Tap Tap

Tap Tap

As they did in Galimoto , Williams and Stock here bring a cultural tradition to life for young readers. The setting is Haiti, zestfully rendered in Stock’s brightly hued watercolors. Sasifi carries a basket on her head for the first time as she walks to market with Mama. Tired and hot, the girl longingly watches a passing tap-tap–a covered, festively painted pickup truck carrying marketgoers and their goods. Announcing they do not have enough money to ride the tap-tap, Mama curtly says, “Perhaps you are not yet big enough to help me on market day.” Sasifi proves otherwise, competently selling all of their oranges–and collecting the correct amount of money–while Mama goes off to do her marketing. Her reward is her very first “fine new hat”–and some coins to buy herself a treat. The spirited child passes up the tempting goodies of the bustling marketplace for a ride home in the tap-tap. Children (even those younger than the intended audience) will enjoy the rollicking ride almost as much as Sasifi herself–who learns to “tap-tap” on the truck’s side when she wants it to stop. Ages 6-9.
Copyright 1994 Reed Business Information, Inc.

User Ratings and Reviews

4 Stars Great book for kids!
I do medical missions in Haiti and found this book to be colorful and a good way for children in the US to learn a bit about what life in Haiti is like.

5 Stars Adopting from Haiti
This book gives a great view of a day in Haiti. I’m excited to share it with my Haitian Daughter.

4 Stars Sweet but not sugar-coated
This is a sweet little book. The illustrations are beautiful watercolors with lots of detail that will appeal to young inquisitive eyes. (I know because I tested it on my favorite three year old.) The story is a simple one of a trip to market and a more interesting trip back to the village. A story of wanting, of responsibility, and of reward. I think books that share even a glimpse of another culture to our American children are very valuable. This book could raise many important questions in children who have no concept of being so poor you must walk everywhere you go. It offers that glimpse without being harsh in anyway. As I said, its sweet and yet one notices our main characters have no shoes for their feet. The writing is beautiful and reads well out loud. It is a simple enough story that most third graders can read it for themselves. Its also informative for adults. Now I know why the Haitian jitney is called a Tap-Tap. Tap-Tap gets a high recommendation.

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The Secret Science of Price and Volume Techniques for Spotting Market Trends Hot Sectors and the Best Stocks Wiley Trading

The Secret Science of Price and Volume Techniques for Spotting Market Trends Hot Sectors and the Best Stocks Wiley Trading

In The Secret Science of Price and Volume, leading market timer Tim Ord outlines a top-down approach to trading—identifying the trend, picking the strongest sectors, and focusing on the best stocks within those sectors—that will allow you to excel in a variety of markets. With this book as your guide, you’ll quickly become familiar with Ord’s proven method and discover how it can be used to make more profitable trading decisions.

User Ratings and Reviews

1 Star NOT a good buy
Although Mr. Ord does have a couple of good points to make, the great bulk of the book is a sales pitch for his Ord Volume, a black box concept he markets through his web site. In seems inappropriate to charge so much for a sales pitch for a product he offers for sale separately. Beyond that, the product itself is open to great question; as he describes Ord Volume, it is undefined until AFTER the market move he uses it to predict, suggesting it is likely an after the fact rationalization of events, and that the product itself has quite limited value. Beyond this, the application rules are vaguely set out and the balance of the book is composed primarily of well known market maxims. One can only conclude that Mr. Ord has utilized his talent poorly with this effort.

5 Stars Excellent book on volume
I’ve read a number of books on technical analysis, including the classic “Technical Analysis of Stock Trends” by Edwards & Magee (which I highly recommend). I also read Technical Analysis of Stocks and Commodities magazine. Although it isn’t difficult to find basic explanations of volume, such as the principle that as price increases, so should volume, I’ve always found these standard explanations to be lacking.

