got the book yesterday, and read the first 3 profiles.
first - it's very good. i find it speaks to me MUCH more than market wizards did. that's not a knock on mkt wizards; while some consider it absolutely essential, i think of it as just pretty good. maybe because (some) of the traders in that book are at such a higher level / more capital that i'll never reach.
but back to millionaire traders. i'm reading it, and although the traders don't trade how i trade, i'm reading and saying "yup, that's me!", "that's how i lost money" or many similar things. there were many sentences that could be taken out and compiled for a list of "things to do - things NOT to do". especially the part from the pip trader when others were comparing him to another trader, and he asked if the other trader was going to pay his bills? no, then it doesn't matter - it only matters what's good for *you*.
it doesn't give the exact methodologies involved with any of the traders. what it does is emphasize finding out who you are and what you're comfortable with. if the rest of the book is like the first few chapters, then this book immediately becomes THE interview book to own for wanna-be traders, as well as those individuals who have been trading for a while and are looking to reinforce good habits while eschewing bad ones.
can't give it higher praise than that. just hope the rest of the book is as strong.
(oh; my history: 8 years full time equities, daytrader, and i do NOT play with the big boys' stocks).
btw, boris, i know there's play on a cnbc set; i should have put a smiley face on the end of it, and if the person said it in that fashion, it would have gotten the point approach in a similarly playful way.
first - it's very good. i find it speaks to me MUCH more than market wizards did. that's not a knock on mkt wizards; while some consider it absolutely essential, i think of it as just pretty good. maybe because (some) of the traders in that book are at such a higher level / more capital that i'll never reach.
but back to millionaire traders. i'm reading it, and although the traders don't trade how i trade, i'm reading and saying "yup, that's me!", "that's how i lost money" or many similar things. there were many sentences that could be taken out and compiled for a list of "things to do - things NOT to do". especially the part from the pip trader when others were comparing him to another trader, and he asked if the other trader was going to pay his bills? no, then it doesn't matter - it only matters what's good for *you*.
it doesn't give the exact methodologies involved with any of the traders. what it does is emphasize finding out who you are and what you're comfortable with. if the rest of the book is like the first few chapters, then this book immediately becomes THE interview book to own for wanna-be traders, as well as those individuals who have been trading for a while and are looking to reinforce good habits while eschewing bad ones.
can't give it higher praise than that. just hope the rest of the book is as strong.
(oh; my history: 8 years full time equities, daytrader, and i do NOT play with the big boys' stocks).
btw, boris, i know there's play on a cnbc set; i should have put a smiley face on the end of it, and if the person said it in that fashion, it would have gotten the point approach in a similarly playful way.
