The Master Swing Trader: Tools and Techniques to Profit from Outstanding Short-Term Trading Opportunities
$19.75
| Author(s) | |
|---|---|
| Pages |
323 |
| Format |
|
| Published Date |
2000 |
The Master Swing Trader explains how traders can use technical analysis, charting, and market sentiment to make trades that hold through price fluctuations and noise with wider stops.
Introduction:
This book describes an original trading methodology that relies heavily on classic technical analysis and pattern interpretation. It offers dozens of specific trading strategies and setups that include reward, risk, and stop loss considerations. It presents concrete tips, concepts, and workflows for readers to make informed choices at all stages of short-term trading development.
It looks specifically at brokers, execution styles, and stock characteristics to offer advice on how to match personal lifestyle with trade management. Readers will note a highly original market view throughout the text that offers the journeyman trader extensive support on the road to consistent performance. Enthusiasts at all levels of experience will appreciate this books broad content and trading strategies. But it does assume knowledge of basic market mechanics and technical analysis. Take the time to build a core understanding of the financial world before attempting to absorb this text.
Professional traders and other market insiders will find this book of great value for expanding their skills and improving their bottom line. And market timers will discover that technical analysis still has fresh ideas to offer after several centuries of noble service. What does swing trading really describe in our modern markets? For decades, this expression referred to a futures market strategy that held positions from 1-3 days in order to capitalize on cyclical swings in buying and selling behavior.
This classic concept now describes any execution method that avoids the hyperactivity of day trading. But this generic definition narrows the utility of this powerful art. In reality, swing trading characterizes a time frame-independent strategy that executes single, direct price movement. In this era of massive market liquidity, the swing trader may find excellent opportunities on both 5-minute and weekly charts.
The swing trader should read this book. But so should the day trader. And lets not leave out the position trader or technically-oriented investor. Day traders can discover short-term tactics that don’t rely on scalping or frantic news releases. Mutual fund holders can improve their timing with these classic principles and swing their investments into a higher return. Is it unusual for one trading concept to have such broad applications? Not when that view includes all of the price patterns that markets can draw.
Contents:
- TRADING THE PATTERN CYCLE
- PREPARING FOR THE MARKET DAY
- ANALYZING THE MARKET
- BUILDING A SWING TRADING STRATEGY
- MASTERING THE TOOLS
- UNDERSTANDING TIME
- MASTERING THE SETUP
- DIP TRIP
- COILED SPRING
- FINGER FINDER
- HOLE-IN-THE-WALL
- POWER SPIKE
- BEAR HUG
- 3rd WATCH
- PRECISE TRADE EXECUTION
- THIRTY RULES FOR THE MASTER SING TRADER
The Master Swing Trader: Tools and Techniques to Profit from Outstanding Short-Term Trading Opportunities By Alan Farley PDF
19 reviews for The Master Swing Trader: Tools and Techniques to Profit from Outstanding Short-Term Trading Opportunities
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Miley Ochoa (verified owner) –
Many other reviews have already commented on the high quality of the substance of Farley’s wonderful book, THE MASTER SWING TRADER. I will confine my praise to his ultra-clear writing style. Rarely have I encountered a book so well-written! Great work, Mr. Farley. Few authors know how to write in such clear, easy-to-understand language.
Winston Adkins (verified owner) –
What I like the most about this book is the writing style of Alan Farley. Every sentence reflects the true spirit of market and it’s participants.
You may not like this book if you’re some one who thinks trading has to be complex, and looking for all those “hi-fi” indicators, which in my opinion are nothing but a distraction that completely takes your attention away from the price-action, the most important piece of information on a chart.
Yo will perceive the true sense of this book once you come to the dawn of awakening that complicated technical analysis would not give you that trading “edge” you’re searching for.
Ledger Eaton (verified owner) –
I’ve read a number of books on working the stock market and this one is at the top. Alan gives you the basics and then walks you through enough examples to make the information relevant. Going through the examples also helps one remember the contents better. One actually starts at the beginning and goes all the way through intermediate to advanced.
