The title might lead you to think that this is a book about using managed funds to do better than fund managers do, but it is much more than that. It is a guide both to designing portfolios, and to selecting the strategies and tactics to use within those portfolios.

People with knowledge of the markets may, like me, feel that this task is impossible to fully explore in 169 pages. But as a broad map showing the paths that need to be taken, the book is excellent. It is easy to read, not overly technical, and is full of well-explained diagrams. Its clear layout leads the reader’s thinking through key areas that need to be explored if consistent success is to be achieved.

If you are new to trading, think of this book as a good foundation on which you can build your personal wealth-creation strategies. If you are more experienced, think of this book as a keystone – the stone at the top of an arch that holds all the other stones in place.

However, readers must also realise that the book is only laying a foundation of process and procedure based on the psychology, values and beliefs of the author. While these are quite sound, they will seem too conservative to some and to others too risky. But after this journey through the author’s logical presentation, readers will be much wiser and much more aware as a result of the time they have invested in the book – provided they do the necessary home work.

Dale Gillham does a good job of looking at the myths that have caused many people to come unstuck. After clarifying concepts he builds a solid case, based on sound reasoning supported by evidence, for the reader to consider using his approach.

Your Trading Edge

This book is not, as some have thought, about electronic day trading. It is about the paradigm shift towards electronic trading that has been taking place around the world over the past decade. In many ways this is a complementary book to Patrick Young’s Capital Market Revolution, which explored the industry’s transition to electronic trading.

While a most interesting read, the book’s style is that of a textbook on the psychology driving the changes, and on the primary and secondary effects this has on the trader. For example, while the electronic medium may allow, on the one hand, for Young’s transparency, liquidity and accessibility within the markets, it also provides opportunities for gamblers to lose large sums of money. Seeto devotes a considerable amount of time to examining gambling attitudes to trading, as well as the ease and subsequent danger and impact of over-trading.

The purpose of the book is to discuss, in an informative and enlightening way, the challenges and bonuses in trading the markets electronically. The author, an experienced institutional trader and private client adviser, then walks the reader through processes and procedures to take advantage of this ever-improving trading environment. At the same time he cautions about the challenges of over-trading and the increased challenges provided by the availability of information.

The depth to which this book explores its subject and its textbook style will not appeal to everyone. However, time taken to explore the ideas will be a worthwhile investment. For some, it may prove to be a most profitable investment.

Your Trading Edge

Trader One

The Bourse is user friendly. The installation process is simple and the beginner’s tutorial is comprehensive and concise.

The standard screen arrangement contains the stock list, and the other two screens contain the market depth and the chart relating to the selected stock, option, warrant or futures contract. The software has a sizeable choice of technical analysis tools. I found them very simple to apply to the charts. I was able to perform all the usual tasks, such as saving my drawings and altering the indicator parameters to my preference.

Creating my own ‘chart styles’ or mix of indicators and then applying them to all charts was very simple. Adjusting the layout was also simple and flicking between full screens was the only task that posed more of a challenge (a second look at the tutorial solved this).

The user can choose between live, snapshot or delayed data depending on needs and budget (rates are available on the web site). Some news reports are free with a 20-minute delay, or available from other commercial providers at a cost per item. Although I lean heavily toward charting as my method of analysis, the information for fundamental analysis appears more comprehensive than I have encountered on other software. There is a handy search function that allows the user to search by symbol or name. I also enjoyed the Google-like search function that can search for keywords in both the text body and in headlines of news reports.

The best features of The Bourse software are its simplicity and practicality. The fact that the program was so user friendly meant that I could immediately start focusing on what the stock was doing instead of working out how to master and tweak the program.

Trader Two

The ‘Getting Started Tutorial’ was an excellent introduction to The Bourse – concise, clear and comprehensive. By running the tutorial on my laptop while following the instructions on my PC I was able to gain, in one run through, a good understanding of the program’s capabilities.

The Bourse offers a pane layout, and users have the choice of fixed panes or multiple document interface. I found each had advantages, and one might use several different layouts for different purposes. My initial task was to set up a customised layout with a watch list and chart, and then populate a watch list; all of which was achieved with minimum confusion. The panes are synchronised so that the data simultaneously change in all of them as you flick through the watch list. The screen is clear and uncluttered.

