The book was written in 2006 timeframe. At the beginning of Chapter 8 "Using Setups to Jumpstart Your System," it says "... For example, in my "big picture" analysis in Chapter 6, I suggested that we are in a secular bear market that could last until 2020." We are now at the beginning of 2020. In fact, it is just the contrary that we have had one of the longest secular BULL, not BEAR, markets up to 2020. The author seems to have missed very badly with his predictions about the market trend up to the year 2020.
In addition, the whole book is threaded with a highly subjective concept of "initial risk" or "R", which cannot be determined rationally or accurately. Position sizing was emphasized a lot but no concrete, good position sizing methods were given, except a few simple, not very useful ones.
I would rather take a more quantitative approach as introduced in
Forecasting and Timing Markets: A Quantitative Approach
, that depends more on several simple technical indicators for entry/exit signals than loosely discussed models introduced by this book of "Trade Your Way to Financial Freedom." I had high hopes but got very disappointed after skimming through for what it is about.