Rating: 
- A "must read" for active traders.
I'm of the opinion that reviews on stock trading books depend more on degree on the experience and outlook of the reviewer more than the book. At times this makes it difficult to figure whether a book is going to be relevant to me. So I'll describe myself a bit.
I have been investing in stocks for many years using the stock picks from one or two good sources. It's been a way to build retirement income in my spare time. I've been moderately successful, but nothing to brag about. In the past few years I've been gradually becoming more active in trading, making many trades a month and recently many per week. I'm considering trading as a living or at least a part-time income.
I've studied fundamental and technical analysis through literature, webs sites, some books, newsletters, and my broker's courses, though I don't pretend to be even close to being any sort of expert. Tharp's book is the first time I've seen what I would consider a fundamental "text book" on trading. It's not a book on how to pick stocks or entry points though the subjects are discussed in the context of an overall system.
Tharp has created a paradigm shift in my thinking. He walks you through all the elements of a successful trading system, including how to define and measure one and how to think about trading. He asks questions and gives practical examples so you get the ideas and the importance of the issues. He's careful to work through examples and explain himself better than any financial book I've read so far, though he does not explain some technical analysis terms. But they aren't necessary to getting the value of the book (and give you some good topics for your own research). I've been at it long enough to realize that he's pretty thorough in the issues he wants you to consider. He also dispels commonly accepted thinking that leads to poor performance (read "loosing money").
If you are looking for fast answers, a get rich scheme, or an algorithm that will tell you how to find winners, what to buy and when to buy it, then you will probably be disappointed - but in fact you may need the book more than you realize.
I wish I had read this book years ago. It would have corrected my understandings of what investment trading is all about and how to go about it. I particularly appreciated the detailed explanations of risk verses reward and position sizing. I have heard "risk vs reward" talked about in many places, but never had it explained in a way that I could use it.
His examples may seem belabored to some, but they helped cement the concepts into my mind. I found Tharp's personable style and stories made the book easy to read and helpful.
If you have been trading for years and are comfortable with it and make money, then you may not gain much from the book. To everyone else I recommend it.
Rating: - Excellent
This is the best book I've ever read about trading. The position sizing topics alone are gold and can be the difference of being successful or not. but there's much more. Excellent to guide you to create your own system. This book is gold. You won't be disappointed.
Rating: - A must to be read
This book is a must to be read for everyone struggling with trading. Well written, very practical and useful.
Rating:
- the book stinks
I had not read the reviews here before i bought the book at a local bookstore. But after reading the first couple of chapters i started wondering if it's me or the author. I could not make any sense of his writing. He is laborious, verbose, with too many references to elusive hints. The book tries to be ponderous but in my opinion is a cover up for light weight information. He seems to oversimply the complicated and complicate the simple things, as another reviewer mentioned. Save your money.
Rating: - necessary informatiion for traders
To be an excellent trader you need to understand each trade's risk and reward. This book helps you calculate share sizing based on risk. It is a very important work that needs to be incorporated in everyone's trading plan. If you don't have a written trading plan then you must have this book. Then write your plan. Use the risk calculation and you will be a much more profitable trader.
- A "must read" for active traders.I'm of the opinion that reviews on stock trading books depend more on degree on the experience and outlook of the reviewer more than the book. At times this makes it difficult to figure whether a book is going to be relevant to me. So I'll describe myself a bit.
I have been investing in stocks for many years using the stock picks from one or two good sources. It's been a way to build retirement income in my spare time. I've been moderately successful, but nothing to brag about. In the past few years I've been gradually becoming more active in trading, making many trades a month and recently many per week. I'm considering trading as a living or at least a part-time income.
I've studied fundamental and technical analysis through literature, webs sites, some books, newsletters, and my broker's courses, though I don't pretend to be even close to being any sort of expert. Tharp's book is the first time I've seen what I would consider a fundamental "text book" on trading. It's not a book on how to pick stocks or entry points though the subjects are discussed in the context of an overall system.
Tharp has created a paradigm shift in my thinking. He walks you through all the elements of a successful trading system, including how to define and measure one and how to think about trading. He asks questions and gives practical examples so you get the ideas and the importance of the issues. He's careful to work through examples and explain himself better than any financial book I've read so far, though he does not explain some technical analysis terms. But they aren't necessary to getting the value of the book (and give you some good topics for your own research). I've been at it long enough to realize that he's pretty thorough in the issues he wants you to consider. He also dispels commonly accepted thinking that leads to poor performance (read "loosing money").
If you are looking for fast answers, a get rich scheme, or an algorithm that will tell you how to find winners, what to buy and when to buy it, then you will probably be disappointed - but in fact you may need the book more than you realize.
I wish I had read this book years ago. It would have corrected my understandings of what investment trading is all about and how to go about it. I particularly appreciated the detailed explanations of risk verses reward and position sizing. I have heard "risk vs reward" talked about in many places, but never had it explained in a way that I could use it.
His examples may seem belabored to some, but they helped cement the concepts into my mind. I found Tharp's personable style and stories made the book easy to read and helpful.
If you have been trading for years and are comfortable with it and make money, then you may not gain much from the book. To everyone else I recommend it.
Rating:
- ExcellentThis is the best book I've ever read about trading. The position sizing topics alone are gold and can be the difference of being successful or not. but there's much more. Excellent to guide you to create your own system. This book is gold. You won't be disappointed.
Rating:
- A must to be readThis book is a must to be read for everyone struggling with trading. Well written, very practical and useful.
Rating:
- the book stinksI had not read the reviews here before i bought the book at a local bookstore. But after reading the first couple of chapters i started wondering if it's me or the author. I could not make any sense of his writing. He is laborious, verbose, with too many references to elusive hints. The book tries to be ponderous but in my opinion is a cover up for light weight information. He seems to oversimply the complicated and complicate the simple things, as another reviewer mentioned. Save your money.
Rating:
- necessary informatiion for tradersTo be an excellent trader you need to understand each trade's risk and reward. This book helps you calculate share sizing based on risk. It is a very important work that needs to be incorporated in everyone's trading plan. If you don't have a written trading plan then you must have this book. Then write your plan. Use the risk calculation and you will be a much more profitable trader.