There is an impressive array of indicators and drawing tools to satisfy even the most avid technical analyst, and I had a lot of fun playing with the different chart options. Defaults are determined by the user. It is then a simple matter to select different styles from the built-in list, or to create and save your own, using combinations of favourite indicators. One thing I did find disconcerting was the need to elect to save all lines drawn on the chart. I would rather have to elect to remove them.

Easy customisation is found throughout the program.

Information needed by options and warrants traders is available, plus a wealth of detail on company profiles, past dividend and trading history; useful internet links, and an excellent search feature.

A user-friendly platform, ease of access and customisation are the buzz words here, and given that it is not at the top end of the trading software price range, this bundle of features makes The Bourse a very appealing package.

Trader Three

The Bourse is a software solution for traders at all levels. It is a highly customisable, very smooth system to co-ordinate information viewing, charting, and reception of trading alerts.

The Bourse has all the features an experienced trader requires, but is also very friendly to newcomers – an extensive and comprehensive integrated manual is supplied, augmented by a very fluid and helpful video tutorial or even a short face-to-face instruction course if desired.

The Bourse’s greatest strength is its ‘customisability’. Virtually every element in the program is adjustable; furthermore, there is the option of synchronising a number of information windows (for example, market depth, a chart, and perhaps a news breakdown) with a selected symbol – changing symbols in a particular window changes them all.

The integrated charting system is comprehensive, allowing good flexibility in the application of a wide variety of standard charting tools. Charts can be saved and exported, and it is possible to save favoured chart templates and apply them to any chart as desired.

The Bourse offers streaming news and easy access to news related to specific symbols and their associated company or companies, currency, or commodity. The Bourse Data also offers access to its Bourse Research service, which gives easy access to every relevant piece of information about a company – it is also possible to search this database by criteria, allowing a user to quickly find stocks that fit a trading strategy.

The Bourse also offers an ‘e-lert’ service, sending you alert SMS messages based on a condition you set and ensuring you’re never isolated from their service.

In my view the Bourse is a user-friendly and comprehensive software platform for information management and data analysis, which will undoubtedly prove useful to many traders of all levels. If you’re in the market for a software package to enhance your trading, be sure to give The Bourse a whirl.

Bourse Data Response

Many people claim that their software will (almost) do the trading for you. However, we know that great traders are not successful because of the software they use. They have rules to guide their trading, and they seek out software that is comprehensive, flexible and easy to use to support those rules.

Our ongoing goal for The Bourse is to support you in making trading decisions confidently and effectively.

To that end, we understand that you need more than just pricing data or scanning tools. You need to know when a stock is going ex-dividend, or when a sensitive report has been released. Thus, the Bourse combines your choice of delayed or live ASX and SFE market data with:

• easy to use and comprehensive charts

• access to SMS alert services

• a portfolio system

• full financial information for every company traded on the ASX

• access to market scanning technology

• international pricing data (including currencies)

• access to a multi-broker trading platform

• customisable screens and layouts

• live AAP/RWE news and company announcements.

Our service includes full telephone support – so you never need to be caught out trying to remember how to use a feature of the program. We enjoy talking with our customers, and many of our best ideas have originated from customer suggestions.

Bourse Data also offers comprehensive trader education. This is focussed on setting up rules so that you can have consistent results without the fear of losing control.

Finally, we understand the importance of saving money. Our intra-day subscription data plans are more comprehensive and better value than most end-of-day data plans. Our education courses have been rated as superb value by nearly all attendees.

Your Trading Edge

Anything written by Larry Williams is worth at least a bit of a read. He is the one who wrote a book about how, in a trading competition, he made $1 million from $10,000. On the way to the million dollars he went through $2.2 million, meaning that at one stage he lost half his trading account.

Larry is an experienced professional trader who has made millions in the markets. He is a fund manager and, some think, a bit of a cowboy. I find it interesting that while many authors, in this bear market world, are writing about bear market strategies, Williams has lifted his gaze to a broader approach by drawing on his four decades of experience. The book is a course in his ideas and approaches to trading a variety of international markets. Where possible he likes to trade over longer time periods, considering various cycles, including seasonal changes.

