by Marcel Link
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| List Price: | $39.95 |
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Product Description
A common denominator among most new traders is that, within six months of launching their new pursuit, they are out of money and out of trading. High-Probability Trading softens the impact of this "trader's tuition," detailing a comprehensive program for weathering those perilous first months and becoming a profitable trader. This no-nonsense book takes a uniquely blunt look at the realities of trading. Filled with real-life examples and intended for use by both short- and long-term traders, it explores each aspect of successful trading.
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Average Customer Review:
0 of 0 people found the following review helpful:
 One of the Few Skills-Based Books I've Read, 2008-05-26
Unlike most books on trading, this one isn't filled with fluff. It shows you how to trade, as promised. As a very experienced trader, while I did not learn a whole lot of new material, the author's ability to crystallize difficult material into a readable form should be commended, as this is a feat extremely difficult to achieve. Excellent book. Highly recommended.
0 of 0 people found the following review helpful:
 Easily pays for itself, 2008-04-28
Until last year I was satisfied to shift my investments around between Fidelity funds. Since then I've been using a brokerage account and ETFs with a small amount of experimentation with options.
A brokerage account with real-time software is a dangerous thing, and I've made some expensive mistakes. Previous investment books have been useful, but none has helped me as much as High Probability Trading in identifying my psychological weaknesses (chasing trends, ignoring timing, overconfidence ...) and giving me concrete advice on correcting them. I look back on recent trades and cringe now -- the losses would have been less and the gains more if I had been doing what I am now. Not that I expect this book to turn me into a sure winner, but based on looking back I would have lost less and made more.
The author's style is quite personal, with lots of amusing and educational anecdotes.
What's not to like about it? The author's orientation is short-term (day or a few days) trading of futures, but he has tried to include stock traders and investors too. Perhaps addressing multiple audiences slightly dilutes the message for any single group, but most of the advice applies to several asset classes and time periods, and will make you question what you're really most comfortable with. It caught me at the right developmental stage, but if you don't feel a need to address the issues that are raised, or have already dealt with them, it wouldn't be as useful to you.
Disclaimer: I'm only about 50% through the book, but found it so useful that a review might be helpful to others now. Although I have a five star feeling from the first part, it's getting only four in this review because it's only based on the first part.
0 of 0 people found the following review helpful:
The Complete Traders Handbook, 2008-04-07
This book is excellent. All aspects of trading covered & dealt with in candid form. Marcel is open about his own shortcomings & failures. He has been there, done that. And also deals with the most important areas of money management & psychology. Bob
0 of 0 people found the following review helpful:
Good book, 2008-03-19
This is one of the great books that I read. I know many will say that the information in the book is available free on the internet, yes it is true, but not in a systematic manner in which the author does it in this book.
I think every new trader should read this book before beginning trading.
0 of 0 people found the following review helpful:
Overview of Trading Disciplines, 2008-02-08
This is not really a trading systems book, although some systems are discussed. It is an overview of fundamental disciplines that traders can use for making and keeping money. Although not exciting in themselves, these disciplines will probably make or break a trader. A successful trader will already have integrated most of this information. The book is well organized and reads easily enough.
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