Rating: 
- Easily pays for itself
Until last year I was satisfied to shift my investments around between Fidelity funds. Since then I've been using a brokerage account and ETFs with a small amount of experimentation with options.
A brokerage account with real-time software is a dangerous thing, and I've made some expensive mistakes. Previous investment books have been useful, but none has helped me as much as High Probability Trading in identifying my psychological weaknesses (chasing trends, ignoring timing, overconfidence ...) and giving me concrete advice on correcting them. I look back on recent trades and cringe now -- the losses would have been less and the gains more if I had been doing what I am now. Not that I expect this book to turn me into a sure winner, but based on looking back I would have lost less and made more.
The author's style is quite personal, with lots of amusing and educational anecdotes.
What's not to like about it? The author's orientation is short-term (day or a few days) trading of futures, but he has tried to include stock traders and investors too. Perhaps addressing multiple audiences slightly dilutes the message for any single group, but most of the advice applies to several asset classes and time periods, and will make you question what you're really most comfortable with. It caught me at the right developmental stage, but if you don't feel a need to address the issues that are raised, or have already dealt with them, it wouldn't be as useful to you.
Disclaimer: I'm only about 50% through the book, but found it so useful that a review might be helpful to others now. Although I have a five star feeling from the first part, it's getting only four in this review because it's only based on the first part.
Rating:
- The Complete Traders Handbook
This book is excellent. All aspects of trading covered & dealt with in candid form. Marcel is open about his own shortcomings & failures. He has been there, done that. And also deals with the most important areas of money management & psychology. Bob
Rating: - Good book
This is one of the great books that I read. I know many will say that the information in the book is available free on the internet, yes it is true, but not in a systematic manner in which the author does it in this book.
I think every new trader should read this book before beginning trading.
Rating: - Overview of Trading Disciplines
This is not really a trading systems book, although some systems are discussed. It is an overview of fundamental disciplines that traders can use for making and keeping money. Although not exciting in themselves, these disciplines will probably make or break a trader. A successful trader will already have integrated most of this information. The book is well organized and reads easily enough.
Rating: - High Probability Trading
Excellent. (I never give a 100% rating as there is always room for improvement). This book is written by a person that understands what it is all about and knows what he is talking about. He is a real person. The book is very easy reading with real information. A definite read for beginners. It has turned my trading from 80% negative trades to 60% positive trades. The only reason my positive trades are so low is because I am still hanging on to bad habits. Do not miss this one.
- Easily pays for itselfUntil last year I was satisfied to shift my investments around between Fidelity funds. Since then I've been using a brokerage account and ETFs with a small amount of experimentation with options.
A brokerage account with real-time software is a dangerous thing, and I've made some expensive mistakes. Previous investment books have been useful, but none has helped me as much as High Probability Trading in identifying my psychological weaknesses (chasing trends, ignoring timing, overconfidence ...) and giving me concrete advice on correcting them. I look back on recent trades and cringe now -- the losses would have been less and the gains more if I had been doing what I am now. Not that I expect this book to turn me into a sure winner, but based on looking back I would have lost less and made more.
The author's style is quite personal, with lots of amusing and educational anecdotes.
What's not to like about it? The author's orientation is short-term (day or a few days) trading of futures, but he has tried to include stock traders and investors too. Perhaps addressing multiple audiences slightly dilutes the message for any single group, but most of the advice applies to several asset classes and time periods, and will make you question what you're really most comfortable with. It caught me at the right developmental stage, but if you don't feel a need to address the issues that are raised, or have already dealt with them, it wouldn't be as useful to you.
Disclaimer: I'm only about 50% through the book, but found it so useful that a review might be helpful to others now. Although I have a five star feeling from the first part, it's getting only four in this review because it's only based on the first part.
Rating:
- The Complete Traders HandbookThis book is excellent. All aspects of trading covered & dealt with in candid form. Marcel is open about his own shortcomings & failures. He has been there, done that. And also deals with the most important areas of money management & psychology. Bob
Rating:
- Good bookThis is one of the great books that I read. I know many will say that the information in the book is available free on the internet, yes it is true, but not in a systematic manner in which the author does it in this book.
I think every new trader should read this book before beginning trading.
Rating:
- Overview of Trading DisciplinesThis is not really a trading systems book, although some systems are discussed. It is an overview of fundamental disciplines that traders can use for making and keeping money. Although not exciting in themselves, these disciplines will probably make or break a trader. A successful trader will already have integrated most of this information. The book is well organized and reads easily enough.
Rating:
- High Probability TradingExcellent. (I never give a 100% rating as there is always room for improvement). This book is written by a person that understands what it is all about and knows what he is talking about. He is a real person. The book is very easy reading with real information. A definite read for beginners. It has turned my trading from 80% negative trades to 60% positive trades. The only reason my positive trades are so low is because I am still hanging on to bad habits. Do not miss this one.