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The Trading Rule
That Can Make You Rich
By Edward D. Dobson
Hard Cover
67 pages
$29.95 +S&H
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I just rediscovered another great old book that had a powerful influence on my own early development as a trader — one of those books that I’ve been hoping to share with Course Members for years. And now I can! |
First I’ll tell you about the book, and then I’ll tell you about the surprising secret connection between the book’s author and me that even I didn’t know about until Donna ordered the book and spoke with the author himself!
The book is The Trading Rule That Can Make You Rich by Edward Dobson. It’s an in-depth analysis of the 50% Retracement principle (he calls it the 50% Reaction). This is the book that introduced me to this invaluable trading tool years ago – a tool that has become one of the cornerstones of my trading style.
What I love about this book is the easy, genuine tone with which Dobson tells his own story of how he discovered the rule and what he learned about it through applying it to his own trading. He talks about his own mentors, puts the rule into historical perspective, and gives examples of how to analyze actual markets.
While the book is filled with equations and charts, Dobson’s encouraging and humorous style keeps it all down to earth. For example, here’s what he says after presenting a series of equations and stylized diagrams: |
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Now . . . if this system taxes you too much, and you find it too involved, I suggest you delegate the responsibility for choosing your trading points to your ten year old fifth grader, who doubtless has an adequate math background by now to keep you “straight” on the orders you should be placing for your trading account!
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Isn’t that refreshing? In addition to his great insights and the education this book provides, it also conveys Mr. Dobson’s love and enthusiasm for commodity trading – what I now call The World’s Greatest Business™.
This is a classic book, first published in 1979. But the information it presents is as fresh and relevant today as ever. It’s another one of those rare finds that should be on every trader’s bookshelf.
Now, here’s the secret connection between the author and me. First, you have to understand that Edward Dobson wrote The Trading Rule That Can Make You Rich as a young man. He then went on to become the president of Traders Press Incorporated.
And here’s the rest of the story . . .
The following is an excerpt from a letter I just received from Mr. Dobson:
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I feel as if I owe you a deep debt of gratitude, for if it were not for you, I would never have met my wonderful wife, Maria, who was originally born and raised in Italy, then moved to Canada. Back around 1994, Maria received one of your mailed ads describing your course, and as a result she became fascinated with the enormous potential in commodity trading, and subsequently became your student and graduated from your course. If it were not for you, she would have never known about or become involved in trading. After your course, Maria began trading, and subscribed to a service for her price data. Wishing to learn all she possibly could about trading, she asked the service department where she might buy more books on the topic. As was their custom, they referred her to Traders Press. After studying our catalog, she called us to order a number of books . . . and, typical of her, asked so many detailed questions about them that my staff referred her to me for personal followup and service (this was in 1996). We quickly became friends and eventually met in person (1998) and married (2000). Our longtime goal is to trade together full time, once she has finished home schooling her two teenage daughters. As I am, she is passionate about her interest in and love of trading. And, if it were not for you, she would have never learned about trading and our paths would never have crossed! Thank you for, unbeknownst to you, playing matchmaker to a match made in heaven!
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I love that story, and I love his book – The Trading Rule That Can Make You Rich.
I bought up all the copies I could, but I only have a limited number, and I don’t know if there are any plans to reprint. So to be safe, if you want a copy of what I consider to be a priceless book, order it now while we have some!
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