Proven techniques to improve market-timing accuracy Written by internationally recognized trader, author, and researcher Jake Bernstein, Momentum Stock Selection details a method of combining market momentum with innovative risk management to dramatically increase profitable opportunities for both short- and long-term traders. After briefly defining market timing and market momentum, Bernstein heads directly to the heart of the bookhow any trader can use momentum to increase tra…
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With respect to this book, I do agree that
1) momentum is a very important trading concept whilst MACD is a very useful oscillator type indicator to identify overbought and oversold situations, and thus change of s/t trend, a TA tool which helps traders not to buy high sell low, especially in a day trading environment.
2)the author had written a very easy reading book in a very friendly and understandable way.
However, I can hardly agree that:-
1) the author presented momentum as a surefire weapon in the highly volatile market and can be used alone
2) the author did keep it simple, but it’s too simple all the way throughout the 180+ page content. He should go from simple concept to complicated application, and teach readers how to improve its accuracy with simultaneous usage of stochastics or RSI or…In fact, there are many examples/charts illustrated by the author which showed extended period of divergence with very unfavorable price moment that might have already kicked an investor out of his position, in case he/she did not have a strong conviction on his/her position but by sheer reliance on MACD.
As a professional trader, I cant recommend this book to anybody. The quality of this is far below the author’s own classic “Investment Quotient” which the author’s strength (trading behavioral psychology) rests solidly upon.
As a stock trader your homework is all about studying and testing different market strategies that will help you take advantage of stocks and at the same time protect your gains.
Just always keep in mind that an effective trading strategy is simple and practical. Teaching your self to depend on to many technical and confusing indicators can make you slow in your decision making process or confuse you from the start.
The momentum approach showcased on this book covers bascially technical analysis. The stock market is always presenting us momentum opportunities that dont have anything to do with TA at all. Breakout opportunities occur every day. The trick is to know how to find them fast and approach them successfuly.
There are very good sites on the web where you can access momentum trading strategies that are far more practical to implement. One of those sites is Momentum Stock Trading ( MomentumStockTrading com)
In the end, momentum day trading is all about picking the best stock opportunities and following your buy and sell signals with ease and simplicity. Once you learn to master your momentum trading decisions, you can aspire to produce consistent profitable results.
4.0 out of 5 stars
Very usefull and easy to read
This book offers a simple but robust method of trading on stockmarkets. The presence of many many (sometimes too many) charts makes it possible to read on the beach, not just…
3.0 out of 5 stars
just a good read, but not the best trading book
this is a good book and well written. very easy to read and understand.however, it comes across as too simple.
I enjoy how this book offers a highly robust, yet simple trading system, applicable to any market. I have used the Momentum Moving Average approach with great success. I have noticed that it often forecasts majors rallies and drops in a timely fashion. Apply these methods to your trading and you will see the profits!
3.0 out of 5 stars
Only Divergence available?
The prevailing main idea from this book is Divergence, especially Momentum Divergence with Price. I understand this means you should pick up the stock forming Divergence from…
5.0 out of 5 stars
A Knock Out! Authoratative, Clear and Concise
Jake Bernstein’s new book is a major winner. His Momentum Stock Selection Strategy, and related variations, are quite simple to understand and implement and are really top notch…