High Probability Trading Strategies: Entry to Exit Tactics for the Forex, Futures, and Stock Markets (Wiley Trading)

I have mostly positive things to say about this book, but there are also some things I didn't like. On the positive side, Miner lays out a trading plan that is comprehensive and specific--much more so on both counts than you are likely to find in most other trading books. He presents four tools to work with: multiple-time-frame momentum analysis, pattern (simplified Elliott Wave analysis), price (using Fibonacci concepts, but much more robust than the typical Fibonacci treatment) and time (also using the Fibonacci framework, but again, more robust than the usual treatment). Moreover, he devotes a good bit of space in the book to examples that show readers how to use these concepts, including entry, exit and position sizing considerations. Also, Miner appears to be the real deal. He has actually won a real-time trading contest and speaks from long experience as a trader. You'd be surprised at how many so-called trading gurus have minimal or no trading experience. It's hard to know for sure, of course, but I think Miner's trading credentials are genuine. A CD is included with the book to add another dimension to the learning experience. All in all, you can tell that Miner has expended considerable time and effort to make sure that purchasers of the book are rewarded for the money they've invested in it. For those who are wondering about the differences between this book and Miner's earlier work, "Dynamic Trading," there are several things to be aware of. The primary addition to the new work is multiple-time-frame momentum analysis. This is a major component of Miner's strategy. It is the first concept he discusses in the book, and it is the key component he uses to screen for trading opportunities. In my opinion, the book is worth having merely for that reason. Beyond multiple-time-frame momentum analysis, Miner has simplified his discussion of pattern, price and time from what we saw in "Dynamic Trading." Realizing how ridiculously complex Elliott Wave analysis can get, for example, he presents one feature to look for (overlapping) to determine whether the market is trending or correcting, and three other tools for identifying trend and correction position. Despite Miner's attempt at simplifying, I'd say the book's level of difficulty is relatively high. It is not a book most people will be able to breeze through--mainly because of the numerous examples--but it is one that will repay careful study. And, as I said, one advantage of the book is that you are getting a comprehensive trading framework. If you read only this one book and faithfully follow Miner's advice, you should have everything you need to be successful as a trader. It is helpful, but not absolutely crucial, to use Miner's Dynamic Trader software when implementing his system. I think the software would be especially helpful if you are trading on shorter time frames. Certainly for trading from daily charts, and possibly for shorter time frames, it might work to use a spreadsheet or a calculator to make the relatively simple calculations that are required. Ultimately, this is a question readers will have to answer for themselves. In my opinion, much of what Miner teaches can be implemented whether you own his software or not. Now for what I didn't like about the book. Miner has a brash, arrogant style of writing that I find tiresome. He also makes a habit of belittling virtually every other source of trading information, as though he were the only honest, competent vendor out there. Hence, you frequently run across sentences like this one on page 56: "If you ever read a trading book or take a trading course where the author/instructor does not clearly state that whatever strategy he is teaching will not be profitable with every trade, and doesn't show examples that don't work out, get out as quickly as possible before it costs you a lot of hard-earned money." An occasional warning like this would be fine, but Miner's prose--while clear and easy to follow--is unfortunately laden with such heavy-handed admonishments. Additionally, I find Miner inconsistent on some key points. For example, on page 23 he rails against trading instructors who present methods for trading in trading-range markets. Says Minor indignantly (and in italics), "You can never know in advance if a market is going to begin a trading range--never." But later in the book, he presents tools to determine whether the market is trending or correcting, and whether the trend/correction is close to completing. If a correction is something like a trading range, which seems a reasonable assumption, isn't Miner, in effect, proposing that we can know what he earlier said was impossible to know? What's more, after spending most of the book trumpeting that his tools will enable readers to trade with high probability, he announces on page 158 (while hammering home the importance of limiting losses), "Listen up, reader. If you have better than a 50% winning trade percentage over time, you are among the trader elite. If you get good at trading, you will have around a 30% to 40% win percentage." I don't know about other readers, but I was stunned to find that after employing all of Miner's tools, the best I could hope for was probably only 30% to 40% accuracy. That puts Miner's methods about on a par with a number of completely mechanical trend-following systems. Despite these quibbles, I found "High Probability Trading Strategies" extremely worthwhile. I don't buy many trading books any more, but this is one I'm glad to have in my library. I will likely use it, in conjunction with some other tools I have that are geared specifically for the stock market, to trade stock index futures and ETFs--and hopefully raise that win percentage!

