Trader Vic II: Principles of Professional Speculation
$17.61
| Author(s) | |
|---|---|
| Pages |
146 |
| Format |
|
| Published Date |
1998 |
In Trader Vic-Methods of a Wall Street Master, Victor Sperandeo introduced the basic principles of speculation for the amateur or professional trader. The purpose of this book is to go a step further and provide detailed analytical tools for market analysis and forecasting. It is a user’s manual. if you will, for the established pro. Its message is directed at professional traders, those who wish to be professional traders. and those who love the markets as a passionate hobby, in lieu of golf or other timeconsuming activities. The purpose is simple: to help improve your trading and. as. a result, to help you make more money.
To achieve any level of success in trading requires a significant investmerit in time and effort. All markets are the same in one important aspect: They constantly change. Keeping on top of everything takes discipline, research, attention to detail, and continuous study. But what is the best approach for that study? With all there is to master, what is the best way to decide what to buy and sell?
Contents:
- The Fundamental Principles of a Sound Investment Philosophy
- The Economic Principles of Market Forecasting
- Money, Credit, and the Business Cycle
- Political Influences on the Business Cycle
- Applying Macrofundamental Analysis to Economic Forecasting: An Outlook for the 1990s
- The History and Future of the Dollar
- Volatility, Opportunity, and Growth of Gross National Product
- The Stock Market as Economic Forcaster: The lessons of History
- The Technical Basis of Risk-Reward Analysis
- The Technical Principles of Market Analysis Applied
- The Principles of Technical Analysis Applied
- Options: The Key to Triple-Digit Returns
- A Professional Method of Day Trading
- The Character and Personality of a Trader
Trader Vic II: Principles of Professional Speculation By Victor Sperandeo pdf
18 reviews for Trader Vic II: Principles of Professional Speculation
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Haylee Young (verified owner) –
First, there was Jesse Livermore. Next, there was Nicolas Darvas. And, there was William O’Neil. Then, alas, here he is. Victor Sperandeo! The tradition continues.
Cole Gonzalez (verified owner) –
bought this for the stock market tips. This was back before the recession when the stock market was still doing ok.
Phoebe Frederick (verified owner) –
This is a great book and should be read to the very end. Usually when an author puts out a first book that is great the 2nd book falls short. This the second book is every bit as good as the first book. Thanks Vic – I hope to one day have the pleasure of meeting you in person.
Abner Rollins (verified owner) –
The options section pays for the entire book. I read through the section every time I put on a questionable trade, so I can see if I’ve done something wrong. But options aren’t the only thing he gives you in the book.
What I really admire about Trader Vic is that he is willing to state his disagreement with something and then admit it’s possible validity. He gives charts that work for him after telling the story about an indecisive chartist he hired, who could never give him a sure answer. He gives some fundementals to look for. His offering is a wide variety that aims to help amateur and intermediate traders expand their world view on the markets and for me it made me realize what I was doing.
I have to go back to the options. I almost exclusively trade options. I’ve tried my hands at futures, I like them, I like Futures options, and I like stocks, I doubled my first 2,000 dollars, trading just stocks during the first part of the rally in 09, but options have not only been my bread and butter, they’ve not only reduced my stress while trading, they are the one instrument that goes with my personality. In trading, that’s all that matters, anyone that tells you differently is a fool. Any system can make anyone money, as long as that system goes with the person. His four rules for option trading are golden.
1. Keep Trades small: 2 to 3 percent of your risk capital. (I started out with five, going as high as fifteen due to my limited capital and now trade about 3 to 10%, usually 5% again).
2. Trade only when the odds are in your favor. (Honestly, options is strictly a game of odds and percentages, it’s how I taught my friends to trade them. With the two encyclopedias by Thomas Bulkowski on Chart Patterns and Candlestick Patterns, you can really game your percentages even better.)
3. Trade only when the potential payout is at least 5 to 1. (Honestly great advice, it gives you a wide girth for being completely wrong, I personally cut my losses at 30 to 50% depending on how much I’ve invested in the option)
4. Never buy just because the price is low; never sell just because the price is high. (This is not to be confused with don’t buy low valued options. Some of my top trades have come from such arbitrage opportunities).
I am truly impressed with this work, and believe it can add another level to any traders trading.
Araceli Carrillo (verified owner) –
Trader Vic II is a coherent and very well written sequel to Mr. Sperandeo’s first book.
