Here is a review from a student which has been posted at Amazon.co.uk. You can read the review by clicking here 5.0 out of 5 stars Best Trading Manual Available, 28 Dec 2012By Cyclops – See all my reviews
This review is from: Making Money From Financial Spread Trading 2012 edition (Ring-bound)
If you’ve ever considered becoming a trader and didn’t know where to start… this is where!
Whether you are a beginner or a trading veteran this manual is a must read. Vince Stanzione takes you through step by step how to trade using technical data (graphs) when to get in and when to get out of trades, how to spot potential trading opportunities and how to protect your trading funds using a percentage system and “stops” so that you never risk losing too much of your pot.
One of the things Vince teaches is that you WILL lose on some trades, everybody who trades does, if they say they don’t then they’re either lying or deceiving themselves. The trick is though, to lose small amounts on the losing trades by getting out early but make big amounts on the winning trades by staying in for the long run so that your gains on a few good trades far exceed the some of your losses on all the losing trades. You don’t expect to get in right at the beginning of trades because there is no data, but you wait for the data to build and look for signals that indicate the trade is going in a particular direction. Once the data has acumalated and consolidated, then you put small amounts on the trade to test it and if the signals prove correct you build on it. Equally you can’t hope to get out of the trade exactly just before it retraces as there is no data but by using certain signals which he will explain to you, you will get out shortly after the peak. This ensures you get the max out of the trade by staying in as long as is safe but without jumping ship too soon.
Many traders try to make every point count because they are too retrospective about what they could’ve, should’ve, would’ve done with previous trades based on what happened after they made their decisions and they kid themselves that next time they can get in and out at exactly the right moment but Vince’s teaching is that this just is not possible and you’ll die young trying! The best approach is to try to get in just after the opportunity shows it’s self and to get out just after the opportunity has passed, but sit tight and make sure things are going the way you think before making your move. OK so you miss a few points both ends but you make plenty in the middle without hopping in and out due to false signals and needlessly losing money in the spread as well as lost points whilst out of the trade.
For these reasons, most of his trading is based on mid to long term trades rather than day trading or shorter, so you won’t be glued to your screen for hours each day on tender hooks trying to scalp off a few bucks moment by moment. Vince’s system is much more laid back and can fit in around any job providing you can get to a computer or any device with an internet connection and a suitable screen on a daily basis for about half an hour to an hour to begin with. Once you’re proficient it should only take you about twenty minutes. Even if you can only manage a few times a week you can still trade with Vince’s system and there’s no need for expensive real time software or memberships to sites with live streaming either as all the information you will need is available in graphs that update every few minutes, or hourly or even daily which are normally free.
Furthermore, you will learn that with Spread Trading, it’s not all about what’s going up in value but also what’s going down! You can make money on falling prices as well as rising. In fact if you follow his system you can make money on a trade as it rises then switch and make even more money as it falls!
In short A GREAT MANUAL which should be kept at hand by every trader.