High Probability trading 
asked by learner on November 12, 2006 1:55 AM
A common denominator among most new traders is that, within six months of launching their new pursuit, they are out of money and out of trading. High-Probability Trading softens the impact of this "trader's tuition," detailing a comprehensive program for weathering those perilous first months and becoming a profitable trader.
This no-nonsense book takes a uniquely blunt look at the realities of trading. Filled with real-life examples and intended for use by both short- and long-term traders, it explores each aspect of successful trading.
Reviews
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I liked this book a lot. It was clearly written. It covers a surprising array of trading aspects. The author doesn't come across as condescending. The author doesn't provide the reader with an unrealistic expectation of success or failure. The author has a lot of different experiences with trading that he uses to create a wonderful work. The book is organized well, and all the information contained in the book is relevant to traders and long-term investors alike.
The author has a lot of experience trading. He's traded in the pits of exchanges, traded other people's money, traded his own money, and has seen incredible blow-ups of his own and of his clients as a broker.
The book is organized well. The chapters are dense with information. Each chapter stays relevant and doesn't lose focus. The resulting effect is a high-quality work that hammers the nail right on the head.
The author doesn't provide the reader with unrealistic expectations. When you read this book, you'll read so many stories of people blowing their accounts up, that you'll come to understand success in this game is the exception, not the norm.
No book is perfect, so I will include a criticism of the book. It is redundant. It is redundant. It is redudant. But that might not be a bad thing if that's how you learn. But if you hate redundancy, avoid this book.
If you're looking for a book as a brief intro into financial statements, try "Rule #1 Investing" by Phil Town.
Appendix
The following works/books were mentioned by the author inside this book as recommended reading:
1) Reminiscences of a Stock Operator
2) The Inner Game of Tennis
3) Extraordinary Popular Delusions and the Madness of Crowds
I bought this book from a dealer off Amazon and it came in perfect condition. Try eBay if you're looking for best price.
The author has a lot of experience trading. He's traded in the pits of exchanges, traded other people's money, traded his own money, and has seen incredible blow-ups of his own and of his clients as a broker.
The book is organized well. The chapters are dense with information. Each chapter stays relevant and doesn't lose focus. The resulting effect is a high-quality work that hammers the nail right on the head.
The author doesn't provide the reader with unrealistic expectations. When you read this book, you'll read so many stories of people blowing their accounts up, that you'll come to understand success in this game is the exception, not the norm.
No book is perfect, so I will include a criticism of the book. It is redundant. It is redundant. It is redudant. But that might not be a bad thing if that's how you learn. But if you hate redundancy, avoid this book.
If you're looking for a book as a brief intro into financial statements, try "Rule #1 Investing" by Phil Town.
Appendix
The following works/books were mentioned by the author inside this book as recommended reading:
1) Reminiscences of a Stock Operator
2) The Inner Game of Tennis
3) Extraordinary Popular Delusions and the Madness of Crowds
I bought this book from a dealer off Amazon and it came in perfect condition. Try eBay if you're looking for best price.
reviewed by porsche on November 21, 2006 2:50 AM
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Easy to read and understand but these concepts are a must known before anyone should even begin trading. Wish I had found it many $$$$ ago. This book will help you to understand why 90% of new traders loose money in the markets and what you have to do to be in the 10% that survive the first year. Especially if you think you are going to make a killing on Wall Street, you have to read this book first.
The book contains plenty of personal experiences and observations which help keep the material enjoyable as well as informative. Also, the book is aimed primaily at day traders, but all trading styles will benefit from its reading.
The book contains plenty of personal experiences and observations which help keep the material enjoyable as well as informative. Also, the book is aimed primaily at day traders, but all trading styles will benefit from its reading.
reviewed by crafty1 on November 21, 2006 5:55 AM