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Mastering the Trade (McGraw-Hill Trader's Edge)
By John F. Carter




Book Description:

 

Expert tactics to become make the most of every swing trade

In Mastering the Trade, veteran trader and educator John Carter shares his hard-won five-point technique for successful swing trading. In addition, Carter helps you move to the next level of confidence by explaining how markets really work and detailing behind-the-scenes market mechanics.

 




Summary: Still waiting
Rating: 1

I would be glad to review this but I have never receivedit. I was told it was sent after a few weeks told that although it was shown as shipped, it really wasn't.



Summary: Made $30,000 in one month with options through john's strategies
Rating: 5

Pros: I have finally found a book that helped me make money. I've read many books, attended numerous seminars, and signed up for courses but none of them have really helped md make money. Over the last 3 years of trading I've lost $30,000 but made it all back in one month by apply his strategies to my options trading. And the daily pivots really help me with my trading. He offers a lot of examples too. If you've traded for several years and have not made money, READ this book.

Cons: too much information about futures trading. That stuff went over my head.



Summary: Easy reading but Flawed
Rating: 2

I bought this book because of rave 5 star review. After reading through most of the major sections, I've decided to back test one of his idea. Chapter six is about Opening Gap trading and author claims to be a high percentage trade. First, I analyze S&P and realized profit factor and % of winning is not impressive at all. Maybe it does work on DJ. I tried DJ and it also fails what the author suggested. While there are some good theories, but I think the author has not backtested it - another cherry picking case studies. Also, I check the examples used in the book. The data/charts used by author seemed to be very different from what I am using (Pinnacle data). Don't just plug-and-play this one.



Summary: Some usefull information but also a lot of fluff
Rating: 2

I purchased this book after a very careful review of the contents and reading several online reviews. While there was a little bit of information that I found useful, it wasn't enough to justify the price of this purchase. You can read most of what this book tries to teach for free in about 4-5 minutes if you know the right websites to visit.



Summary: Its the most honest and real thing to trading that you can get
Rating: 5

I practically read through all the reviews (was a bit bored) and felt obliged to do justice and give answers to some of the reviewers who felt that this book was not their cup of tea, as well as give future readers what to expect.
First of all, if you've been trading like me, then you'll find this very useful for intra day and swing. Either way the author describes clearly as to how he approaches each trade and provides the charts to prove it. Sure not everything is a 100% guarantee but JC has a 6% failure rate and this is mostly through discipline as well. In order to make money, you have to first suffer and pay the tuition fee just like anything else, the same goes for trading. If you're not willing to take the risk, then you won't make any money. This book has helped improve my discipline and approach towards trading.
Secondly, he does make money and he is rich but you have to remember that diversifying is important and he's just making a new business from book writing and his online websites. I feel the prices charged are fair and he does provide free videos if you'd like to test them. For the videos, it will sometimes show him doing live trades but mostly how he goes analyzing the current market trends. Really informational and good.
Thirdly, the trading techniques and strategies provided are very detailed and helpful to the trader starting out, veterans, and maybe the pro's. Everyone has their own favourites and style so obviously there are a few I don't pick myself.
Overall, if you really trade or are interested in trading, I'd recommend this book and check his website too. You won't get anyone more bluntly honest about his trading and life.