SAMT Blog
The Unger Method
12. May 2021, by Patrick Pfister
Resources, Book Reviews
Andrea Unger's book "The Unger Method" is made for people who entered the world of trading and now look for ways of bringing their own methods to profitability. Everybody is looking for financial success and guidance. And while the internet is getting flooded with "free", but often useless content, Andrea's book comes in a straightforward and honest way.
Debunking the myths of a secret magic formula for inexhaustible wealth, he shows how to bring your own system to perfection in various ways, points out tripping hazards and other beginner's mistakes, but also shares much of his valuable knowledge and wisdom.
Trading is not only hitting the buy and sell button - if you want to do it in a professional way, you will have to consider many factors:
- which broker is most suitable to your trading needs?
- what platform to chose to fulfill your coding requirements?
- is your "cheap" broker really cheap or simply a fraud?
- do you have the right mindset to deal with success and failure?
- how do you interpret your results?
- does your strategy work only under certain market conditions?
- ...
Chapter by chapter, Andrea is outlining the most important things to consider to become a successful trader: from the very basics to get started, to tools you need for systematic trading until how to build your own system. Expect no easy money - all successful traders have shown a long history of mixed success and failure. But with the proper approach, you will soon encounter a steep learning curve.
There is not the "one and only" trading system, but only ones that make money and others that don't. You will be surprised to learn how simple many "secrets" are, but in fact, the simple ones often work best. Just as there is no "magic system", his book represents a replicable method.
Further, you will learn methods how to manage your own strategies, choosing which markets to trade and especially how to deal with risk. Dealing with risks is probably one of the most important factors when you try to beat the market. Finally, when you automate your strategy, you will benefit from one more important fact: you won't have to sit 24/7 in front of your screens, but only check your systems occasionally.
As an experienced trader, I can share and agree 100% with Andrea's wisdom in this book, not only suitable for the advanced trader, but anyone who would like to do some self-reflection on recent trading activity and look for ways to improve trading results.
Bonus: clicking on the book image above will lead you to his landing page where you can get a free copy of it (just pay for shipping).
About the author
Patrick Pfister is a board member and current President of the Swiss Association of Market Technicians (SAMT). He is an independent technical analyst based in Zurich, Switzerland with expert skills at unleashing the power of technical analysis and thus creating strong over-performance. His unique investment approach is predicated on multiple-timeframe turnaround patterns.
He is an internationally recognized personal investment and wealth management expert who is highly sought-after as a professional speaker and executive coach who delivers inspirational workshops and seminars to corporations, universities and individual groups. He has vast experience in teaching the strategies of technical analysis based on his own educational method aimed at development of individual views of every trader.
With more than 20 years experience in technical analysis and programming in C++, he is combining the power of technical analysis with parallel computing. Having published his research through a Wallstreet research company, you will find his posts now regularly on LinkedIn as well as on the BLOG of SAMT-org.ch.
Disclaimer: All methods, techniques, charts, analysis or results presented in this SAMT Blog are for educational purposes only. The information provided should not be construed in any way as a recommendation to buy or sell any financial instrument. You should always consult with your licensed financial advisor and tax advisor to determine the suitability of any investment to your particular financial situation. The author does not have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity. SAMT and its affiliates, directors or agents will not be held liable or responsible for your investment decisions.
SAMT nor any of its affiliates, directors or agents are a financial advisory service, nor a licensed financial advisor and do not provide financial advice whatsoever in any financial product.
Further it should not be assumed that any methods, techniques or indicators presented will be profitable or that they will not result in losses. Past results of any individual trader or trading system presented are not indicative of future returns by that trader or system, and are not indicative of future returns which may or may not be realized by you.
Pictures uploaded and used in this article may be subject to copyright. The author itself is solely responsible for adhering to any applicable copyright laws.
By viewing the material on this page, you fully agree that you understand and consent to the above disclaimer.
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