Book Description
“We're going to raise traders just like they raise turtles in Singapore.”
So trading guru Richard Dennis reportedly said to his long-time friend William Eckhardt nearly 25 years ago. What started as a bet about whether great traders were born or made became a legendary trading experiment that, until now, has never been told in its entirety.
Way of the Turtle reveals, for the first time, the reasons for the success of the secretive trading system used by the group known as the “Turtles.” Top-earning Turtle Curtis Faith lays bare the entire experiment, explaining how it was possible for Dennis and Eckhardt to recruit 23 ordinary people from all walks of life and train them to be extraordinary traders in just two weeks.
Only nineteen years old at the time-the youngest Turtle by far-Faith traded the largest account, making more than $30 million in just over four years. He takes you behind the scenes of the Turtle selection process and behind closed doors where the Turtles learned the lucrative trading strategies that enabled them to earn an average return of over 80 percent per year and profits of more than $100 million. You'll discover
- How the Turtles made money-the principles that guided their trading and the step-by-step methods they followed
- Why, even though they used the same approach, some Turtles were more successful than others
- How to look beyond the rules as the Turtles implemented them to find core strategies that work for any tradable market
- How to apply the Turtle Way to your own trades-and in your own life
- Ways to diversify your trading and limit your exposure to risk
Offering his unique perspective on the experience, Faith explains why the Turtle Way works in modern markets, and shares hard-earned wisdom on taking risks, choosing your own path, and learning from your mistakes.
Customer Reviews:
Intriguing look inside the head of a million-dollar trader.......2007-10-22
This trading-room memoir harks back to a group of novices whom experts recruited in the 1980s and - to fulfill a bet - trained to be traders. The training worked, according to the most successful student, author Curtis M. Faith. His memoir promises what any capitalist would love to possess: the secret to making money in volatile markets. Alas, Faith tells us, there is no secret. Successful traders analyze markets to find an edge, then remain disciplined enough to pursue that edge, even when their hearts and their guts try to overrule their brains. In spite of constant references to Donchian channels and Sharpe ratios, Faith assures readers that trading isn't a matter of using secret formulas but of applying time-tested wisdom. His tome is intriguing because it lets you inside the thoughts of someone who made $30 million as a trader (so no wonder he tends toward the self-congratulatory, though his anecdotes are entertaining). We recommend this to traders seeking an advantage and to those who want to watch the experts try to beat the odds.
Shell Game.......2007-10-01
The reviews would have you believe that this book is a great tutorial on trading. It's not. Instead, I found it to be jargon filled, difficult to understand, and internally inconsistent. Save your money.
Below the Moving Average of Expectations.......2007-09-01
I rarely like to trade against the market, but if the reviews on this board are the market, then I'm short. Like most of the reviews here, I was lured into buying this book primarily by the mystic surrounding the Turtles. Now, as far as my curiosity about how that 1980s bet began and played out, I was not disappointed. Faith spars no ink on letting the reader into how the Turtles were formed and what is was like trading within the group. What was missing, I thought, was anything approaching the hype. Faith gives short srift to some of the actual trades made, instead choosing to focus on general requirements that might have not been common then, but are standard practice for today's active commodities trader. Perhaps that statement is proof of just how successful the bet was. If so, praise be to the Turtles -- but this doesn't make the book worth the time or the money.
Interesting and Informative.......2007-08-31
Easy to read and captivating for those interested in the trading "lore." Also provides simplistic insight into systematic trading - not bad for those just getting into the game.
A real turtle speaks.......2007-08-22
This book is the real deal. No hype or BS. Very refreshing to finally see the real turtle rules explained in context by someone who lived them. You read the exact rules the turtles used AND why they had those rules. In a market full of books by posers this book shines.
This book has what all the other trend following books don't: A deep understanding of trading as a game of risk and clear thinking. The most valuable and enjoyable features of this excellent book is the clarity of the ideas expressed. This is only possible from someone who deeply understands them. Reading this book was a pleasure (except for the self involved foreword by Van Tharp).
Book Description
Over 30,000 online investors daily flock to pristine.com, the top-rated Website run by day trading legends Oliver Velez and Greg Capra, for up-to-the-minute strategies and market commentaries. In Tools and Tactics for the Master Day Trader, Velez and Capra revisit and completely update over 100 of their daily commentaries from the past four years, with new material explaining what worked, what didn't, and why.
