In this 268 page hardcover book Dr. John Wang, the creator of the award winning, best selling market trading system called AbleTrend, discloses many of the secrets behind his award winning system. The book, however, is not a duplicate presentation of the proprietary information provided in expensive seminars given by Dr. Wang.
What you do get from the book is a scientific, objective way to define market trends. The old saying that the trend is your friend is no less true today than the day it was first uttered, probably by an ancient Japanese or Chinese rice trader many centuries ago. As elementary as it may seem identifying a trend early on is not so simple, neither is pinpointing with any degree of accuracy the point at which a trend ends.
however, this information is basic for your trading success because the trend determines which side of the market you should be on, long or short, where buy/sell and stop loss prices should be sent, the location of sustain and resistance prices, and finally the amount of risk you should objectively be willing to accept on any trade.
Trend examination is further complicated because individual traders function in many different time frames. A day trader looking to scalp a few points or pips has an thoroughly different perspective on the trend than somebody adjusting their 401(k) portfolio for retirement in 10 years. The principles presented in the book have a universal application to any market and to any time frame making them equally appropriate for the scalper and the investor.
Many readers also enjoy Dr. Wang’s telling of the philosophy inner his successful trading method. Discipline and rational risk management are as basic to your success as a trader than any computer algorithm. His philosophy is deftly woven into the inner principles of the AbleTrend trading system so already a novice trader can see how sustain and resistance and stop loss points do not have to be haphazard or emotional.
Some readers have criticized the book because it smacks of an infomercial for the AbleTrend software package. I speculate that may be more of an expression of disappointment that Dr. Wang’s proprietary trading software algorithms were not laid out for all to see and copy.
If you are looking for a trading book to add to your library that can provide you with learned insights into how to objectively clarify the beginning and end of a trend in stocks, commodities, foreign currencies, ETFs, e-minis, and mutual funds then you would most likely assistance from this book.