Customer Reviews

The Tao of Trading: Discovering a Simpler Path to Success

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

 

 

This book deals with some really important points. Having read it after 'The Intuitive Trader' and 'The Inner Game of Trading', I found the points he makes in this book worthwhile, but repetitive of the other 2. I recommend 'The Inner ...if you were to buy only one.

If you really believe that the Eastern philosophy of Tao/Taoism can enhance your success in trading, buy and read "The way of the warrior trader, the financial risk taker's guide to samurai courage, confidence and discipline" by Dr. Richard D.McCall. Dont waste your time and money on somebody who knows so little about Tao and just does copy and paste Chinese adages and his own old writings here and there.

p.s. I had read Koppel's other books before and had rated them as two or three star stuff. I am so sorry that I had not disciplined myself enough to stop making another unnecessary loss for being attracted by the appealing title of the book. The good thing is: I borrowed this one from the library.

Koppel may as well update a single book with new volumes rather than writing a new book with a new "twist" on it. A book on "Tao", and "intuition" relating to trading.

What's next, "physical strength" related to trading? I don't know how serious Koppel is regarding to Tao. It seems like he found a philisophical and complex subject, like ancient religion, and found whatever way he could to relate it to trading. His link was a waste of time and served no purpose. Drop the Tao, stick with the important topics, stay serious. I got no similarity between Tao as he describes it and anything applicable in my trading.

I can imagine his next book: "Gardening and Trading" where one would compare the features of "gardening" to "trading" and the demands and features that are similar to both of them. "You must trim dead leaves in your garden. You also trim losing positions in your portfolio. Only open new trades when they show promise and watch it bloom into a wonderful gain, as you would buy a seed to watch it bloom into a wonderful plant."

They don't have anything to do with each other, yet, the author goes out of his way to find a parallel between Tao and trading. The author tells how Jazz is also like trading.

Please, stop writing books with the same "lists" of winning trader's personality, what you do when you are upset, right-brain, left brain features, and just update one title if you have anything new to say.

This is an excellent book. It almost reads like a poetry book for traders. It is not merely about the Tao...it unfolds and reveals ideas and insights like the Tao itself. This may sound somewhat strange but if you are interested in creativity and trading and its relationship to some of the great insights of the East the subject matter here will be found useful and worthwhile. Also, check out Mc Call and Steinhardt.

Koppel has once again achieved in this book what no other writer in the trading arena has been able to accomplish-a totally believable insiders view of "the way and power of trading".Every page offers truly remarkable insights.I believe this is the best book ever written about traders and trading.

Having read the books 'The Inner Game of Trading' and 'The Tao of Trading', it is obvious that there are significant overlappings. This does not change my opinion that Robert Koppel has identified the critical success factors of trading. Because market behaviour is unpredictable in many cases, his various recommendations make a lot of sense and may help to become an overall winner in a volatile environment. His book gives valuable insights into the psychology of trading, but is no substitute for fundamental market expertise.

This book was good in places and bad in a whole lot of places. Here are the pros and cons.

Pros:
-This book definitely had some parts in it where it introduced some pretty neat concepts that could have been really expanded on. The whole dying before death is a very applicable art to trading, and losing the ego can be discussed at length to help the trader achieve better results.

-Some of the quotes in this book were very applicable and thought out; I really enjoyed some of them and read some that I had never heard before.

Cons:
-This book is basically a rehash of other books written on the subject. The author is CONSTANTLY quoting other books, going so far as to actually have two whole pages devoted to market wizard's quotes. Using quotes in writing is great, adds credibility, gives other perspectives, but I literally felt like I wasn't reading HIS book, but other's.

-Basically you will not find much Taoism from the author in this book. He quotes the Tao Te Ching quite a bit, but I don't really think he understands what he is talking about. He also takes a lot of stuff from Zen Buddhism, which is NOT Taoism. They have many similarities, but the author does not take the time to really give the reader the sense that he understands the differences. He kind of just lumps all that "east" stuff into one category.

-The author repeats himself quite a bit, I don't know what the editor was really thinking after reading this book, but the copy paste buttons should not be used that liberally in any book. He repeats things in lists in different ways over and over again. What exactly is a winning attitude? Well it's the attitude you have when you are a winner of course. Way oversimplified, way too many nonsensical one liners, and if this guy has really been in the business for this long, I get the sense that he really didn't write this book (how can you be that experienced AND that ignorant).

-The author constantly contradicts himself, one of hand he will say that to be good in the market, you much be positive, have a winning attitude, etc, then will say that you must be a good loser. It's like he wrote half of the book, then had some two bit inspirational writer fill in the rest with your generic, useless feel good jargon.

-The author goes on for a good while about jazz....yes jazz... I don't know what he was thinking, but I guess telling me how certain types of jazz sounds in writing makes me a better trader. Why do I care that Jazz player X sounds like Z. Isn't writing about music totally defeat the purpose that you are trying to get across in the first place? I mean sure, reference jazz, go into it a bit, but page after page of "the smooth beat of Miles Davis, or the Strong beat of Armstrong..." doesn't do ANYTHING for me reading the book. Am I supposed to feel that improvisational nature of jazz now? I don't know...

-One of the worst things that this author did was use the classic "Leading professionals say..." or "Top traders I know think..." This just DESTROYS credibility. He can quote the whole world through his book, but cant give a citation here? How are we supposed to know "top traders" said that? Its 8th grade essay writing at its finest here.

To sum it up, don't buy this book, don't waste your money, I am not usually this negative, but this book is truly abysmal and if you enjoy it, you have a long way to go in your trading. If you are really looking for mysticism in trading try "the Psychology of Trading," it delves into meditation and the intuitive nature of trading, and the author knows what he's talking about.

Obviously some of the reviewers below "missed" what Robert Koppel is communicating in this book. That is understandable, as most traders never become successful anywhere near what is possible. Don't be deterred, this book has a huge amount of real insights about the nature of trading, and the necessary skills needed, the Tao simply is a way of explaining what it takes.

best book i've read on trading.Author puts it all together in a really cool way.This book really captures what trading is all about.

This book sets the standard for understanding the behaviors and actions of optimal performers -in trading or any highlly skilled intensely pressured activity.this is an immensel intelligent book.I highly recommend it.