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An interesting twist on fibo expansions or "measured moves": Mr Crane's book is well written and practical. If you enjoy charting you'll like just practicing with the Andrew's pitchfork and reaction lines. However, the main faults with the methods he mentioned are that the rules are too rigid to be accurate the majority of times, and the prospective use of the methods is quite a bit harder than the retrospective use. The author mentions in his intro that he stumbled on a "repetitive, predictable pattern" that was the basis for his method. I believe that this was basically the "measured move," or the 100% extension of A-B-C swings. His charting technique with Andrew's pitchfork tries to predict this, but it is excessively complicated and only accounts for 100% measured moves. In my opinion, a fibo extension tool is far easier to use and allows traders to see the 61% and the 161% extensions as well as the 100%, which are just as useful. The time element of counting days, I think, is even more unreliable in practice. But, then again some measured moves are symmetric in time and price, so occasionally they work. Bottom line, an interesting book, but not one that will likely have a very high predictive value.
a good idea but not a good system, needs more improving: It can't be a good trading system since market can't be predicted precisely. How can you define a swing or a hard mid term drawdown? or even to know the trend is over. No body knows. Nevertheless, he offers a very good idea to help trader how to predicate the market behavior. It is still worthy to study, but can't work as a trading system. It's too rigid to trade with this system.
Are you for real ?????????????: Wow it is sooooo obvious that all thease reviews were submitted by the same person!! i bought this book, this is one of the worst books ever about trading (i have read alllllot of books) it seems if the author hired a 4yr old and asked him to make a trading method. The method that he talks about can be obtained on any trading forum for free. As for the method it self it is not worth the price of the book at ALL!!! and most trader's even if your new to trading probably allready know it.If your looking for a profitable method look elsewhere.
Waste of money!: Without doubt, one of the worst books on trading I've read. There are perhaps some original ideas inside but none that is worthy to note. All I could see were charts, praises, and voodoo like things. Yes sure, the author has made some effort to discuss a few concepts, but I cannot see him justifying the same with test reports on how profitable they are/were. A lot of hype with little real content.
utter rubbish: Utter rubbish IMHO. I am not anti technical analysis as I trade from price action and volume cues but this book seems to be a compendium of lines drawn on charts after the fact. I threw it away.
| Author: | John Crane | | Author: | Marketplace Books | | Binding: | Hardcover | | Dewey Decimal Number: | 332.645 | | EAN: | 9780471462569 | | ISBN: | 047146256X | | Number Of Pages: | 217 | | Publication Date: | 2003-09-29 |
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