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Title: Much needed improvements in Scale Trading methodology
Review: As a broker supporting scale traders, I am acutely aware of the carnage the markets have wreaked upon scale traders during 1998 and 1999. Fessenden's book comes along at just the right time with sorely needed recommendations for methods that aim for reducing drawdowns and increasing potential profits. The key to success in scale trading, especially when prices are falling, is RESTRAINT, RESTRAINT, RESTRAINT. This book helps scale traders exercise restraint by buying fewer contracts at lower prices and in situations where prices are rebounding. The book has an academic tone, unlike the original book on scale trading. It may not be the best basic introductory text on scale trading, but anyone attempting to scale in an era of declining prices should not be without this book.
