Master Traders: Strategies for Superior Returns from Todays Top Traders (Wiley Trading) [Hardcover]

Fari Hamzei (Author), Steve Shobin (Foreword)

Book Description

Publication Date: September 29, 2006 | Series: Wiley Trading (Book 266)

Master Traders introduces you to an outstanding group of financial experts—from seasoned hedge fund managers to top technical analysts—who discuss the methods they use to tame today’s highly volatile and unpredictable markets. Composed of chapters contributed by leading financial professionals, Master Traders contains a variety of proven strategies and techniques that will give you an edge in the world of stocks, options, and futures.

Editorial Reviews

From the Inside Flap

While there's no substitute for real-world trading experience, the chance to learn from those who have consistently succeeded in this demanding environment is the next best thing. In Master Traders, author Fari Hamzei provides you with the rare opportunity to learn from some of the top traders and market analysts in this business.

Engaging and informative, Master Traders introduces you to an outstanding group of financial experts—from seasoned hedge fund managers to top technical analysts—who discuss new and provocative methods that they use to tame today's highly volatile and unpredictable markets.

Composed of chapters contributed by these leading financial professionals, Master Traders contains a variety of proven strategies and techniques that will give you an edge in the world of stocks, options, and futures. You'll become familiar with many important strategies from advanced technical and sentiment analyses to pairs trading. Once you've gained a firm understanding of all the tools examined, you'll be able to choose the ones that best suit your trading style. Some of the advice and insights found within these pages include:

• The question is not whether fundamental analysis or technical analysis works, rather it is "how and when do they work?" (Jeff deGraaf)
• Understanding market-implied volatility is the key to bettering your trading performance. (Alex Jacobson)
• The ability to market time individual stock sectors can boost overall investment returns dramatically. (Frank Barbera)
• One way to approach investment opportunities in the biotech sector is not by chasing the big names, but by carefully researching second-tier players. (David Miller)
• The major advantage of using seasonality is that it allows you to trade those periods when seasonal tendencies are consistent. (Phil Erlanger)
• Given the cyclical nature of markets and the irrational behavior in the investment environment, the combination of technical and fundamental analyses can help you better identify potential trading opportunities. (Jeffrey Spotts)
• The markets for European derivatives, and options in particular, present unique opportunities to diversify holdings, hedge positions, or gain leverage. (Timothy Corliss)
• By following specific rules and methods, you can gain a better understanding of how volume interacts with price, and increase the accuracy of predicting future price patterns. (Tim Ord)

The professionals in this book have enjoyed extraordinary long-term success in the markets—and the hard-earned knowledge they've gained can be used to enhance your trading skills. Straightforward and accessible, Master Traders provides you with the information you need to succeed in today's dynamic markets.

From the Back Cover

Praise for Master Traders

"Fari Hamzei has assembled an impressive array of trading authors. Fari's own work on sentiment indicators is definitely worth reading, as usual, as is technical 'master' Phil Erlanger's. Furthermore, there is plenty of useful information on derivatives in the chapters by Alex Jacobson and Jon Najarian."
—Lawrence G. McMillan, The Option Strategist and President, McMillan Analysis Corp.

"Master Traders provides invaluable market education and wisdom from those who have distinguished themselves, not only by their track records in the market, but also for their risk and money management expertise. Strikingly, readers will find that these Masters use the basic understanding of human nature to achieve trading success and know how to achieve simplicity by focusing on the essence of opportunity."
—Mario Alberico, Partner, Financial Services Industry, Accenture, LLP and former senior vice president of electronic trading and market data, Chicago Mercantile Exchange

"Fari Hamzei knows a lot about the markets and so do the traders/analysts he has assembled here. From sector analysis to option strategies, from price and volume to volatility, there is sure to be something of interest in this compilation for every trader."
—John Bollinger, CFA, CMT, BollingerBands.com

"A straightforward, down-to-earth guide to using technical analysis, tips from the master traders, and excellent options information for successful trading. In my opinion, a manual every investor can profit from."
—Ned Bennett, CEO and co-founder, optionsXpress, Inc.

See all Editorial Reviews

Product Details

• Hardcover: 302 pages
• Publisher: Wiley; 1 edition (September 29, 2006)
• Language: English
• ISBN-10: 0471790621
• ISBN-13: 978-0471790624
• Product Dimensions: 6.4 x 1.1 x 9.1 inches
• Shipping Weight: 1.1 pounds (View shipping rates and policies)
• Average Customer Review: 4.4 out of 5 stars  See all reviews (10 customer reviews)
• Amazon Best Sellers Rank: #848,991 in Books (See Top 100 in Books)

Most Helpful Customer Reviews

31 of 35 people found the following review helpful

3.0 out of 5 stars 13 diverse essays with even more diverse value/quality September 2, 2007

By ServantofGod

Format:Hardcover

If you compare this book directly with Market Wizards I & II, you will definitely be very disappointed. However, if the presence of one or two very bright ideas in one single book can already satisfy you well, you may still give it a try. IMHO, the chapter by David Miller (Keys to Biotech Investing) is outstanding, whilst the rest are just so so or even substandard. Sorry to say that there are many better alternatives in the market of the "various authors" genre, like the aforesaid ones and "Inside the House of Money" by Steven Drobny. In short, not recommended.

17 of 20 people found the following review helpful

5.0 out of 5 stars Ground Truth March 24, 2007

By Thomas

Format:Hardcover

Before becoming a professional trader, I had success both on an academic, professional, and entrepreneurial level. The most important thing I learned was to find successful people who were doing what I wanted to do and then learn everything I possibly could from them. This may sound simple, but research shows successful ventures often fail right after some of their most successful years. The same thing occurs in financial trading. Someone has initial success, but then fails to adapt, grow, and change. Consequently, the market crushes them. This is usually due to being too rigid in their views or a lack of rigorous discipline that enables them to continually stay ahead of the curve. The best way to avoid these pitfalls is to study the "best" and learn how they achieved and maintain their success. In the military, there is a term called "ground truth." This information is considered the most valuable. It is distinguished from the theoretical and refers to what has actually happened on the field of battle. In his well researched book, Fari Hamzei has brought together some of most relevant voices today in investing and trading financial securities. It truly is packed with some of the most valuable "ground truth" in the field of trading. Whether it is Kevin Tuttle's insights into technical analysis, quantitative screening, and divergence theory or Tim Ord's methods in identifying buy and sell signals through evaluating volume and price, Fari Hamzei gives a rare behind the scenes look at some of the best financials professionals in the field. In addition, Hamzei's pioneering work on dollar weighted put/call ratios is an extremely valuable market sentiment indicator. I have not even mentioned Alex Jacobson, Phil Erlanger, etc... Simply put, this book is guaranteed to change the way you see the market and trade it. I whole-heartedly recommend you read and reread "Master Traders."

11 of 14 people found the following review helpful

5.0 out of 5 stars Good book June 11, 2007

By Gareth J. Hooper

Format:Hardcover|Amazon Verified Purchase

All in all I'm glad I read the book. There's a couple of chapters on options that I learned one thing that more than paid for the price of the book and my time to read it. I was a little disappointed with the book however. Most the technical analysis chapters are simply inpractical for the average home based investored to use. They would require a lot of manual number crunching, or a subscription to a website.

But still, there were some gems in the book, and I've changed the way I would enter some options trades after reading it, so it still gets 5 stars.