Power Trading Power Living

by Michael Parness

Book Overview

Power Trading/Power Living could go down as the "Bible" of trading in the not so distant future. The book, a follow up to Michael's International Best Seller, and critically acclaimed - Rule the... This description may be from another edition of this product.

• Format: Paperback
• Language: English
• ISBN: 0974339121
• ISBN13: 9780974339122
• Release Date: May 2005
• Publisher: Ultimate Books
• Length: 244 Pages
• Weight: 1.30 lbs.

Customer Reviews

Read before you judge

I have 8 books on Day Trading, 3 on Technical Analysis, and have traded stocks and options for years. I found Power Trading Power Living to be a great book and don't understand all the negative reviews. They seem to address the trend fund program more than the book. The book simplifies charting and gives great guidance on profit taking (trending up) and limiting your losses (trending down).While reminding you to always risk only your comfort level. This is one of the few books I can claim has not only provided an excellent education but following the recommendations have actually made money. It is clear, concise, and should be mandatory reading for anyone day trading. I found myself using it as a reference and reviewed the charting and guidance suggestions regularly. Buy it new, buy it used (much cheaper this way) but it is definitely worth a read.

Good intro book to trading

Look no doubt Parness wants to make money through telling his story of going from rags to riches and his infomercials and his website. And other reviewers cynically (and perhaps aptly) reflect that. But his first book introduced trading to totally non-professionals in a breezy understandable manner. And this book tops that. Concepts and arcane financial terms are explained in very matter of fact language with very solid illustrative examples to help you get the point. Moreover, he explains in no uncertain terms just exactly what you are seeing and what exactly is going on and how to interpret Level II quotes. He provides an overview that without going into arcane language that only an experienced trader could possibly understand (and would, ergo, not really need since they would know all this) he puts fresh clothes on a very elusive subject for many. Something other books tend to take for granted with their readers and what makes them more often than not all the more difficult to understand usually. What's more he offers strategies and observations that are more understandable and sensible than most other authors provide. Will you become rich overnight? That would be an overpromise for sure. But you wlil at least begin to understand market dynamics on a very human level and what you need to know and what to now look for in setting up profitable (at least in my experience) trades from entry to exit. Assessing risk and potential gain or cutting bait and running. Whether going long or shorting. Trading intraday, range or swings. He takes his time to explain everything in very understandable language that's not over anyone's heads as others frequently do. Coupled with a book that provides fundamental understanding of candlestick charting (like Martin Pring's "Candlesticks Explained" or Stephen Bigelow's "Profitable Candlestick Trading" and by the way forget Nison's famous text on Candlesticks....waaaaaay too complicated and unpredictable in my opinion) you have some formidable information to actually make a sizeable profit in this market or any market. In short there's probably no better introduction to day and swing trading for a total greenhorn than this one.

You did it again

After reading your first book I really didn't know what to expect from this one. As usual, I was pleasantly surprised at the ease and style of Michael's writing. This is a genius who deals in the factual basis of making money in the stock market. I know this subject has been beaten to death but Waxie's approach is uncoinventional and it works. It takes the risk of being a day trader out of the trading decision. Limit your loses and maximize your profits. The theory is as old as the hills but we seem to forget it when we let conventional brokers destroy our hard-earned portfolios. There is always an excuse but the end result is you are the one that loses and you should be the one responsible for making a profit. With Parness as your mentor you just can not fail. This is a must read for all day traders and also for anyone with conventional brokers' losong strategies. Written in plain language that anyone can understand. You have nothing to lose and everything to gain by reading this book.

Follow the Plan!

The book is good, but half the battle in succeeding in day trading is controling your emotions and adhering to a trading plan. Without either, you will fail for sure. This book along with Waxie's Trendfund.com's other products are very educational. Those that may have failed after reading the book or trading in Trendfund's chat room have not applied the skills that Waxie mentions in both his books.

Book is WELL WORTH THE READ!

Why would anyone take the time to write a review on a book they have never bought or even listen to them as the previous writer stated? How idiotic is that. You have way too much time on your hands. I have read the book. It is very insightful, and well worth the money for $69.00. Sounds like the previous writer has a bad case of not listening to calls Waxie or Tiny and the other staff make or he would not say he isn't making money. Go write your own book if you are so knowledgable. Oh well that is his problem that I won't make mine. Learning the 10 AM rule is some of the best advice there is. Learning how to manage your money and the trends is where Michael is miles ahead of others. Kudos to the book, and highly recommend! Well worth the read.