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54 Reviews
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21 of 21 people found the following review helpful
5.0 out of 5 stars Highly practical, beyond FA and TA
I had read many trading books. However, this book helped lay the practical groundwork for my trading to this very day. Honestly speaking I had been a regular loser for my lukewarm knowledge (worse than ignorance) of TA, trend, trading psychology and things like that. This book really helps aspiring traders to better understand knowledge of trading science through layman...
Published on January 12, 2001 by ServantofGod

versus
23 of 29 people found the following review helpful
3.0 out of 5 stars Nothing special
I'm sure people will not find this review "helpful" , which is typical of the masses. They hear what they want to hear, then blank out everything else because it is threatening information. Shrug.
I am well aware of all the solid reviews on this book, so I keep thinking I've missed something in my reading. I gave the book 2 stars for content, 3 because it was...
Published on April 15, 2003


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21 of 21 people found the following review helpful
5.0 out of 5 stars Highly practical, beyond FA and TA, January 12, 2001
This review is from: Trader Vic: Methods of a Wall Street Master (Paperback)
I had read many trading books. However, this book helped lay the practical groundwork for my trading to this very day. Honestly speaking I had been a regular loser for my lukewarm knowledge (worse than ignorance) of TA, trend, trading psychology and things like that. This book really helps aspiring traders to better understand knowledge of trading science through layman terms. Vic had honestly deliver what headings of some chapters, namely promised: Business Philosophy for Consistent Success, Finding Order in Market Chaos, A true understanding of Trends, The Merits and Hazards of TA, etc. I strongly recommend the passage devoted to double bottom/top (2B) which warns traders to have a time perspective of using individual TA tools. In a word, a must read!
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36 of 39 people found the following review helpful
5.0 out of 5 stars Excellent, June 6, 2000
By A Customer
This review is from: Trader Vic: Methods of a Wall Street Master (Paperback)
How could this book ever be outdated? So he gives some examples of markets in the mid-90's, and talks about trading S&P futures back when they were 500 bucks a point and moved much less than they do now. SO WHAT. To get hung up on that is to blindly miss the big picture. It's like criticizing Shakespeare for being outdated.
What Sperandeo says about trading, discipline and risk management is a must read for all traders who hope to make it (and not just end up giving their money to professionals like Vic and me).
I have read more than 50 books on trading and this is in my top 5.
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21 of 23 people found the following review helpful
5.0 out of 5 stars A Must Read for any Student of the Market, October 29, 1997
By A Customer
This book has tons of practical advice. I have referred to it countless times when analyzing market conditions. My stock portfolio was entirely in cash two weeks prior to the massive selloff on October 27, 1997. The information in this book is directly responsible(the 2B criterion in particular). If I had even more experience with the author's methods, I probably would have been in cash in August when the correction began or possibly even initiated short positons. This book in conjunction with other informative volumes such as William O'neil's "How to Make Money in Stocks" and Nicolas Darvas' " How I Made Two Million in the Stock Market" provide incredible insights into the mechanics of Wall Street. Sperandeo's followup to this book, "Trader Vic-II" is also excellent. Read books by investors with PROVEN track records and you will greatly increase your odds of success in the markets. Thank you very much Mr. Sperandeo.
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15 of 16 people found the following review helpful
5.0 out of 5 stars Relevant, Practical Ideas -- a Must Read, November 1, 2002
By 
Gregg Killpack (Salt Lake City, UT) - See all my reviews
(REAL NAME)   
This review is from: Trader Vic: Methods of a Wall Street Master (Paperback)
I am an equities trader and I have read over 20,000 pages about investing in the stock market, fundamental and technical analysis, and many related topics. The ideas presented in Trader Vic's book are extremely practical and relevant and I've not seen many of the ideas expressed in it anywhere else. His ideas about weighing the odds of the future course of the markets based on historical, statistical measurements of time and how far the markets have moved are truly useful. The background he gives about economics made sense and are useful as well. I'd rate it in the top 5 books I've ever read about the markets.
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14 of 15 people found the following review helpful
5.0 out of 5 stars Consistency is the key, November 26, 2003
By 
david campbell (Kellevie, Tasmania Australia) - See all my reviews
This review is from: Trader Vic: Methods of a Wall Street Master (Paperback)
Victor Sperandeo says that if there were a Hall of Fame for trading he wouldn't be in it but he sees himself as a career pro who consistently performs at an elite level year after year. In fact consistent performance is his central theme, which he says requires not only a successful approach to trading but to life itself. He delves into this in the second part of the book that is dedicated to the psychological approach. Sperandeo says that he trained a group of traders but only a few were successful, and in searching for why he discovered the most important cause was false pride associated with the `idealised self'. I found this interesting in that paying a ton of money to be taught by any of the world's so called greatest traders isn't any guarantee of success!
His reasons for writing the book it seems is frustration with the image the world has of traders in which the unsung career pro goes unnoticed. Whatever his reasons are it is a privilege to gain an insight into the mind and methodology of a New Market Wizard.
His methods are a mixture of fundamental and technical analysis. He uses economics as a forecasting tool and says that cycle analysis actually just gets in the way. If you can understand the fundamentals of economics you can interpret government intervention in the market and profit from it.University taught economics is useless for this. All booms and busts are a result of credit expansion in an effort to lower interest rates, whereas Keynesian economics attempts to use interventionalist policy to smooth out the peaks and troughs but in fact is the predominant cause. Surplus production, savings and innovation create wealth as much for the individual as the economy on the whole. Wealth is actually consumed by government created prosperity via deficit spending. You can't get something for nothing. By understanding these cycles, you can speculate profitably.
Technical tools can then be used for timing entry. He demonstrates how trendlines can be drawn objectively to determine a change in trend using his 123 and 2B rules. A unique approach in this book is an approach to measuring risk by calculating market life expectancy profiles which he says has been instrumental to his success along with his business philosophy of protecting capital, consistent profitability and the pursuit of superior gains.
This book is as much a confession of the soul as a guide on trading methods, which I've found most of the best trading books are.
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11 of 12 people found the following review helpful
5.0 out of 5 stars Half Is Very Good, February 23, 2002
By 
Randy Given (Manchester, CT USA) - See all my reviews
This review is from: Trader Vic: Methods of a Wall Street Master (Paperback)
I was torn between 4 or 5 stars. Half the material rated 5 stars, but the other half was 4 stars or even 3 stars. The first 30% was part of what I was expecting -- psychology of the market and predictions. The last 20% was the other part of what I was expecting -- psychology of the trader. The rest is filler, but good filler, mostly geared towards beginners.
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7 of 7 people found the following review helpful
4.0 out of 5 stars Very practical about trading, September 3, 2001
This review is from: Trader Vic: Methods of a Wall Street Master (Paperback)
Some years ago an experienced trader introduced
me to this book. I read it and I learned many
things from it. The main topics in this book
include: Preservation of capital, consistent
profitability, technical analysis and trading
rules, etc. Trader Vic also talked about
macroeconomics and how it affects the stock
market.
One doesn't have to agree on everything trader
Vic said in his book. And I personally believe
that the writing style could be better. The
outstanding points in this book are Mr.
Sperandeo's great insights about trading and
his very practical real-world trading strategies.
This is a book every trader should read.
Rating: 4 ˝ Stars
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23 of 29 people found the following review helpful
3.0 out of 5 stars Nothing special, April 15, 2003
By A Customer
This review is from: Trader Vic: Methods of a Wall Street Master (Paperback)
I'm sure people will not find this review "helpful" , which is typical of the masses. They hear what they want to hear, then blank out everything else because it is threatening information. Shrug.
I am well aware of all the solid reviews on this book, so I keep thinking I've missed something in my reading. I gave the book 2 stars for content, 3 because it was [cost effective]. It is definitely well written by someone who has quite a track record in trading. The one chapter on Dow Theory, 2B, trendlines and trend reversals was the only one worth mentioning. The rest of the book is lengthy filler material. Some good, some bad, mostly "average".
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11 of 13 people found the following review helpful
5.0 out of 5 stars 2B or not 2B - it's easy as 1-2-3!, January 12, 2005
By 
G. Shkodra (Montreal, Canada) - See all my reviews
(REAL NAME)   
1-The trendline is broken; 2-The trend stops making higher highs or lower lows; 3-See if prices go above a previous high or below a previous low; 2B rule - a higher high or a lower low is made but fails to carry through.

