High Probability Trading Strategies: Entry to Exit Tactics for the Forex, Futures, and Stock Markets
by admin / July 5th, 2010
Product Description
In High Probability Trading Strategies, author and well-known trading educator Robert Miner skillfully outlines every aspect of a practical trading plan–from entry to exit–that he has developed over the course of his distinguished twenty-plus-year career. The result is a complete approach to trading that will allow you to trade confidently in a variety of markets and time frames. Written with the serious trader in mind, this reliable resource details a proven ap… More >>
High Probability Trading Strategies: Entry to Exit Tactics for the Forex, Futures, and Stock Markets
July 5th, 2010 at 7:23 am
The author presents four very useful tools for trading stocks, commodities, or currencies. These are: two time-frame momentum indicators, Elliott waves, Fibonacci with price, and Fibonacci with time. You can use these four tools as a discretionary trading system, but the Fibonacci discussion is especially valuable in and of itself. The author has been around 20 years providing trading advice – an indication of some quality.
I appreciate that the author isn’t trying to hard sell his software and newsletter. You can apply the ideas in the book without buying anything more from the author! That is an honest touch that is appreciated.
The style of the text can be somewhat annoying at times; it is a bit repetitive and has too many comments about not-so-good advisors out there somewhere. (No need for the author to point this out unless he wants to name the offenders.) It would have been good if the author told the reader how this book compares to his earlier book “Dynamic Trading”. My take is that the current book introduces the two time-frame momentum and streamlines the other information on Elliott and Fibonacci, but it would have been useful to get this information from the author. Is the previous book superceded in his mind or does it still have value?
All positive reviewers (13 of them at the time of writing) have only reviewed this book and nothing else. Clearly the author has a fan club. Irrespective, I can really recommend this book.
I have written several short reviews on trading books. The best way is to compare the score on the books I’ve read. Many reviews on amazon.com are just glorious 5 star reviews. I use all five categories; sorry but everything isn’t “great”. Books rated 5 are very good. Books rated 4 are good solid books well worth reading. Books rated 3 can be bought by some people who read a lot or have very specific needs. Books rated 1 or 2 I would not recommend buying or reading. Naturally all in my humble opinion.
Rating: 5 / 5
July 5th, 2010 at 10:01 am
Miner is one of the few trading authors that seem to have some practical, successful trading experience. His book offers a complete trading plan from identifying the high probability trade setups for any market and any time frame right through the exit strategy. High Probability Trading Strategies is not the typical compendium of the old tried and true indicators and Fib retracements but a logical and practical approach to high probability trades with small capital exposure.
His Multiple Time Frame Momentum strategy is brilliant in its simplicity and execution. The Beyond Fib Retracements chapter shows a couple of unique strategies that help you to identify in advance which retracement level should be support or resistance. He also explains in a logical and practical way how to use simple pattern and timing strategies to identify the targets for trend reversal. Miner focuses on exit strategies as much as entry setups for a complete trading plan from entry to exit, just as the title describes.
Especially valuable is the video CD that is included with the book. I’ve had several trading books that included a CD but most of the CD material did not complement the book, let alone appear to be professionally produced. The 2 hour video CD with High Probability Trading Strategies is a valuable complement to the book material as Miner goes through several trade examples bar-by-bar. I think any trader will be very pleased with what they learn from High Probability Trading Strategies.
Rating: 5 / 5
July 5th, 2010 at 10:26 am
This book covers the complete trading strategies, from start to finish. It explains every aspect of a trading system in thorough detail. But if you don’t know anything about charts or technical analysis, this book won’t get you started. Robert runs at full pace to explain his manner of approaching trading, so don’t expect to have your hand held through it. And it seems that the reader should already have or use his Dynamic Trader software with special indicators. He does not tell you how to set or create these indicators in other trading software packages. I admit, as a beginning stock trader, that his process of looking at the markets makes a lot of sense. The accompanying CD shows several live examples which really brings his trading style into focus, compared to charts in the book. This book is for the serious trader only.
Rating: 3 / 5
July 5th, 2010 at 12:28 pm
High Probability Trading Strategies: Entry to Exit Tactics for the Forex, Futures, and Stock Markets (Wiley Trading), written by Robert C. Miner aspires to a be a guide to high probability setup. However, it quickly ends up in untestable statements, a load of untestable statements and very few insights into how and if the setups actually works over time. At best, it is unscientific, at worst it is probably a rip-off.
It relies on dual indicators that have to align themselves in certain ways in order to be a predictable, profitable setup. Most of them are momentum, Fibonacci numbers or oversold / overbought indicators. However, yet again they are mostly urban myths rather than testable statements.
The book is written in a style that somehow indicates that Robert has too little to say and needs to fill out his text with a language that is fluffy and sometimes digress into topics that hardly has something with the short term trading approach, such as bashing other trading instructors or newsletters.
This one is probably not one for the shelf… regret that I spent the money on the book.
Rating: 1 / 5
July 5th, 2010 at 12:50 pm
On his latest book, Mr. Miner teaches four great strategies that help a trader to improve his or her skills. He follows a non-sense approach, helping the student to develop “high probability trade strategies for any market, any time-frame.” The book develops a complete step by step trading plan that begins with defining rules for “dual time-frame momentum setups” using stochastic and relative strength index indicators. The next strategy focuses on pattern recognition for trends and corrections based on Elliot Waves. The third strategy uses Fibonacci’s retracements and corrections to project price targets for any trade. The fourth strategy uses Fibonacci’s time retracements and corrections to improve the probable outcome of a trade.
Each strategy complements the next one and helps to “identify conditions with a high probability outcome to consider a trade.” All four strategies together help to develop a trading plan that includes entry and exit strategies and trade management.
Robert’s teaching can be used with almost any trading software. The book’s approach to trading (and teaching) is practical and to the point and by following the methodologies explained on the book, a trader could be able to improve his or her trading skills. The book has a video CD with some trade examples that helps to understand the process.
The “High Probability Trading Strategies” book is a book that should be on every trader’s library. It is not difficult to read, but the reader must spend time learning and practicing each strategy. It is not the Holy Grail for trading but it would help a trader to find high probability trades that might work. The book complements previous works by Robert Miner.
Rating: 5 / 5