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STOCK TRADING DOESN'T GET ANY EASIER THAN THIS. THE PROVEN TWOFOLD METHOD OF STOCK TRADING THAT HAS EVERYBODY TALKING
Believe it or not, anyone can be a successful trader, even if you have no MBA, no financial background, and no interest in business. Bestselling author Thomas Carr (a.k.a. Dr. Stoxx) has developed a trading system so easy to use that virtually anybody can achieve steady growth whether the market is up, down, or sideways.
How is this possible? By integrating the two most popular trading approaches--technical and fundamental analysis--into one easy-touse market-neutral system. Learn how to:
- Manage your stocks with one simple weekly routine
- Create a portfolio that reduces risk while increasing returns
- Maximize profit potential using a multistrategic approach
- Generate steady trading income over both short and long terms
- Build a million-dollar account that just keeps on growing
Based on 12 years of historical testing and realmoney experimentation, this proven approach to successful stock trading provides seven strategic methods that anyone can master. You'll learn how to use the best available information to find the best possible stocks, positioning your money for growth no matter what happens in the market.
You'll discover the easiest automated tools to build and adjust your stock portfolio--without wasting hours scanning through endless charts and financial reports.
With Dr. Carr's system in place, you can show outsized returns in both bull and bear markets. Forget worrying about future market direction! With "market-neutral trading," you can profit like a pro whether the markets skyrocket or collapse. All you need is a little persistence to make these market-neutral systems work in any economy.
Stock trading doesn't have to be complicated. Dr. Carr's Market-Neutral Trading is the simplest, smartest way to get more bang for your buck.
PRAISE FOR MARKET-NEUTRAL TRADING:
"From the first quote to the final words, Market-Neutral Trading is as highly inspirational as it is brilliantly educational. A phenomenal synthesis of all existing and often conflicting trading wisdom. Drink it in, follow its lead, and this book will help you to soar to the promised land of profitable trading, virtually guaranteed!" -- Garry Gladstone, U.S. Investing Championship Winner
"I read many books regarding trading, but when I read [Dr. Carr's] Trend Trading for a Living, it became a must reference on my trading bookshelf. Market-Neutral Trading is another must-have book for the serious trader. Dr. Carr is again revealing new trading tools to navigate the ever-changing world of trading markets." -- Sam Chab, Financial Analyst, Defense Industry
"Full of practical advice, Market-Neutral Trading is an easy-to-understand explanation of how technical analysis works for your living financially." -- Senuadi Tandun, MBA, CFP, QWP, AEPP, a member of the Financial Planning Advisory Board of Indonesia, practicing financial planner, and active investor
"Market-Neutral Trading is a low-risk hedging strategy with strong consistent returns in volatile markets. The best part is that it only takes a little time each week with little monitoring." -- Randy Russell, CFP, Senior Financial Advisor, Metro Atlanta District, VALIC Financial Advisors, Inc.
"I love Dr. Carr's unique take on the marketplace. His ability to blend technical and fundamental analysis in ways that work is simply unmatched." -- Jeffrey Gibby, Senior Vice President, New Business Development, Metastock
- Sales Rank: #183719 in Books
- Published on: 2014-01-07
- Original language: English
- Number of items: 1
- Dimensions: 9.20" h x 1.40" w x 6.20" l, 1.20 pounds
- Binding: Hardcover
- 368 pages
About the Author
Thomas K. Carr, or "Dr. Stoxx," is founder and CEO of Befriend the Trend Trading, an advisory and trader training service (www.drstoxx.com) that publishes three popular daily stock-pick letters, webinars, and strategy manuals. He is also general partner of Kingdom Capital, LLC, which manages the 8:18 Fund. Author of the bestsellers Trend Trading for a Living and Micro-Trend Trading for Daily Income, Dr. Carr holds a DPhil degree from Oxford University, U.K., and for 16 years served as professor of philosophy and religious studies.
Most helpful customer reviews
12 of 12 people found the following review helpful.
Like a book about love, without mentioning the sex-- i.e.: cost of trading, borrowing, shorting, availability, & other such...
By Bookman
The book is okay. But then, almost any reasonable system that you stick to, like any reasonable strategy you stick to, to keep you from doing stupid things, will work better than doing things on the fly.
I run hedge funds for more than two decades, so what I will say here is the real world:
- O'Shaughnessy much vaunted book is okay, but his results are way over-optimistic. We re-tested his strategies. His best ones are for thinly traded stock, and trading costs are not even included. When you re-run the strategies, with real trading costs, the results are much more modest.
- Also, in today's world of High Frequency Trading, any time you place an order, an HFT mafioso (tipped by the exchange for a bribe) sneaks in front of you, and before you trade, he'll buy it and re-sell it to you higher. Something like an illegal Hotel.com that takes a cut off every hotel room. The Exchanges know of this, but half their business is HFT, so tough. The SEC knows, too, but if they apply the rules, half the exchanges will go bust. So trading today has costs you don't even know.
