New Market Timing Techniques: Innovative Studies in Market Rhythm & Price Exhaustion

Very informative

Excellent book for learning new timing techniques for the Forex market

The indicators may or may not be useful (I haven't tried them), but DeMark needs to learn how to write. He has long, wordy descriptions of his indicators with almost no formulas or examples. I have to read the descriptions several times and even then I'm often not sure what he is trying to do. The book is full of run-on sentences with 5 or more clauses each; it has more commas than periods. He describes how many indicators work for both increasing and decreasing prices in one sentence, switching back and forth between the two in a very confusing manner.I think he has good ideas about indicator construction and if you can get through his horrible English the book is probably useful.

There are both good and bad things about DeMark's book.Good - two chapters on Sequential and Combo. It is the most detailed examination of the various contingencies one finds himself in when applying these indicators. The text is sometimes copy/paste identical - but that's partly because the indicators are similar.DeMark took a very intuitive, but confusing notion of trend exhaustion and designed two systems around it - built primarily on the time aspect of trading.I also find DeMark pivots useful in combination with other indicators.Bad - droning monothone of the presentation. The two "good" chapters, for example, would have benefited greatly from a flow-chart presentation of the indicators.Bad - excessive self-aggrandizement and trade-marking of things known long before him. Retracements - both relative and absolute - go back to at least 1920's. Similar for TD Lines, TD Channel I-II and, let us not forget, TD Wave...I guess, I wouldn't mind if he were to simply explain why 1/4 of a Fib. retracement makes a good daily channel (because it's so darn close to a round number of 5%) - it's the endless TD'ing of everthing in sight that is objectionable.

Unlike other technical analysis books, DeMark's two volumes on his exclusive indicators give you ready-to-implement formulas, and he discusses the logic behind those ideas. Whereas other authors discuss head-and-shoulders ad nauseum, DeMark gives you new ideas. You can implement his indicators (most of which don't work all the time, unsurprisingly), and can then think of ways to improve them. Of course, in the end, you have to keep in mind that the market is more or less a legalized casino, where only a lucky few can come out ahead in the long run. Luck is probably the most important trading system you'll need.

I guess our selfishness would make me reluctant to respond but if readers were to draw the same conclusion as the prior reviewer I can accomplish two goals at the same time. I lead a large trading operation at a major trading desk. All of our traders are taught the methods presented in this book and most are now applying them correctly using Thomson ILX and Bloomberg services on the trading desks. We have never been more profitable! I would prefer that no competitors use these exceptional trading tools. Nevertheless I would like to give the creator the respect and gratitude he deserves for sharing these indicators. The prior reviewer claims he programmed these tools but I doubt it seriously as our large software team with many PHDs and computer nerds tried to do so as well but they were incapable. To think someone with an obscure blog that has produced ONLY one or two recommendations and both were utter disasters, make negative claims is insincerity at a minimum and more likely professional jealously. Admittedly, the blogger claims a poor understanding of English and one can extrapolate that his understanding is lacking. Our recommendation is that the book is a great roadmap defining market price behavior for our traders. Hopefully, you will not read this texbook and leave us with a distinct trading advantage.

I just purchased this book as a Thanksgiving gift to myself. It was recommended reading for my MTA examination and it was recommended strongly by the head trader at Goldman as well as the head technician for Morgan Stanley. Although it is difficult to grasp all the information on a first time read, my second pass has given me a deeper understanding and appreciation for the research the author has conducted. It's not intended to be s ubstitute for my decision making, rather it is a complement and if I may say so myself, it is a ingenious perspective and definitely original. It's enabled me to perfect my trading style of selling strength and buying weakness. I can tell why the author has worked with the best minds and most successful traders in the investment industry.

I have been trading for close to 14 years. In engineering school and law school I did it as a hobby. I became fasinated with this author's first book but had many unanawered questions and given this author's inaccessibility to anyone other than professional traders I experimented myself with trading software trying to replicate his work. This more current book answered many of my questions and allowed me to research and experiment with derivations of his work. It has expanded my trading ken significantly. Objective appraisal of this book--difficult read and requires thoughtful evaluation and very careful analysis. But if one is determined to become a successful trader who is capable of making a living in this industry, this book is a member of the library.