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Readers reviews of Sniper Trading

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The central claim of this book is that you can fine tune your trading skills to the point where you know where the market will go and when it will get there. The book fails to justify these claims. The examples are so heavily hedged with exceptions and conditions that the reader is left unconvinced about the validity of the initial claim. The technique is built around time and price analysis. It draws from Gann trading techniques and combines these with selected Fibonnaci numbers to create a buy or sell zone.


Like many traders who claim to know exactly where the market is going to the exact minute – a claim made several times in the book – the success of these techniques lies more with standard trading discipline than with the analysis. Success, he writes, comes from knowing how to trade. It is this knowledge that forms the foundation of his Sniper Trading workshops, and there are many references to these courses.


His discussion of the psychology of trading, the challenges of short term trading, and the need for fast action on stop loss conditions is well written and useful. The chapter on running the stops applies particularly to US markets. Traders who are involved in those markets from a distance will find this chapter useful in calculating the best place to put stops and understanding why they are stopped out so frequently.

 

 

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