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brownsfan019

Trading Full Circle: The Complete Underground Trader System For Timing and Profiting

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The review lost my attention when it indicated that the book was based on the sameO, sameO.

 

"Yu illustrates how to combine the best chart patterns with candlesticks, Bollinger bands, stochastics"

 

Candlesticks, Bollinger Bands, Stochastics - Interesting, Hardly, New, Not, State of the art, not even near. Breakthrough, LOL. Worth $150, not.

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Going along with what Urma said, I stumbled upon some interesting statistics regarding candlesticks. Using k-means clustering of various candles, some (unexpected?) statistics can be calculated about the biases of each cluster (candle type, in this case).

 

Intelligent Trading: Quantitative Candlestick Pattern Recognition (HMM, Baum Welch, and all that)

 

tl;dr: "bull hammer" type candles are most commonly followed by bear WRB's using the QQQQ sample set that the author used.

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  UrmaBlume said:
The review lost my attention when it indicated that the book was based on the sameO, sameO.

 

"Yu illustrates how to combine the best chart patterns with candlesticks, Bollinger bands, stochastics"

 

Candlesticks, Bollinger Bands, Stochastics - Interesting, Hardly, New, Not, State of the art, not even near. Breakthrough, LOL. Worth $150, not.

 

Agreed.

 

I bet it has a chapter on Money Management, and another on the importance of psychology.

 

I'm gunna write a book one day, and it will be called 'How To Make Money Trading'. It will be about 4-6 pages and not have a single chart - well maybe one or two.

 

The 4-6 pages will just be about 1 aspect of trading - position management.

 

I will sell it for $5,000 - about the price of a basic retail account. I think my price will hit the sweet spot. Although it may seem expensive at $1k per page, the probability is that any newbie will lose his $5k without reading my book. What I'm selling therefore is more time. Years in fact. Anyone want to save a few years staring in a screen for $5k?

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Like the above haven't read this one. But do remember many years ago subscribing to his service back in the days where you could daytrade the spreads - bid/ask on stocks. The good 'ol days when stock daytrading was easy. At that time he was very successful but obviously that whole strategy was wiped out with the changes.

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  MadMarketScientist said:
Like the above haven't read this one. But do remember many years ago subscribing to his service back in the days where you could daytrade the spreads - bid/ask on stocks. The good 'ol days when stock daytrading was easy. At that time he was very successful but obviously that whole strategy was wiped out with the changes.

 

 

Wow! Were you one of the original SOES bandits? That would make you part of trading history legends.

 

That was real trading back then; a definable edge with reason and logic that you could write out on a piece of paper and easily teach others to do - just like being on the floor. Trading round support/resistance just doesn't have that does it? Although we all do it, most of it is in the eye of the beholder.

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  TheDude said:
Wow! Were you one of the original SOES bandits? That would make you part of trading history legends.

 

.

 

I think underground trader was post SOES bandits, may be wrong about that it was all a long time ago :)

 

I have one of his earlier books (it has secrets in the title....that should be a warning) nothing remarkable in it that I can remember. I'm somewhat sceptical about Mr Yu to be honest.

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