Most Helpful Customer Reviews
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2 of 2 people found the following review helpful:
2.0 out of 5 stars
An out-of-date book with some useful ideas., 6 Nov 1998
By A Customer
I returned this book primarily because it is fairly dated, given the technical advances in electronic trading since the publication date of 1993. I am a fairly active trader and have an earned doctorate in physics; Mr. Eng's discussions of Chaos, Entropy and Randomness left me with the suspicion that scientific buzzwords are employed to justify the empirical ideas of chart analysis. Friedfertig and West's 1998 book, The Electronic Day Trader, is a far more useful and current title.
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2 of 2 people found the following review helpful:
5.0 out of 5 stars
One of the best books on successful trading I've read, 7 Sep 1998
By A Customer
I'm an advanced trader and only bought this book because a very good friend who is a retiring physician suggested I do so. The book is written in three separate parts. The first part discusses the theory of day trading. The second goes into the details of applying current strategies. The third, and this is where the meat is, takes about 14 trading examples and applies the thinking process of how to trade to actual markets. This book goes far beyond what most other "how to" books on market trading is all about. The other books I've read goes and tells the intricate details of what techniques and how to use them. What Eng does in this book, and other books, is to tell how to use the techniques to make money. This is what I am, as a trader trying to make money, looking for. I don't want to know that a 7 day moving average is better than a 13 day moving average. I just want to know how to make money. Eng tells me how to do so without bogging me down with useless details. I hate to say it (and I wonder what readers of this will say) but most books on trading is really "masturbation of the mind." All play and no substance. Here, Eng gets down to the details: it's all in the management of the trade, once you have it on. This is what Eng writes about: manage, manage, manage. The last part, where the successful trades turn to profits, is where he guides me through the successful management of the trade. I think most beginning traders will find this book to be too advanced because it concentrates on how to make money and it doesn't concentrate on how to make the reader a proficient technical analyst. Take it from me, I've spent years learning about moving averages. It's only when I figured out that I had to do something to make the trade profitable that I started to really make a lot of money. Eng might be too far ahead of the curve for the rest of the readers to figure out. I've read some of Eng's works and he does go into tremendous details in his other books. In this one he does token explanation and focuses on the management of the trade. As far as I know there are no books out there by other writers that concentrate on the real money-making aspect of trading. I spent years learning the details, but in this one book Eng makes it very succinct: it doesn't matter what techniques you use, just use them, and then successfully manage that trade to money!! In my library this book is highly ranked.
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1 of 1 people found the following review helpful:
1.0 out of 5 stars
Too much Theory, 27 Jun 1999
By A Customer
I was looking for "How To" Day trading book. Reading this book was torture. I felt Mr. Eng was trying harder to impress upon the reader his vast knowledge of the theory of economics, rather than teaching one how to day trade. I admit, I couldn't force myself to read the whole book. By the time I finished part two, feeling I'd gained nothing out of those 186 awful pages, I moved on to more exciting authors.
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