- All the fancy ratios and bankruptcy forecasters are nice. There are plenty out there. There is also the classic "Financial Shenanigans," by Shcillit and Perler, some of whose insights can be put on a spreadsheet and connected to Capital IQ (or other databases). But so what. The chances of you making the millions of consecutive right decisions needed to make money, is very small.
Why millions of consecutive decisions?
- Here it is:If you can make a decision per minute-- and the decision is Act / Not act (let alone Buy / Sell / Short / Close short / Do nothing)-- it is like throwing a coin once a minute. What this book recommends is, DO NOTHING 99% of the times, and DO THE RIGHT THING 1% of the time.
What's the chance you come up with right sequence of ACT? You think you can do it? You heard of adrenaline? And testosterone? And serotonin? And other internal combustion bio-liquids? How long will you be able to stay inactive, if the coin says NO, NO, NO...? A year? Two? You have hobbies, maybe?
- Re shorting:
Shorting is not automatic. The cost of short is both price, and borrow fee. The best stocks to short are most in demand, and to borrow them would cost you 5-6% per year for the cheapest, and up to 20% per year (!) for the one falling fastest. I.e.: The stock lender will take his cut. And not only that, but the number of shares you can borrow (unless you want to borrow IBM or ORCL) will be bubkes, because hedge funds like me get first call.
- When the stock starts falling, the interest you pay on the borrow fee starts zooming, because other shorters want it, and so the lender starts jacking up the lending rate. If you don't want to pay it, fine: close your position. I.e.: buy it back. But in not very liquid stocks, this will artificially create a short squeeze. If it rises 25 - 30% and keeps rising, and you pay 10 - 15 - 20% on the borrow, it feels just like your nuts being squeezed. You like it? Go ahead, sell short on a mechanical signal...
- The most important parameter in running money is POSITION SIZE. The second is: fit the position size to your nuts' pain threshold. The one main thing this book does not say is how to avoid throwing in the towel, because your portfolio is down 30%, and the half of it which is short, also pays 12% interest rates per year. You will stay in the position? Yeah? Why? Because a piece of printed paper + a website says so?
- All in all, though, the book ain't bad. But learning to invest from a book that does only models and back testing, is like learning to box from a booklet of instructions. (I did that too, years ago, before I started with a real trainer). What it doesn't teach you is how to act in REAL TIME. Or, rather, how NOT to act, in real time. To get punched, and not blindly react. Just keep bobbing and weaving and not hit back because of emotion. Like boxing, knowing the difference between a hook and a haymaker and a suckerpunch is nice. But knowing and doing, well...
- Sure, read the book. But then, before you buy and sell, PAPER TRADE FOR A YEAR OR TWO. This will teach you about yourself, too. Then go ahead and invest.
I know none of what I said will stick. But what the hell. You've been forewarned. As in boxing, merely keeping your shorts on seems easy. It' ain't.
12 of 13 people found the following review helpful.
Practical, good ideas
By Jerome I.
The basic idea in this book is to be fully invested all the time, and have 50% on long positions, and 50% on short positions : in bull markets, the long positions outperform the short ones, and vice versa for bear markets.
In order to find the trading candidates, use both fundamental analysis and technical analysis.
The book offers 7 different systems, which work (approximately) like that :
On a regular basis (each week end for example), run a fundamental scan to find stocks to buy, run a fundamental scan to find stocks to short, then pass all the stocks in technical filters to only keep the best ones. Or use technical scans first, and then fundamental filters. At the end of the process, chances are you already have a position in most of the stocks. On the next trading day, liquidate your positions on the stocks that weren't in your list and open the next positions.
The author mentions the tools he uses, so that you can run the same scans (but none of them are free ...)
All in all, the ideas presented here are good. "Neutralizing" the market by being long and short at the same time is a good idea. I also like the mixing of fundamental data and technical analysis to find the stocks.
To be specific : he uses Piotroski ratings, Navellier's Porfolio Grader, Zacks Rank, CANSLIM and free cash flow yield for the fundamentals, and his own technical setups described in Trend Trading for a Living (which should be read before) + a new one, based on Bollinger bands.
A word of caution : don't expect to make money following blindly the systems ... the author explicitly states that you'll need to break the rules when you "feel" it (he calls that "discretion") ... that comes with experience or by studying with a mentor.
On the minus side :
I personally think the author tries too hard to sell his stuff (the Trend Trading Toolkit for example, that you really can avoid, or his coaching...).
Furthermore, I think there's not enough explanation about his systems (why mix this fundamental scan with this technical scan, and not another one ?).
Be also ready to hear biblical stories, and "strange" prophecies : It doesn't bother me, I'm a born again Christian, but it is rather unusual in trading books !
I'm still not sure whether I'll try those systems or not, but the Piotrovski F-scrore and the Earnings Estimate Revision systems make a lot of sense (even if they are not the most profitable presented in this book).
Happy trading !
Jerome I.
2 of 3 people found the following review helpful.
All of Tom Carr's books are good and this one was no exception
By Amazon Customer
All of Tom Carr's books are good and this one was no exception. Great wisdom on combining fundamental and technical trading plus being long and short to neutralize risk.
See all 8 customer reviews...
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