Four Steps to Trading Success: Using Everyday Indicators to Achieve Extraordinary Profits

by John F. Clayburg

Book Overview

Die technische Analyse, d.h. das Lesen von Preis- und Volumen-Charts zur Erkennung von Handelschancen, gehört schon lange zur Grundausstattung jedes Händlers. Noch lange bevor Computer den Gro teil der Analysearbeit übernahmen, haben Händer Trends, Muster und insbesondere Indikatoren untersucht, mit deren Hilfe sie bestimmen können, wann man in einen Markt ein- bzw. aus einem Markt aussteigen sollte, um maximale Gewinne zu erzielen. Autor John Clayburg,...

• Format: Hardcover
• Language: English
• ISBN: 0471414824
• ISBN13: 9780471414827
• Release Date: June 2001
• Publisher: Wiley
• Length: 320 Pages
• Weight: 1.35 lbs.
• Dimensions: 1.1" x 6.3" x 9.3"

Customer Reviews

Can't you read the signs?

This book is the best I've read out of 20 since Janurary 1st.Mr.Clayburgh starts you out with the very basics, (you might say training wheels) and stays along side of you to the very end. ... Chapter 8 explains the most important concepts you must throughly understand to be successful with his system. Absolutely no guesswork! I think he has raised the standard in writing about trading systems. I gladly await any new material he delivers in the future!

Topnotch Trading Book

Mr.Clayburg has written a very imformative and helpfulbook.His "Daily Directional Indicator" is something I've never seen before and is quite unique.I have read numerousbooks on trading and not one of them has ever touchedon a "trading tool" such as this.Chapter 10 is worth the priceof the book alone and possibly much more.I intend to use this daily indicator in my own trading from now on to give mea daily directional bias. I reccomend this book to all aspiring traders.

Very useful and well worth the price

...Well, first of all, this book reveals a method of trading using only market-generated information - price action - no other input, including volume,is needed. No forecasts, no guesses, no hocus-pocus mystery talk... Secondly, I like the fact that he concentrates on producing high probability trades. I like to win - that's why I trade. ...BR> Thirdly, after reading his book, I honestly believe that I can use and successfully adapt my $.../Mo ... Basic subscription to building John's indicators into that online charting service so that I can profitably trade those Rydex index funds...I don't need the more expensive charting packages.<br> Fourthly, I believe him to be a man of integrity - this is of absolute importance to me. I believe this because (1) he is willing to share an eminently successful, crystal-clear, and<br>easy-to-implement trading strategy with the public, (2) his book not only includes examples of successful trades, but also trades that have not been successful, just like in real life (3) he goes<br>out of his way to ensure the reader's understanding of the concepts by clear and error-free text reference to charts, clear accurate definitions, appropriate examples, and repetition of past trading technics, and, finally (4) he has arranged his book to have all the necessary textbooklike qualities...including chapter reviews and an index (the "Putting It All Together" chapter is outstanding!) so as to ensure that his readers have every opportunity to learn. Let me say, considering the multitude of overpriced investment books I've bought in which I've found most of that structure lacking, I very much appreciated both the quality and clarity of John's writing throughout the entire book.<br> I am very happy with the book...I give it my highest recommendation.

The way trading books should be written

There are now many trading books available in the market. The quality of these books varies immensely. This whole book really only explains one trading plan- to be used in a short time frame, ie. daytrading. The four steps, in short, are descriptions of the rationale and steps used to enter an exit a market. Many other books will also offer the same. What is unusual and laudable however, is the depth of research that the author had undertaken in order to justify why his apparently logical approach may be used in the timeframe he suggests to make money. Exemplary is the pages upon pages of data on the directional day filter. Few books I know even come close to matching this degree of scholarly depth. The author himself notes that few people will trade using his indicators the same way. What this book allows, when combined with one's own research, however, is sensible and rationale debate of the merits or not of any particular approach, tested objectively, in a way few other books offer. For example, is the `personality of markets' approach, a form of curve fitting optimization? Is using a chart based support and resistance technique for entry really the best way? Most successful traders will already have their own set trading plan- and probably have their own ` four step' process. However, one may have reservations or even disagree completely with the author's approach to trading, and yet cannot fail to be impressed by the outstanding quality of this work.

A Well-Described Logical Approach to Trading

John Clayburg has produced a well written book that would be a valuable addition to the library of any serious trader. Although the book is directed primarily to intraday trading, his basic concepts are appropriate for all styles of trading. His method of always defining the major trend and never trading against that trend may seem fundamental, but it is a lesson that most traders (including me) have learned the hard and expensive way. The author provides a systematic approach which keeps the trader on the right side of the major trend while providing specific techniques for entry and exit. His entry methodology invloves defining exhaustion of minor pullbacks against the major trend and defining short term support and resistance levels. By requiring these support/resistance levels to be broken prior to entry, many bad trades are avoided. The book is also well illustrated with numerous example charts. If you are trading or planning to trade, you can save yourself some money by reading this book.