Rachel Koning Beals, Chicago-based freelance financial writer in SFO Magazine
Phil Storer begins Chalk Talks for Traders with a forthright question: Who are you? Trading books routinely address psychology and lifestyle challenges alongside market strategies, but Storer's cut-to-the-chase query into his minions' mettle is well-placed in Chapter 1; there is not much sense in sitting through the chalk talk if you are not cut out for the sport or are not sure what position to play.
In his inspirational speech, Storer tells investors to create a trading plan unique to their strengths and to shake off the naysayers, then jump in with calculated risk taking, using checklists and paying attention to details. He urges readers to learn to live with victory and defeat-i.e., profit and loss.
One of his chalk talks is devoted to swing trading, an approach that has proven successful in Storer's nearly 40 years in the business and works in bearish and bullish markets. Storer's version: Identify markets that are basically already in a trend or have attained a goal but have clearly reversed and begun a new trend; wait for a correction or countertrend to develop; take a measurement that will give a high-probability target; and establish protective stops as soon as the trade is entered.
With his "shadow trading talk," Storer coaches investors to advance their charting skills and turn certain short-term plans into longer-term trend trades by using Bollinger bands in addition to bar or candlestick charts and an eight-period simple average.
Leslie N. Masonson, author of "Buy DON'T Hold" and "All About Market Timing." in Futures Mag
The author provides traders with a time-tested technical trading approach, trading rules, as well as parameters that will lead to better trading results. His examples, writing style, knowledge of the subject matter and numerous illustrative charts all work together to help readers succeed in this challenging arena. Read the entire review here.
From TradersPlus.com.au
Storer has produced a book that is physically bigger than normal formats, a benefit that is not realised before hitting the hard core charting pictures and detailed annotations. Read the entire review here.
READER'S REVIEWS
S Lanham on Amazon
Traders need to read this!. Storer has come up with a real gem with "Chalk Talks." It is a quick, concise read with a writing style that gets the point across without a lot of wasted words. The graphics are first-rate, too.
The chapter on Reading Momentum, Chapter 7 -- aptly titled 'Wild Guesses and Educated Choices' -- and Chapter 12, 'Making It Work' that ties the whole book up very neatly, are worth the price of admission. I have already found myself studying charts and then reaching for this book for a real close comparison. It adds to your confidence, to say the least.
A lot of how-to trading books come across like they were written by academicians or theory people. Storer comes across like what he is: a guy who has actually been trading commodities for a few decades.
If you want to make some money, and maybe better, avoid those disasterous trades that lose a lot, this book is the one. You can read it in a day, and if you're like me, you'll find yourself reaching for it on a lot of days afterward.
Alex Telka of Malmo, Sweden
Just wanted to let you know that a copy of your book is in my hands right this moment.
My first impression was the good quality of the book and as I began reading it, it become obvious to me that it was written by someone who know how to work the markets by experience.
Your wording feels honest, thought through and accurate. It has a depth that a lot of writers, so called experts, don't have.
I have so far read the first two chapters and decided to stop trading for as long as it takes me to learn from you. Everything in those two chapters could easily been applied to me and it made me think twice about me as a trader, my trading strategies, or lack of it.
Joel-Geri Dee of Berlin, Germany
After just three exciting chapters, I have compiled two pages of notes for review. I can't believe that some of the technicals I am using are similar (not the same) and it took years for me to clarify these using the learn by 'losing' technique.
Purple was one of my racing colors and I can't wait for the "Purple Ball" explanation. I always wondered why StockCharts offer this as a color option.
Phillip J. Kowalski of Buchannan,MI,on Amazon.com Chalk Talks for Traders, without question, is one of the best trading books I have ever read. It contains numerous detailed trading strategies along with specific chart examples of each trading approach. The strategies discussed can be used with any time-frame; from 1-minute charts to daily, weekly, or even monthly charts. The strategies can also be used irregardless of the instruments being traded; from stocks to futures and commodities to options. It is truly a "trading" book in which the reader can immediately put these strategies to use. This is a very high quality book printed with high gloss paper which makes the color charts jump off the page. Everything is extremely easy to read and to understand. To me, the charts are imperative to fully understand the concept of each trading method. Each chart is necessary and helps provide the detail that may not be fully understood in the written word. Don't let the length of the book mislead you. I have never read a trading book that is so packed full of useful and proven ways to make money. This book does not sit on my bookshelf with the dozens of other books I've purchased over the years. It sits on my desk within easy reach as I day trade futures and commodities. I reference it continually throughout every trading week as certain market conditions develop. When they do, I quickly scan the chapter on the appropriate strategy so I can enter and exit the trade correctly. Numerous chapters conclude with a trading checklist for that strategy so I can be assured that all my bases are covered. Be forewarned: the book is not intended for beginning traders. The author chose not to explain the basics of trading. It is assumed that the reader will know and understand moving averages, Bollinger Bands, Stochastics, stop orders vs. limit orders and other technical indicators. This book is all inclusive and has no hidden agenda. Some trading books are used as a teaser for the author's subscription service website or newsletter. Not with this book. Everything you need is right in the book. Chalk Talks for Traders is a must for any serious trader. After implementing some of Phil Storer's strategies, you'll wonder how you ever traded without it.
Johnny Moe I enjoyed it...at first I thought it was a bit too simple...then I realized that successful people in all businesses ultimately make it simple! I used your profit target system today to make a nice profit. It felt good.
