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32 Reviews
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7 of 8 people found the following review helpful
5.0 out of 5 stars One word...Excellent!!
I've read over 30 books on trading and this book ranks at the top with Dr. Elder's "Trading for a Living". I learned so much from it that I'm reading it for the second time so that I can commit the priciples to memory. It's not for the beginner, but if you've been trading for at least 1 year the book's knowledge will definitely hit home. It's written in a very...
Published on July 11 2004

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4 of 5 people found the following review helpful
3.0 out of 5 stars Good, but over written
This is a good book. Covers all the bases.
BUT it is over written and repeats itself too much.
In fairness, Mr Link does say he will repeat his material - he claims this aids the learning process. But, I personally find this a patronising statement, and I wish the book was more concise.
Published on April 28 2004


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7 of 8 people found the following review helpful
5.0 out of 5 stars One word...Excellent!!, July 11 2004
By A Customer
This review is from: High-Probability Trading (Hardcover)
I've read over 30 books on trading and this book ranks at the top with Dr. Elder's "Trading for a Living". I learned so much from it that I'm reading it for the second time so that I can commit the priciples to memory. It's not for the beginner, but if you've been trading for at least 1 year the book's knowledge will definitely hit home. It's written in a very easy-to-read style which makes it more enjoyable to read, especially for a topic that can be so dry and technical.
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2 of 2 people found the following review helpful
4.0 out of 5 stars Good Advice, Nov. 15 2012
Verified Purchase(What's this?)
This review is from: High-Probability Trading (Hardcover)
I have been trading for many years now and have taken additional training but can always use more information that will improve my profitability. This book spends several chapters explaining the common pitfalls for untrained traders which are crucial to know if you want to be successful. The author is a day trader for the most part but his techniques can also be applied to us that trade in the intermediate or long term time frames. It is a good book for all levels of trader.
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4 of 5 people found the following review helpful
5.0 out of 5 stars This is the one!, Feb. 20 2004
This review is from: High-Probability Trading (Hardcover)
At the risk of being repetitive, I'm going to have to give this book another stellar review. Like many others, I have read a hundred other trading books and this one stands heads above the rest. The author is obviously an active trader and is not ashamed to divulge his weaknesses, even current ones. He covers all of the necessary bases (psychology, money management, risk management, setups, tradeable markets, etc.) without being exessively wordy. He is one of the few traders who can actually write relatively well. He manages to explain arcane and complex trading concepts using understandable and economical word choices. The review structure at the end of each chapter is an excellent technique to enhance the learning process.
Yes, most of the information is more useful to the novice trader but one neeeds a basic comprehensive understanding of trading to get the most benefit. On the flipside, since it is so inclusive, the book could serve as an excellent refresher for the seasoned trader. That trader might even come across a concept long forgotten and be able to turn it into a profitable strategy.
HPT has become my primer. I come back to it every few months to review sections that I feel weak in. I recommend this book to everyone who asks me for that "one book" that can get them a head start in learning to trade.
Great job Mr. Link! I eagerly await your next contribution to the world of trading literature.
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4 of 5 people found the following review helpful
5.0 out of 5 stars The best trading book I ever read, Jan. 16 2004
This review is from: High-Probability Trading (Hardcover)
I had read tens if not over a hundred trading books (and written many reviews here on Amazon), This is by far the best I ever picked. It really helps!
The author had covered most of the topics that should be included in a compleat guide of trading (trading psychology, uaage of TA, money management, trading system development....). Some of his key points are:-
1. Top traders are essentially pro gamblers who only bet when the odds are in their favor.
2. Trading must be dealt focusedly as an entrepreneurial business with loss (must be relatively smaller than profit) taken emotionlessly as regular business cost.
3. Good money management is the common denominator of all successful traders irrespective of their style.
4. TA is bascially a trend/fact finding process to be searched through multiple time frames, verified with different indicators, and that TA can be applied on indicators as well (trendline in MACD, and CD between price and MACD)
I personally like the no nonsense and humorous writing of the author much. The summary and point form "do's and dont's" in the end of every chapter did help me to memorise what I had studied for long. His clever use of graphs in the TA tools section is really outstanding. Believe me or not, his use of less than 10 pages on the explanation of MACD is a lot more powerful than many TA books that used up over 100 pages on this single topic.
In short, it's a must read for any player who wants to improve his/her edge over the ocean of competitors in the market. My salute to the author who writes me this excellent book.
