Great book for traders!
This is a great book about trading that every trader should have in his/her library!
Overrated
Very vague and scattered presentation of general trading theories. Most are just mentioned -- over and over. E.g., general types of stops mentioned as being "good" or "useful" with no statistical evidence whatsoever. The author is a solid writer, which disguises the fact that there is almost no useful content in the book.
This is NOT a trading book . It's useless babble
This book came to me as great recommendation from several places . Compared with the posh title I thought this should be something spectacular . However , expectations are one thing , the facts another.
1.The reader may get a little confused at the beginning due to the overcomplicated language used by the author . Then at some point readers (at least some ) will start to realize that the author has tremendous potential of overcomplicating simple stuff and oversimplifying complex things.
2.The reader will have difficulties understanding what this book is about. Is it about traders as the posh title suggests? Or is it about investors ? and what kind of them ? short -term , long -term , value , growth ?The author just tried to pack in the book as much things as possible no matter what's the relevance of the material . How can a book that is supposedly about trading talk about W. Buffett? What has Buffett to do with trading for crise sake? How can you afford to talk such nonesense like value trading and so on...At the end the rEader will understand one thing- THIS BOOK IS NOT ABOUT TRADING .
3.The book is full of generalizations , contradictions and especially REPETITIONS. I will not delve into specific examples here but believe me you will read throughout the book all the same things and concepts served in different ways and talked with strange language . It looks like the author's aim was to make the book as thick as possible .
4.How can a guy that is not trading himself be one of the best trading coaches and write books about trading ? Only this question can arise plausible suspicion . I would never buy a book from people who are not traders themselves.
5 .Instead of wasting money and time on books written buy people whose only goal is to market their products people should start buying books from real traders . I would recommend reading some of Alexander Elder's which are top -notch books for trading .
6.The author is trying to sell all his products throughout this book . You will often stumble upon a statement which will announce something like this: If you want to know more buy my ....book. Excuse me are we writing a seriuos book or an advertisment pamphlet?
7.I know people pay a lot of money to trading coaches and thing like this . Would I trust this guy with my money ? Hell , no. What is going to teach me when he's not a trader ? Answer to that question before you put some serious money down the line .
8.The most annoying thing in the book (except everything aforementioned) is the always - to - be -right approach of the author . He will tell you how a trader came to him , he told him what to do but he didn't listen to him and failed and lost all of his money . How instructive!
9.Most of the paper is USELESS BABBLE .
10. Here is the iceberg -at the end of the book the author makes the stunning conclusion that everybody has to read his book at least 4-5 times. Is this guy nuts or is he really believing himself that his book is so great?
11.Judging by the reviews It's NO Wonder Why so Many Lose Money in the Markets
12.To Sum it up - DON'T WASTE YOUR TIME AND MONEY ON PEOPLE WHO ARE NOT TRADING THEMSELVES. ONLY LOOK FOR PEOPLE WHO KNOW WHAT THEY ARE TALKING ABOUT . THIS IS NOT A GOOD BOOK.
One of a handfull of trading books worth buying
This is a book worth buying and keeping on your bookshelf. It is hard to imagine you will not find enough nuggets in here to justify the price. The heart and soul of this book is position sizing......how much to risk on each trade. If this is the only thing you learn it is worth many times the price of the book.
Another of the highlights is his game using different colored marbles drawn out of a bowl to illustrate how much to bet on each trade. This is also worth the price of the book. I am having a hard time understanding why anyone would give this book less than 4 stars. It may not be everyone's very favorite book......but it is mine. Having read many scores of investing and trading books, this is one of a handful that I rate 5 stars.
A Must read for a Trader
Thought provoking and revealing book. Not how to trade shares but how to prepare your mind and how to set up a system to manage risk. I have read it three times and each new read reveals hidden treasures. One can pick it up and read a chapter just to renew your thought processes!
