Review of "Free Online Trading Tools" book

2006-08-30T14:57:00.000-07:00

I recently downloaded a copy of Andrew Fleming’s new ebook “Free Online Trading Tools”. It’s basically a collection of about 200 different links to free tools and resources aimed at people who are interested in online financial trading.

It’s not an expense book to buy and there’s a bonus ebook thrown in too (I’ll tell you about that in a minute). For that kind of money, I have to say it’s genuinely really good value. Yes if you wanted to, there’s nothing to stop you trawling through the forums and search engines to dig all this stuff up yourself. But as he says on the website, it would probably take weeks (like it did for him) to find half the links he has.

I’ve already used it to find not only an excellent charting program, but a data feed to go with it too. Considering the functionality this program gives me I know I could have spent anywhere from $50 and up to get something similar - I already own MetaStock, OmniTrader and Sharescope so I’ve a fair idea of what’s out there. (By the way, I’m not suggesting this free program does everything these do – but I do feel it offers everything the average home trader is likely to need.)

The book covers most obvious areas of interest to online traders including: education and training, trading simulators, charting sites, forums, blogs, price quotes/data, news and commentary and others.

He’s also picked up on the current hype surrounding the FOREX market too as there’s a whole bonus section devoted to just this one thing. I’ve never personally traded this market, but there seems to be a lot to please the forex trader in this section.

This actually leads me to another point about the kind of links included in the book in general. I suppose it would have been easy just to fill the pages with lots of obvious links – the Yahoo Finance site and Bloomberg for example. To be honest, these are included but there’s also many more, including some quite obscure sites which I’d never even heard of - but which offer some really useful content (see the Education and Training section especially).

There is also another bonus section included in the main book which is a compilation of links given by some well respected traders. Most just give links back to their own sites, but at least these are all to free tools and content. I suppose these are really just plugs for their own sites, but if it’s free who can knock it?

The other Bonus I mentioned above is for Mr. Flemings other book “The Ultimate Online Traders Success Library”. It’s easy to see why he’s put this together because all the links are to pages on Amazon.com. However, there’s some excellent titles listed here and again it saves you the legwork of finding them yourself. The book is split up into different sections of interest and as he correctly says, “you can buy a lot of these books ‘Used’ these days and get them at bargain prices” (unlike other dedicated Trading Book sites).

I have to admit that if I’d had this book a couple of years ago, there’s every chance I could have saved literally thousands of Pounds (I’m from the UK) on training alone. I won’t mention the name of the site, but there’s at least one that answers just about every trading question you could ever ask. For me, this alone would have been worth the small purchase price. Would I recommend this book to you – at that price, yes - without even thinking about it (anyway it’s sold through Clickbank so you’ve got 56 days to decide if you like it).

Brit Trader

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2006-08-30T14:40:00.000-07:00

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