Topics Covered:

* Basic Technical Analysis

* Advantages Of Being A Private Trader and how to use these as strengths

* Tools Needed To Be A Private Trader

* Understanding Charts and Different Types

* Trading with the trend

* Protecting Profit and managing risk

Review

This was Daryl Guppy's first book (as far as I can tell) and it was written with the editorial assistance of Dr Alexander Elder, a highly respected technicall analyst from the United States. The book is a best seller I believe because it is easy to read and puts the market and technical analysis within the grasp of everyday people. This is not to say he makes the market sound overyly easy.

The book is fairly basic and has been written as a guide for people new to the markets and trading in general. This is not to say the information given can not be used profitably, because it can be. One of Daryls's strengths is to make the market and analysis of it as simple as it can be.

The first part of the book discusses tha advantages and disavantages of being a private trader. This allows a private trader to look out for some pitfalls as well as allowing them to plan to their strengths. The first part of the book dispels alot of myths that people carry with them in to trading and explains the difference between how a private trader needs to trade as oppoed to trying to trade the same as the institutions.The book also covers the required to be a trader (eg software and information) and discusses the blue chip stocks as well as how to set benchmarks for your trading.

From Part II onwards the book starts to look more in to the specifics of trading with technical analysis starting with information on why many traders trade with the trend. The book covers many areas within trading, and as such covers very little in depth. Instead the book covers the most important areas of trading and puts them together so that people can see how all the aspects of trading tie in. The book demonstrates that trading is not about just choosing which share to buy.

While the book is simple, I would highly recommend it to anyone new to trading or the stockmarket. For any one who has already read a number of books, they may find it interesting to see how Daryl ties things together in this book, but I would suggest if you already have an understanding of technical analysis and the market then maybe some of his other books,, such as trading tactics or beeter trading may be more beneficial.

Rating