Customer Reviews

The Inner Game of Trading

5 star:		(8)
4 star:		(0)
3 star:		(1)
2 star:		(2)
1 star:		(2)

 

 

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.

I liked this book. The traders interviewed are all of high caliber. This is not the case with some of the interview format books out there. Basically you get what you pay for. No one should expect this book to provide explicit directions on hypno-therapy and NLP. I am not saying that these techniques are a cure all however they may be helpful for receptive individuals. It is funny, all of these books on trading pyschology either completely neglect or merely glance over one of the best ways to relieve stress, exercise! Certain breathing and stretching techniques can also be very helpful. Abell and Koppel have written quite a few books; you only need this one and "The Outer Game of Trading", all the rest are just rehashes. Try "Mindtraps" by Barach, it is good for stock market investors. "The Inner Game of Trading" while conceptually correct is too vague. More specificity is in order; more detailed techniques on how to combat our own, more often than not, rebellious minds.

Its not often you see a set of seminar overheads which with the addition of a chapter heading for each is then sprinkled with full quotes from "top traders" and hey presto a book that is not a book!! I've written books and this one is not a book - seminar compendium maybe. Koppel can do better.

Anyone who knows anything about trading will recognize this book as a valuable tool in tuning up the most important element of any trading plan, YOU! I've read about sixty trading books this year and found this to be excellent. I was able to relate to so many topics in the book that it seemed as though I was thinking out loud. That's only possible because Bob Koppel and Howard Abell know trading and traders. They know what it takes to win!

The discussion is highly focused on the psychological requirements for being a top trader. Very succinct writing style that is practical, with no unnecessary pop-psychological meandering. Definitely worth a read.

I found this book far more useful and informative than any of the many books available on trading psyche.The author's ideas and strategies ring true.If you've read any of the recently popular electronic or day trading books and don't know what is the next step--This book is for you.It is well written,concise,thoughtful and will make you a more profitable trader.

Another "Me Too" book. Nothing new in this book that you can find in a hundred other better books.

Similar to Market Wizards, this book has a basic presentation and then interviews with master traders. Unlike market wizards, this one explores internal psych issues that are encountered to trade correctly. It is not as many interviews as Market Wizards, and does include key trading techniques.

The authors write about the key factors involved in doing well in the market--a person's psychological state of mind. Although technique and tactics are important the trader's psychology is paramount. This is a basic text for anyone who trades equities or futures.

I found this book to be very insightful and clear. I would recommend it to both inexperienced and experienced traders. I also found the trader interviews as well as the chapters on the psychology of technical analysis thought provoking and profitable.