This no-nonsense, easy read, meant to be referenced by traders every trading day, covers everything from potent trading strategies to intuitive insights on psychology and discipline. Proving once again that the best teacher is experience, Tools and Tactics for the Master Day Trader will help any trader log on with the technical skills, market knowledge, and confidence they need to capture more winning trades, and reap new profits.
Customer Reviews:
THE best book on trading I have ever read........2007-09-09
I had to get this book after reading such a mix of reviews. I was really curious how it would turn out since reviewers were either raving about it or trashing it.
After reading the 1st half of this book I was shocked to say the least. The first half of this book is worth more than all of the books I have read on trading combined. If someone trashes this book then they are either very new to trading and don't understand the points being made in this book(which I can understand because you have to get some experience under your belt to really appreciate what is being said in this book) or they are looking for a quick strategy they can read in 5 minutes and start making money. For one thing, that's never going to happen anyway.
The trading strategies in this book are very basic, so for newbies that part of the book has some good info. I was hoping for a little more advanced analysis of trading techniques, but I really didn't need that anyway. The knowledge and wisdom in the first half of this book is going to take my trading to moon.
For the newbies who didn't like this book, get a couple years experience under your belts then go back to this book and re-read the 1st half. I guarantee you, you will want to come back here and write a positive review.
Interesting book with lack in details by very self-confident authors.......2007-06-09
When I started reading the book by Oliver Velez and Greg Capra: "Tools and Tactics for the Master Day Trader", I thought it was one of the better books on day trading. It starts out with the importance of discipline, and the lessons to be learnt from losses. It also outlines the concept that you don't buy from the market, but there is always another person on the other side of the trade that has exactly the opposite market expectation as you.
Then come four chapters with lists of rules: 7 deadly sins, 12 trading laws of success, 15 things every trader should know, and 10 lessons for the master trader. Altogether 44 rules, which don't seem to be in any systematic order. It looks like the authors were brainstorming to come up with as many rules as they could think of, and then divided them up among the four chapters. Some rules contradict one another, some important rules are next to irrelevant ones etc. Also the "Seed of Wisdom" does not help to sum up the rules because it often is not related to the part that it is supposed to summarize.
In Chapter 10 and 11 the authors talk about tools and start out by explaining things as basic as a candle stick or support and resistance. Then they dedicate two chapters to Order Systems and Level II data, and it takes until page 293 when they finally talk about trading techniques.
After having talked redundantly about general things for three quarters of the book, the authors give their ideas of entry, stop and exit techniques. What I missed most in this part is the lack of exact trading rules. Everything is expressed vaguely (e.g. p.219 "you can also opt to keep the break-even stop. This is a matter of choice." or p.322 "Sell at least half your stock if and when the stock breaks below the 5-minute low. ... These are just guidelines. We don't want to be stupid. ... Many traders will be best served selling the whole lot at this point."). This is exactly the vagueness you can't afford as a day trader. I was also disappointed that there was so little variety in the trade setups (just three entry techniques).
So my hope was high that in chapter 17 "How to put it all together" there would finally be concrete entry and exit descriptions. Instead, the authors just describe common chart formations like any other book on technical analysis (and do a worse job, too).
Throughout the book I noted an arrogant tone (p. 317: "Let's assume a master trader, let's call him Mr. Velez."). The authors speak about master traders, as if they were some kind of rock stars. No matter, how successful you are, if you quit being humble, the market can easily take everything away from you.
I am giving the book three stars because it does cover important topics for day traders like discipline, and learning from your mistakes. If you want to read a more effective book, however, I recommend the one by John F. Carter "Mastering the Trade".
Seeds of Wisdom !.......2007-05-18
Tools and Tactics for the Master DayTrader: Battle-Tested Techniques for Day, Swing, and Position Traders.
Velez and Capra give me the impression they have traded before and are not just book writer's. You can learn a few pointer's from this book whether you are just learning or have been trading a while. It covers Candlesticks,Moving Averages, Fibs, Volume and drawing a few trendlines on the charts intraday and daily charts.
It does not go into some of the mathematical lagging stock indicators that some trader's think it might be the "Holy Grail". Those lagging indicators act like delayed instrument gages on your dashboard. Sorry, there is no Holy Grail on WallStreet predicting the future for you... better look elsewhere like yourself. The only "Holy Grail" you will ever find trading stocks is yourself there is no quick fixes to learn to trade stocks it all takes lots of time and practice.
