a market participant says:

–Leigh is the first person to say something new about Mark Weinstein since Jack Schwager in Market Wizards(the first one). On the internet and lexis/nexis there has been no new information about Mark Weinstein–yet he is easily one of best traders ever. But there is only a brief yet informative discussion on Weinstein in the intro of the book.
–The rest of the book discusses technical analysis: trendlines, chart patterns, oscillators, emotion… It seems to me that Leigh is not a “master” of technical analysis but the influence of Weinstein and other traders has made him balanced(there is no pie in the sky bs–no panaceas), he has some insightful points, and he discusses what really works: analogous chart patterns and divergence of price and a price oscillator. Three other points show that Leigh isn’t a dumbas#:
1. he mentions that you should continually reassess your analysis throughout the trade. CharlieD said that in his perfect speech in the book by William D. Falloon(Charlie D the story of the Legendary bond trader). It’s the only way. Leigh figured that out, too. And Leigh is conscious enough to discuss it–like CharlieD.
2. He discusses oscillators and price divergence….least one forgets Mark Weinsteins point “I am always looking for a market that is losing momentum and then go the other way.” But a divergence is only a major part…one still needs a bit more. As Tom Baldwin says “it’s involved.” Leigh points out that the chart patterns(analogs–similar patterns from the past and see how they worked out), gann, elliott, various oscillators, trendlines, and moving averages help give you a feel.
3- The psychology he talks about is basics. No deep useless theoretical bs–just emotional control of yourself is as important as a divergence of an oscillator and price.
Finally—it’s a good book. Leigh is balanced. He’s not a wacko. He’s obviosly learned something. GOOD WORK LEIGH!
p.s. what leigh said about weinstein: he was looking to start a driving school. weinstein only traded every now and then. he’s hardcore…”intense.” weinstein would call leigh up just a tad after the market had made a turning point and tell leigh the low or high would stick. weinstein took fat index option positions when he did trade…………
other stuff…something cool i figured out is to plot a moving average crossover system(2 averages) or a swing point system(or any simple system)…and look at the equity line of trading that system. make sure the system is always in the market. then plot oscillators of the equity line[rather than use the close or median point of the price bar use the equity line--it works in tradestation: x1= i_openequity; x2=average(x1,5)-average(x1,35); plot1(x2,"equity oscillator");]. the divergences from the equity oscillator and the equity line will then show where “smooth periods” and “extended moves” will occur. This is the ONLY way to trade a mechanical system. you also need to use price oscillators to see where the extended move is going to go. the last thing is praying the Rosary helps with emotional control. it just works.
Rating: 4 / 5

Vampa says:

I unfortunately purchased this book on the strength of the review in the MTA newsletter Technically Speaking. I found absolutely nothing of value, and nothing to indicate to me that the author was qualified to comment on the subject. The quality of the printing leaves much to be desired, almost as though Wiley did this one “on the cheap”. If you’ve bought it, give your copy to someone you hate, and it will at least accomplish something.
Rating: 1 / 5