Warrior Trading: Inside the Mind of an Elite Currency Trader (Wiley Trading) To say this is a great book is an understatement. I have just finished reading this book and was totally absorbed throughout the entire book. Is this book good for newbie traders, I don’t think so. The concepts and the analogies that Clifford uses are much more suited to some one with at least some trading experience. I noticed that on Amazon the reviews were very mixed and I would say this has some bearing there. I personally think this is the best trading psychology book I have ever read. I know a lot of people refer to Van Tharp’s Trade Your Way to Financial Freedom as the ultimate book in this field and previous to reading this book I would have agreed, but after reading warrior trading my opinion has changed completely.
This guy really gets right inside the mind of a trader and conveys it in such a way as to really make you think about just what is going on in the market and how you can benefit from that. This is not a book that says wait for this indicator to do this and wait for that type book. What this book does is really challenge your mind into thinking on a much deeper level about market structure and what others are thinking and WHY they are thinking it. He conveys this through analogies which I found made it even easier to relate to and understand. This book was a real eye opener for me and I definitely gained a lot from it.
Clifford not only looks inside the mind of traders but also delivers strategies and ways to assess the market and then capitalize on this information. He delves into both fundamental and technical analysis and describes how when they are used in conjunction can be an extremely effective tool. Reading this book opens up your whole mind to a complete new perspective on the market and is a book that I will read again and again.
If you have not yet read this book then I recommend you get yourself a copy today and start reading, I can assure you you won’t regret it.
Stan Weinstein’s Secrets For Profiting in Bull and Bear Markets
This is the first book I would recommend to a new trader or anyone considering trading. I would especially recommend it if you are inclined toward technical analysis. By the same token though, it is a definite read even if you are a fundamental trader.
Through Stan’s stage analysis and the use of his simple moving average, anyone could have been spared exposure to the financial crisis that the world has just been through. Don’t worry about the age of the book, these methods are as true today as they were 50 years ago. I use a lot of Stan’s methods in my trading everyday. I find them extremely simple and yet very effective.
This book is the first building block in a foundation for technical trading. Stan provides everything from where to place your stops, to when to take profits. The only thing I find that it lacks, is adequate money management strategies for the likes of day traders. But to be fair to Stan this book is not targeted at day traders or swing traders so the content is relevant.
To pursue the style of trading I do, you have to have some strict position sizing rules which I will go into another time. Stan’s book is systematic and well organized which allows you to plan your trades in a easy and efficient manner. This book makes long term trading look simple and to be honest, it is using these method.
I highly recommend this book to every trader and would-be trader as it is enjoyable and easy to read. *****.
