It uses a popular technical indicator, confirmed by price action, to signal trades (using EOD charts). When the price is above a widely followed daily moving average only long trades are taken, and vice versa for short trades. Exits are determined by trailing stops. Key to the workings of the system is the selection of tradeables with the right "personality" - i.e. those exhibiting smooth trends. The package includes watchlists of UK & US stocks which fall into this category.
Experienced traders, familiar with TA, will gain little or nothing from this e-book. It would be most useful to those with little or no experience, as it is commendably easy & simple to understand & follow, with a reasonable money management strategy, and it`s cheap! So far I`ve only backtested it visually on past charts, but it appears to be a sound method for EOD swing trading.
Good morning Derek,
yes I have read it and I'd go along with Tradertim's post just before yours, sums it up nicely.
No i'm not using the strategy as shown in the book, but if you are just starting it is not a bad place to start from, there's a web site as well, with more advice etc.
Hope this helps
Did you ever get around reading the book and did it work for you?
My origional review for the book was as follows...
"This is a contemporary, actually used and ready to trade system, clearly explained and illustrated, ready to use straight out of the box. Simple; no waffle, no messing. "
Unfortunately, it happened to be for a plagiarised version of the book sold by someone else as their own work. Having discovered this, I thought it only fair to cut and paste my amazon review here instead !
David Graeme-smith's book is after all, still going, and seems to have a supported forum site and software to support it, so it is probably worth a go if you are new and want some help in getting to grips with a trading system as part of your learning curve. ( if a newbie, just realise that it is not any particular polished system that will help you, only yourself and your experience, but that you will just have to go through what the rest of us have, to really get it ! ).