If you are looking only at the Australian stock market, you may feel that many of his ideas are not relevant to your situation. I would suggest that they probably are relevant, once you have done some work to make them so. The real challenge is for readers to take the ideas and turn them into practices and procedures in the markets they trade.

Over the years Larry Williams has been responsible for the development of a number of indicators that are in common use and available on most software packages. Some of them are explored in the book.

The book is easy to read and the concepts easy to follow.

Your Trading Edge

Trader One

After working my way through MTPredictor’s 149-page first volume, I was sold on the general premise behind the software.

Unlike a spate of programs currently on the market that deal with the intricacies of Elliott Wave theory, MTPredictor narrows the theory down to several key, and more importantly, tradeable, ideas.

To a beginner, Elliott Wave theory is a rather complex concept to get your head around, a task not made any easier by various materials out there that make it seem like rocket science rather than what it really is.

MTPredictor, on the other hand, offers a simplified take on Elliott Wave theory that is absolutely invaluable to the novice trader.

The real find for the new user will be chapter eight of the first volume of the manual, which details crucial elements of trading such as position sizing and reward to risk. I have yet to find a better chapter on the subject anywhere for beginners.

However, as much as MTPredictor offers an ingenious take on Elliott Wave theory and appears to be an exciting instrument for the new trader, I did run into some problems.

For a start, despite the MTPredictor website being easy to navigate and jam-packed with information and tips, the software and my computer decided to butt heads from the outset. I was disappointed to find an error message appeared on my computer when I tried to open the software. Several resets later and progress was still at a snail’s pace.

Seeking the wisdom of the extremely helpful support staff, emails were traded with rapid response time but despite their best work, the software would still not load on my computer.

I was eventually told the error occurs on a small number of systems. Therefore, as I write this, I can say little about the functions of the software, only that I liked what I saw during an early online demo I was treated to.

I will continue my efforts to get it up and running on my computer, but was also pleased to hear that a new version of the program, EOD v6.0, which has been built from the ground up, will be out later in the year.

Aaron Lawton has been trading options part-time on the US stock exchanges for a little over two years.

Trader Two

New or prospective MTPredictor users are given a live demo of the program over the internet by a representative. I found this to be a great way to jump start into the program.

MTPredictor is straightforward to use and happily there is an ample library of short and succinct video presentations for training. I found the videos were a very easy and time-efficient way to learn to use the program.

The support staff for both MTPredictor and Paritech (the data suppliers) were most helpful in solving some initial teething problems.

I have never applied Elliott Wave in my trading before and found this program to be a great introduction, as it makes Elliott Wave immediately usable to the novice. In addition to Elliott Wave principles, MTPredictor incorporates money management far more comprehensively than do most programs. The user follows a process that generates a number of trades from which the user chooses. The program gives the user a systematic approach to trade selection and even provides risk/reward analysis and exit trigger information for traders. This means the user is more likely to trade in a more consistent manner, which is well known to be an ingredient of successful trading.

This software is geared towards really helping the user qualify and manage their trades in a disciplined fashion, as well as assisting the trader to determine how much to invest in each trade. It is a very user-friendly program, which helps a trader at any level apply very sophisticated trading methods.

Ulla Decken is a part-time trader.

Trader Three

MTPredictor EOD, distributed in Australia by Paritech, is a trading software front-end that facilitates trading of a proprietary Elliott Wave-based trading method.

Built-in trade scanning software analyses market data for potential low risk/high return trade opportunities, providing a list of qualifying instruments for that day. Data is not supplied, but MTPredictor can be pointed at almost any data format - even custom format for non-standard data. Paritech offers a fully compatible data service, though this involves some hassle and the installation of separate data download software.

The system utilises a number of variables that can be tweaked to alter trade parameters; these are discussed in regular daily reports and online forums. Risk/reward analysis and trade size functions are central to MTPredictor, ensuring proper risk control.

The software front end is neat and minimalist without skimping on necessary features. A standard charting package is available, with the option of saving charts for future reference and a useful ‘training mode’ that enables scrolling back and forth through a chart one bar at a time - an effective visual aid for new traders.

