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Financial Times/Prentice Hall | 2000-09 | ISBN: 0273637541 | 282 pages | PDF | 1,9 MB

The author does not trust any trading method which he didn't develop himself. Traditional trading systems are under heavy criticism here:
Elliot's theory is called "garbage". Indicators are called "illusory" and "meaningless".
There is almost no discussion of how indicators work (i.e. Moving averages, MACD, Stochastics, etc.)
Rather, John Piper has developed methods based on "spiky action". That is, if the price unexpectedly jumps up,
you can expect it to go down quiclky, and you can profit from this. Or, vice-versa: if the price falls sharply, you can expect it to go up thereafter, and you can profit from this.
The format of the book is similar to Van Tharp's "Trade your way to financial freedom", but John's book is a little easier to follow. Van Tharp's main idea repeats here: "It is not the entry that counts, but rather the exit."
Alexander Elder's idea of not risking more that 2% of your capital per trade, is also mentioned here.

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