From the first book to this one Victor Sperandeo didn’t change the way he trades or forget all the outstanding analysis he’s done, some dating back to the 1890’s. Trader Vic II builds on the first book adding an outstanding discussion of using Options during market transitions vs. the underlying instruments during mid points of trends.
Additionally, he outlines his methodology for day trading. Along with this discussion there are a lot of charts with actual examples of how he applies his techniques and data giving the reader a sense of how his work comes together in the market.
Some of the terminology from Trader Vic I is refined and as is usually the case it makes even more sense when reading it a second time.
It is important to note that the foundation for his hard earned success doesn’t change from his first book to this one. There are several reviews about how some information is repeated from the first book, true, but hardly a worthwhile critique of Trader Vic II.
Victor Sperandeo isn’t a man with his finger in the wind waiting to see what the latest fad is going to be. He made his fortune trading and doing it his way. He also has no control if somebody picks up Trader Vic II before or in lieu of Trader Vic I. Without the foundation that he assembled in Trader Vic I a lot of Trader Vic II wouldn’t make sense so he opts to go over the principals of his application of Dow Theory, Trends, Reversals and the incorporation of macro economic data.
The fact that he covers material from Trader Vic I in II appears to irritate a lot of the reviewers and I am nobody to criticize my peers on this thread, but I will pose this question. Would those that are so critical of his election to cover some material again have been happier if he said screw the reader, you have to go buy the first book to understand the second. If he isn’t getting criticized about reiterating some key concepts he will be getting criticized for writing a second book that is only marginally functional without the first one.
Anybody that is going to trade seriously is going to risk hundreds if not thousands of dollars in their first trades using endless software subscriptions and paying other fees. Invest some of that capital in Trader Vic I and II and you will have a lot less at risk in them market.
Edward David (verified owner) –
After the first book I kept wondering what can come next. This book is build on top of the previous book and went on to show how to effectively trade using the information provided.
The methods shown takes out 80% to 90% profit of every trend and is very intuitive.
Thanks Victor.
Kase Villalobos (verified owner) –
This book was somewhat of a rehash of the earlier book. For this reason I give it a bit lower rating. I bought the book because I study patterns in financial data. This book covers the 2B pattern which is a really good one to know. The first book also covers the 2B pattern as well, so overall, I’d probably guide you to the first book. It is an older book however, and many of the concepts may be dated for present day markets as the economy / stock market these days is driven by different forces than in the past. If you are a serious trader however, they should probably both be in your library.
Alaina Payne (verified owner) –
Clear, concise, real world tips and Vic’s way of trading. His book is one of those investment books you want to keep on the shelf and re-read. I have read it twice and I think I will read it again in the near futures. Lots of useful, actionable information from a seasoned pro. Classic Keeper!
Dylan Grant (verified owner) –
With a different perspective of what our government tries to impose upon us. Book makes sense and I loved it. I wish more people thought like this as it would make this a better world. Teaches that profit isn’t evil, it is necessary.
Abigail Cantu (verified owner) –
This is a really strange book. Half of the book is explaining the basic economy, second the basic trading tools with some mystic ruleses.
Charleigh Ellis (verified owner) –
I read both his books and highly recommend them to anyone serious about investing. Sperandeo’s books were some of the most educational out of the many, many I have now read.
Delaney Compton (verified owner) –
it’s OK
Wade Franco (verified owner) –
Excellent reading.
Anakin Lyons (verified owner) –
Helped me with my insomnia, cocaine and meth addictions problems, no need to take sleep medication.. After reading this book you cured!
Zoya Nelson (verified owner) –
Victor Sperandeo certainly is an interesting read and you can tell his passion and depth of knowledge in these pages. I recently listened to a podcast from him (recorded in 2014 I believe) and his views are the same and more intense. This book is getting dated but sad to say, the path that he warns us about is still clear. The trading techniques aren’t abundant in these pages and I think his trader’s psychology section was a bit weak. However, he does an amazing job of explaining economics and you can tell that is his passion in this book. One of the principles Vic states is being aware of what’s going on in the world (macro econ) and this book fits that niche.
Daxton Lawson (verified owner) –
Fabulous reading and excellent, excellent information!
Ariyah Park (verified owner) –
Great descriptions of world economics, and their effects on trading markets.
Asher Schneider (verified owner) –
book is excellent