Then I read Tim Ord’s book, The Secret Science of Price and Volume. After reading this straight-to-the-point, easy-to-understand book, I now have a much better understanding of how to analyze the relationship between price and volume in a way that’s more meaningful, and gives me more confidence in my trades.

Ord begins this book by explaining how he got involved in the financial markets, and why he adopted technical analysis as a primary means of analyzing the markets. From there, he explains his top-down approach to analyzing the market: determine where the market as a whole is going, find the strongest (weakest) sectors in a bull (bear) market, then find the strongest or weakest stocks in those sectors.

After covering these basics comes the fun part: how to analyze volume patterns. Ord explains what he calls Ord Volume, which is simply the average daily (or whatever timeframe you’re analyzing) volume for each leg in the trend. He also explains how to analyze volume at various swing lows and highs.

Next, Ord discusses how to analyze the breadth and sentiment of the market to determine intermediate and long-term highs and lows. He also briefly covers the basics of momentum oscillators, and how divergences work. This is really the only part of the book that is standard boiler plate technical analysis that one can find anywhere, although to a newcomer this is still very useful. What I appreciated is that this section doesn’t overpower the book’s more important topics, which are price and volume analysis, the top-down approach to trading, and breadth and sentiment analysis.

After determining prime turning points in the market, Ord then goes on to the science of finding the best sectors to be in, and from there, the best stocks. He backs up his claims by examining, on the charts, recent market moves, and shows how the sectors that performed the best during a downturn generally perform the best when the market turns around and heads north.

Then there’s the chapter on gold. Personally, I found this to be an odd addition to the book, as I didn’t really find it relevant (except for those who trade gold). But still, he uses this chapter to further demonstrate the techniques of this book to that particular market.

Finally, Ord closes the book with a step-by-step explanation of how to apply the principles in the book, using the 2002-2007 bull market as an example. This is a great wrap-up that reinforces everything that was previously discussed.

I’ve generally found that when it comes to educational materials, you get what you pay for, and this book is no exception. Although I finished reading this book only a week ago, and haven’t really given it the test of time, it does appear, as I examine charts of the market, sectors, and stocks, that the principles and techniques taught in this book are right on the money. I’m excited and looking forward to applying what I’ve learned in this book to my own trading. There’s plenty of information out there about RSI, MACD, momentum divergences, moving average crossovers, breakouts, etc. But those studies apply to price only. Volume is the other half of the equation. With plenty of charts, and his easy-to-understand writing style, Tim Ord does a great job of filling that void.

1 Star Secret, what SECRET.
The Secret Science of Price ad Volume. The title is deceiving. There is no SECRET and no SCIENCE. It is merely a

re-phrasing of standard technical indicators and making a complicated issue out of it.

“Spotting Market trends,hot sectors and best stocks” is no more than a simple momentum investing.

Don’t waste your time and money.

5 Stars Aligning Trading Ideas with Markets
Timothy Ord recommends a top-down approach to market analysis.

The author, president, editor, and publisher of The Ord Oracle an electronic advisory newsletter that recommends S&P, NASDAQ, and gold stock trades, argues that every trade begins with:

1. Determining the market direction.

2. Selecting the best sectors.

3. Isolating the strongest stocks in the best sectors.

There is nothing there that justifies this book’s price. What follows, however, is rare insight focusing on the role of volume. Following it focuses the trader’s attention on what the market is saying.

Ord illustrates his points with recent charts. He describes the trade set up and resolution in language that is clear and simple. The result is a truly useful market approach.

By the time I finished the book my head was red from slaps as I thought “Why didn’t I think of that?” Many of the insights are easy to implement. Yet, the one I find is the most useful, is one of the first lessons I was taught.

“Have patience; wait for the trade to be aligned with the market.” I hear it. I know it. I know it to be true. Every time I ignore it, I usually lose money.

This book is worth every penny. Its lessons promise to shorten your learning curve on your way to becoming a trader provided you conquer the practice of patience.

