Average Reviews:
(More customer reviews)I have been trading stocks on and off for many years, and much more earnestly in the recent past. About Three years ago I got the financial "bug" to take control over my own financial destiny. Since that time I have read more than 45 books and hundreds of magazine articles on stocks, options, futures, forex, day trading and various methodologies. It was not until I read "Trade Like The Little Guy" that I started trading successfully and stopped losing money!
The information contained in this book is presented in a very straight-forward and easy-to-understand manner. The main principal this book taught me was to have patience. Wait for the market to unfold and give up the information it has to allow you to make intelligent decisions about your trading. So now I always ask myself "What is the market telling me now?".
In addition the other point driven home for me was to switch my focus on preservation of capital and mitigation of risk, rather than simply focusing on how much I "might" make on a given trade. This has actually allowed me to live the old addage "Cut your losses short and let your profits run!"; a practice much more easily said than done, until I read this book.
Up until this point I had never really used Stock Screeners, but after reading this book, and trying them myself, I am now a believer.
From thesis development to risk management and trade execution, this book provides an excellent springboard into a larger world, and helps you focus on becoming a more disciplined trader. It has has improved my success rate substantially. A must read for traders of all levels!
Click Here to see more reviews about: Trade Like the Little Guy: How a small trader can consistently profit in the markets, Second Edition
Trade Like the Little Guy (second edition) takes the approach that the small trader is not like the large trader - they have a unique footprint. They are able to dart in and out of stocks easily and find that high levels of cash are safer in times of uncertainty rather than in safe stocks. Small traders have advantages and it is imperative that they use them. Trade Like the Little Guy informs the everyday trader on how to successfully build wealth over time in a methodical fashion. It starts with a current market thesis and then seeks to exploit opportunities in the market place with trading ideas that are congruent with that thesis. The book starts with a definition of a successful trader and then shows you how to become one. Emphasis is place on risk factors and risk management; trading tools; thesis creation and the formation of a trading strategy. Through the use of a real world trading example, the concept of Active Portfolio Management is shown to minimize risks while creating substantial rewards.
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