Review Page for:  Short-Term Trading with Price Patterns, by Michael Harris (TB576)

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Posted on 7/12/04

by: PSchum

Rating: 2 of  5

Recommended: No

The author begins by stating that "ordinary chart indicators" are to slow to use for short-term trading. He doesn't present any imperical evidence to prove this theory. After dismissing indicators as useless he then explains that after countless years of investigation and testing, he has discovered "price patterns" that are over 67% correct when used for short-term trading. There is no explanation as to why these patterns work, only backtesting results that they do. This system of trading requires TradeStation and his special add-on software to implement. There is nothing in the book to help traders unless they buy his system. No Thanks.

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Posted on 7/12/04

by: Tymonster

Rating: 2 of  5

Recommended: Yes

This book may appeal to the most dedicated system traders out there, but for anyone who chooses to use any bit of judgement in any part of trading, there is very little if anything for them here. Perhaps the section about creating a daily trading regimen may be helpful to some, and the P-Indicator concept is interesting, but beyond that there is nothing that can be immediately applied to assist in or augment one's trading, as far as trade selection goes.

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