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on 23 October 2011
One of my favourite books along side Elders books. Clear and concise and such an enjoyable and easy read. I am about to start it again but do wish that Mc Graw Hill would make more effort with the graph details as this is an unnecessary hurdle. Chapters on cash management and trading plans are invaluable. I disagree that this book is not for beginners...it would have helped me if i had read it early on in my trading career as it puts the usual tech. indicators into perspective for what they are ...indicators and not short term trading tools.
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on 24 August 2017
A good read and definitely teaches you a few good skills which you can execute while trading. The only issue was that some of the techniques used can only be applied on their platform.
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on 23 February 2013
This is my favourite trading book. I have a background as an equity trader and wanted to know more about additional ways of trading. In this book, John F. Carter presents a lot of actual trading setups (both short and longer term) which are easy to understand and implement. He offers guidance into money management and checklists as well as creating a trading plan. I can strongly strongly recommend this book to everyone who wants to try out trading.
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on 15 September 2015
One of the best trading books I have ever read. I am literally watching a squeeze trade on the FTSE100 make money as I type this review (UK 9am 15th Sept 2015). In fact, that one trade has more than paid for the book! If you can't find something in this book that suits your personality and lifestyle then you should not be trading.
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on 28 July 2013
This book is a must for anybody serious about learning how to trade profitably. It really is the 'bible' of trading - and the more times you go back and re-read, it the more you learn. The topics covered include, inter alia, background information as to what causes the markets to fluctuate, psychology, proven setups to use, and the importance of having a proper business plan. John Carter writes with a very refreshing honesty about his own travails when he started out and still maintains a clear affinity to new traders despite his obvious great success now. There are a great many trading books available, and most newbies make the mistake of equating the quantity that they have read with an ability to trade successfully. The brutal reality is that it is extremely difficult for a newcomer to turn a consistent profit. However, fully reading, re-reading, and rigidly implementing the relevant sections of 'Mastering the Trade' that suit your personal style will at least give you a fighting chance. Good luck.
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on 10 November 2009
This book is not for beginners. Readers are expected to be familiar with basic technical indicators, chart reading, common tradeable assets, etc. This book caters to those who have already attempted day trading or swing trading in the past but have been unable to put in the time and effort to take it to the next level.

The main part of the book deals with the author's various trading setups, where he provides the rational for why they work, step by step guides (including limit and stop tactics, entry points, preferable conditions etc) and caveats. He gives detailed examples based on real trades with charts for each setup.

He also provides guidance on how to manage risk, formalise trading rules to ensure discipline, in effect a business plan for traders.

The author writes with confidence. He sounds very experienced and his writing shows. He has a high opinion of his own talents, which may grate a little. He has no sympathy for fools and undisciplined traders. However, his unforgiving style is in line with one in his profession. After all, trading is an unforgiving profession.

I have definitely benefited from this book. I have implemented individual setups outlined in the book, with positive results in the first 3 days of trading. More time will be needed before one can be certain that the setups work. Also, I have not combined different setups, which should improve performance even further.
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on 8 September 2006
As a relatively new trader, I have a library of trading books all focusing on specific aspects of trading. MTT is as comprehensive a trading book as I have read, covering not only specific trading strategies that I have begun using in my trading, but also an excellent section on developing a business plan - an area that I've not seen covered in any trading book. Reminding ones self when you enter the trading game that it's a business that needs as much planning as any other business seems so obvious and yet is probably overlooked by the majority of aspiring traders. I refer to the book daily and would highly recommend this to both beginners and advanced traders alike.
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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.
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on 19 May 2007
John Carter is a good teacher. His book 's not only covering some of his strategies but also giving you an idea of the reason why they work [ why the markets move the way they do]. In addition to this, he gives you a business plan and a money management plan, without over optimistic forecast.

Carter is obviously not the funniest guy on earth and his book is not the easiest if you are an absolute beginner in trading. But if you take the time to study his strategies and you follow his advice, you are probably on your way to become a very good trader. His views are realistic & honnest, something rare among trading mentors & other gurus in this profession.

A recommended buy if you are committed to trading.
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on 11 April 2012
Most of the people who will read this book will simply pay it lip service before moving onto their next book, all the while looking for the 'secret' to successful trading. You only need a few books to be successful in trading, I can't say what they are because each will be as personal to the next. The real secret to trading is 'mastering yourself,' if you can't do this then you will never make a success of trading.

As long as you move from book to book you will remain in a perpetual state of motion, it is only when you stop do you begin to learn. Think of a person travelling through the City trying to get to work, it is only when they arrive at their destination do they start to become industrial, that is what their employer is paying them for. Now relate that idea to yourself and your life. You should now begin to see your 'times of industry' and the times that brought you least gain.

We can relate this further. Imagine taking the wrong train or bus to work, how will this affect your ability to be on time? Now separate each book that you have read on trading, which of those have helped your learning and those that have not. The books that have helped are the those that help you to arrive on time and those which made you late are the ones that provided least help. These are some of the exercises you can do to understand yourself, it is just the beginning of your journey.

Trading requires you to 'master yourself' due to the very nature of the work involved, this aspect should never be ignored. Good luck.
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