A glance at my bookshelf shows 11 titles on trading the stock markets accumulated paradoxically over 11 years of trading! from this position I can say that Robert Miner's book is one of the best you will read! Certainly, the tools he presents will cause you to get out your calculator and do some work but it will be well worth the effort. Robert has some 20 years trading experience with a sprinkling of trading awards to his name and his experience shows in this book. I found the Fibonacci discussion to be particularly useful for its demystifying of the Fibonacci principals. I must say that the honesty of his writing was truly appreciated and although he has a software program available for sale, his book should not be considered a sales push as everything he talks about can be used with any charting system you like. That being said, I appreciated his honesty and the content of the book that much that I bought the software, which I now use exclusively and love it, there is no doubt that with his book, his course and his software, studied and used correctly, you will make money in the markets! And if anyone is wondering if he backs himself and his software product, I can tell you that recently I had an issue that his tech team couldn't fix and I received a phone call from Robert himself to resolve the issue! Now some may think that unremarkable, but I live on the other side of the world which meant that Robert got out of bed at midnight to make that call!! As a trader I love his book and his software and as a business consultant I have been blown away by his product support.

I have read a ton of trading-books - mostly from Amazon...Many are good; some are not so good..This is the best trading book I've read...I am about 1/2 way through - but am so impressed I could not contain myself...It yields many benefits: 1) The tools are applicable for any market and any time-frame - what more can you want! 2) The tools are NON-Overlapping - that is he uses Momentum, Pattern, Price, and Time in an integrated system...Most of you know for example using a system with just Oscillators is not too good. Even though you may use STO, MACD, RSI - they all give you the same info basically...So Miner uses separate approaches to arrive at trade targets! This leads to higher probability trades. 3) I have read books on Elliot Wave - and really couldn't use it in real trading...Miner breaks it down to practical tradable techniques. 4) This guy can teach! He builds the system step-by-step. He has enough repetition so you really absorb it...I have read other Trading Pro's like Connie Brown (e.g. Fibonacci Analysis; TA for Trading Professionals) and although Connie is obviously a genius and a supper-trader, he books are very "labor-intensive" for the reader - you have to dig out the gems...But with Miner's book it is all laid out!!! One caveat - you should have a good understanding of general T.A. theory before reading this - may I suggest Murphy's books (e.g., the visual investor and/or T.A. of the financial markets). What can I say, Miner delivers in this book... I will update this post when I finish reading it. Best wishes to all! -Joe

I got this book a year ago, and instantly appreciated it's value. It's a work that is perfect for me, (and maybe you)? as the dedicated, "almost-there" aspiring professional trader. I'm not sure it's a work which would be appreciated by total beginners - it is only because of much hard work, hard knocks and experience over the last four years that I've been able to discern it's value. Clearly, this book is a distillation of Mr Miner's work over the last 20 some years. I've adopted the HPTS way, and have just completed my best, most consistently profitable year yet - despite still making plenty of mistakes. It's value, as I see it, is this: * Miner insistes on trader education, and that we treat it as a business. * Miner insists we understand certain principles, on which are based specific trading rules. This gives us some flexibilty - not emotional wriggle-room, but the ability to adapt to a situation which does not line up perfectly. These principles are what I always come back to when I get confused. Then the way is clear. This gives us a intellectual security which you just won't have if trying to trade, say, a rigid rule-based system. * The trade entry and management methods I have found to be life-saving. My entries now are always accurate (objective, to use Miner's distinction), and the management methods work brilliantly to avoid early (emotional) exits, and usually secure at least a reasonable profit. The losing trades are also objective, and easy to accept. The HPTS way has to be adapted by the individual to fit. You have to limit your markets and setups. For instance, although we are taught to project the end of wave 5 of a major trend, I usually get my clock wiped trying to trade that reversal, so now I simply don't look at end of wave 5's. The DT software is perfect for the job, and I appreciate that it is specific to Miner's methods, and not trying to be all things to all traders. If you have embraced and discarded various approaches, and are yet to realise consistent profitability, I do recommend this book and CD. I'll see you on the right side of the trade.

Over the years I have purchased literally hundreds of books focused on trading the markets. I have also attended numerous trading courses live and online. I wish this book was available years ago. I could have saved a lot of money. If you are new to trading and technical analysis you may want to get educated in some of the basics before attempting to apply the strategies outlined in the book because you may find some of the discussion a bit overwhelming. That is not essential, however, but it will probably make it easier for you. This book is the whole meal deal. It covers all aspects of a trading campaign from finding your potential candidates, entry and stop placement, taking part profits and protecting your remaining profits as the trade continues to move in your favor through the final exit. There is also a section on money management and position sizing which is ctritical part of any trading system. The book and accompanying CD trade examples are very effective in illustrating the strategies. If you apply the strategies as described and rigidly stick to the required discipline to preserve your capital and profits you WILL make money. Do yourself a favor. Buy the book, study it, and apply it and forget about spending $3000 on that weekend course that will more than likely only leave you having to spend even more money to access the presenter's "secret formulae".