5 Stars Must read book for any serious investor
Tim Ord’s book is an easy read and his trading methodologies are very easy to use. Own both the book and software. Software is $599. I have worked on Wall Street for the past 18 years and Tim’s methodologies get right down to the basics of looking at just price and volume (that is all you need). I know of a couple of big hedge funds who wrote all of these sophisticated quantitative formulas for beating the market and they ended up getting slaughtered like sheep. Most of these quant guys have Phd’s in mathematics and engineering. Tim’s software showed and most every mortgage company over the past year (example: Fannie Mae; FNM) to either sell the stock or short the stock right before these stocks collapsed. Great software, great book, highly recommend.

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Foundations of Financial Markets and Institutions 4th Edition

Foundations of Financial Markets and Institutions 4th Edition

A comprehensive exploration of the world’s financial markets and institutions.

Introduction; Financial Institutions, Financial Intermediaries, and Asset Management Firms; Depository Institutions: Activities and Characteristics; The U.S. Federal Reserve and the Creation of Money; Monetary Policy in the United States; Insurance Companies; Investment Companies and Exchange-Traded Funds; Pension Funds; Properties and Pricing of Financial Assets; The Level and Structure of Interest Rates; The Term Structure of Interest Rates; Risk/Return and Asset Pricing Models; Primary Markets and the Underwriting of Securities; Secondary Markets; Treasury and Agency Securities Markets; Municipal Securities Markets; Markets for Common Stock: The Basic Characteristics; Markets for Common Stock: Structure and Organization; Markets for Corporate Senior Instruments: I; Markets for Corporate Senior Instruments: II; The Markets for Bank Obligations; The Residential Mortgage Market; Residential Mortgage-Backed Securities Market; Market for Commercial Mortgage Loans and Commercial Mortgage-Backed Securities; Market for Asset-Backed Securities; Financial Futures Markets; Options Markets; Pricing of Futures and Options Contracts; The Applications of Futures and Options Contracts; OTC Interest Rate Derivatives: Forward Rate Agreements, Swaps, Caps, and Floors; Market for Credit Risk Transfer Vehicles: Credit Derivatives and Collateralized Debt Obligations; The Market for Foreign Exchange and Risk Control Instruments

MARKET: Foundations of Financial Markets and Institutions, offers a comprehensive exploration of the revolutionary developments occurring in the world’s financial markets and institutions –i.e., innovation, globalization, and deregulation–with a focus on the actual practices of financial institutions, investors, and financial instruments.

User Ratings and Reviews

4 Stars Excellent text, but FLIMSY paperback
Foundations of Financial Markets and Institutions (3rd Edition)

Excellent overview with enough coverage of financial markets to see the big picture and enough detail to depict the inner workings.

I used this book for an MBA course and it is a good resource for graduate school. If you’re not used to the rather technical writing style that prevails in economics and finance, you will find this text rather dry. Without pre-existing knowledge in financial markets, this book will strike you as confusing and a bit overwhelming.

If you’re just learning about financial markets, I recommend watching the daily half-hour PBS show Nightly Business Report (www.nbr.com or www.pbs.org/nbr). NBR is more analytical and less hype-filled than the financial shows on cable, and I recommend it if you need some beforehand warm-up before delving into this book. If you already have a working knowledge of financial markets and economics, this book is well-written and appropriately paced.

If at all possible, try to get the hardbound edition. The paperback is so flimsy that it can’t possibly withstand the rigors of graduate study. If you’re a hands-on reader and thorough student, this book will fall apart on you.

I would give it five stars for content, but the flimsy paperback format calls for taking off at least one star. At this price, I would expect a binding that holds up to normal reading.

Flimsy book binding aside, the presentation of the subject matter is well thought-out.

