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Trading from Your Gut: How to Use Right Brain Instinct & Left Brain Smarts to Become a Master Trader Hardcover – December 12, 2009


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Trading from Your Gut: How to Use Right Brain Instinct & Left Brain Smarts to Become a Master Trader + Way of the Turtle: The Secret Methods that Turned Ordinary People into Legendary Traders + Market Wizards, Updated: Interviews With Top Traders
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Product Details

  • Hardcover: 224 pages
  • Publisher: FT Press; 1 edition (December 12, 2009)
  • Language: English
  • ISBN-10: 0137047681
  • ISBN-13: 978-0137047680
  • Product Dimensions: 0.8 x 6.7 x 9.1 inches
  • Shipping Weight: 14.4 ounces (View shipping rates and policies)
  • Average Customer Review: 3.7 out of 5 stars  See all reviews (63 customer reviews)
  • Amazon Best Sellers Rank: #793,106 in Books (See Top 100 in Books)

Editorial Reviews

About the Author

Curtis Faith is author of the bestselling book Way of the Turtle, which has sold 70,000 copies and has been translated into nine languages. In his early 20s, Faith earned more than $30 million as a member of the legendary Chicago trading group, the Turtles, a renowned group that started as a bet between founders Richard Dennis and William Eckhardt.

 

Drawing from his unique experience as an original Turtle and as a successful entrepreneur–having founded several software and high-tech startups–Faith has developed a “whole mind” approach that gives traders at all skill levels the tools to become master traders. Combining insights on trading psychology, managing risk, and trading methods, Faith delivers a method that is as much art as it is science and gives traders the tools to use all of the weapons at their disposal...namely, instinct and analysis. His most recent book is Inside the Mind of the Turtles.

 


More About the Author

Curtis Faith is author of the bestselling book Way of the Turtle, which has sold 70,000 copies and has been translated into nine languages. In his early twenties, Faith earned more than $30 million as a member of the legendary Chicago trading group, the Turtles. He founded several software and high-tech startups, including a public company and an Inc. 500 firm, and is also the author of Inside the Mind of the Turtles and Trading From Your Gut.

Customer Reviews

As trading books go, it's very reasonably priced and I recommend it highly to anyone who is an active trader.
Bron
The author's premise about trusting your gut instincts when executing trades really doesn't translate into a useful theory or trading method in my opinion, however.
monkuboy
It can help you react faster, making a little more when you are right and losing a little less when you are wrong.
Aaron C. Brown

Most Helpful Customer Reviews

24 of 28 people found the following review helpful By John Forman on March 4, 2010
Format: Hardcover Vine Customer Review of Free Product ( What's this? )
In this book, former Turtle Curtis Faith takes a different approach from the trading systems orientation of his earlier Way of the Turtle. It's one that would seem to contradict his earlier focus on systems. After all, instinct and gut feel would seem to be the complete opposite of system trading. It's not really that simple, though.

At the core, Trading from Your Gut is about integrating the right-brain instincts and intuition you develop as a trader with the left-brain rational side from which systematic analysis and trading tends to flow. Faith spends a fair amount of time arguing for why that is important. In fact, the better part of the book could be said to fall into that area. The idea is that combining the two parts of your brain will make for much better results than either one on its own.

Now, having said that, Faith considers the swing trading timeframe the most optimal for trading with both sides of your brain. Real short-term trading, he contends, favors a more intuitive approach, while the timescales of long-term trade suit a more left-brain approach because there's plenty of time to think things through rationally. It's worth noting that an awful lot of traders seem to want to go the other way, make gut calls on long-term trades, but use mechanical systems for short-term trading.

If you're looking for short-cuts to develop intuition, though, you're out of luck. Faith tells you what you should already know - that you can only really do that by trading. That said, he does provide some tips for making the process more efficient and effective. There is, of course, a lot of trading psychology discussion in the book, which given the subject matter shouldn't come as a surprise. In fact, Van Tharp wrote the foreword.
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23 of 27 people found the following review helpful By Happy Camper VINE VOICE on February 14, 2010
Format: Hardcover Vine Customer Review of Free Product ( What's this? )
First what this book is not: Not a "how to" book on stock trading. Not a primer for beginning investors. Not a treatise on any particular trading style. Therefore, "Trading from Your Gut" is not by itself a sufficient source of training for becoming a stock trader. But these "nots" are what make Mr. Faith's book unique and valuable - there is no other book that provides the same very valuable perspective.

His basis thesis - it's right there in the subtitle - is that a stock trader needs to use both his analytical and his intuitive abilities. He emphasizes that with practice the human mind can recognize general patterns in graphs and data that are very difficult for a computer to discern. The ability to immediately "see" that a stock is bouncing off of a support line or that it is "rolling over" may be a very reliable indicator that it is time to buy or to sell, and it often can be obvious with little more than a glance. For a busy trader in a fast-moving market, this special ability of the "right brain" is invaluable.

So, if your are a serious stock trader, the value of the book is in supplementing whatever traiding methods you may be using. It will give you confidence to trust your visual impressions and gut instincts even when you may not have the analytical backup for your decision, and especially when the analytics and intuition line up.

The author is a good storyteller and offers illustrations from a wide varitey of fields. His depth of personal experience and history of successful trading lends credibility to his ideas. I recommend this book as a very worthy addition to any stock trader's collection. It brings into focus what all us traders have sensed - that sometimes we just seem to know what to do without pulling out the calculator. Mr. Faith explains that this is not mysticism, but just another output of an experienced stock trading brain.
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27 of 34 people found the following review helpful By ForexHitman on September 11, 2010
Format: Hardcover
I am a currency trader and have a read a decent amount of trading books covering technical analysis, fundamental analysis, and market/trading psychology. This was a tough one to finish. Trading the way Faith suggests in this book is a foolish venture. The content is riddled with holes and the psychology behind what he is saying will not help you be a better trader. I do agree that any person experienced in their field has a certain intuition that runs in the background of their thinking, but this intuition is based on years of study of actual principles tested in real life situations. It's not based on guessing or a "feeling" as that sort of approach is detrimental to trading.

Trading is a skill, and a difficult skill to master. The odds are stacked against you, maybe more than any other professional field. The last thing you want to be doing is making "gut" decisions. A recent best selling book by Malcolm Gladwell, titled Blink, deals with these same concepts you find in Faith's book, and while Gladwell's book is entertaining to read it is not something you should apply to trading. The element of risk that exists in trading is often what lures us into the fight. In the middle of that fight the uncertainty that looms has to be distilled and managed in order to make a decision. The only way to do this is by applying a set of time tested methods coupled with much practice.

A friend of mine recently put a big chunk of money with a forex trader. After 2 trades that resulted in a 50% draw on the account capital he asked the account manager what the heck he was doing putting so much of the capital at risk, and when he questioned the manager about a current losing trade he was in the guy's response was "don't worry, it will turn around.
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