Hit & Run Trading: The Short-Term Stock Traders Bible
Author: Jeff Cooper
List Price: $100.00
Our Price: Click to see the latest and low price
ISBN: 0965046125
Publisher: M. Gordon Publishing Group (01 December, 1996)
Sales Rank: 29,164
Average Customer Rating: 3.81 out of 5
Customer Reviews
Rating: 2 out of 5
Bad Results!!
I was very disappointed after reading this book and checking out the numerous strategies listed in it! All of the strategies performed bad(except one)! I checked this because I bought the software module for it which shows buy and sell signals on charts in my metastock charting software. I checked all of the buy&sell signals generated from all the strategies in this book and most of them were false signals! Sure some of the strategies performed better than the others, but in general all performed bad! I was not looking for the "Holy Grail", but was expecting some better performance from these strategies! I HAVE SEEN some good trading strategies/systems after reading this book that are really impressive and outperform ones listed in this book! There is one exception to all this Jeff's "Stepping in Front of Size Strategy". This is really an IMPRESSIVE and VERY SMART strategy! This in the only one that I have not tested myself, but am very optimistic about the results, since logically it seems that it will work. In conclusion, this book was a MAJOR disappointment and I don't recommend it!
Rating: 5 out of 5
Good!
the beautifulst book that I have never read, simple and operating sin that is outside production
Jeff thanks
Rating: 1 out of 5
Results are bad
I do not recommend this book. I went ahead and bought the book and read it. He claims it's the "trader's bible". He does provide ENTRY strategies as well as stops for these entries. He however, spends very little time saying anything useful about money management which is a very important aspect of any trading system. If this was not bad enough and you are smart enough to make your own money management scheme using his entries, you really can not do it, because he DOES NOT provide exit strategies! That is correct, he says it himself that his exits are completely discretionary (page 137). In any event, I went ahead and programmed all but two of this entry strategies (2 of them could not be done since they would require tick data and secondaries info to test them which I did not have - nor was I about to invest getting this data to test his strategies after seeing the bad results I got with the other entry strategies). Since he did not provide exit strategies, I tested several variations with each: exiting the next day at the open, exiting 2, 3, 4, 5 days after the signal. I also tested exiting randomly within the next 1 to 10 days. I did this testing to see if his entry strategies had any merit by themselves. I will not get into describing in detail the results for each. However I will say that NON of his entry strategies are worth investing in, because they make very little money if any at all. Those that did make some money made it when traded over MANY MANY trades (tested over 1500 stocks and averaged 4 trades a day). However, the statistical advantage was so little for winners that by the time you put some commission charge and some slippage (all his entries are stop based) you will definitively reduce the value of your account. Most likely you will just be feeding your brokerage house in the best case. In summary, the entry strategies I tested have no real trading benefit, he provides no money management scheme nor trade exit scheme - so it is not a trading system or strategy. He is really only selling useless entry signals. ... Using a absolute point value seems very "beginner" to me. If this guy is a professional trader and makes money, he is not using these entry signals unless his discretionary exit criteria makes up for his useless entries. I find that his entries are as useful as just entering randomly into the market place. Maybe his business is selling this expensive book to patsies such as myself. I hope you do not become the next one. Similar Products
Professional Stock Trading: System Design and Automation
The Master Swing Trader: Tools and Techniques to Profit from Outstanding Short-Term Trading Opportunities
Hit and Run Trading II: Capturing Explosive Short-Term Moves in Stocks
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