Successful Stockmarket Speculation

Technical traders tend to turn their fomulas for picking stocks into gospel, to be religiously followed, a "discipline" is one of their favourite words. Ted Carter, in "Succesful Stock Market Speculation" puts forward a technical trading theory, in shall we say, a kinder and more gentle way. He comes to propose his theory in a round about way, bringing the reader to what is still a technical trading approach, but through an explanation of his logic. Through a combination of personal examples, humour and wit he lays the foundation for his approach easily and comfortably before getting into the nitty gritty of his "system." Sure, there is some dogma along the way - his favourite is "Never buy what your broker is selling" - but as with most of his homilies there is a persuasive logic behind it. When he gets down to telling you his trading approach the foundation has been laid for its reception. The actual technical theory, based on prices and volumes, is less mathematical than most. And while most technical traders are overly fond of the charts and hidden pictures they can imagine being formed in them [head and shoulders?], Carter' s technique is flexible, and refreshingly logical. His system uses indicators to alert the user to a stock that is just signaling that something may be happening, there is still more work to be done. He then expands on other factors he would consider, along with some useful, if not obvious, words of advice along the "don't bet the farm" line. His approach seems to work. The subscribers to his daily newletter, which incorporates his system in faxed or email format for those not wanting to do their homework, have done well over the past few years. And, most notably, for a man who knew the late David Walsh personally, Carter was one of the few advisors who got in and out of Bre-X in time. His book is easy to read, and his system easy to take.