Lord Flasheart
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Add me in please Paul
Add me in please Paul
Sorry Flasheart, you just missed out.
I heard back from Gary he received the list and books should have been already sent to the reviewers today.
Hi Sharky, I will give it a go please.
Hi Sharky,
Sorry I am going to have to pass on this.
My wife is in hospital, and all my time is taken up either in hospital or looking
After our two young children.
I have not down loaded the eBook, so I am sure you can offer it to someone else, if you have not already.
Kind Regards
Jason
You need to own a hard copy that you can underline and open at your bookmarks . Not an EBook.
Hi Charlton, could you expand a little on the bolded part?The essence of the book is said to be to succeed as a trader you will need to break free from the herd and be comfortable making your own decisions. In this respect it ties in with the philosophy of this site and my personal philosophy. He aims to present ideas and techniques used by professional traders to the retail trader/reader. In particular e wants to help the reader understand what lies behind the techniques he proposes.
The book is divided into 3 parts, the first of which explores how the “financial junk-food industry” presents myths as a result of the different views and aims of the market participants, brokers and analysts. By understanding what is “noise” and challenging concepts such as “everything is in the price” he begins a useful shift in the reader’s viewpoint.
He then explores trader psychology, more than just the frequently espoused greed and fear. He achieves this, in my view quite concisely, by presenting a number of questions with simple 2-option answers, which provide that “aha” moment revealing the biases to which we are all prone.
The first part of the book ends by a consideration of how we may break free and establish new mindsets – to not follow the herd.
The second part of the book looks at building new foundations and explores some of the key knowledge that should be acquired – a topic particularly useful for the newbie. A particularly useful technique, used by professional traders, he introduces is the concept of watchlists as a means of filtering noise from information. I thought that this chapter was one of the most useful in the work, for both newbie and more experienced traders.
The following chapter on treating trading as a business, I found to be less useful. It covers topics such as broker choice, liquidity, hardware and charting packages. The problem with presenting these in a book is that the reader normally wants more detail than it is possible to give without the information becoming dated.
Gary then explores position sizing and management, which I consider to be one of the most important topics which if often overlooked despite its impact on trading profitability. This section has loads of anecdotes which are interesting, but for me the constant reference back to the “core principles” began to get a little repetitive.
The final part of the book examines advanced concepts such as pricing in and volatility. I think that one of the best characteristics of the work is to start the novice along the correct track of thinking, what Gary refers to as the system B style of trading. Certainly this section slows down the reader and demonstrates how tackling these topics early in one’s trading career can pay dividends later.
Discussing “pricing in” he aims to dispel the myth that the market is ahead. He introduces how we should not just base decisions on analysis of past data/charts. In this respect he discusses a useful technique, which is to look for disconfirmation.
The penultimate chapter explores volatility and, in particular, its relation to position size. Again Gary illustrates well the different aspects of volatility and dispels the lazy use of the term.
Finally the book ends considering how pros trade bringing together all the techniques discussed early. This chapter considers flow trading or scalping, which Gary says that not all retail traders would want to use but to show why professional traders do/
In summary I think that the main thing Gary achieves is to changes one’s mindset in this work and, for that, I believe that it has achieved its aim and is a book that is well-worth reading.