About the Book
For years, this book has been given the title of being one of the most important day- trading books around. It’s with good reason. With universal lessons on market and human behaviour depicted throughout, its unlikely to ever lose its edge, and for this reason alone it’s an essential piece of the reading for aspiring traders.
Favourite Quotes:
- “To be angry at the market because it unexpectedly or even illogically goes against you is like getting mad at your lungs because you have pneumonia.” Chapter VIII
- “Of course, if a man is lucky, he will not make the same mistake twice. But he will make any one of the ten thousand brothers or cousins of the original. The Mistake family is so large that there is always one of them around when you want to see what you can do in the fool-play line.” Chapter X
- “Observation, experience, memory and mathematics: these are what the successful trader must depend on.” Chapter XVII
What Others Are Saying About It
Star Rating
3/5: There were some really useful lessons in here, particularly around market psychology and the impact of actions taken by other traders. Towards the end, however, many intricate details started going over my head which made me lose some of my interest. I should note though this could be because of my own shortcomings rather than those of the book! After all, for many, this book is seen as the trading equivalent of the Bible.
Overall, pretty mixed feelings. Like I said earlier, however, it’s still a really important read if you’re planning on becoming a day-trader.
Scott's Book Review Blog 