Master Traders: Strategies for Superior Returns from Today’s Top Traders
$10.39
| Author(s) | |
|---|---|
| Pages |
307 |
| Format |
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| Published Date |
2006 |
Master Traders: Strategies for Superior Returns from Today’s Top Traders is a comprehensive and sweeping look at how various individuals continuously master and overcome the emotionalism of every trading day. While not a daily journal, this wonderfully illuminating book succinctly describes the methodologies that have enabled the writers to translate probability into profitability.
Introduction:
Master Traders is not meant to be a how-to book. Rather, each chapter is more of a tutorial that shares with the reader various regimens that have enabled the traders and market analysts who have written these chapters to develop significant degrees of control over their investment destinies. At the same time it is a concession that there are many ways to skin a cat—that the uniqueness and individuality of every trader will probably be the most important factor in gauging the utility of any methodology.
This book focuses on how the contributors achieve their own brand of master trading. None of them claims to have figured out the stock market in its entirety. What they have managed to find is a system that works for them. As you read their discussions of systems and strategies, you will sometimes be reviewing basics. But even master traders who have moved on to greater levels of sophistication understand the need to conquer the basics and progress beyond them. The contributors to this book are, first and foremost, students of the markets, willing to offer ideas and share a career-long commitment to learning.
If you had a 30-minute lesson with Ben Hogan, you would not spend it asking him what type of ball to hit or what kind of grips he kept on his clubs. Sure, you would want any tips he was willing to impart, but an issue of Golf Digest could tell you a variation on the same. No, what you’d really want to learn is how he found his greatness; what extra something allowed him to separate himself from the pack—what made him an artist among athletes; what made him a master.
Contents:
- Playing with Fear and Arrogance
- Sector Analysis: Tools of the Trade
- Evaluating Probabilities to Improve Profitability
- The Secret Science of Price and Volume
- The Keys to Biotech Investing
- Investigative Investing: Themes and Methods for Uncovering Value
- The Secret Messages of Equity and Options Markets
- Trading Seasonality
- Volatility and Its Importance to Option Investors
- A New Options Game: The Market Taker
- Making Sense of Market Moves: Using Technical and Fundamental Analysis Together
- New World Trading of Old World Markets: European Derivatives
- Options Applications to Pairs Trading
- Beyond the Horizon
Master Traders: Strategies for Superior Returns from Today's Top Traders By Fari Hamzei pdf
6 reviews for Master Traders: Strategies for Superior Returns from Today’s Top Traders
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Anders Lopez (verified owner) –
Master trader Fari Hamzei uses inductive reasoning like current back-to-back World Chess Champion Viswanathan Anand. Fari has won numerous “Market Timer” awards (which means his skills are legit) and he is a highly respected member of the quantitative (“quant”) trading community. He is the founder of Hamzei Analytics.
I recently read Fari’s excellent book Master Traders: Strategies for Superior Returns from Today’s Top Traders. This book is full of great lessons for the intermediate or advanced trader. The book is a collection of educational chapters by masters of their specific trading niche.
The first part of the book focuses on Technical Analysis. In each chapter, the author shares a few secrets about their proprietary trading methods. In Chapter One, Jeff deGraaf discusses how traders can profit when fear or arrogance manifests in the market. deGraaf also offers pithy nuggest of wisdom such as: “In the market, arrogance without fear will eventually break you. Fear without arrogance will leave you paralyzed at the most inopportune time. The delicate balance of fear and arrogance fosters appropriate aggressiveness without the recklessness.”
My favorite chapter in section one is Chapter Two: Sector Analysis. Given the incredible explosion in sector ETFs, I think this chapter greatly benefits investors/traders who want to better understand some technical tools analyzing sector rotation and trends. I have already taken a few ideas onto the trading battle field.
The second section of Fari’s book looks at Fundamental Analysis. I found Chapter 6, Investigative Investing, to be one of the top overviews regarding best-of-breed fundamental analysis. If you are interested in taking your Warren Buffett, Peter Lynch, or YahooFinance skills to the next level, chapter author Kai-teh Tao makes this book worth the price of admission.