MTPredictor is well documented, with a comprehensive series of online videos detailing the operation of the software and interpretation of the system. The designers also offer online demonstrations via conference call with video support that leaves a new user with no doubts as to how best to employ their system and software.

However, we ran into a few bugs that can cause the software to crash unexpectedly in the course of editing and switching charts. While the need to manually reselect folders to be scanned is not a big issue for end-of-day trading, it remains an inconvenience.

The great video tutorials make MTPredictor an accessible software package for novice to intermediate traders, especially those who would like to understand and control their risk.

Tom Frtunik is an FX spot trader.

MTPredictor Response

Our thanks to YTE, the three reviewers and Paritech!

MTPredictor takes a trader through a four-stage process - finding a trade; assessing its risk/reward potential; determining the position size; and managing the trade. With customers worldwide, it is a pleasure to demonstrate the software in the Pacific Rim.

Reviewer One rightly highlights the tradeable approach we take to the complex Elliott Wave method and on the risk control/money management of the software. This separates MTPredictor from most other commercially available software. With regard to Reviewer One’s difficulty installing MTPredictor, three programmers here traced this to the computer’s registry not closing properly, probably due to a corrupted Windows .NET framework. A minor corruption may have occurred, for instance if, you have installed and uninstalled many programs over time. We are discussing a .NET re-installation/alternative PC with this reviewer and will report back to YTE.

We have found the online demonstration and video library to be invaluable introductions to MTPredictor. A systematic method of trade selection, as Reviewer Two points out, is crucial in the software. We agree: these are sophisticated methods deliberately simplified to be useable by traders - from newcomers (standard, automatic trade set-ups) to experts (advanced trade set-ups).

The Scanner is the start of the process, from which the risk/reward analysis and trade sizing follow. As Reviewer Three states, the Training Mode is there to help novice traders especially and we do pledge full support to our customers, worldwide. In fact, we have just hired a very good customer and trader to head our Support. Data, for the vast majority of trading customers, resides in a single folder - jumping between folders is unnecessary. Accordingly, we have very few customers who experience freezes.

Your Trading Edge

A most interesting book – definitely a ‘must have’ on your shelf. Pull out the plastic and get it!

Trend Following is presented as a replacement for the Market Wizard series of books. However, it is not. The author’s own mindset comes across so strongly that it is difficult for the reader to see into the minds of those whom the author interviewed. Nevertheless, the book would make a good addition to the Market Wizards series.

Trend Following is well constructed, well written and an excellent distillation of the research undertaken by the author. Backed up by trading ‘legends’ like Ed Seykota, it convincingly argues that the most successful trading systems are based on trend following.

While you may read the book in bed, especially the first time, it is best read at a desk with a notepad handy. While seeming to come from the perspective of technical analysis, it is still a very good book on trading psychology. Covel gives the reader solid evidence for his ideas by drawing on the experiences of people and of specific history-making events.

All the people interviewed are survivors in the world of trading. They are open in sharing their thoughts, freely giving insights into the markets and into the emotions and feelings that come between people and their ability to follow their systems. The book is both a great read and an insightful textbook for all traders and investors.

Your Trading Edge

Trader One

I found the Stator software installation process simple and standard. From there the setup process did take me several hours of exploring the program before I understood what I was doing. I completed both the brief online tutorials offered, but was left needing still further assistance. Fortunately, I found the customer service help for the setup was extremely responsive and helpful.

The best aid in the setup process was the comprehensive help file, which contains all information required. The only stumbling block was that I did not always find it easy to locate that information. This is where I found the technical support via email very handy, as they promptly pointed me to the relevant help files.

Once set up, I found the most useful information the program generated was the performance charts feature for closed trades. It made a difference to see my trading performance represented graphically. This gave me new insight into patterns in my trading.

Stator updates prices from Yahoo data, which is great because it is free (great for trading on a budget). With the data updates I had an instant statistical view of the overall performance of my portfolio on that day. There are certainly more statistics generated than the novice trader needs, but this means there is room to grow with the program. There are a lot of statistical averages given and this I thought was interesting although not as helpful as the equity charts.

