"Trading Day by Day" by Chick Goslin

"Trading Day by Day" by Chick Goslin (book review)

I was recently recommended this book by a trader I talk to in the states, it is an excellent insight into the methods used by a longtime successful trader, which Chick Goslin is.

Chick is not an intraday trader. He takes a position and will hold it until his oscilators and moving averages tell him it is time to get out which can be weeks or months. He has good insight into a variety of markets, as you will find in the book. Although the methods and ideas in the information in his book are slanted towards position trading, the principles are the same on long or short timeframes and can also be used in daytrading, I've found even on very short time frames although this isnt discussed in the book.

There are also some sound ideas for approaching trading as a business, money management etc.

I spoke to Chick on the phone before I purchased on a few occasions, and found him to be a genuine, "no punches pulled"-type, sincere, very knowledgeable, nice guy. The number on the website is HIS phone number.

Basically, this is one of the best if not THE best books in my trading library here. No flannel, just good information all the way through from someone who has actually made millions and still does from trading.

There is more info about this book and Chick at http://www.tradingdaybyday.com and I think its on amazon now too.

[Mod's note: It's also available for £40 in the UK from the T2W Bookstore here.]

Trading Day by Day is the best trading book I have read. It is fantastic. After buying a library full of trading and market books over the last two decades, I finally found a book that teaches a complete method with profit taking points and all. On top of that it is written by an author that is an actual trader (yes and very profitable) ---you can talk with him and ask questions directly!! Just call the phone number on his website! Pretty rare for a large trader to do this. Best 65 dollars---I have spent.

Just my 2cents. But if you are not a profitable trader or want to learn 3 line trading. Or even if you use stochastic/ or Macd, CCI ---this is the best book out there on actual concepts to take money out of the markets. If you are a Linda Raschke fan or a practitioner of the old school 3/10-16. This book is for you!

TGM

Suggest you order this book direct from Chic, Amazon UK want £94 for the same thing! Even with delivery charge I think you'd get it for about £60.

Martin,

'You think it is Amazon' - wot d'ya mean think ? U know it is, you wrote a review on it there !!

Wot ya tryin to pull old son ??

I ordered directly from Chick. He is marketing the book himself. In fact, it is only recently that he offered it on Amazon.

The General,
Take it easy on MartinD. This book has affected his trading so positively that I have read his review of it on MULTIPLE websites! Anyone that puts up positive reviews on a handfull of websites (with no financial attachments to the author) is obviously in love with the book and making money! He probably just forgot he put one on Amazon.


TGM

Realistically, TGM, how am I to know that he has no financial connection ?

The General said:

Martin,

'You think it is Amazon' - wot d'ya mean think ? U know it is, you wrote a review on it there !!

Wot ya tryin to pull old son ??

Click to expand...

a review i wrote three months ago... sorry, i forgot! I bought mine from chick direct at the much cheaper price

anyways, TGM is the trader buddy who originally recommended this title to me - attached is a recent chart courtesy of him showing the indicators he uses in his trading based on the methods detailed in this book.

The General,

I know Chick well and talk to him daily. MartinD does not have any financial arangement with him (nor do I). He is writing out of the goodness of his heart. And you are right. You would have no way to know that! Like I said before you can call Chick and talk with him. I have been trading with the same indicators as Chick for many years now. I actually starting talking to Chick when I was trading in Chicago at the Cbot some years ago. This book is top notch. I agree with anyones skepitcism. I have been around a long time and have been ripped off on a few trading books (I am sure the rest of this board has as well ). This book is good in my opinion.

TGM

Martin,

All well and good posting the chart, but nobody has any idea what it is telling us......

Martin,

A brief overview of the meaning of the various coloured dots would be useful....

Book can be bought at Global Investor for £40
http://books.global-investor.com/pages/book.htm?ginPtrCode=21470&BookCode=17728

[Mod's note: Edited to point direct to the T2W book store and the book in question :cheesy: ]

A brief overview of the meaning of the various coloured dots would be useful....

Click to expand...

Forget the coloured dots man, it’s an obvious W-bottom with positive divergence on the squiggly oscillator at the bottom…..

Buy 9700 with a target of 10900……!

Did he put that in the book…….?

If so it might be worth £80........

I'm sure Chick Goslin is a great trader, but on the 'about chick goslin' bit on his website he has decided to display a picture of himself sh*gging a dog(or is it a sheep?). And that's just plain wrong.

General,

The light blue dots are primary concurrent buys and the red dots are primary concurrent sells. You learn to take profits as percentage of margin from these concurrent signals. The pink dots are secondary concurrent signals.

triax,

Pretty distastefull-- have some class. Obviously that is a man standing next to his dog.

TGM said:

Obviously that is a man standing next to his dog.

Click to expand...

Right. With a bit of luck I might get to 'stand next to' my girlfriend tonight.

triax,

You made my day.

Seriously though, the book's good too.


Porks

Well, on the basis of this thread and their website, I've just ordered the book myself ... sounds rather interesting, I must say. Will probably take nearly 2/52 to arrive from the US, I imagine. I'll be reporting back in a few weeks with a review, if this thread's still alive then

Thanks for making me laugh Triax.

Nice one triax ;-)

I don't see a chick in the photo.....
Having been to Colgate Uni I'd expected more of a Ring of Confidence in the person behind the dog/sheep - which does seem to be grimacing...........unsurprisingly.
Don't some states have the death penalty for that sort of thing............?

Roberto,

You have me a little confused (unless I am missing something here), Why have you ordered this from the US at a cost of $80 (£44) ( (including postage), when you could have got it the next day for £42 including postage from the UK ?


Paul