Traders’ Secrets passes the two requirements for any book to become a classic-it combines crystal clarity with the original, insightful detail. Each chapter describes the methods of its interviews in precise detail. It further provides a psychological profile and context.
Too often trading books provide minimal generalizations about trading strategies and systems, and worse yet, negligible detail about all important trading psychology. Consequently, Traders’ Secrets is a fresh, original and valuable break from the norm in trading books. The interviewees in this book have been tremendously helpful and generous in describing their methods, systems, backgrounds and years of research. They come from a variety of backgrounds -fundamentalists, intuitive, technical analysts, stock, futures, commodities traders.
There is something for all traders in here. Modeling oneself on the success of others is probably the best way to success for oneself. Why wait to learn from your own mistakes when you can learn from the years of mistakes and successes of others? A feature of Traders’ Secrets Psychological & Technical Analysis I found particularly valuable was the interviewee profiles based on analysis and psychology. These ensure that no one should finish a chapter feeling they did not ‘suck the marrow’ from it and learn every single valuable lesson contained therein.
This feature of the book also amplifies its clarity and means the reader can test the systems for themselves and see what suits their own personality. It’s about time more trading books were written with a similar concern for the leader. The subtitle Real People Becoming Successful Traders only modestly hints at a vital feature of the book, namely that these interviewees are ‘real’, ‘normal’ traders who have proved successful. They are traders with whom the reader can more readily relate than if they were the Soros’s or Buffet’s of the world.
And this is very important yet novel. The traders in Traders’ Secrets Psychological & Technical Analysis probably make far better trading models than the big institutional traders or fund managers who employ whole research departments and Nobel Laureates to form their systems. (Although, I understand that Nobel Laureates can be a distinct trading disadvantage.) The interviewees in this book, unlike some trading ‘wizards’ will not baffle the reader with fuzzy logic, artificial intelligence or undisclosed black box systems. The analysis used by these successful traders is open to all.
In researching my own books, probably the most important lesson I have learnt from meeting and interviewing some of the world’s best traders is that there is no substitute for hard work, planning and self-discipline. Trading appears deceptively easy, especially in a world of Internet brokers where online accounts can readily be opened. If you want trading success, your path will be shorter and more direct if you read this book.
- Yousef Hashmi: The Canadian Don Quixote
- Glen Ring : A jack of all traders
- Herb Drechsler : Never too old
- Sheldon Knight : A knight in technical armor
- Stelios Christakos : A gifted Greek
- Bob Watson : The Zen trading warrior
- Ed Pomeranz : Caviar to schnitzel
- Neal Dietz : The “Systems Man”
- John Fritz : Born to be special
- Alta Wood : Living the real bull market
- Al Gerebizza : His own genie in a bottle
- Mike Battle : Sticking to his guns
- Scott Krieger : West meets East
- Tom Bierovic : On the road again
Traders' Secrets Psychological & Technical Analysis: Real People Becoming Successful Traders By Murray A. Ruggiero pdf