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Review
—Clive Corcoran, Publisher and editor, TradeWithForm.com
Author, Long/Short Market Dynamics
Pension fund manager and commentator on CNBC′s European Closing Bell
"Deron Wagner has written an excellent book, backed up by solid research and informative examples. This is one of the most illuminating works on exchange–traded funds written in recent years. His incisive commentary on position sizing alone is worth the cost of the book."
—Alan Farley, Publisher and editor, HardRightEdge.com
Author, The Master Swing Trader
"Deron Wagner has written a terrific book on ETFs based on his extensive experience as a trader. He provides numerous insights and examples of his successful trading style. This is truly a must–read book for anyone who trades or is thinking of trading this fascinating investment product."
—Michael Sincere, Author, Understanding Options and Understanding Stocks
"Having traded the ETF markets since their infancy, Deron Wagner offers the reader a voice of true experience. In this book, he describes an analysis structure that has withstood the test of time. Investors looking for an edge in the ETF marketplace need look no further!"
—Bo Yoder, Trader and risk management consultant
Founder, BoYoder.com
"With ETFs now available for the broadest market indexes to the most focused of sectors, Deron’s new book on ETFs is a must–read for investors and traders wanting to simplify the choice of which ETFs to trade and how to trade them."
—Greg Capra, President and CEO, Pristine.com
Product Description
exchange traded funds (etfs), index-tracking funds listed on an exchange, have seen an astronomical increase in recent years - within the past year alone, total assets in us etfs jumped 41% to nearly us$500bn. the etf 'basket' of funds was created as a way for investors to combine the potentially high returns of individual stock trading while still receiving the diversification benefits of mutual funds.
unlike most books on etfs, the strategies in this book are based on technical analysis - the only way, in the author's experience, to have a greater than 50:50 chance of predicting the short- and intermediate-term trends of etfs. it covers the many different types and families of etfs, including the new sector-specific etfs and bond etfs.
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Customer Reviews
He describes his approach as being a "top down strategy". His first step is to determine the direction of the broad market trend; then, once the trend is determined, he finds those indexes that have the most relative strength or weakness compared to the major indexes; then he selects the strongest ETFs within those indexes (or weakest if going short); then he looks at volume for confirmation; and finally he uses one or more of several techniques to properly time the new entry into the selected ETF.
The one thing that I liked most about Mr. Wagner's book was his use of clean and simple charts. He uses almost exclusively only two and sometimes three moving averages, draws simple trendlines and areas of support and resistance, and shows volume levels and averages. He does not "goop' his charts up with additonal indicators such as MACD-Histograms, slow stochastics, and RSI. While these indicators are certainly very useful to many traders, Wagner's plain, simple approach of looking only at price action and volume confirmation has a lot to be said for it.
Risk management and position sizing are touched upon only briefly but adequately and his comments about using trailing stops are most enlightening.
The two chapters describing case studies of 10 ETF's bought long and 10 ETFs sold short are most useful in illustrating the use of Mr. Wagner's various setups.
I have read Trading ETFs only once now but I am already looking forward to going through it again a second and third time. It is the type of book that you can only absorb only so much the first time around but pick even more pearls of wisdom on subsequent readings.
Needless to say, I recommend Mr. Wagner's newest book highly.
1. How to choose a trade. The book presents a top-down strategy based on relative strength, which is a very reliable indicator.
2. When to enter a trade. The book shows you how to enter on either pull back or breakout.
3. When to exit a trade. The book shows you how to exit a winning trade, as well as losing trade.
4. Position size. The book shows you how to calculate the position size based on volatility of the ETF so that the maximum risk of each trade is the same.
Armed by what I've learned from this book, I hope I am on the way to trading with consistent profit.
- good information on ETF's
- a trading strategy backed up by explanations and examples - charts with winning and losing trades
Cons
- not very well laid out, important information is concealed within the body of the book, I would have liked a more clear and concise approach.
- lacked some explanations of the basic principles;
- the chart examples are not always easy to follow.
All in all this book could have been much better simply with better layout and better formatted illustations. I think I will need to re-read it with a highlighter pen and some post-its
The content is good and the cons should not preclude you from buying the book if you are interested in trading ETFs be it on a day, swing or position basis.
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