Mastertrader (Jens Clever) - Review
Mastertrader is an eBook by full time trader and trading coach, Jens Clever. The book is billed as the “ultimate stock trading guide”, with a slick sales website making some bold claims.
So what is actually covered in Mastertrader? Well, after a brief introduction on the benefits of trading for a living, and his “keep it simple” philosophy, Jens Clever launches into an overview of stock markets, and trading styles. This includes some initial coverage of Level 2, although he goes into more detail on that later on in the book with his discussion on market makers and ECNs.
Next comes some background technical analysis; Clever briefly goes over candlestick and bar charts, trends, moving averages, and volume. This ensures the reader is familiar with these terms when they reach the next section, which deals with Day Trading Strategies.
Jens covers several such strategies here, some are candlestick pattern based, and there are also some indicator signalled trade setups. Each includes a sample chart. Next we are introduced to some “swing trading” strategies, which are in fact some very standard TA patterns – for these Clever has included some diagrams, but no “real” chart examples.
The book then rounds off with a small section on trade management, some discussion on computer equipment etc, and then some pages on psychology.
So is it any good? You may have noticed I have used words like “brief” and “small” here – and that sums up Mastertrader (which weighs in at just under 100 pages of large type). Certainly Jens Clever is more of a trader than a writer, and his style is chatty and informal; this is not heavy reading. Mastertrader is not a comprehensive work in the style of, say, Harvey's Day Trading Freedom course (review here).
For someone who already has some trading knowledge and is looking for a guide to using TA to day trade stocks, then the clear and concise, if not particularly new information is worth the low price. If on the other hand you’re looking for something a bit more in depth and with some stock specific strategies and plenty of examples, then I’d say spend a few dollars more and get Harveys course.
Website: Mastertrader by Jens Clever