Its to look and observe what a chart's history or footprints tell you with some seeds of wisdom.
I see so many negative reviews here about this books. I am starting to wonder whether those reader's have ever traded stocks or are just rookie trader's learning from their mistakes the first 2 years.
I have traded full-time for years and I can tell you they must be all rookie trader's hoping that a book might have all the answer's for them and their future. It would help them if they read this book a few times until it really sinks in their minds.
This book is a concise,no nonsense approach and covers everything traders need to win consistently.
As a prior reviewer mentioned which I agree...
"The key buy setup, alone is worth many times the price of the book."
Nothing new.......2007-04-18
nothing new, nothing exciting. Everything can be found in books that are half the price. Save your money.
FIVE STARS!!!.......2007-02-27
I would definitely give this book five stars. I really learned alot from it. If you gave it a bad review you either need to go back and read the book again or just skimmed through the book.
and to the person who sid that he "Heard" that they don't actually trade they are wrong and I thought everyone knew not always to believe what they hear. But hey, some people just believe things more easily than others.
and you can't even RATE this book one star because YOU HAVEN'T ACTUALLY READ IT!!!
You skimmed through the book and rate it one star??? WOW. that's all I have to say: wow. I'm not even going to say anything else. and people don't listen to all of those bad revievs out there. It really was a great book and is worth the money. (and so is his newer book)
and to the person who said: "This book TOTALLY rocked. I read it alot because it was so awesome"
YOU TOTTALY ROCK TOO! LOL!
Book Description
Expert tactics to become make the most of every swing trade
In Mastering the Trade, veteran trader and educator John Carter shares his hard-won five-point technique for successful swing trading. In addition, Carter helps you move to the next level of confidence by explaining how markets really work and detailing behind-the-scenes market mechanics.
Customer Reviews:
Too many incongruences.......2007-10-08
I have just bought this book. Went to Chapter 8 and study it deeply. I challenge anyone to understand the strategy explained as there are many incongruence between what explained and the example charts. How can a trading book be confusing?
Do not trust my opinion? I challenge anyone to find chapter eight congruent. I challenge anyone.
Suggestion: do not buy this book.
Excellent.......2007-09-30
Well rounded book on trading for people to gain an overview of all markets. The best ones like this are by those who actually trade.
This is one of the first I read as a beginner, where some of the things were over my head but still held a lot of interest. Re-reading it now brings out the full benefit. Great book.
Anyone knocking this book does not trade daily........2007-09-27
When I first heard the reviews of John Carter's Book ,I was a bit confused. Some people said the book was great, some said it sucks. Then I bought the book and read it. This book is a very good look at trading from top to bottom and in the middle. The people that are dogging this book must not trade at all period. These are very simple and easy strategies to follow with examples to support. PLEASE BACKTEST and USE TIGHTER STOPS, because the guy is either filthy rich or got balls of steel....I am sure Carter did not put a lot of his losers in the book but he did put some. I find it sad that people dog this guy so much. Yeah, he is greedy..very greedy, but his products are what they are, GOOD. My only complaint is his DVD's are 2400.00 and his open software indicators are copied from the Tradestation library and are 1600.00. ALL in all he has a great book and a good website with a free trial that is only 14 bucks. He has some excel downloads worth that alone. Buy this book if you want to day trade or get a better perspective of other succesful traders. You will learn a lot. Try to buy his other products 2nd hand they are too HIGH. If the guy's products wasn't so high he would be a lot more popular and respected. He has been called a snake oil salesman. He is not that,he is just a greedy salesman and a helluva trader... Great Book on trading!!!!!!!!!
Great Read.......2007-09-08
I really enjoyed this book and would recommend it!! It covers all aspects of trading not just strategies and setups e.g. trading tools, trading mindset etc....lots of great information on futures, equities, options and forex.
A great trader's course.......2007-08-10
This book is a great trader's course. The author tells you everything you need to know, from selecting computer hardware (this info might be a bit dated), to risk management, financial psychology, discipline needed to trade all markets. There are about 10 chapters with setups where the author shows you the entry, exit points and stop loss points and gives about 4 or 5 examples of how he successfully traded each of the setups he is showing you. My only complaint is that the author only shows 3 or 4 failures in the whole book. This might lead a person to be overconfident and think that trading is so easy a caveman can do it. :)
If the author has a dozen setups that can work in any market, and he can trade 24/7 on the global markets, forex, etc. and he applies the risk and money management techniques in his book and he only has a 6% failure rate, he should be a multi-billionaire by now.
