Guide to Swing Trading Review
Review of The Definitive Guide to Swing Trading
When I first saw the title of this e-book, I thought, "Wait a minute! This website is the definitive guide to swing trading!".
and then I thought...
"What could this guy (his name is Kevin) tell me about swing trading that I don't already know?" Probably nothing. But I was intrigued by the offer since it came with some trading software. More on that in a minute.
Most of the e-books that I have bought were not really that good, but I thought what the heck - if I don't like it I'll just get my money back.
So I Bought the Package...
I liked Kevin right from the start and I could tell right away that he was part of the "keeping it real" crowd. I wasn't going to get any hype. And, I could tell that he wasn't going to insult my intelligence by showing me a bunch of "theories" that would never work in the real world.
Here are some quotes from his book:
You won’t find a lot of anecdotal stories or hypothetical filler. I tell you what you need to know and how I use it with an example of what I am talking about. The really unique part is that I apply all of the methods to the SAME price chart. This is proof that I haven’t chosen a chart that has a unique occurrence of some event that only occurs once in a blue moon.
and this...
There are so many trading offers out there that supposedly have "little-known" or "secret formulas" for finding profitable stock trades. Here’s the most profitable secret you need to know…NO trading method that is "secret" or "little-known" will work. You must come to understand that the very premise of making a profit is making trades (long or short) that everyone else trading. Now think about this. If it’s "secret" then very few traders are using it. It takes more than a few traders to move a stock price.
Finally! I have actually encountered a trader that actually "gets it"! Ok, NOW I am excited to read the rest of the book...
After the introduction, this book starts out with the basics of trading. If you are new to trading, you will find this helpful. If you have been trading for awhile, you can skip over this section.
The rest of the book is where it starts to get good. He talks about trading system optimization, his criteria for choosing stocks, and linear regression channels.
There is also a chapter on identifying swing points which is different from the way that I look at them. I'll be testing this out for sure.
Technical Indicators
This trading system uses 2 technical indicators on candlestick charts. As you know, I'm not a big fan of technical indicators so I probably won't use these. But I like how Kevin doesn't use them to make buy and sell decisions. He uses them to confirm a move.
If you use technical indicators on your charts, then you will appreciate this section.
Proprietary Methods
Included in the book are two of his methods that he has personally trademarked and cannot be found anywhere else on the net.
Your purchased guide contains trading methods developed by others as well as those I have personally developed and trademarked and can't be found anywhere else. If you can find any of my trademarked methods elsewhere I will gladly refund your purchase.
These two methods are called Swing Trade Levels™ and Magic Days™. Out of the two, Magic Days™ is a price pattern concept that I will be incorporating into my trading strategy. Sorry, I wish I could go into more detail and explain to you what these methods entail, but according to the Terms of Use:
A user may not:
- Copy, distribute, transmit, display, perform, reproduce, publish, license, sublicense, create derivative works from, transfer or sell any of the System or Information presented and provided on the Site.
- Use any of the System or Information presented and provided on the Site for any commercial purpose, or for any public display (commercial or non-commercial).
Bummer. I was really hoping to do an article on it!
There are quite a few other gems in the book including lots of risk control measures to take, a unique exit strategy, and a trading checklist for the entire trading system. This checklist is helpful if you want to use the system in its entirety.
The one thing I didn't like about the e-book is that there is only one example trade in the book. I really wish he would have included more examples to help solidify the methods presented.
Maybe he will add some more trading examples in the future (you get free updates when you buy the book).
The Ultimate Trading Calculator
This is one of the main reasons why I bought the package in the first place. And I wasn't disappointed.
This software program calculates position size (with different models), has a trade planner to document your trades, and has a trading simulator that shows the equity curve of your trading system.
It can also project profits based on earnings estimates.
This is handy calculator to have on your desktop for any trader.
Was it Worth the Money?
At a price of $97, I would never have bought the package. But since it came with the trading calculator, and some free e-books that I didn't have, I decided to give it a shot.
Never in a million years, did I think that I would actually learn some new concepts that I could incorporate into my current trading strategy.
That factor alone made it worth every penny.
If you want to learn more about Kevin's swing trading strategy, head on over to his swing trading site, and there you can download some sample pages.
