The PowerX Strategy: How to Trade Stocks and Options in Only 15 Minutes a Day Kindle Edition

I like the book because it was simple to read and the author made the subject matter easy to understand. There is plenty of information on what to do and what to avoid. The advisory tone is worth the investment on time and money.I would recommend this book to any beginner.Key lessons.1. Do 40 trades on a simulator before using real money.2. Increase your risk only after 4 weeks of positive returns

I'll start my review of Markus Heitkoetter's PowerX Strategy with my overall impression of the book and then "get into the weeds" for those who want more detail. In a nutshell, Markus lays out a straightforward approach to entering and exiting short-term trades with a (2 x Risk) profit target. Chapter 3, which covers the mechanics of his PowerX Strategy, is by far the most detailed and useful. The rest of the book is not detailed enough to be anything other than fluff and filler. For that reason, I rate the book 3.5 stars.Now, let's get into the weeds with a few of the topics Markus covers.Markus stresses the importance of finding the best stocks but implies that evaluating each stock individually is so time-consuming that you'll probably need his high-priced PowerX software. Since most readers aren't going to shell out a big chunk of money for his software, that little tidbit is useless.Markus defines his Golden Rule as risking $1 to make $2 to avoid holding onto a trade too long. As an equity multiple, 2X is fine. As Markus states, not taking profits is one of the biggest mistakes traders make. He even adds the old cliche, "Nobody ever went broke taking profits." As I see it, that's equivalent to an NFL quarterback who dinks and dunks instead of throwing the ball down the field. Sure, the small wins are great. But your gains are capped at 2X.I like Markus' 2% Rule, which states that you should never risk more than 2% of your account on any trade, especially when starting out or working with a small amount. This is a good rule to follow when trading.I found Chapter 3 the most useful because it provides the specific chart indicator settings for his Power X Strategy, using:1) Slow Stochastic2) RSI (Relative Strength Index)3) MACD (Moving Average Convergence DivergenceMarkus gauges uptrends and downtrends by using the Stochastic and RSI with the 50-point centerline as opposed to the typical 70/30 or 80/20. He also uses the MACD in conventional fashion with its Signal Line.Markus provides numerous examples of how he uses the three indicators together with a couple of other factors to determine exactly when to enter and exit trades. Although intended for short-term trades, I've also found his method useful for longer, trend-following trades.I've added a screenshot showing his recommended indicators in action with the AAPL stock chart on 05/20/2024. Markus does a great job of showing how the indicators work together to generate buy and sell signals. I wouldn't buy or sell based on just these three indicators, but they're great as confirming indicators.The rest of the book provides superficial coverage of options, trading concepts like Money Management, having and using a trading plan, keeping a trading journal, and pitfalls to avoid. If nothing else, these weak chapters serve as jump-off points for further study. However, as mentioned above, Chapter 3 alone is worth the book's price.

Reminds me of many mistakes I have done myself. Like a diet plan - simple - but requires discipline to execute. A good reminder of hygiene and basics.

Don’t chase trades! Don’t chase Trading Systems either. Like Markus stated “ when a women is disturbed she buys shoes, and when a trader loses he buys another trading system. The problem was never with the system they use…only the person trading it.

Good info in the book, easy read, liked the concepts. There are many references to go to a particular site to get better charts and I was hoping more info on the company. When I tried going it the site I was hit with a warning about malware and phishing this site being a known security risk. I feel I wasted my time.

The book provides clear trading rules and also covers important risk control method and mindset you should need. I wore a code and backtested it myself, added some filters and also tested different timeframes as well(while the book is mostly based on daily bar trading). I am already running my own trading systems but definitely I will test the PowerX more and I would use it in real trading.

It's a quick read, but it's to the point. Markus gives a good overview of his trading strategy, but there's not much depth. You will likely need more information resources before you are ready to use the strategy, however it's a fantastic starting point that introduces concepts that a lot of many beginners traders should learn.

I thought I was losing my sanity chasing trading strategies and methods left and right, Mr. Heitkoetter has saved my sanity. After reading this book with deep interest and satisfaction, knowing what I have been reading was the Truth, if anyone has been around trading long enough, you will be relieved this method could save your retirement bacon, simple strategy anyone can follow, compete strategy with risk and money management and with a built in psychology to ensure success long term. This one is ROCKwell Solid. Awesome. Thank You. Keep this one by your side.

Very short and simple to follow, only if we are made to follow it.A guess practice is the solution for everything as long as following the instructions correctly and practice and practice correctly.Well done Mark

The market is not a playground or hobby, because there are overwhelming shark attacks waiting for you, look at thousands of charts, find set ups, never stop learning.

Good book for beginners. Has everything, strategy, plan, psychology, money management etc etc . You will sure gain from it.

The book worth buying, it made of me a better trader with indicators. I’m now interested in other books by Markus.

If you are a beginner for trading stocks & options, get good foundation with this book. Very easy to understand and well explained throughout. Writer also has YouTube channel where you can have an opportunity to view his real time examples.