[easyazon-link asin=”0470594594″][/easyazon-link]By way of full disclosure, I received a free copy of Corey Rosenbloom’s new bookÂ [easyazon-link asin=”0470594594″]The Complete Trading Course[/easyazon-link] from WileyÂ at the author’s behest. Wiley is also my ownÂ publisher and Corey is a personal contact of mine. Oh, and he also lists me in the acknowledgements to the book. That was more for sharing my perspective as an author and commiserating on thingsÂ than for any direct contribution to the text, however. This is the first time I’ve actually seen the book, so this review is coming from the perspective of a fresh impression. Corey, by the way, is an active blogger at AfraidtoTrade.com and contributed to my New Trader FAQs book.
Perhaps aÂ more accurateÂ title for this book would have been The Complete Technical Trading Course. That is what we’re talking about here – a front-to-back approach to applying technical analysis to trading. This is not, however, a survey book that attempts to walk the reader through all the various sorts of technical methods and techniques. The author, instead, focuses on the tools he actually uses in his own market analysis and trading.
The book starts off talking about trends, both in terms of defining them and in terms of identifying them. It then progresses into the subject of momentum, and that is followed by a chapter focused on market phases. All of this lays the groundwork for the second part of the book where it gets into strategies and tools. These include candlestick charting, price pattern analysis, Fibonaccis, and Elliott Wave techniques. The final section of the book focuses on trade set-ups and strategy execution.
It should be noted that this is NOT a trading system book. It’s about analyzing the markets and identifying good set-ups. If you’re looking for something mechanical you’ll want to look elsewhere.Â Also, the author is very much a stock market oriented trader, and that is reflected in the text. This doesn’t mean the methods and concepts are not applicable to other markets, however.
Overall, I’d say this is the exact sort of book I’d recommend to thoseÂ readers of The Essentials of Trading who were interested in seeing how technical analysis can be applied in trading. It’s well structured and loaded with examples. I have a personal pet peeve with the standard internal formatting of Wiley Trading books, but that’s not the fault of the author and it doesn’t really detract from the messageÂ or lessons. Oh, and the bibliography is huge!
Bottom line: If you want a nitty gritty detail-oriented book on how to apply technical analysis techniques and methods, [easyazon-link asin=”0470594594″]The Complete Trading Course[/easyazon-link] fits the bill quite nicely.
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