High Probability trading
by Marcel Link
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Book Reviews of High Probability trading
Book Review: Excellent Book
Summary: 5 Stars
This is an excellent book about trading, especially for the beginner. However, the beginner is not likely to recognize why this book is excellent versus the many books written about trading by non-traders. I highly recommend this book to anyone trying to teach themselves about the markets. If you already are a successful trader, the book may not be that helpful. If I were to teach a course in trading, I would consider using this book as one of the textbooks for the class, in part because there are very few comprehensive good books about trading. I have read the negative reviews posted on Amazon, and I don't think they are, for the most part, informed or fair. I hope the author comes out with a second edition, in part because while I think the content is excellent, the writing could be improved upon. But I'd rather have a substantively excellent book, than one of the many trading books well-written by a non-trader that is unhelpful or even misleading on the substance. "High Probability Trading" is worth the read.Book Review: How to REALLY Make Money Trading
Summary: 5 Stars
I have read over a hundred books on trading, and have done discretionary, technical, and totally-systematized trading with TradeStation, MetaStock and others, both directly and through "trader-assist" programs, for nearly 20 years. I wish I had read this book years ago---it would have saved my hundreds of thousands of dollars!
Mr. Link generously shares all his trading experiences: the techniques that have made money, and the ones that haven't; then, step-by-step, he builds a complete trading methodology for you to employ---one that, if you only stick with it, is highly likely to make you a great deal of money.
In the trading industry, there aren't very many folks who actually know what they are doing, yet are willing to truly share their knowledge with you---Charlie Wright comes to mind as one; Mr. Link is another one of those very rare and generous individuals. I am grateful to him, and once you read this book, I believe you will be too.
I whole-heartedly recommend this book!
Book Review: The only way to trade successfully
Summary: 5 Stars
The title of this book speaks volumes about what you will find inside. What the author discusses through out this book is how to make every trade give you high probable odds to make money. Trade unemotionally, don't get greedy, and don't try to make the market pay you back for past losses. Do not become arrogant and stop using a proven system. Wait for a pullback to buy a hot stock instead of buying at an all time high. Do not over trade, wait and watch for a great set up. Give trades room to develop do not set to tight of stops. Give winning trades room to run before taking profits. This book is an all in one book for successfully trading covering all the bases, technical trades, money management, risk management, and the psychological aspects of trading. No trade is a sure thing, we deal in probabilities, increase your odds by practicing what this book teaches. I highly recommend. Also read ALL of Dr. Alexander Elder's books for more specific trading principles involving your mind, method, and money management.Book Review: a 50 pg booklet in 350 pages
Summary: 2 Stars
First, let me say that the content of this book is just fine. I think the key themes presented are very true, and the author seems to have a basis of personal experience to work from. My complaints are twofold:
(1) the book rehashes the same basic points over, and over, and over, and over. I don't consider myself a particularly quick study, but I don't need to be told 20 times that it's important to have a disciplined money management approach. I think the author could've actually proposed a specific framework (or five) for money management rather than just endlessly saying that you need to cap your losses
(2) it's written in a pretty uninspired way. I like that the author is a trader who writes rather than a writer who trades, but multiple misspellings, poor grammar and sloppy sentence structure. This is the editor's problem, not the author's since I don't expect content experts to be Steinbecks
Read the book if you like, but be prepared to skim after about the first 50 pages
Book Review: Has Walked the Walk
Summary: 5 Stars
At times while reading this book, I was literally rolling with laughter. Why? Well... been there, done that. Marcel Link is no instant expert -- he learned his lessons the hard way -- and he generously shares the secrets of the ONLY system for long-term successful trading.
If you're new to trading, you can save yourself countless dollars and years of pain by studying and following this book. If you're an intermediate -- like me -- you'll get confirmation of the truths you've learned so far, and lots of information about how to take it to the next level. Even if you're an old pro, I expect you'll profit from being reminded of the fundamentals and may even learn a new trick or two.
In addition, Marcel Link is an excellent writer with superior teaching skills. This is one of the best "how to" books I've ever read in any field. That's saying a lot, because I read omniverously -- probably close to 100 books per year.
If you are serious about trading, buy this book.