In a 280 page book this is the only really valuable thing that caught my attention. These are two very powerful rules which if carefully and meticulously applied, the results in the long term will be very, very profitable. That's it. That's all. All there is to it. At least as far as the trading part is concerned. Sometimes it can be worth buying a book for a single very good idea it presents, and the rest of it may not really matter. These two rules were worth the price of this book, and maybe more. That's why I'm giving it five stars.

There are some other interesting concepts explained in the book, like the Dow Theory (why it works when it does and why it doesn't work when it doesn't), identifying a change of trends, the true meaning and definition of risk, capital preservation, consistent profitability and the pursuit of superior profits.

Much of the rest is filler, (at least for me, since I mainly bought this book for the trading part), especially the part where mister Sperandeo attacks the (detrimental?) role of a government in a capitalist country (although he states that capitalism ceased to exist in the US in 1913 with the adoption of the 16th Amendment and the formation of central banking!!!), Marx and Keynes philosophic and economic theories, the moral code of altruism, etc.

Anyway, if you buy this book is because you want to become a better investor or trader, and as such, it deserves 5 stars.
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16 of 20 people found the following review helpful
3.0 out of 5 stars Could have been better., September 15, 2006
By 
a reader (Fairfax, VA United States) - See all my reviews
Verified Purchase(What's this?)
This review is from: Trader Vic: Methods of a Wall Street Master (Paperback)
I bought this book based on all the positive reviews. But after reading half of it, I left dissapointed. Although there were some helpful stuff, I felt that Vic rambled too much and had difficulty staying on course. This is one of those books that you can't judge by the title, because a good portion of the content has little to do with "mastering Wall Street". At times I kept wondering whether I was reading an economics textbook. He has an entire chapter devoted to Austrian ideology, business and federal reserve history, and credit theory. Some of the chapters that sounded interesting, Conquering False Pride, ended up being extremely dry and torture to read.

If you are really interested in learning to trade, I'd recommend you read Marcel Link's book: High Probability Trading instead.
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Trader Vic: Methods of a Wall Street Master
Trader Vic: Methods of a Wall Street Master by Victor Sperandeo (Paperback - August 12, 1993)
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