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Mastering the Trade: Proven Techniques for Profiting from Intraday and Swing Trading Setups
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Mastering the Trade: Proven Techniques for Profiting from Intraday and Swing Trading Setups

3.78  ·  Rating Details ·  243 Ratings  ·  10 Reviews
There are more than five million active traders in the United States. John Carter is a popular speaker at Trader's Expo and other industry events, and a regular contributor to publications, including SFO magazine. This title features techniques for mastering the 5 key traits of professional traders.
Hardcover, 406 pages
Published December 7th 2005 by McGraw-Hill Companies
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Paul DeBusschere
Jan 03, 2012 Paul DeBusschere rated it did not like it
Also known as "The Day Trader's Guide to Losing Money." Carter actually states near the beginning of the book, "You will blow up your account." And it is no secret as to why.

If one follows the idiotic methods outlined in this joke of a trading book, Carter's prophetic statement will be fulfilled quickly. My "favorite" method was the one where Carter is expounding on going long or short if the three-minute bars are up or down three times in a row, respectively. If one looks closely at the exampl
Liz Dean
Sep 28, 2012 Liz Dean rated it did not like it
I would like to steer people away from this book. He is going to try to sell you indicators from his website. Indicators do not make you successful in trading.
I read this book a while ago, but received a spam email from his website this morningshowing how he made 70,000(or so) in 5 weeks. It prompted me to write this.

Every trader is looking for the "holy grail". The author of this book knows it and has put together some good information wrapped in a sales pitch. This book will not unlock all t
Jan 23, 2008 Jim rated it liked it
An important study for day traders. I learned several new techniques that professional traders use on a daily basis. Understanding how the pros approach support/resistance levels allows the small day trader to anticipate and profit from the intraday movements around pivot points and fibinocci numbers.
Jeff Serbin
Sep 19, 2016 Jeff Serbin rated it it was amazing
I see a lot of negativity in the reviews. I think this is an excellent book. One thing to remember is this book was written in 2005, since then the markets have changed a lot and not all of the strategies can be used the same. In this book he talks about many strategies that he has used over the years and shows how they set up in charts. Does that mean you can just copy it? No, it isn't that easy. As far as his website and the availability of his paid indicators. If you don't want them, then ...more
Martin Odhelius
I can't really recommend this to anybody. To begin with, the chapters about setups very often refer to indicators that can only be bought from the author's website, and without even explaining how these really works (ie. "An A wave measures the trend of the prior six or so bars [...] (this is my best guess, as Rodney [the guy who helped the author to program the indicator] won't tell me the specifics)", yes, this is indeed a quote from the actual book!). These cheap tricks feels extremely ...more
Parshant Panwar
Aug 07, 2015 Parshant Panwar rated it it was ok
Book is less about mastering the trade and more about why you should buy john carter's package on his website to learn. seriously why should one bother reading it if you can't learn anything other than web address. it's full of website links.
Enrique Arroyave
Apr 26, 2011 Enrique Arroyave rated it liked it
Great book that offers insight into proper expectations of the market and trading for a living. Setups shown not necessarily all that great, at least not in this current market.
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“If a husband expresses a thought alone in the middle of the woods,” so the joke goes, “is he still wrong?” Probably so.” 0 likes
“And I’m not kidding when I say “craziness.” The University of St. Gallen, Switzerland, has come out with a study that compares traders with psychopaths. The study reviewed the results from an existing study comparing 24 psychopaths in German high-security hospitals with a control group of 27 “normal” people. The funny thing is, this control group of “normal” people turned out to be traders. Stock guys, currency and commodity traders, and derivative types happened to be the normal control group that was stacked up against the high-security, barbed-wire-enclosed psychopaths. In the end, the performance of the trading group was actually worse than that of the psychopaths. The study indicated that traders, “Have a penchant for immense destruction,” and that their mindset would lead them to the logical conclusion of “beating one of the neighbor’s expensive cars with a baseball bat with the sole objective of owning the most beautiful car in the neighborhood.” In other words, traders are nuts. Indeed if you look up the textbook definition of a psychopath, here are some of the tidbits you’ll uncover: antisocial behavior, poor judgment and failure to learn from experience, inability to see oneself as others do, inexplicable impulsiveness … sounds like a typical trader who is struggling against the market and can’t figure out why.” 0 likes
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