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4 of 5 people found the following review helpful
5.0 out of 5 stars The Real World of Trading, Feb. 28 2004
By A Customer
This review is from: High-Probability Trading (Hardcover)
This book lays out the realities of trading; years (yes, years) until proficiency and profitablity, hard work and discipline are the minimum requirements, trading is a job, etc. Written in a positive tone, Link gives an outline of the steps to become successful, but doesn't suggest that there are any easy pickings in the markets. Of my 50+ trading books, only 4 were worth reading, and this is one of them. Start here.
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4 of 5 people found the following review helpful
5.0 out of 5 stars Money and risk management aid, March 12 2004
By A Customer
This review is from: High-Probability Trading (Hardcover)
This book won't teach you how to trade setups, but it's an excellent book on the "Holy Grail" of trading -- money management. A trader can be wrong 70% of the time and still make money if proper money management techniques are used. I place this book on par with Dave Landry on Swing Trading and Street Smarts as a smart read on managing money for profitable trading.
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3 of 4 people found the following review helpful
5.0 out of 5 stars This book ties everything together, Oct. 25 2003
By 
James Lor "James Lor" (Montreal, CANADA) - See all my reviews
(REAL NAME)   
Verified Purchase(What's this?)
This review is from: High-Probability Trading (Hardcover)
I've read some of the reviews (or should I say criticisms) of this book. They write that it's for beginners, there are just a couple of setups, and the obligatory discipline "cut your losses" warning chapter. I think people are missing the big picture.
If you want a detailed book about technical analysis, with lots of explanations, setups, etc. etc., there's "Technical Analysis Explained" by Martin J. Pring, or you can buy something by Jack Schwager or John Murphy.
If you want a book about building and testing a trading system, there's "Trade Your Way to Financial Freedom" by Van K. Tharp.
If you want a self-help book about discipline / psychology, there are a lot of those, some in the investment section, some in the psychology section.
If you want a book about day-trading, there are a ton of those as well.
The thing I like about this book is that everything is there in one place. At the end of each chapter, the author gives you pointers on what to do and what to avoid doing to reinforce your memory of the principles. The book is written in a very readable style. I got this book about three weeks ago, and by applying some of the principles I learned from the book, I made two profitable trades (which I would not have normally made) and avoided making a trade which I normally would have made. This trade would have been a loser. As a result of reading this book, I made and saved enough money in the last three weeks to buy ten copies of this book. Isn't that why we read these books???
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4 of 5 people found the following review helpful
3.0 out of 5 stars Good, but over written, April 28 2004
By A Customer
This review is from: High-Probability Trading (Hardcover)
This is a good book. Covers all the bases.
BUT it is over written and repeats itself too much.
In fairness, Mr Link does say he will repeat his material - he claims this aids the learning process. But, I personally find this a patronising statement, and I wish the book was more concise.
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2 of 3 people found the following review helpful
5.0 out of 5 stars If you like trading, get this book!, Dec 15 2003
By 
Dale Vogel (Burtonsville, MD) - See all my reviews
(REAL NAME)   
This review is from: High-Probability Trading (Hardcover)
This very readable book is written by an experienced trader who has gone through the bad years, turned it around, and figured out how to make money trading. What Marcel Link offers is an experienced guide to tell you how a winning trader thinks about the process of trading, and what it takes to be a successful trader. He writes like a friend. He confirms the good things you were doing with your trading, and uncovers the areas where you can improve. You finish reading the book with increased confidence in knowing what it takes to be a trader, and in your approach to trading. Get this book, relate to it with what you've experienced with your trading, and enjoy some insights into the decisions and dilemmas, you need to get past, to become a successful trader. This book has changed the way I trade. One of the best trading books out there. Enjoy.
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2 of 3 people found the following review helpful
5.0 out of 5 stars A Great Book and a Great Read! 5 Stars!!!, Dec 29 2003
By 
Nicole (New York City) - See all my reviews
This review is from: High-Probability Trading (Hardcover)
Marcel Link has managed to encompass almost everything you'll need to know about day-trading in one incredibly well-written, highly readable and enjoyable book. Before I found it, I took seminars, accumulating dozens of notebooks, notes and video lectures, and bought countless more expensive books on the topic...but none of these taught me everything I needed to know the same way High Probability Trading did. Mr. Link expertly covers technical analysis, trading on economic indicators, devising a trading plan, managing one's emotions during trading, the importance of sufficient capital, and more -- topics rarely found in one place. I highly recommend this read to anyone serious about making money trading.
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High-Probability Trading
High-Probability Trading by Marcel Link (Hardcover - April 7 2003)
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