In short, it took several hours of trial and error to set up my trading information. However, the program delivered an abundance of performance information and gave me a good perspective on my trading.

Trader Two

Not having a strong accounting background, I initially approached my review of Stator Pro with some trepidation, but my fears were quickly allayed after I worked through the online tutorials. I was soon up and running, and after a few hours exploring the program’s numerous features I felt I had sufficient grasp of what it offered to begin using it.

Stator is a portfolio management program designed to monitor all investment transactions and provide money and risk management strategies for portfolios from the simple to the most complex. It is easy to navigate, and offers a lot of help for the new user.

Users may have multiple systems within multiple accounts, and these can then be consolidated to give a complete overview of the portfolio, or sub-consolidated into smaller groups as required. The position sizing and position overlay features allow for customised money management rules so that positions are quickly and easily calculated and risk minimised.

It was a simple matter to open an account, establish some trading rules, and then start entering transactions. Closing prices are updated each day either manually or through a simple online system. These functions may provide sufficient record-keeping for the novice with a small account, but for the more sophisticated user trading a large account with different instruments or foreign currencies, a wide range of tools is available to facilitate such things as currency conversions, adjustments made for splits and rights issues, and entering of irregular finance costs.

The program contains a wealth of sophisticated features including detailed analysis to enable performance to be monitored, the ability to import trades from a spreadsheet, and importantly, produces a range of comprehensive reports for your accountant. It offers a flexibility and functionality that will be enjoyed by all traders from beginner to the serious professional.

Trader Three

Stator is a position management platform allowing one to keep track of multiple trading systems across a variety of instruments and markets and apply analysis techniques to measure risk, exposure, and performance.

Stator has an extremely comprehensive and readable help file and a range of online tutorials in flash and text. The program runs very efficiently and provides multi-user support.

At its core, Stator is a portfolio management system, but it also provides some powerful performance-chart analysis tools, cost management analysis tools, and quick and useful access to a host of statistics about a given trading system.

Stator is easy to customise, allowing grouping of trades and systems together; the display of data can also be tailored to show data you want to see efficiently.

It is easy to use Stator immediately to log trades and combine a number of instruments into systems. While the more advanced analysis tools take a little experimentation to learn, they are not hard to master (Stator’s excellent online tutorials help a lot here).

It is also easy to make the transition to Stator: a flexible data import interface can bring in your past trading history easily; price data can be obtained free from Stator and updated with a one-click interface, or updated manually from their website or a text file.

Stator also tracks the relevant taxation details of any trade through a taxation module. This module is updated as tax laws change.

Stator is a worthwhile investment regardless of whether you are just starting out or have been trading for years. New traders will find it a boon, particularly to trading discipline, while experienced traders will find it saves a lot of time. The quick and powerful statistics and performance management tools are worthwhile for any trader.

Anfield Capital Pty Ltd Response

Stator provides one of the most comprehensive portfolio management solutions available in the market today. Stator’s market leading position is gained by providing both traditional trade management functionality and a wide range of performance metrics in an easy-to-use platform. It is designed to provide the flexibility required to manage multiple, sub-consolidated and consolidated portfolios.

Stator allows control over the entire process from entering a trade to closing a trade, and allows a user to manage risk, reward and performance at both a trade and portfolio level.

Stator allows a user not only to manage trading activity but also to use this information to help become a smarter trader. For example, a user can analyse trading statistics to comprehensively assess and enhance trading strategies.

All of the features mentioned above are encapsulated within two versions of Stator – Stator Standard and Stator Professional. Stator Standard provides portfolio management for a single currency and trading instruments like shares, share CFDs (leveraged or GSL), options, managed funds, trust units and warrants. The Professional version accommodates all Standard version functionality plus multiple-currency trading and support for more complex trading instruments including foreign exchange, index CFDs and futures.

Frequent upgrades to Stator meet the needs of traders and the changing face of the trading landscape. A user can upgrade to a new version from within the program itself, which makes upgrading an efficient process.

Proudly Australian made, Stator enables a user to manage trading activity with a truly global perspective. In-depth reporting, data exporting, dividend and trust income management, performance statistics, trading pools, accounts management, performance charts and a trading journal are just some of the many features which are included.

