Average Reviews:
(More customer reviews)This book reminds me of a sentence I saw in Time Magazine several years ago from Bono of U2. "To me, writing a song is easy. Writing a good song is not."
The authors had given a good eg of the above and showed how to write and sell a trading book with the least effort.
First, create an eye catching name. "The inner game of trading" certainly qualifies. It is the best part of the book, in my opinion.
Second, talk about trading psychology. Ask readers whether they have goals, plans, strategies, the right motive (money should never be the first priority, they said) before any trade. Ask them to model themselves after successful traders to have edges in discipline, focus, knowledge...If you dont follow these and you dont know how to answer the questions, that's your fault. (Should the readers have a degree in psychology before reading this book so that they can condition themselves psychologically just by reading less than 10 pages of 1.5 line spacing script and undergoing serious personality change). 50 pages
Third, interviews with some famous names or at least figure heads from CME, so other members of the Exchange will do the recommendation and referral. They had Leo Melamed, who to me is a diplomat or CEO much and not a trader. 60 pages
Fourth, put some intelligent sayings, relevant or not, here and there. Appeal to experts, for the name of Thomas Edison and President Lincoln, can heighten trustworthiness.
Fifth, show charts and graphs, talk about technical analysis so that everything looks more scientific. 40 pages
Sixth, conclude that if readers can cut loss short, let profit ride, discipline themselves then they will be winners. The authors had not told you how but they had done their part. If the reader fails, it's just that he/she does not follow the teachings or lessons good enough. 30 pages
I am sorry to say so but I have to conclude that the authors just want cash in on their dubious trading knowledge (being in the trade is different from trading successfully), relation with institutions and the urge of market participants for trading advice. Certainly, writing a book can help the promotion of their daily business.
To save the best for last, the authors said that over 80% of market participants are losers and the turnover rate in CME had been 1/3 per annum. If you would like to belong to the crowd, buy and hold on to this book.
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