Overall, a very good book, but the author makes trading seem a lot easier than it really is. In real life trading, unlike the book, you won't have only 3 failures for every 50 successes.
Book Description
Inside the House of Money lifts the veil on the typically opaque world of hedge funds, offering a rare glimpse at how today's highest paid money managers approach their craft. Author Steven Drobny demystifies how these star traders make billions for well-heeled investors, revealing their theories, strategies and approaches to markets. Drobny, cofounder of Drobny Global Advisors, an international macroeconomic research and advisory firm, has tapped into his network and beyond in order assemble this collection of thirteen interviews with the industry's best minds. Along the way, you'll get an inside look at firsthand trading experiences through some of the major world financial crises of the last few decades. Whether Russian bonds, Pakistani stocks, Southeast Asian currencies or stakes in African brewing companies, no market or instrument is out of bounds for these elite global macro hedge fund managers. Highly accessible and filled with in-depth expert opinion, Inside the House of Money is a must-read for financial professionals and anyone else interested in understanding the complexities at stake in world financial markets.
"The ruminations of supposedly hush-hush hedge fund operators are richly illuminating." --New York Times
Customer Reviews:
Insightful visit to the world of the global macro investor........2007-09-28
This fascinating book will take you into the world of current global macro investing. Steven Drobny interviews 13 successful traders, analysts and fund managers who participate in global macro investing in many different ways. Although some of the discussions are technical (but never mathematical), they are readable and easy to understand. Drobny also provides some information on the origins and early years of global macroeconomic investing, from John Keynes to George Soros. He talks to his interviewees about their backgrounds and asks their investment advice. His question-and-answer approach keeps things moving. We enjoyed Drobny's descriptions of the people he interviewed, though the interview-style format leads to somewhat choppy data. This book is surprisingly fun for what could have become a very dense, technical tome in less skilled hands.
Find out what the experts think about investing in the global marketplace .......2007-09-17
This is a terrific book about how 13 investors use global macroeconomics in their work. The shorthand term is global macro. Since the field is pretty much undefined and can include investments of any time anywhere in the world, it is hard to define what exactly it is. In fact, the book isn't about Steven Drobny telling you about what he thinks it is. Instead, the chapters are question and answers with each of these practitioners of this technique.
The first few chapters offer some context and history of global macro investing. The earliest people doing it were probably John Maynard Keynes and Alfred Winlow Jones. Drobny takes us through the key macroeconomic crises of the past several decades and offers a few thoughts about the future.
The people he interviews are Jim Leitner of Falcon Management, Siva-Jothy of SemperMacro, the author's partner, but no relation - Andres Droby, Dr. John Proter of Barclays Capital, Dr. Sushil Wadhwani of Wadhwani Asset Management, Peter Thiel of Clarium Capital, Yra Harris of Praxis Trading, Jim Rogers, Dwight Anderson of Ospraie Management, Scott Bessent Capital, Mark Dimitrijevic of Everest Capital, Rob Standing of London Diversified Fund Management, and an anonymous currency specialist.
All of these folks look for people who are motivated, and have a passion and talent for math, economics, history, and have a demonstrated aptitude for training. You will notice that many have doctorates, but not all. Some learned the trade by trading, all were captivated by the process soon after they first came in contact with it.
I found the range of investments and their thoughts about the global economy fascinating. This is a very interesting book, especially so if you are interested in markets and trading. Their generally gloomy view of the future of the American economy is quite disturbing, though.
Reviewed by Craig Matteson, Ann Arbor, MI.
A Rare Opportunity that Leaves One Wanting More.......2007-08-21
I love to have extended conversations with experts. I feed off their enthusiasm and expertise. These conversations are even more exciting to me, when the person with whom I am speaking is an expert in a field I love.
With only one lowly exception, Steven Drobny has written a winner for me. By interviewing as assembling the edited transcripts of his conversations in his book, Inside the House of Money, Drobny opened a gateway into the thinking and experiences of 13 successful Global Macro investors.
Although many have the reputations as being secretive and reluctant to discuss their market approaches, the author gives the reader a glimpse of the thinking that goes into placing a multi-million trade on currencies, economies and securities.