The final three sections cover Sentiment, Derivatives, and Trading Size. These sections will make the quants salivate. Honestly, quantitative models and high level options strategies are not my style of trading. But I did read through all the material and it’s excellent. In fact, I was left with a feeling of jealousy that in this lifetime I probably won’t have time to create such cool models and platforms. Now, if I could only find a quant or two who would like to crank out my wildest strategies …
In conclusion, Fari did a great job assembling a professional team of traders to share their wealth of knowledge. If you are looking for a new edge and want to get fresh ideas from true masters of their domain, I highly recommend Fari’s book!
Maren Weeks (verified owner) –
there are many other trading books out there worth your money. you wont learn a single thing on here that common sense wont give you.
Raven Ayers (verified owner) –
In his work “Master Traders: Strategies for Superior Returns from Today’s Top Traders,” Fari Hamzei brings together a diverse group of traders to supplement any trader’s understanding of the market. This collection of strategies, analysis and experience provide a wealth of knowledge to increase understanding of both simple and complex aspects of trading, from the basics of balancing feelings of greed and fear to options, inter-market analysis and beyond. The information contained in this book do a great deal to help traders find the preponderance of evidence necessary to have absolute confidence in the decisions made in entry and exit of various types of position.
The insight collected by Fari in editing this book gives a great deal of confidence to the reader because of Fari’s knowledge and reputation, and the vast collection of traders contributing to the work. Included in the book are Fari’s thoughts on how to read the ebb and flow of the markets, the market sentiment. Master Traders integrates Jeff deGraaf’s thoughts on balancing emotion; David Miller enlightens fundamental traders on the ins and outs of the biotech industry; Jon Najarian shares his years of experience trading options, and much more from other top traders – including Tim Ord of “The Ord Oracle,” Alex Jacobsen from the International Securities Exchange (ISE), Frank Barbera a master in the precious metals, and many others.
The organization of the book assists in the flow of information, constantly building and adding after building a solid foundation. It is easy to follow as articles are organized into sections that get progressively deeper and more involved in trading, beginning with Jeff deGraaf’s and others providing a solid foundation in technical analysis, moving on to fundamental analysis, market sentiment, on to derivatives and finishing with a section on trading size and some closing thoughts from Fari himself. The knowledge contained in this book has done a great deal to take my own trading to another level. Gaining a better understanding of the ebb and flow of the market has done a great deal to increase my own confidence in my trading decisions, measured by the improved consistency of my own performance.
There is something in Master Traders for all levels of traders. The novice can learn some of the most basic aspects of strategy building, analysis and benefits of trading various classes of assets (stocks, options, futures, etc.). They can also gain a wealth of understanding about oscillators and other indicators, how they can improve trading and the importance of mastering the preferred indicators. In the world of trading, there are no minor leagues to prepare for trading with the big boys; from day one, a novice is playing in the same arena as the Kobe Bryants and Lebron Jameses of the trading world. Fari’s book begins at square one, helping the trader find confidence as they nervously enter the world of trading. For experienced traders there is an immense amount of information to help improve one’s skills in both technical and fundamental analysis of stocks and the markets themselves. Fari is able to help an advanced trader understand ways to refine their skills to improve profitability, understanding of the market, the effect of external influences and more.
Paislee Hebert (verified owner) –
If you compare this book directly with Market Wizards I & II, you will definitely be very disappointed. However, if the presence of one or two very bright ideas in one single book can already satisfy you well, you may still give it a try. IMHO, the chapter by David Miller (Keys to Biotech Investing) is outstanding, whilst the rest are just so so or even substandard. Sorry to say that there are many better alternatives in the market of the “various authors” genre, like the aforesaid ones and “Inside the House of Money” by Steven Drobny. In short, not recommended.
Ulises Mann (verified owner) –
The strategies in this book are from the past. We are in a different time and era. This book was of no value to me. I gave it to the library.
Guillermo Harmon (verified owner) –
All in all I’m glad I read the book. There’s a couple of chapters on options that I learned one thing that more than paid for the price of the book and my time to read it. I was a little disappointed with the book however. Most the technical analysis chapters are simply inpractical for the average home based investored to use. They would require a lot of manual number crunching, or a subscription to a website.
But still, there were some gems in the book, and I’ve changed the way I would enter some options trades after reading it, so it still gets 5 stars.