Street Smarts: High Probability Short Term Trading Strategies
Author: Laurence A. Connors, Linda Bradford Raschke
List Price: $175.00
Our Price: Click to see the latest and low price
ISBN: 0965046109
Publisher: M. Gordon Publishing Group (01 January, 1996)
Sales Rank: 68,346
Average Customer Rating: 3.42 out of 5
Customer Reviews
Rating: 1 out of 5
Overpriced to impress beginners
This ridiculously expensive book (booklet?), mostly outdated and primitive-looking charts with oversized text and plenty of useless appendices to fill more pages contains a collection of multi-day (aka "swing" trading) entry and exit recipes that are claimed by the authors to work well not only with futures --as most charts in the book are from futures-- but intraday and with stocks. You can find formulaic trading recipes and advice like this here and there and in other books without having to pay [item price]. When you learn how to trade, you will find that no one needs any magical recipes to go in or out of trades and that in the end anything works as well as anything else if you know how to do it appropriately. But if they told you this, you wouldn't buy the book. Each chapter contains a small description of a trading recipe and a set of ilustrations of the recipe, each one filling a whole page with three sentences and a chart that looks like it was taken from a snapshot of a computer screen in the early 1980's. Then, at the end of the charts sections, there are a few comments in dialog form.
Linda Raschke's comments on some of the magic formulas are more interesting and more believable than Connors'. She claims to be a daily scalper in the futures markets. Some of the materials in her old Web site were interesting too, though she seems to be spending a lot of time working the trading fair educational circuit. Is she making a great deal of money trading all of these finger-counting strategies, entering after 20 bars here and there and puting a stop just above yesterday's high when the ADX is under 20% and the S&P are in an inside day combining historical volatility with Tony Crabel's NR7, etc, etc, or does she need to supplement her income teaching seminars for $1500 an evening? As for the other author, the real "advanced" strategy Larry Connors knows well is how to make money out of the miriads of hopeful wannabes that overpay for his expensive books and for his TradingMarkets.com web site, which costs more than a thousand dollars per year and is just a hook to get the members to buy more overpriced "trading services", $5,000.00 tutorials, "ultimate" courses, fantastic techniques, videotapes, etc., etc. Just think of this before you dish out your money to this guy: if he knew any "advanced" trading strategies to make real money he wouldn't be peddling his overpriced merchandise for a living. Wouldn't it be nicer to live as a rich trader, trading from your yatch your great advanced strategies for millions, instead of busting your rear running a Web site in downtown LA to trap yet another fool who thinks that perhaps this new advisory service will "make him" money? Let Connors first show that he can make millions trading before he calls his strategies "advanced". Obviously, they are just not advanced enough to make him rich --though he will be soon, if you pay him [item price] for this mostly charts collection of unfocused advice. If you still feel you have to learn the basics from the popular self-appointed "gurus", do it at least with a minimal expense.
Rating: 5 out of 5
Among the Best 5 Trading Books out there...
In my daily work as a Stock Broker in Sweden I encounter questions about good trading books all the time. Customers feel that most trading books are quite expensive, and a good way to avoid overpriced, worthless items is by asking an experienced professional.While I truly do not feel that the mystery of the markets can be revealed in a book, I can honestly say that this book is well worth its price. Above all, it gives the open-minded reader insights in highly effective approaches, concepts of trading which I have used successfully for many years. In fact, strikingly similar methods to the methods in this book have been "discovered" and used by investors, brokers, and traders that I know, even before this book was published. In my mind, this is another good indication that many of the patterns presented are valid in real-life trading.
While I do not use the patterns in this book in the exact same manner as they are presented, the concepts and the insights are the same. Time spent studying these concepts will be time well spent. I consider Street Smarts to be among the best trading books I've read, and I certainly feel that it is the best book out there concerning Swing Trading. It contains no hype, just precise and sound swing trading techniques. I recommend it highly to all market participants, novices and professionals alike.
Some of the other books that I consider to be among the best are:
Market Wizards 1 & 2, Reminiscences of a Stock Operator, Trading Systems and Methods, How to make money in Stocks, Technical Analysis of the Financial Markets, Investment Secrets of a Hedge Fund Manager, Japanese Candlestick Charting Techniques, Secrets of Profiting in Bull and Bear Markets, Technical Analysis of Stock Trends, Trading by the Book, Exceptional Trading.
Of the hundreds of trading books I have in my personal library and the thousands which I have access to in my professional life, Street Smarts still remains a personal favourite.
I rank it as one of the 5 best books on trading I have ever read...
Rating: 5 out of 5
Best Trading Book Ever!
This book is seriously the best trading book I ever read. I've owned it for 5 years, and I still use it for reference. The strategies worked in the go-go 90's when an idiot could trade profitably and the strategies worked in the horrible bear market of 2000-2003. Good stuff. Well worth the price. You get what you pay for. I've yet to find a $30 trading book where I was able to use any of the information to trade profitably. Similar Products
Connors On Advanced Trading Strategies
Professional Stock Trading: System Design and Automation
High Probability trading
Come Into My Trading Room: A Complete Guide to Trading
The Master Swing Trader: Tools and Techniques to Profit from Outstanding Short-Term Trading Opportunities
Book Index