Bests & Worsts Reviews from Amazon

Writing this review goes against my visceral feelings. After reading this book, I have an almost overwhelming desire to be subjective. But, keeping that in check, these are my objective evaluations. Ever been to one those free seminars that promise to teach you how to become a millionaire in your spare time? I have not, but I do know that they don't teach you anything. They are a prelude for an expensive course that promises to teach you how to become a millionaire in your spare time. Which of course it doesn't, but that's because you didn't focus hard enough. This is like the seminar, except that it is not free and there is no follow-up course. After reading this book the only thing you will know about trend trading is what you knew when you started (actually more likely less). This book is pure salesmanship, pretending to teach you about trend trading, when all it does is give a sales pitch that trends are the thing. Most of its contents are glowing reports of the success of the writer's friends, who oddly happen to be the same people who wrote the endorsements in the book description. And, to give it objectivity, it throws in personal attacks on W. Buffett and "value investing", but who, it is disclosed, is actually a trend trader, or not, depending upon which paragraph you read. The book contains not one useful idea about trading trends. Worse, it is dramatically self-contradictory: Never get greedy, no one can predict the market tops, versus the secret of success is letting your winning positions ride. Always let your winning positions ride versus be sure to use stop loss orders to prevent reversals. Well how do you account for interim fluctuations, the variability that is a natural part of trends. Not a word, just be sure to watch for them, know when to get out, and let your winning positions ride, but use stop orders. Diversification puts you in a better position to hit the big one versus diversification means that your portfolio will trend toward the mean and that is death, go for the outliers. Money management is key to staying in the game [which assumes that you are losing] versus greater rewards come from greater risks. Now, assume that you, like me, already believe that there is some economic merit to trend trading, what does it teach you about how its done? Nada, nothing, zilch. Not a glimmer of how to spot a trend; not a word how and when to get out of a position; how to account for variability in placing stop loss orders; what constitutes a trend; how do you factor in the various types of risk? Simple, let the numbers be your guide. Could we have just one chapter to give a clue to which numbers and how to let them guide us? No. Reading this book is like paying to spend a day listening to a used car salesman try to sell you a clunker. If you want to learn how to be a used car salesman, this is your script. If you want to know about the car, forget it. This book is worse than useless, its a complete waste of time (and you only have so much of that). It does a disservice to the concept of trend trading: making it look like a huckster's con game. If you are looking for useful advice, look elsewhere.