Top critical review
16 people found this helpful
Interesting, but a chore to get through.
on 14 December 2009
I'm afraid I found this book hard work, and not the guide to mastering the trade I had hoped it would be. Firstly, it is written in what I am starting to call 'Americanese' - it's English, but not as the English know it! Like many books from the US it is written in such a way that words are used in a different way from the common understanding of their meaning. Reading some parts of this book is like listening to the ramblings of US TV sports commentators: non-stop talking, too fast, overuse and inappropriate use of acronyms, and quite often making no sense! There are some very interesting examples and strategies, but some of them are unfathomable and suitable only to US equity markets. So, UK readers be warned.
There are plenty of good tips and advice for traders, but nothing I haven't come across in other tomes on the subject. I have tried a couple of Carter's strategies but not found them to be profitable (yet). I am not saying the strategies are no good. It is more likely that I have not been applying them correctly. It takes time to get a strategy working for the trader. For me, the very worst thing about this book is the reproduction of trade charts. More often than not, the dates referred to by the author in the text are not shown on the charts or are just not clear and the reader has to guess whereabouts on the chart the precise dates the author refers to are. Same goes for price details on the other axis. Where tick charts are shown it is often impossible to see where the opening or closing price the author refers to are. Trying to follow exactly where the author says he entered and exited trades and where crucial signal points were in the charts is really hard work, and it shouldn't be. Charts should be clear, with the dates and price points referred to in the text clearly shown on the charts.
All in all, a disappointing and unsatisfactory experience for me. The sections advising would-be traders how to go about trading are interesting, and it is good to read the advice of someone who has made a career out of trading in financial markets, but as mentioned previously the same advise can be found in many other books on trading.