I have read this book & agree with some of the other reviews that the writing style is a little annoying when the author feels he must repeatedly point out that his book is "better" than other "frauds" (my words, not his) that only cherry pick historical chart patterns to supposedly demonstrate their trading system when in reality they have no predictive value. I usually always respond better to salesmen who sell on the merit of their own product, not by bashing their competitors. But with that said, I was actually very intrigued with his multi-pronged approach to trading/investing and was very excited to try the strategies out once I finished the book. Unfortunately, I ran into a little glitch (a big one, actually). The problem is that I have yet to find a trading platform or software (for either forex or stocks) that is capable of doing everything he describes in his book. So to that extent he is still basically writing a book that is tailored to his one proprietary piece of software that happens to cost $2,000 just to be able to fully implement & try these techniques. For me, that's not feasible. If I had $2,000 to blow on an "experiment" just to see if his techniques really work then I probably wouldn't be so concerned about trying to generate more money through investing because I'd already be "rich"! The author doesn't exactly do what it appears other writers have done where their book is just a full-on "sales brochure" for their own software, website or newsletter. Its not a blatant deception because I do think that the rationale behind the strategies he explains COULD possibly be used to work with any trading software system -- IF ONLY there were any other programs out there that were capable of doing exactly what Mr. Miner's proprietary software does, which he obviously hired somebody to tailor make for him to sell. So to a certain extent I believe the author is willing to share his techniques, knowing well that after reading his book the reader is not fully able to implement his system (to the best of my knowledge anyway) without ultimately looking up his Dynamic Trader program on the web once the reader discovers that their current online trading platform or other charting software doesn't do everything exactly the way Mr. Miner's does. Then the reader will naturally check out Dynamic Trader on Miner's website, as I did, and discover that it costs $2,000.... I believe he does mention TradeStation (which is an independant program/service) a few times in the book as a possible alternative, but at $250/month, even Robert Miner's software sounds reasonably priced!!! So it appears to me that the book is a very subtle bait to direct people to buy his own software program. He's not a predator like a lion that pounces on his prey in an ambush; he's more like the sly little spider that just sits back & waits for them to stumble into his website after discovering that they have no other options available to implement all of the strategies in the book. Note that I say ALL, not SOME of his stategies, because it is still true that a few of the less exotic things can be done with most types of software, but for the system to really be "high probability" as the title says, you need to follow EVERY SINGLE ONE of his techniques and use them in conjunction with each other, and that is where my frustration lies because I have yet to encounter a trading platform or charting software that allows this. Sorry Mr. Miner, I believed in your book enough to buy it, finish it & go out & try to use the techniques, but I don't believe in it enough to part with $2,000 just to try them out. There isn't even a free trial offered on his website. You've got to buy the software & hope for the best once you've purchased it. So to that extent I was pretty disappointed. I hate to say it, but right now I'm a "small fish" in the world of investing; is there no reasonably priced software that can accomplish the techniques of this book?! I would appreciate any advice somebody who is familiar with this book can offer to point me in the right direction if you know of REASONABLY priced charting software or trading platforms that are capable of measuring & reporting ALL of the indicators that the author describes in his book. Scottrade doesn't offer it, and Gain Capital's Forex Trader Pro doesn't cut it either. I did an online search for other types of programs to purchase (granted, I was looking for a significantly less price than $2,000 or $250/month), but haven't really been able to find much that I'm confident enough will work to go ahead & purchase. I simply won't know if it can do everything Miner describes in his book until I've already spent the money & may just find that I'm still out of luck when it comes to being able to follow the strategies in this book. I am very leery that the techniques of this book are best implemented with one & only one program, which is Robert Miner's $2,000 Dynamic Trader. Before I'd spend that money on a leap of faith in Robert Miner, I'd rather spend a fraction of that money on other authors' books to expand my knowledge until I have a more well-rounded idea of what authors are really here to help novices like me vs. those who are only out there to sell, sell, sell their own expensive products. I believe Mr. Miner MAY be in the latter category, but am holding out hope that somebody who reads this review, and who knows this book can point me in the right direction to economically implement his strategies. If there is something out there that I'm missing then please do share, as I would love to know where it is so that I can give Miner's method a try. Unless there is the opportunity to use any of a variety of reasonably priced programs to employ the methods, then any potential buyer of this book should understand that it is interesting but essentially worthless unless you're willing to spend another $2,000.00 on the Dynamic Trader software. And only THEN will you be able to put his methods to the test & see if you win or lose with his trading system. That's a pretty big gamble, in my opinion, to justify buying his Dynamic Trader software.