2 Stars Intense Reading
I am using this textbook for a MBA course and I just had to stop studying and write a review. The authors must have collectively agreed to make this the most confusing read possible. For every one definition, there are two to three words that can mean the same thing, and they are interchangeably used throughout the text; after several chapters, it is very difficult to remember which term matches with which definition. Besides that, the text book was written for people who ALREADY know all the terms associated with this field. They can take a simple subject and convolute it with jargon that the average user will not understand. The writing style used is VERY technical; instead of writing simple sentences that are clear/easily understood, it appears as though they used every word in the thesaurus. I spend more time in the index and glossary than I do reading the text itself. Why couldn’t they have written it more intelligently? A good text book explains itself as it goes and does not jump off the high dive into the deep end of the pool. If you are a Finance Major, this is the book for you, for the rest, I would keep looking. I’m off to wade through the rest of this book and look forward to the last page; will it ever come?

3 Stars Not worth the price.
Spelling and grammatical mistakes.

Personnel from Prentice Hall - Pearson displayed little interest in request for corrections.

Recommend seek books from other publishers.

5 Stars This book is great, very educational!
I use this textbook for my Financial Markets class and I learn so much from it. Fabozzi does a wonderful job of transfering his ideas to students so they can comprehend them and learn. Because of this book, I will definately get an ‘A’ in my class. I recommend this book to anybody.

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Market Microstructure Theory

Market Microstructure Theory

Written by one of the leading authorities in market microstructure research, this book provides a comprehensive guide to the theoretical work in this important area of finance.

User Ratings and Reviews

5 Stars Really nice book!
Perfect to review material from various papers, very good for initial introduction to the field, very nice for systematizing the material!

4 Stars Good review of current literature
This book is probably best for someone with some formal economics or mathematics training. Or at least a reader with a strong interest in this field. If you are interested in microstructure and want a good review of current models, this book is for you.

4 Stars A good book, if you are prepared for it.
If you are serious about learning Market Microstructure this book is a great preview to reading the actual papers. It gives you enough intuition that you can approach classic papers by Stoll, Glosten and Milgrom, Easley and O’Hara, Kyle, etc.

Also, you do not need a serious knowledge of the subject matter to open this book (although it helps to have an undergraduate level investments class under your belt). However, finance prerequisites aside, you should be prepared with a fairly thorough knowledge of microeconomics and statistics. A semester or two at a good graduate economics program should do the trick. Otherwise, this can be a tough read.

4 Stars A classic in market microstructure theory
I do not imagine a faculty of management’s library without this book avalailable for M.Sc. and Ph.D. students.

As opposed to another reviewer, I really liked the structure. Starting with inventory problems, then dealing with asymetric information and finally going thru agent’s strategic behavior; you get the big picture regarding the main issues in market microstructure.

Maybe a bit more detail and explanations on the derivation of some basic models would have been more value added. Unfortunately, you must move on to the original published academic paper to get a fully understanding of any particular model. You cannot rely exclusively on the book.

5 Stars The Bible of market microstructure theory
This is the quintessential book on the theory of the microstructure of financial markets. Although it is not meant for people with just a casual interest in the area, it is nevertheless an indispensable book for academics and for people serious about the topic.

It is also far more readable and understandable than Daniel Spurber’s book which provides little of the working intuition of O’Hara. In fact Spurber is meant more for the theoretical economist with an interest in market microstructure, whereas O’Hara appeals to a broader audience in the field of finance.

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Pounce How to Seize Profit in Todays Chaotic Markets

Pounce How to Seize Profit in Todays Chaotic Markets

Stern (To Hell and Back) offers fierce investment advice, goading readers to admit that their brains get in the way of profits. They must trust animal instincts instead, sharpen their claws and get ready to live by the law of the jungle to capture prey and spit out the bones. With such rhetoric, the system Stern sets forth is surprisingly tame and prosaic (e.g., reviewing investments monthly for underlying value, price direction and market sentiment). Individual strategies include technical analysis (drawing lines on charts to try to guess future price movements), fundamental analysis (valuing companies based on accounting and economic data) and market psychology. This is not a book for beginners; it does not cover the basics of financial planning and assumes a familiarity with accounting and financial data. Although no figures are given, it seems to assume about a million dollars available for investment in liquid securities and enough outside income that the portfolio need not provide cash. This book would be most appropriate for seasoned investors who trust the author’s investment acumen and want a blueprint for imitating it. (May)
Copyright

