In this 268-page book, Dr. John Wang, the creator of the award-winning market trading system, known as AbleTrend, reveals many secrets behind his award-winning system. The book, however, is not a duplicate presentation of property information provided at the expensive seminars provided by Dr. Wang.
What you get from the book is a scientific and objective method Determine market trends . The old saying that this trend is your friend is no less valid today than the day it was pronounced for the first time, perhaps by an old Chinese or Japanese rice trader centuries ago. Since setting a trend early may seem very simple, it is not easy to determine which degree of accuracy is the point at which the trend ends.
However, this information is essential to your success in trading because the trend determines which side you should be in the market, whether long or short, where buy / sell prices and stop losses should be sent, location of support and resistance prices, and finally the amount of risk that should be Objectively ready to accept it on any trade.
Trend analysis is more complicated because individual traders operate in many different time frames. The daily trader looking for a scalp or a few pips has a completely different view of direction than that someone modifies their 401 (k) portfolio for retirement in 10 years. The principles mentioned in the book are universal in any market and in any time frame, which makes them equally appropriate for the operator and investor.
Many readers also enjoy telling Dr. Wang the philosophy behind the successful trading method. Discipline and logical risk management are critical to your success as a trader of any computer algorithm. His philosophy is skillfully embodied in the fundamental principles of the AbleTrend trading system, so even a beginner trader can see how the support, resistance and stop loss points should not be arbitrary or emotional.
Some readers criticized the book for slapping the infomercial of the AbleTrend software package. I suspect this might be an expression of disappointment because Dr. Wang's trading program algorithms are not offered for all to see and copy.
If you are looking for a trading book to add to your library that can provide you with insights on how to objectively determine the start and end trend of stocks, commodities, foreign currencies, exchange-traded funds, electronic funds, and mutual funds, you will likely benefit from this book.