Shelby Maynard (verified owner) –
This book really helped me to prepare myself for trading. Teaching me what a disciplned trader should and should not do. When to enter a trade and why one may decided not to trade. Resist the temptation to jump without studying. Study the markets…
Esmeralda McGuire (verified owner) –
Both this and the Workbook are scrumptious books indeed, completely honest stuff, no friggen fluff, could not put either of them down from the word go. These books are ideally suited for people who really really like to think, whats doing out there in that big bad hell pot called “the market” churning ad infinatum, and how to take advantage of it without getting chopped into sliced patty cake. This is a thinking man’s book for an aggressive heart. Some pages you will have work through several times before you “c” the “diabolical” reality of what he’s condescending to explain. Its a blessed lovely thinking man’s book — that in no way skimps out on the hard work necessary to turn the drudgery of discipline and precision into a working man’s art. Spoon feeding for “weak hands” this book aint. But if you’ve read “the Doctor” and are ready to dip your mentality into some solid rue, and are wanting and willing to work to learn how to skin them pink potatoes. I highly recommend it.
Natalie Melendez (verified owner) –
Given that the focus of this book is on intermediate trading patterns (the space between day traders and buy/hold investors), I willingly ignored the negative reviews, because I was hopeful that this book would fill a void in my trading education; unfortunately, the reviews pointing to poor writing style were spot on. This book suffers and is ultimately brought down by incredibly bad writing and by Farley using his own terminology in place of commonly accepted terminology.
This isn’t just a subjective assessment, as there are objective rules of grammar that this book repeatedly violates, and the common terminology has been common for years (there’s no reason to make up your own terms for something that already exists and is widespread.). For example, take these two sentences: “But quickly recognize when volume falls and bars contract. Then focus to classic swing trading tactics and use price boundaries to fade the short-shift direction.” Yes, those are two unedited sentences from the book. The first appears to be a warning – watch out for contracting volume and declining price. The second appears to be a recommendation that once the warning signal is generated, traders should look for price patterns, but then it becomes unclear what the author is recommending. Is he saying use stop losses? Is he saying use trading bands? What is a “short-shrift direction?
Obviously, both of these sentences suffer from being incomplete, which is not unique to these two and instead plagues the entire text. This proprietary terminology and poor writing makes it difficult to read the text, because you are left having to go to outside sources to find a translation for his proprietary terminology (again these are for common terms, not something he came up with), and, with the incredibly poor grammar, you often have to read the sentences over and over to make sense of them – both of which eat unnecessarily up time.
Time is money, and both your time and your money are better spent elsewhere.
Amanda Christian (verified owner) –
This book contains a wealth of great information for technical traders who swing or position trade. My sense is that it is best suited for those who have a good deal of trading experience to draw on.
Dexter Gomez (verified owner) –
Excellent
Myles Bonilla (verified owner) –
The book is trying to explain some simple idea through big and involved words. I have read more than 50 trading books, but this is the first one that I find I even can not finish one chapter. I just can not get what he is trying to tell me….
Frida Wilkinson (verified owner) –
Folks criticizing this book don’t seem to understand that momentum and volume will vary from endpoint to endpoint, and manifestation to manifestation. And of course, specifically, those trendlines that are built upon non-empirical data may emerge from flat or stormy seas, and yet both will float your boat. The unwise trader complains about the snoring, but the wise one gets up out of bed, makes the trade and paints the tape. The only exception that anyone has seen and/or not heard, are those who stand on the edge of the abyss, dare to peep inside and hence find their character and great wealth, at that, verily. Blue Horseshoe loves Anacott Steel. Yet, to not judge a book by its cover is vastly superior to not knowing and hence not judging it by its content — within a range of absolute uncertainty — which is all too familiar to the non-novice trader, or for the trader who would be non-novice, but yet not in the most binary of all truths. Hey, isn’t it better to make money than not? I’ll let you be the judge of that! For rich or poor, it’s great to have money, especially plastic money. Who would argue with this? Remarkably and regardless, what you perceive is always based upon the constructs of your own peculiar belief system and setup, hence nearly all the chart’s data will be found within 3 deviations of the axis throughout all the exchanges, be they favorable or inclement, friend of foe. You quip at the barnseller dangling non-sequiturs, yet you yourself are equally and exponentially riding the very same dragon that brought so much feast and famine to the poor mainlanders, longshoremen, your tired and weary masses, and others who both did and did not have this system. ;0
Nikolas Osborne (verified owner) –
Extremely good book for stocks —- not so much for futures. There is a LOT of information in this book (probably not a good book for beginners).
