the key success factor in day trading, and once you develop that sense of timing by being in sync with the market, the techniques taught in this book will most assuredly enhance your chances of success. I eagerly look forward to reading the author’s next book in the series.
A**R
A simple setup for day trading but not an extensive guide about trading, however sometimes less is more
I consider that the simplicity of one hour trading is one of the aspects more important on this book, I've been day trading now for about two years and I can say that one serious flaw in all us traders is the lack of a plan with an edge, you keep jumping from one thing to another with no systematic approach. With the years I have learned this and sometimes less is more, and Brian uses this simple one hour approach in explaining a simple method setup with some simple filters so you can straight up and stick to an advantageous setup. There is no holy grail on trading, only discipline, methodology and some edge in the markets so result may vary regarding your discipline and the opportunities on the market.But If you control your risk and limit your trades (and most importantly know when to retire when your daily/weekly stop is reached, -yes you need to set one-) I consider that this setup has the potential of giving you good risk reward set up and converge to gains.And now what this book is not, is not an extensive guide to learn technical analysis (Brian warns that he'll try to do a quick intro and I think is ok), if you want a more integral book to learn the bread and butter of trading and indicators, trends, supports, resistance, stop-loss concept, risk and money management, I would consider something more like Dr. Elder's Trading for Living, Come into my Trading Book. This book is more oriented for day traders that want to try one simple quick to execute trade (less than an hour on average) and again less is more some times. Brian even hosts a free chat room where he uses the scanner he talks about in his book to call the possible stocks that present a good chance to breakout with a good Risk Reward setup everyday. If you are already a trader and want to learn a new pattern fast and simple to execute for less price than a regular lunch try it, I've been even motivated to research a bit on using the scanner on my trading platform, and for me this was a plus that I can extend to other day trade strategies
D**I
Good book for a new and experienced traders
If you are new to trading, there are technicalities to it that you will need to get familiar with. This book has the technical information to get you started. If you are an experienced trader like me looking to learn to find and execute your own trades and not follow others, this is the books that will help you learn trading. There is much more to trading than there is in this book but those skills takes time in the trenches to develop. This book will help you with the basic and important skills you need to get started. The ones who posted bad reviews are probably not willing to grasp the technical aspects and the realities of trading. The truth is trading takes effort and discipline and is not a get rich fast scheme. I benefited from this book and I hope others give this book the chance it deserves. The key to learning is to be humble and absorb what is being taught. Dig deeper than what is in this book after you have read it and got an understanding for the strategies that are in this book. This book will be a part of my trading reference materials that I will be referring to frequently.