Financial Freedom Through Electronic Day Trading

Financial Freedom Through Electronic Day Trading

An increasing number of investors are entering the high-risk world of electronic day trading–often before they’ve learned the basic principles and safeguards. Financial Freedom Through Electronic Day Trading combines Van Tharp’s mastery of trading psychology with Brian June’s nuts-and-bolts expertise to give day traders the proven strategies and information they need to survive and succeed.

From little-known day trading entries and exits to techniques that foster winning attitudes and styles, these practical ideas will help readers develop their own personalized trading systems. The perfect combination of psychological preparation and hands-on practice, it discusses:
*Market analysis from a day trading perspective
*Techniques for determining a market maker’s position
*The best day trading software

User Ratings and Reviews

4 Stars content rich
This book contains a wealth of information - I strongly recommend it! The content is excellent, and the writing style is understandable and candid. Brian June not only discusses the nuts-and-bolts of day-trading (Level II screens, time-and-sales data, ‘ax’ market makers, direct-access systems, trading strategies) but covers in detail how one should prepare prior to the market opening and how one needs to debrief trading after the close. Dr. Van Tharp covers two of the most important concepts of trading: risk management (i.e., capital preservation) and money management (i.e., position sizing). If you have not internalized these concepts into your belief system already read these chapters, memorize them. They are key disciplines as they will keep you in the game.

4 Stars Good book for the nuts and bolts of trading
This book was a great addition to the other books I have read about trading for a living. While Gary Smith’s book was his actual trading process and Alexander Elder’s covered the psychological dynamics of creating a system, this book really got into the technical dynamics of risk and expectancy with formulas and excellent explanations of how to be profitable based on your amount of trades/risk/expectancy.

The six key elements you will understand for making money in the market from this book are:

1. System reliability

2. reward to risk ratio

3. cost of trading

4. Your trading opportunity level

5. What you can do based on the size of your equity

6. Your position sizing algorithm

This is a more technical read than other books and comes across very tedious at times, but I found it well worth the effort for the added insights I received.

3 Stars A Must Read for day traders
I would recommend the book to stock traders,but also if you’re trading futures -as in my case- the book is worthwhile as a blueprint for devising business and trading plans. Mind you, the advice given in the book about equipment, software and hardware is already obsolete since the book was written a few years ago.

5 Stars A great supplement to TYWTFF
In his follow up to his first book ‘Trade Your Way to Financial Freedom’ Van K Tharp expands on some of the ideas presented specifically in the realm of trading electronically.

Though not as revolutionary as his first book, this one is still packed with ‘not found elsewhere’ useful information for both beginning and experienced traders. Treat it as a supplement to his first book and you will learn something useful.

4 Stars Best Book on how to write a trading plan
My trading coach recommended this book to me so I could better write my trading and business plan for my trading business. After studying and applying the books material I was able to format a proven and tested plan. I later met with my trading coach to review my plan and he said it was one of the best plans he has seen. Thanks to this book I am able to sucessfully maintain a trading career.

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Simple Wealth Inevitable Wealth

Simple Wealth Inevitable Wealth

The first edition of Simple Wealth, Inevitable Wealth was published around Thanksgiving of 1999. Four months later, the stock market topped out. And the second-longest, second deepest bear market in a hundred years-exceeded only by the cataclysm of 1929-32-began. Simple Wealth, Invitable Wealth has experienced its baptism of fire. Its principles, far from being tarnished by the great bear market of the new millennium, have been validated by it. As I said five years ago on the last page of the first edition. But, using the principles in this book, I could face the bear market as an opportunist rather than as a victim, and keep buying quality managed investments at prices I may never see again.

