Trading Software and Books Reviews

Dynamic Trading

Dynamic Trading is the discretionary trader’s book. Having originally purchased my copy of Dynamic Trading in 1998, I found that in the second edition, except for some additional examples, there appears to be very little difference.

Dynamic Trading is a large and comprehensive book that provides a complete methodology for trading any markets across any time period. What you won’t find in Dynamic Trading is a comparable discussion on money management or psychology. This is a strength, as the book focuses on how to use pattern, price and time to find high probability trading set-ups and how to take advantage of them with entry, stop and exit techniques.

Without over-simplifying Dynamic Trading, the author’s philosophy is to combine three dimensions of trading – pattern (Elliott Wave), price and time (Gann and geometry) – into a cohesive approach to market analysis that will stack the odds in the trader’s favour. Although using three dimensions is no guarantee of success, the process of using each dimension to confirm the other helps to find good probability set-ups.

In addition to finding set-ups Dynamic Trading spends an equal amount of time discussing how traders can sensibly take advantage of their analysis. With the depth and breadth of pattern, price and time techniques that he discusses, Robert Miner is very aware that Dynamic Trading will be the technical analyst’s book. He is conscious that those traders who spend a lot of time analysing can become more analyst than trader. So, Dynamic Trading continually stresses the importance of using a sensible and logical trade plan, that will allow you to trade the market and not your analysis. This practical aspect of Dynamic Trading will help keep people’s feet on the ground.

Dynamic Trading is a meticulously planned and well-written technical trading book, detailed and practical, with plenty of examples and clear, easy-to-read charts. It is a good source from which to learn more about Gann, Elliott and geometry without having to buy three separate books.

This article was originally published in the Sep/Oct 07 issue of YourTradingEdge magazine (www.YTEmagazine.com). All rights reserved. © Copyright 2009, MarketSource International Pty Ltd.

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