"The Way to Trade", by John Piper

[TheBramble]

Re: "The Way to Trade"

Anybody read a book called " The Way to Trade'' by John Piper ?

Any good ?

Yes I did buy the e-book. And no, I don't like printing off hundreds of pages either - I'd rather buy the hardcopy but it (apparently) isn't available.

I found it really useful. It's geared mostly to options selling and using a subset of aspects from Market Profile (Peter Steidlmayer).

BTW - Piper points out that when you BUY options you have only a 1-in-9 chance of making money with quite a reasonable explanation of why that is. Cured me of every wanting to buy options ever again (other than as a hedge).

I likes his writing style, but for me the real gem was an article by Tony Plummer included in appendix - "The Troubled Trader".

TTT goes a lot deeper than many 'trading psychology' pieces do and I found it went way further, for me anyway, than 'just' trading. It helped me understand why I do most of the things I do - good and bad - not just in trading.

I am a bit of a flake at times so I may well have over-stated the importance of Plummer's article, but it had a positive impact on me anyway.

I'd be happy to provide it (Plummer's article - NOT Piper's e-book!) for download here but I'm not sure if merely crediting author and Kogan Page (publisher) would be sufficient. If anyone can let me know...

 

[juanbyte]

Bramble

I know exactly what you are saying, but do not understand the reason why you should calculate things that way.

What you are calculating is the profit on turnover and not a net monthly, annually gain.

I believe in keeping things simple, your method would involve calculations for every single trade instead of on per month.

It could go the other way, if I started with 10k and mage one bet of 1k per month and made 2k. According to you this would be a 100% return and my method just 10%.

I am at a loss as to the advantages your method brings, can you enlighten me.

 

[TheBramble]

Bramble

I know exactly what you are saying, but do not understand the reason why you should calculate things that way.

[...]

It could go the other way, if I started with 10k and mage one bet of 1k per month and made 2k. According to you this would be a 100% return and my method just 10%.

[...]

I think all I was saying was that if you have a total of 10k and make 1k in any one time period, you're right - it's a straight 10% gain on that period. But that's just one way of measuring your performance.

If you look at the total risked (1k) then you have a 100% gain on capital risked/traded.

They're both right - just different ways at looking at the same thing.

I'm not a banking/investment type so I'm sure there are 'words' and terms that describe this more adequately, but for my purposes I guess one is 'return on investment' the other is 'return on total capital'. Simply put, a comparison of your gain (or loss!!!) measured against the amount risked or the amount available for risk.

You could be trading REAL small and infrequently, but with INCREDIBLE 500% relative profits on each trade, yet your overall capital increase could be small.

 

[juanbyte]

Tony

Your way would be good to use if you were tarding different instuments/ stocks throughout the month and wanted to find the risk/reward ratio of each to see which is performing best.

I think my way is the simplest and is how profits are generally reported like my 0.1% interest from the bank and my magic 5% pa profit on my pension.

Depending on how you trade, your way can give +/- figures, there is only one answer in my calculations.

I do think generally people do make their trading too complicated

Chris

 

[BBB]

Bramble,

I'm sure most books point out that quoting or reproducing parts of the book is fine. Especially if you acknowledge the author and publisher. Besides, it may help them sell more copies if you also provide a link to where individuals can purchase the book.

They obviously would be upset if you were to post the whole contents.

If you are worried about any comeback, of course you or anyone else could post contents under an anon member id.

Ive seen people post entire books before on BB's and have no comeback, so I wouldn't worry about a chapter or part of an appendix. It's upto you of course! I'm not trying to persuade you (honest gov!)

 

[TheBramble]

Bramble,

I'm sure most books point out that quoting or reproducing parts of the book is fine. Especially if you acknowledge the author and publisher. Besides, it may help them sell more copies if you also provide a link to where individuals can purchase the book.

Well, I'd be delighted to do that, but it's a pdf file and unless someone can recommend a way of pulling just that section of the file out, I'm not sure how I could do it.

I'm quite willing to send the entire e-book to someone if they can perform the necessary extraction, post up on this BB with the acknowledgements and of course, promise not to read the rest of the book.

 

[BBB]

Adobe Reader has a cut n paste facility. Cut the section out and paste it into Word. Simple!

 

[BBB]

...of course I'll oblige if you like.

 

[Rognvald]

TheBramble
Open a new word file
open the pdf file
put then side by side on screen

select "select text" in the pdf
highlight pieces you want to transfer and then past into the word file
tidy up as necessary
deal with any pics by using the pdf snapshot tool i.e.
move the cursor around what you want to transfer to word
clik and it will be transferred to clipboard
paste into word as a picture
go into word and resize as necessary
I want to see it too

 

[TheBramble]

The Troubled Trader

This article was written by Tony Plummer for an IFTA Journal a few years ago. Kogan Page are his publishers.

I've lifted it from "The Way to Trade" by John Piper. If you want to check out Mr. Piper's e-book you can at http://www.the-way-to-trade.com

 

[Rognvald]

For Tony Plummer fans see my thread today "Making Waves"

 

[TheBramble]

For Tony Plummer fans see my thread today "Making Waves"

Which BB Rognvald? OR...is there an easy way top search ALL BBs?

 

[Skimbleshanks]

If you use the Search facility on this site, you can put in the word Waves and it will find the thread, or alternatively you can click on the Search button beneath Rognvald's post which will search for all the posts made by Rognvald.

Or use the shortcut:
http://www.trade2win.co.uk/boards/showthread.php?s=&threadid=8082

 

[bagman]

good book or not to help me?

the way to trade by john piper---he has an address in the uk. :?:

 

[mully]

check J Piper thread

 

[Skimbleshanks]

I've merged the threads, so just look up.

 

[rog1111]

I have a hardback copy, but FWIW I didn't think much of it at the time. Maybe I'll have a re-read.....

rog1111

 

[Sharkfin]

John Piper's "The Way to Trade"

Seen references to this book on a number of threads on the main message boards - many positive - so surprised there are no reviews.
Can anyone recommend or otherwise this publication?

 

[bonsai]

Shark

just go ahead and buy it.

no self repecting enthusiast has less than 1 metre of books on his shelf

lol

 

[spgslege]

i purchased the book, read through it twice, but it didn't suit me. true to the guarantee, my money was refunded by paul handforth as soon as i contacted him.

Hi Seadog

Did you purchase the hard copy. As i've ordered it today But reading this tread not to sure now.

Cheers
SG