Annabella Moreno (verified owner) –
I was put off from buying this book until a very respected trader recommended it to me. I took a leap of faith and got this book.
To start with majority of reviewers out here dont get it. This is NOT A TECHNICAL ANALYSIS BOOK. If you want to study technical analysis read John Murphy.
This book is a TRADING STRATEGY BOOK.
So how is this different from technical analysis ?
well you could say it is application of technical analysis . The author explains the niches, how to strategize your trades, what to look for. Basically a trading methodology. It is not a rigid one. You have to make your own using the principals described in this book.
This is the practical handbook that every trader should have . Read this one after you are through with technical analysis
Landry Fitzpatrick (verified owner) –
This is a remarkable book. I learned so much. The flashy book cover makes it look like it’s some run-of-the-mill trading book for newbies, but it isn’t. It’s quite big and dense and it goes quite deep. This book really teaches you a ton on how to read a chart.
Why so many bad reviews? Here is the thing: This book assumes quite a bit of prior knowledge. So if you don’t know already candlesticks, trendlines, chart patterns, indicators and quite a bit of other stuff, then this will be a very frustrating read.
This book is a tome, and every single page is packed to the brim with information. Every single sentence teaches you something. I think I have learned more about Bollinger Bands in the few pages that he writes about it than anywhere else. If you lack prior knowledge it’s all very difficult to appreciate, because it all blurs together into a huge mess.
But if you are ready, this book is worth it’s weight in gold. You need to read slowly, think about it, underline, make notes, re-read, and most important of all: take what he writes seriously and at face value. Look at many many charts to see the dynamics play out that he describes in order to gain confidence that the book is not just a bunch of bla bla. From what I can tell, most of the dynamics that he talks seem to be really there, I have just always overlooked them because the market is very subtle and multi-dimensional.
Leonard Bates (verified owner) –
I’m sure the author is a genius, but I couldn’t make heads or tails out of this wordy, confusing tome.
Conrad Vincent (verified owner) –
When support and resistance areas on a chart are described as, “battle scarred areas where the shadows of emotion remain,” you know you are reading a wordy trading book.
The author is knowledgeable, but his writing style is too verbose and theatrical.
Emelia McCall (verified owner) –
Love this book I help me look at my trading differently
Allyson Shaffer (verified owner) –
This is the best trading book I’ve read so far. You’ll want to know basic terminology and concepts before reading it or it won’t make sense. Not for absolute beginners. Tons of good info.
Kiaan Blackburn (verified owner) –
As a young trader who has been tempted to seek the short road to riches……. I knew prior to this read that anything worth doing is worth doing poorly at first. Trading is no different. Trading offers freedom and a life style that allows a mna or woman to avoid the mundane world of an 8 to 5 job. While I work longer hours as a trader they are hours of joy and excitement as I try to decode the process that is always changing. Farley give his readers a “decoder ring” that includes detailed explanation of proper usage of indicators.
To those who have taken time to become aware of the long journey they have begun…. this book will offer some very nice surprises that can be used almost instantly to improve results
To those seeking a dollar lottery ticket and a sure 6 number winner do not wast your funds.
Pages 260 thru the next seven chapters to page 423 Offer detailed explanations on trade strategies with set ups
1. How to buy the dip
2. Coiled spring offfers ways to better anticpate the intense moves up that we all try to find “just before”
3. Finger Finders offers an new way of examining candle formations that I found fantastic
4. Gaps called holes in the wall are examined and offers a fresh expression on a successful process.
I loved it from beginning to end…. Now its not exciting but the knowledge is well worth its costs.
Casey Blake (verified owner) –
This book may be useful for people who have some familiarity with swing trading. It is fairly verbose and provides a lot of generalizations before getting into the specifics. The author comes up with his own terminology for things that have already been standardized and accepted. For example, “3rd watch” instead of cup-with-handle or triple top. He also describes a number of more risky set-ups that most beginners should avoid. It was an interesting read, and I did learn from the book. But, as previously stated, it is not for beginners.