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Ross, Ross, You don't have to worry about offending me. Not much
does. I don't think the Krutsinger books are particularly great.
However, when it comes to trading books my recommendation is to read
them all. The reason I say that is you never know what you're going
to get out of one of them. Sometimes it's only a chapter or a few
sentences that wake you up to something you hadn't thought about. I
often re-read many of my trading books a year or so after I've read
them to begin with. I think I've picked up something worthwhile
everytime I've re-read one of them.
I've read so many, I can say that before I buy one, at least 98% of
the material in it will be nothing new. However, I just finished
reading three that came in last week, and I've already found enough
small stuff in them that I think my trading results are going to
improve by a couple of percent. That might not seem like much but I
can make a very excellent living from only an 8% return a year, so 2%
is a big number.
I've spent many thousands of dollars on books and other educational
material, and I've made many, many times that from what I've learned.
When you read the reviews on Amazon, you'll see one guy say a book is
the greatest trading book he ever read, and another one will say it
was terrible. I don't pay attention to the Amazon reviews because no
one writing the review knows what's going to help me improve my
returns. In fact, 99% of the people writing reviews on Amazon
couldn't trade quarters with the grandmothers.
I've got trading books that are literally 50 years old and the charts
are all in pencil and hand written tables. I've learned some
interesting things from those books too. You just never know.
I read a lot of history on the market also and on individual traders.
A lot of people who follow Gann or Elliot know litte or nothing about
who these people were, but they spends thousands of dollars and many
thousands of hours trying to master techniques from someone who could
have been a psycho for all they know. Amazing!
Anyway, I don't write book reviews because of what I said. No one
knows what someone else's cup of tea is going to be. I will say that
some authors like Chande, LeBeau, Kaufman and Stridsman do a better
job than others.
Have fun!
--- In Metastockusers@xxxxxxxxxxxxxxx, "jawjahtek" <jawjahtek@xxxx>
wrote:
>
> Superfragilist,
>
> Please do not take offence at the following comment; I value your
> opinions and you have made excellent contributions to this board.
>
> Please tell me which Joe Krutsinger book (or article) you believe
is
> worth reading. I purchased "The Trading Systems Toolkit: How to
> Build, Test and Apply Money-Making Stock and Futures Trading
> Systems", and I used to be active on the Omega Trading bulletin
board
> which Joe frequents using the pseudonym "Omega Man". I felt that
the
> main book of his that he recommended (above) is almost useless. And
I
> cannot understand why he feels he must hide behind a pseudonym (I
> know the Omega site is nasty with lots of flame wars. Regardless,
> most regulars on the site know he is "Omega Man" and he is
constantly
> defending Tradestation while offering to sell his services as a
> system writer).
>
> My personal recommendation: when someone has read most of the basic
> technical analysis books, the best book to read is Perry
> Kaufmann's "Trading Systems and Methods". For me, it is the best
> book I have found. Perry Kaufmann sells his services largely to
> institutional investors. I think the clientele speaks for itself.
>
>
> Ross
>
> --- In Metastockusers@xxxxxxxxxxxxxxx, "superfragalist"
> <jackolso@xxxx> wrote:
> >
> > Forget Swing trading, day trading and all the other quick money
> > rubbish. Go to amazon.com
> >
> > Look up Tushar Chande, Charles LeBeau/David Lucas, Joe Krutsinger,
> > John F Clayburg, Perry Kaufman, Thomas Stridsman, Mark Conway
> >
> > Those will get you off to a good start and you'll have read about
> 20%
> > of what you need to read to finally get a grip on this stuff.
> >
> > And then of course there's Roy's newsletter. It can't be beat.
> >
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