A full range of tutorials, material and support is available online and an electronic help file is included within the software.

Your Trading Edge

Does Daryl have anything new to say in this book, or does the book contain a more concise treatment of the ideas expressed in some of his early books? Possibly both.

If you haven’t bought any of Daryl’s books before, then it could be time to stick your hand in your pocket and buy two: this one, Trend Trading, and his book on risk management, Better Trading, which I reviewed a year or two back.

Drawing on his market experience and building on an ever-growing understanding of the tools he uses to trade, Daryl has put together a concise book dealing with many of the challenges faced by traders. The catch is that adhering to the guidelines he suggests will test the patience of market students. If a trend doesn’t exist, don’t trade.

The usuals are there, such as his count-back line technique, multiple moving averages and an exploration of Darvas trend trading. While, once again, this is not the ultimate book on technical analysis, it does have some important lessons for both the novice and the experienced trader. It is easy reading and written from the perspective of someone who has made money in the markets – not just talked about doing so.

Remember Daryl is a trader. That’s how he makes his money. To me this means he is worth listening to, especially when the thoughts are expressed as well as they are in this book. Together with Trend Trading, keep in mind my earlier comment about the value of understanding risk management from your own and your trading account’s perspective, and get a copy of Better Trading.

Trader One

I have found Seismo to be the perfect answer to the challenge of defining and assembling all the elements of a good trade. It provides both a training system and a fully customisable charting package. Seismo teaches a trading system that employs indicators such as trend, candlesticks, support and resistance.

The installation process is through a first-rate customer service line where the instructor guides every client through the setup process, which saves an enormous amount of time. After this first training session I was confidently able to use the program.

I was happy to find that the instructors tailor their training for each client. Being a CFD trader, I was trained on the CFD-specific functions as well as the standard trading functions. Apart from the phone training I found the Powerpoint training modules on indicators and on the recommended trading method to be very easy to understand and apply.

Seismo has functions for tracking positions in equities, CFDs, options and warrants that facilitate risk management (importantly for CFD traders this includes the margins and the interest component). This means that trade positions can easily be tracked enabling the user to adhere either to the risk management rules that the Seismo training prescribes or the user’s own criteria.

The scanning tools and indicator templates are already set up with the Seismo prescribed parameters, but are also very simple to modify, so an experienced trader can experiment with different settings. I love the user friendliness of the package, the various ranking filters and especially the alert system, which allows you to add your own notes and ideas about the share. The program also contains many other sophisticated indicators and functions, so it adequately accommodates users who are able to develop their own trading system.

I want to emphasise how easy, practical and enjoyable the Seismo program and training is to use, even for a still relatively new trader like myself. n

Trader Two

Seismo>ShareChart is a software program designed to assist beginner and intermediate stock market traders and investors to get off the starting block and improve their performance. It is, in essence, a charting package inclusive of an inbuilt trading system and proprietary market searches in addition to most standard charting tools such as MACD, RSI and Bollinger bands, as well as unique CFD tools.

The software is very simple to load and its basic mechanics are easily grasped within the phone training provided (approximately three hours). Those who like to consider fundamental data would find Seismo’s data package of interest as it contains both technical and fundamental information. The data serves a dual purpose in updating an inbuilt basic portfolio management service that enables the user to track the open position value of their equity and CFD holdings.

The proprietary market searches contained within Seismo>ShareChart would be best described as a collection of ‘white box’ systems, as the trading and investment concepts are able to be clearly defined by the user. They allow amendment of such factors as time period, and the addition of price, volume and indicator filters.

Careful thought has been given to providing some stand-out features such as an interactive alert system that is displayed as and when the user-defined conditions occur, and a clever interest and margin calculating function for CFDs. I was also quite impressed with the ease of navigation around Seismo>ShareChart.

At present it is not possible for users to develop their own indicators or specific search functions. My understanding is that the staff at Seismo are happy to consider any sensible trading system suggestions for incorporation into their package. However, I feel Seismo>ShareChart would be of limited value at present to the advanced trader interested in system design and back testing.