User Ratings and Reviews

5 Stars Great condition! And latest edition!!!
Extremely happy about condition of the book… and also surprised that it was the latest edition. Thanks for the quick shippping as well.

4 Stars Excellent Read to Emphasize Long-Term Thinking
I enjoyed this book very much. While it’s a fun and quick read, the lessons are eternal. The value of a buy and hold, long-term investment strategy cannot be over emphasized. As a die-hard Vanguard index investor, this book reiterated to me the need to stay the course in an extremely volatile market. I highly recommend it.

5 Stars One of the Very Best
Boils an otherwise complicated subject down to practical concepts understandable to all. This book should be read by all financial advisors and do-it-yourselfers. Pay particular attention to the quotation by Satchel Paige! Although not known for financial acumen, he hits the nail squarely on the head.

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The Little Black Book of Microcap Investing Beat the Market with NASDAQ AMEX Microcap Stocks OTCBB Penny Stocks and Pink Sheet Stocks

The Little Black Book of Microcap Investing Beat the Market with NASDAQ AMEX Microcap Stocks OTCBB Penny Stocks and Pink Sheet Stocks

“The ANTHEM of microcap investing!” — Kurt Schemers, Host of Traders Nation - The largest syndicated small cap investing radio show in the USA.

“The ANTHEM of microcap investing!” –Kurt Schemers, Host of Traders Nation - The largest syndicated small cap investing radio show in the USA.

“Very valuable information.” — Olivier Columbo, US Equity Sales - Deutsche Bank Aktiengesellschaft - Zurich, Switzerland

“Very valuable information.” –Olivier Columbo, US Equity Sales - Deutsche Bank Aktiengesellschaft - Zurich, Switzerland

User Ratings and Reviews

1 Star Absolute garbage
I would bet money that the author made far more off of this well presented book than he ever has off of trading.

This book is a stumbling, bumbling, super-beginners guide to investing in Microcaps, but most of the book the author is hyping up old holdings in washed up companies.

From the sounds of the book this guy is a hobbyist. And hobbies are expensive. He compares micro-cap trading to playing slot machines! Is this really something you want to emulate?

Don’t get fooled by the cute cover, save your money and buy a better book.

5 Stars Knowledgeable Author
If you’re going to trade penny stocks or are thinking about that sector of investments then this book should be your first. The buzzword for this type of speculation is “due diligence”. Mr. Holtzclaw provides all the information you need to conduct a proper due diligence. I’m very happy with my purchase.

4 Stars Great reference and advice on trading Microcaps
Outlines all the basics of what you need to watch out for in trading/investing in penny stocks. Trading at these low levels is quite different than trading NYSE securities. This books helps define the differences and basic strategies.

3 Stars Ok
This book is ok, I didn’t mind the read, but it didn’t necessarily expose any knowledge you cannot already get out there on the net for trading pennies. But, I would recommend the book for anyone new to the game and for anyone wanting reinforcement in the standard concepts of trading on the OTCBB and Pinks.

4 Stars good for beginners, waste of time for experienced
Not a book for advanced investor, but has some helpful hints to help protect newer investors interested in gambling in pink sheets.

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Checkered Past Harlequin Nascar

Checkered Past Harlequin Nascar

NASCAR team owner Chad Matheson is most comfortable when he’s in control. But his control took a time-out during a few days in Las Vegas—and he impulsively wed hotel heiress Brianna Hudson. The marriage lasted only one night, though, before they both had second thoughts….

Two years later Brianna holds the keys to a much-needed sponsorship for Chad’s team, and Chad is determined to keep things between them strictly business. But he knows he’s fighting a losing battle. Because where Brianna is concerned, the atmosphere is anything but professional. And the last thing he needs is anyone finding out that, legally, they’re still Mr. and Mrs.!

