Trading Software and Books Reviews

Understanding Eminis: Trading to Win

When I first flicked through Understanding Eminis: Trading to Win, my initial reaction was unfavourable. I thought the book was no more than a dictionary on indicators and little better than my old SuperCharts manual. On closer inspection I saw that my initial thoughts were a little harsh.

Understanding Eminis: Trading to Win focuses on the Mini Nasdaq and S&P contracts. It does not provide the reader with a complete overview of trading, but rather focuses on method. Very little is written on money management or psychology. It’s primarily a collection of ideas.

The book starts with the basics, describing the Emini contracts’ specifications, types of charts, timeframes, pivot points and support and resistance. The book then does its best to imitate an introductory candlestick book by illustrating various candlestick patterns. Following this the author provides a good summary of the key trend, momentum and breadth indicators.

I found the last section, devoted to trading strategies, more interesting. Here the author explains various trading ideas of such prominent traders as Toby Crabel, Larry Williams (his “oops” trade), Gary Smith, Tom Busby, Larry Connors and Linda Raschke. Interspersed with the traders’ ideas, various breakout, gap and swing trading tactics are presented. There are enough ideas discussed here to fill many late nights with researching and testing.

Understanding Eminis: Trading to Win is compiled like a good set of university notes – brief and to the point. There is no unnecessary print to distract the reader. I think any book is worth considering if the reader can pick up just one new idea – and I believe the section on trading strategies might just be the place to look.

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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