Momentum Stock Selection: Using The Momentum Method For Maximum Profits

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Product Description

Proven techniques to improve market-timing accuracy

Written by internationally recognized trader, author, and researcher Jake Bernstein, Momentum Stock Selection details a method of combining market momentum with innovative risk management to dramatically increase profitable opportunities for both short- and long-term traders.

After briefly defining market timing and market momentum, Bernstein heads directly to the heart of the book­ �how any trader can use momentum to increase trading effectiveness. Employing numerous real-life examples and illustrations to explain key points, he gives the reader inside details on:

• How to choose the right time period for charting
  
• Red flags that point out when a signal is wrong
  
• A five-step method for determining momentum-divergence patterns
  
• An actual "walk-through" of a momentum-divergence signal as it develops
  

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Momentum Stock Selection: Using The Momentum Method For Maximum Profits Review

With respect to this book, I do agree that

1) momentum is a very important trading concept whilst MACD is a very useful oscillator type indicator to identify overbought and oversold situations, and thus change of s/t trend, a TA tool which helps traders not to buy high sell low, especially in a day trading environment.
2)the author had written a very easy reading book in a very friendly and understandable way.

However, I can hardly agree that:-

1) the author presented momentum as a surefire weapon in the highly volatile market and can be used alone
2) the author did keep it simple, but it's too simple all the way throughout the 180+ page content. He should go from simple concept to complicated application, and teach readers how to improve its accuracy with simultaneous usage of stochastics or RSI or...In fact, there are many examples/charts illustrated by the author which showed extended period of divergence with very unfavorable price moment that might have already kicked an investor out of his position, in case he/she did not have a strong conviction on his/her position but by sheer reliance on MACD.

As a professional trader, I cant recommend this book to anybody. The quality of this is far below the author's own classic "Investment Quotient" which the author's strength (trading behavioral psychology) rests solidly upon.

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