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Trade Your Way to Financial Freedom

Trade Your Way to Financial Freedom

“The book is clearly written and makes generous use of practical examples and models…The principles he [Tharp] promotes for traders, if followed closely, can be applied to a wide group of investors.” (Ticker Magazine )

User Ratings and Reviews

5 Stars Fundamental and Solid Information for the Professional Trading Career
You want to learn how to trade and you are willing to take classes, learn for many thousand hours, look at yourself, test your personal trading scheme, do position sizing and think in terms of expectancy, than you are a prime candidate for “Trade your Way”. This book is solid and valuable and just the start of a lot of work. If you actually do not like trading and only want to manage your retirement money with a minimal amount of time, you do still get some hints, but most of the contents are just too much to fit your needs.

Van Tharp has a strong psychological and coaching background. He is in a lot of respects quite an unusual person. Also he asks you to really look at yourself and your objectives in order to develop a trading system that fits your needs. Here you might expect to get some strong feelings positive or negative but most likely both.

People who consider themselves as investors might frown on trading as speculation. Also the strong believe of Van Tharp is: cut your losses short and let your profits run. This might also not fit your mindset.

Within the above limitations Van Tharp is extremely tolerant in values, methods and schemes with endless advice. The book is an easy read with lots of examples. His most important points get ample repetition. The mathematics is just plus, minus, multiply and divide. The glossary also has a square root. His references are extensive and do contain a lot of my favorites.

If you want to get an idea of Van Tharp’s thinking, he has an excellent free newsletter. Anyhow reading the book you will learn a lot even if you do trading/investing only as a hobby.

5 Stars One person’s perspective
I am writing this review because of the many negative reviews this book has received. For the record, I am formally trained in Finance and have a graduate degree in the subject. I understand fundamentals, macroeconomics and technical analysis as well as most folks. I have traded for 2 years although I was a buy and hold investor for 17 before that. I am commenting on the 2nd edition.

Over the course of the last few years, I’ve learned a lot of things about markets that my formal education and experience never taught me. The single most important thing I’ve learned is that psychology matters more than anything else when it comes to trading. There is the psychology of the market to deal with and the trader’s own personal makeup as well. If you don’t confront these issues, your chances of succeeding as a trader are long at best. Markets are moved not by news, not by economic conditions but rather by the basic human emotions of fear and greed.

This book caused me to confront matters in my psychological makeup that were holding me back as a trader. If you spend some time in chapters 3 and 4 and do what Tharp asks you to do you will become a better trader. I completed the assessment. I did the exercise on beliefs. I did not rush through them but revisited them 2-4 times after the initial exercise and came away with a pretty clear picture of who I am, what my biases are and how they torpedo my trading efforts. Maybe this is elementary and maybe the other posters have already done this sort of thing, but judging from the comments I read here and elsewhere on trader blogs, I suspect most have not. I learned things about myself I didn’t know. I applied those things to my present plan and immediately saw results. I’ve read hundreds of books on trading and never had that happen before. I don’t want to bias other readers unduly, but I found it really somewhat remarkable.

Next, I incorporated the information on trading systems and time frame in chapters 5 and 6 and rewrote my existing plan which really wasn’t a plan at all but merely a list of setups and entry and exit strategies that sounded good to me when I learned about them. I came to discover that I was trading far more impulsively than I thought I was.

Finally, Tharp spends the remainder of the book going into specifics on setups, entry and exit, position sizing and other specific topics. This is all well and good, but most of it I had heard before. For me the value was in the first half of the book, the part that many of the reviewers who didn’t care for the book panned. For me, it boiled down to two things. First, very little is written about the psychology of trading and even less about how biases can destroy a trader. Michael Pompain’s “Behavioral Finance and Wealth Management” was best of breed until I read Tharp, at least in my opinion. Secondly, I think it helps that Tharp isn’t a trader. Most books written by traders are full of biases because these traders know what works for them. It may not work for you or me.

