has anyone read this book?...im thinking bout getting it but heard it is filled with technical terms and definitions...i dont use technical analysis for my trading so does anyone know whether or not its worth it to get this book?
underground.com book by Jea Yu
- Thread starter AnonTrader
- Start date
I have read that book already a longer time ago.
It's a good book on day-Trading US-Stocks.. Nasdaq! For someone that wants to begin trading he gives very good basic information on how to trade on the nas. I specially like his basic philosophy.. it's not the $1'000'000 trading kind of book.
And yes.. it is 98% technical.. beside the little psychological content.
alain
It's a good book on day-Trading US-Stocks.. Nasdaq! For someone that wants to begin trading he gives very good basic information on how to trade on the nas. I specially like his basic philosophy.. it's not the $1'000'000 trading kind of book.
And yes.. it is 98% technical.. beside the little psychological content.
alain
I personally didn't like it. I found the chapter on routing unclear (it's outdated by now anyway). The methods presented uses stochastics which gives many false signals and if you time your entries on nasdaq futures 1 min. the way described in the book (wait to see NQ going up then buy) you are going to be whipsawed quite a bit I think because with just the 1min. you don't see the big picture and many stocks will start moving 10-25 cents at the same time or just before the NQ move. When NQ reverses in a flash like today at 1:15 !!you are down 10 cents before you know it.
The content of the book may have been good but I believe
the book was very poorly written. It was just a bunch of
ideas put together with no start and no end. Jea needs
to take a writing class and learn how to organize his book
better.
I believe decimalization and current market conditions killed his trading style.
Quick and easy 1/8, 1/4 and 1/2 point scalps turned into 2, 4, 6 cents scalps now.
the book was very poorly written. It was just a bunch of
ideas put together with no start and no end. Jea needs
to take a writing class and learn how to organize his book
better.
I believe decimalization and current market conditions killed his trading style.
Quick and easy 1/8, 1/4 and 1/2 point scalps turned into 2, 4, 6 cents scalps now.
DGabriel,
Jea feels that no-one can trade successfully while at the same time lead others' trading moves - there's just too much to do, especially because of his favorite timeframe (1- and 3-minute charts.) Many other trading tutors/leaders follow the same approach - and some who don't are sometimes accused of 'front-loading" their trades. It's a complicated situation: damned if you do, damned if you don't.
My perception is that Jea is an excellent trader, presentor/author, and businessman. After all, who's to say that someone else in that room is not taking trades for him?
What matters is if you like the room approach and atmosphere and if you can get good results from it. I know many who feel that way, although the trading pace there is a bit too fast for me.
i just got this book and read like the first 4 or 5 chapters...i find the book really interesting so far IN THEORY...any validity to his theories about the technical analysys (esp. the 5 and 15 pd MA) and how the various MMs act?