Customer Reviews

The 21 Irrefutable Truths of Trading: A Trader¿s Guide to Developing a Mind to Win

5 star:		(5)
4 star:		(3)
3 star:		(1)
2 star:		(1)
1 star:		(0)

 

 

Of the literally hundreds of stock market books I have read, I consider this book to be one of the top three. (The other two are: 1) How I Made $2,000,000 In The Stock Market by Darvas and 2) Zen In The Markets by Toppel). The 21 Irrefutable Truths Of Trading gives insights into how our beliefs and values influence our trading and how we can alter these beliefs and values. As the author says "The trading game is played out in the six inches of space between your ears!" This is a critically important book and I am very thankful the author wrote it.

Generally I don't enjoy reading books on trading psychology, or any other psych for that matter. When I purchased this, I assumed it was a general book on trading. Boy was I wrong!! The first half of the book is very well written and caused me to take some action on my beliefs. I am not someone who is easily impressed or convinced of anything, that is what made it so enjoyable to me. The second half on trading methodology was good and there were a few usable bits of information.

All in all, if you want a look at yourself as a trader or investor, this book is well worth the small pricetag.

Experience plus knowledge plus time equals wisdom. This book cuts to the bone that YOU are responsible for profits or losses, not the market. Gives the professionals money management thinking of first, not losing money vs the novice who only thinks of making money. It cuts through the hype of get-rich-quick techniques and market letters. Clear, logical, unemotional personal psychology, plus money management stratergies of risk/reward make this book one of the most valuable for novice or experienced investors. Investment wisdom rarely found. Buy and read this book. The advice is a bargain.

This book is a reality sandwich on what you will be facing in the trading world and how to best be prepared mentally. It does get a bit long winded at times but it's an easy read.

A must for the beginner.

Trading offers remarkable rewards and attracts many new entrants every year. Most rookie traders are sure that there is a relatively easy route to the crock of gold at the end of the rainbow. Veteran trader John Hayden, who has traded stocks, gold and U.S. Treasuries since 1976, disabuses his readers of any such notions; there is no way to short-cut the system. The book is divided into two sections: The first offers a sort of trader's self-improvement manual and concentrates on developing the attitudes needed to be a successful trader. As in many books within the personal growth oeuvre, this advice often consists of reiterating the glaringly obvious in condescending fashion. The second half is the more technical, and will be of more interest to the novice or intermediate-level trader, to whom we [...] recommend this book for its original observations and conclusions.

...as any trader knows, your state of mind is both your best friend and your worst enemy when moving, making and losing money in the market. I was very impressed with his almost "zen-like" perspective on the market.

...this is a solid work for the experienced or the beginner.

As I read it, my trading improved quite a bit. I had a 30% jump in just a few weeks...coincidence? It gave me perspective, as I contemplated this process. Life and the way of success is always more than charts, numbers and a bunch of egos. How you prevent the traps of "chasing" or holding long because you "absolutely know you must be right", he covers this area well. Moreover, it is well written.

I'd give it a 4.5 stars, but cannot...so instead I'll give it a 4 (with that footnote).

although, I am a novice trader (trainee), I have found this book to be succintly written to motivate the reader. It reads like a memoir, yet it's instructional and insightful. I found this book to help me on my personal life, too! it's not what happens to you that counts, it's how you interpret it to mean and how you run with it....it's rationally written with easy-to-follow methodologies. If you are interested in reading a book about what's it like to be a active trader, then I would consider this book to be a "Strong BUY" for you!

Trading, it has been said, is the hardest way to make an easy living. Mr. Hayden has provided an absolutely rigorous diagnosis of why traders win and lose. If you happen to fall in the latter category, do yourself a favor and study the contents of this book. It is essential. He has provided the trading public a true service.

The substance of this book could be reduced to about 10 pages of text...the rest is just fluff and filler. It reads like a term paper, where the writer is trying to find SOMETHING to fill the space with. The author overreaches. Yes, there are a few nuggets in here, but the same information is available in more useful format elsewhere.

Taken in a vacuum, the book contains useful information, especially for the beginner; but in the light of all the trading books out on the market today, there's nothing particularly new here: Control your emotions, and find a trading style suited to your personality.

One aspect of the book that I found annoying was the "Anthony Robbins" influence throughout most of the book (since most of the book concentrates on the psychological aspects of trading). Not that I necessarily disagree with Anthony Robbins -- but at this point, it's so.. TRITE.

Ho hum..