If you’re interested in learning about the psychology of trading and becoming a better trader by learning to be honest with yourself about your strengths and weaknesses and the biases that you bring to the market every day, this book will help you better understand, and in the process it will make you a better trader.

5 Stars Great Book - Poor Reviews Not Warranted
First I should state that I am new to trading and trying to find a method to invest that allows me to grow and protect my capital. Buy and hold doesn’t seem to work well in the current bear market, yet that was the primary methodology that has been advocated for many years now. It has cost a lot of us dearly! I can’t put a stop limit on my mutual funds!

I purchased this book because of a recommendation in another trading book, and as a result I didn’t read any of these reviews before my purchase. Before reading the book, however, I did check the reviews, first reading those with a 1 rating. Initially I was concerned that I had not made a good purchase and was prepared to return the book.

The 1 rated reviews indicated that the book was poorly written, confusing, they didn’t learn anything they didn’t already know, and that the author promoted a lot of his other products. These were the minority of the reviews, and I am glad that they didn’t convince me to return the book. Yes, if you want to dive into trading in the first chapter you’ll find that the book starts out slowly with a metaphor about searching for the Holy Grail of trading systems. Tharp also talks about your own beliefs and psychology about the markets. However, please read on and you will be rewarded.

This was the third trading book that I’ve read as I begin to more actively trade my own accounts. The first was Trading for a Living by Elder, and A Beginners Guide to Day Trading Online by Turner. All three are excellent. But this book was unique in that it suggested that there exist many and vastly different trading systems, all of which can work, but work most effectively when matched to the beliefs, abilities and time afforded the trader. As you read about some of the systems, you’ll find yourself thinking, “No, definitely not for me.” “Well, I might be able to do something like that.” Or, “Yes, that’s how I think, that’s how I want to trade, I’m going to develop a system like that!”

Tharp goes into a lot of detail regarding what constitutes a true trading system, dispelling a lot of myths such as that being a successful trader just means picking winning stocks. He speaks to stocks, options, futures, going long, shorting, and probably most importantly, spends a lot of time explaning why picking the vehicle (e.g. stocks or options) and entering the market at the “right” time are far less important than determining expected value, managing risk, exit criteria (e.g. what types and where to place your stops), and position sizing. Elder and Turner’s books also touch on some of these subjects, but not in the context of developing a system that is right for you.

Similar to how Peter Lynch’s books convinced me that an individual investor has a better opportunity to beat the market because we can pick a small number of the best stocks in which to invest, whereas mutual fund managers have billions of dollars they must spread over hundreds of companies, this book convinced me that an individual trader has some advantages over many institutional traders who trade without fully understanding the risk or even the amount of capital being placed at risk on each trade.

This book doesn’t give you a single system or menu of systems that should allow you to trade your way to financial freedom, though he does present a number of systems that successful traders have used and that could allow you to attain financial freedom (actually, he also helps you define what financial freedom means to you). It does give you the ability to design a system of your own, how to measure and adjust its performance, and it offers a lot of insights that I imagine will change the way you approach your trades.

5 Stars Trading the Markets
An extremely fun and exciting read when it comes to books on trading. This book more than met my expectations. It will guide you to define your expectations and goals for trading in a very simple, clear and concise manner. This book should be required reading for any and all traders, beginners or advanced alike. It is perfectly outlined with simple steps and guidelines and then summarized at the end of each chapter. Should be read by all so called “trading gurus” as well.

1 Star Not for trader
The authors tried to cover many aspect of trading, from technical, fundamental, psychology,… he comes with a lot of information that bring nothing to your trading. He explain very simple thing in a complicate manner, sometime not easy to understand. I think he doesn’t know much about trading and all his writing is from the conversation with others (limited) trader. If you are looking to learn about trading and want start to trade it is not a recommendation, you may try to read what Alexander Elder wrote for example. Anyhow, you don’t need to buy them, you can download for free the E-Book using P2P such emule…

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