Seismo’s customer service intention is clear. They are not simply a software and training company, but an organisation dedicated to assisting those who wish to develop their trading and investing skills. In addition to the software, a brief overview of technical analysis is contained on the educational CD that accompanies the software and further tuition can be purchased if desired. n

Trader Three

Seismo is an equities and equity derivatives charting package that offers access to market data from Australian and other major stock markets.

The outstanding feature of this package is the training provided. The software and training manuals are supplied on CD and Seismo also provides telephone installation assistance and training for all clients.

Seismo charts instruments in separate windows and allows application of various charting tools, charting indicators and the design of basic trading strategies by allowing price, volume, and indicator change tracking. The CFD support is exceptionally strong, allowing the trader to define his/her own risk profile and match it to the broker through whom they transact.

I found Seismo’s filtering ability extremely appealing. Even an experienced trader finds it difficult to track changes across multiple instruments and markets. Seismo allows the trader to define their trading rules and then search for all instruments that have passed or failed these trading rules. Multiple rules can be designed, stored, and accessed through a single mouse click, making market review and decision-making extremely easy.

In my view Seismo is an ideal package for beginner- to medium-experience level equities traders. I would advise these traders to trade through brokers that use Seismo, too. This will make communication between the two straightforward, allowing the broker to provide trading advice by phone.

The training offered with Seismo is essential, in my opinion, and should be undertaken by any trader who wishes to trade equities or CFDs. I recommend it strongly, because it provides a short yet comprehensive course in charting, strategy review and trading application with an introduction to indicators and trading signals. It will reduce the time required to read the signals with confidence, and the potential losses due to lack of charting experience.

Seismo is an excellent product, which I would recommend to any equities or CFD trader, particularly newcomers to share trading.

Seismo Response

Seismo has developed a total solution to assist traders, investors and market professionals achieve consistent returns and manage risk – in all market conditions.

Seismo systems are used and recommended by stockbrokers from some of the world’s largest investment banks. Seismo’s powerful market scanning and new CFD tools are highly regarded by share market professionals and traders of all levels.

Seismo provides an intuitive and integrated approach to software, data, training, brokers and CFD providers – at a fraction of the ongoing cost of older packages and seminar based training courses.

This total Seismo solution is designed to get traders and investors up and running quickly without the need for expensive and time consuming training courses. We provide in-depth telephone installation support and ongoing training for all clients. This saves months of difficult, costly and unnecessary experimentation, which is often required with older, more complex, systems.

Seismo>ShareChart does not currently allow users to code their own scanning or indicator criteria. Our research shows that less than five per cent of traders world wide request these features and few have the necessary IT skills or desire to program the coding languages required. (Back testing will be added as a future upgrade.)

Seismo’s powerful ‘point and click’ market scans provide fast, accurate and reliable results without the need to program.

Seismo has an enviable 87 per cent plus annual client renewal rate and we are committed to the ongoing success of our clients while encouraging maximum trading and investment independence for all.

Your Trading Edge

Okay, there are some people out there who want to do more fundamental analysis than just look at the index of Roth’s book, Top Stocks 2004. Chances are though that you don’t know where to start. Well, Mr Roth has given you a good start. While you won’t finish the book as a CPA, you will certainly have a much greater understanding of how he, as a fundamental analyst, does what he does so well.

One of many challenges is seeing through all the marketing glitz that is used to embellish a company report. The lessons and insights in this book give you tools and help you to develop processes for slashing through the hype to the core issues, so you can decide whether the company is sound enough to invest some of your hard-earned money with.

The author also provides suggestions for portfolio monitoring, which gives even more value to the book, as it makes company analysis relevant to the reader.

This is the fourth edition of this book, suggesting that it is both a worthwhile book in its own right and that it is regularly updated to match the changes in company reporting practices and requirements.

While all the usual terms like EPS and PE ratios are discussed, Roth expands on their use, giving insight into their relevance and application. Although he comes out with ratios and comparisons that I had never heard of, I realised that they add to the clarity and reality obscured by the company spin-doctor’s marketing hype. The book is certainly worth an hour a night at your desk with a calculator for a month or so, as you internalise and apply the concepts Martin Roth presents.