After reading this book I believe I learnt a lot more about fibonacci clusters including price as well as time clusters to identify hgih probability pivot points not immediately obvious to untrained eyes. This book basically delivers on the titles name and Robert includes a useful cd which demonstrates in real time how the strategy might be used over various time periods from 5min to daily and weekly charts in various markets. All round I think this book is worth the purchase price as I already use fibonacci as part of my trading and it has outlined some areas and key fibonacci applications that I was not aware of, particularly how to identify in advance where not obvious potential support and resistance are for profit taking. Not to mislead anyone this book is not just about fibonacci techniques it also outlines how to use a DTOSC oscillator (a combination of RSI and Stochastic) although from what I have read, this is available only in Roberts own platform... which is not all that useful for someone who doesn't use it.... Despite Robert giving many plugs for his wonderful dynamic trader trading platform, I still think that any book you can learn something from is a good book... and this one will definately stay on the reference shelf for a while yet...

This is one of the best book I bought on trading. The method suit my trading style very well as a swing trader. It helps me to systematically identify whether the market is in a trend or correction and what position it is in - at the start, middle or end. The title of the chapter on Beyond Fibonacci Retracement is indeed most appropriate. It provides the most systematic method of determining when a trend or correction is likely to end. On the multiple time frame momentum strategy, I wonder why I have not used it before. It is the most logical way to filter a trade set-up. What impressed me most is that all the subjects covered in the book are very clear and objective starting from how to identify a trade set-up, the entry and exit strategy, position sizing and how to manage trade from entry to exit. It also comes with a video CD. The 4 trade examples in the CD helps to enhance the learning.

Take time to read this book if you are serious about learning trading. Detailed trade plan with excellent insights. Thanks Robert.

Muito bom

The content of the book is great. The quality of the print is bad, as it seems for every new Wiley book sold. The print is advertised as a hardcover, where actually it is not, its a paperback (gluebonded) inside a fake carton cover. In the first page it says "Printed in the United States of America" and "Printed on Acid free paper" where in the last page it is written "Print and bound by CPI Group (UK)". First picture is the book for sale new, second picture is the actual book.

I first found the Forex market in Feb 2009, having had no previous experience in the financial markets. I run my own business, saw we were heading for a serious down turn and I really wanted to find something that seemed to be `recession-proof' to run along side the `day job'. I'm embarrassed to admit, as a no-nothing, I spent a few hundred pounds on a DVD training course with Internet follow up (okay, okay, I was a total mug; I'll admit it!) and got started with my education. I eventually moved on from my original `mentor' and joined a `live' trade room with really good education. These guys were very good and I learnt a lot but I still didn't really know how to make consistent profits! Through a circuitous route, I got really interested in Fibs and after buying a couple of obvious books on Amazon that didn't really do it for me, I was introduced to Robert Miner's `High Probability Trading Strategies' book via a reader review. Cue the Ah-Ha moment! Soup-to-nuts; cradle-to-grave; call it what you like, this book provides you with completely objective trade strategies that build into a comprehensive trade-plan for trading any market (not just Forex; it's equally applicable to stocks, commodities, etc), in any timeframe. For me, it provided precisely what I needed. No more guessing where to place my Stop; no more leaving money on the table on a regular basis because I had no idea where the market might go; no more wondering whether or not this really IS a trading opportunity! The book is written in a no-nonsense style and the concepts are explained extremely clearly although, as you would probably expect, it does take work and some time in front of the charts to build your confidence, but the effort is certainly well worth it. As a book owner, you also get access to the HPTS website, where Mr Miner regularly adds additional training material. If you haven't had the success in trading you really want; if you feel you are so close but just missing that last piece of the puzzle, or if you are just starting out; I cannot recommend Robert Miner's education material highly enough. `High Probability Trading Strategies' is a superb book and the CD that is included in the `physical' package; where the strategies are further explained via a number of bar-by-bar examples, in `real-time'; is a fantastic aid to helping you to develop your understanding of the material. I am indebted to Mr Miner for lighting the path. Who else gives you so much usable information (in and beyond the book) at such an affordable price? Buy the book, put in the time and take your trading to the next level.

c'est un bon livre pour commencer sérieusement à trader. Ne vous faites pas d'illusions, le méchant marché vous aura si vous ne continuez votre formation.