The Four Cardinal Principles of Trading: How the World's Top Traders Identify Trends, Cut Losses, Maximize Profits & Manage Risk (Hardcover)

~ (Author) "Profitable commodity trading is one of the most difficult endeavors known to man..." (more)
Key Phrases: successive price bars, classical chart patterns, trading with the trend, Jack Schwager, Jake Bernstein, Bob Jubb (more...)

Editorial Reviews

Product Description

Successful traders utilize a wide variety of approaches to attack the markets. Irrespective of the approach, virtually every top trader abides by four key principles: trade with the trend, cut losses short, let profits run, and manage risk. In this eagerly anticipated book, trading expert Bruce Babcock fully explains each of these principles and shows readers how to implement the four principles in their own trading. Consisting of a series of interviews with top traders, Babcock demonstrates that while there are many ways to trade, only those traders who rigorously apply the four principles will achieve lasting success. Featured traders include Jack Schwager, Larry Williams, and Tom Aspray. All traders, from rank beginners to seasoned veterans, will enjoy and benefit from this important new book.

Product Details

• Hardcover: 218 pages
• Publisher: McGraw-Hill; 1 edition (March 1, 1996)
• Language: English
• ISBN-10: 0786310103
• ISBN-13: 978-0786310104
• Product Dimensions: 9.3 x 6.3 x 0.9 inches
• Shipping Weight: 1.3 pounds
• Average Customer Review: 2.0 out of 5 stars  See all reviews (6 customer reviews)
• Amazon.com Sales Rank: #629,430 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

20 of 23 people found the following review helpful:

1.0 out of 5 stars $28 for four liners, March 21, 1999

By A Customer

1.Identify Trends 2.Cut Losses 3.Maximize Profits 4.Manage Risk. Now send me $28 and forget about the book!

11 of 12 people found the following review helpful:

2.0 out of 5 stars Better Look Elsewhere..., October 14, 1998

By	[e-mail] (Chicago, IL) - See all my reviews

In a nutshell - the four rules - trade with the trend, cut losers, let winners run, and money management. Now you won't need the book. He interviews "top" traders and asks them the same questions. Example "Do agree trading with the trend is important?" Ans "Of course". These things I knew before I wasted money on this book. As another reviewer said "If you want this book, you can have mine" I'd love to stop myself out of it!

14 of 16 people found the following review helpful:

1.0 out of 5 stars Read the dust jacket, pass on the book, November 27, 1998

By A Customer

Read the dust jacket and learn the four key principles: trade with the trend, cut losses short, let profits run, and manage risk. You don't need to spend the $28 to buy the book.