Drobny is uniquely qualified to do these interviews. As a partner in an international macroeconomic research and advisory firm, he brings a seasoned professional's insight to the interviews. Key historical events that shaped the experiences of these traders are explored. Nuances of the current crowded markets are discussed intelligently. As a result, the reader gains precious insights into the subtleties of running a Global Macro Hedge Fund.
There is only one problem with the book. I found myself wanting more from the interviewees. Drobny gave me access to people with whom I would never have the opportunity to speak. What I read was great, but I wanted more. But then again, I trade like that.
Excellent book.......2007-08-20
I found very interesting and rich of insights.
It's very useful in understanding hedge fund manager's approach to the markets.
Decent overview of global macro traders.......2007-08-15
The book kept my interest and was very informative. Some of the interviews were excellent. I say some, because those that trade closer to my style are obviously more interesting for me. but theres plenty here for everyone.
I liked the interviews of so many different styles because it just proves my personal theory that anyone can make money. Every trader in the book trades differently and they still all make money.
I also like the comments from many of these traders that said that we were heading for a sub-prime meltdown and that the banks would be having problems. This was written more than a year ago, and thats exactly whats happening today. Dow is now down 8.6% off the high it made last month. The volatility is crazy. And these guys predicted it long ago. Lots of good insight from their interviews.
Book Description
Chart Your Way to Profits shows you how to harness the technology available on www.prophet.com to analyze markets and make informed trading decisions. It discusses the fundamentals of technical analysis and shows you how to design your own charts and indicators in a way that enables you to easily monitor the markets and make solid trading decisions.
Customer Reviews:
Technical Analysis 101.......2007-09-01
In "Chart Your Way To Profits", Tim Knight takes the intricacies of Edwards & Magee technical analysis, and updates it in a conversational, user-freindly format. Hundreds of real-life chart examples are utilized, as are trading tips from a veteran individual trader. This is a book where new insights can be gleaned with multiple readings, and one you will want to keep by your computer for constant reference while analyzing stock charts, and during trading hours.
You don't have to use Prophet Charts to get great value from this book, but if you do, the book doubles as the best 400+ page user's manual you could ever ask for. And for those who don't know, the Prophet charting platform is available with certain online brokers without having to pay for it.
Definitely five stars, and highly recommended for any level trader.
Good book but too much "How to use Prophet Software"........2007-08-29
I agree, with last reviewer how to use the Prophet Software within the pages of the book. The author should have placed all the Prophet advertising, subscriber to the author's charting website,how to use the software toward the back section of the book. I never use Prophet software since there are many other professional charting software out there that does even a better job than just using website charts.
This book has some good easy to follow information on charting that can be useful and is quite simple to understand.
A better book to purchase is "Technical Analysis of Stock Trends" by Robert D. Edwards and John Magee ,since this is the best book on charting and charting patterns which was originally published back in 1948. This is like the bible of Technical Analysis. I prefer the 5th Edition and you may be able to get it used on amazon.
Dedicated too much to Prophet, but a good value, nonetheless.......2007-08-27
This book is written primarily for use with the author's charting software (Prophet) and spends quite a bit of time highlighting it's features. When he starts to explain the chart patterns and the reasons the market created that pattern, you could be using any software. This is where the book shines.
Roughly 1/3 of the book explains Prophet Charts. Basically a manual. That part should be available online to users of the software.
Once you get past the manual, and the chart analysis begins, there is a lot of value. Tim explains chart patterns in a simple, (relatively) jargon free manner. Every topic has several examples to make it very clear. He also explains the reason the pattern came into existence in the first place, adding even more clarity to the topic. I found this part to be very useful.
I feel this book is suited to anyone who uses Prophet Charts, but that info should have been included with the software. Paying for the manual irked me a bit. I did find value in the charts, and assuaged my irritation with my increased knowledge and comfort with technical analysis. Definitely worth it, just be aware.
Chart Your Way to Profits.......2007-08-26
I bought this book in order to learn how to use the Prophet Charting Tools. The book provided an excellent and clear summary for this purpose.
Aside from this application, Knight's explanations provide very useful background for understanding how to exploit the bear side of the market, which tends to be favored by Knight. If you are uncomfortable in investing on the short side but want to learn more, this is a good place to begin.
When's the Next Book.......2007-08-26
Great and easy reading. This ones a keeper and a reread for my library
Book Description
Through his own trading experiences and those of individuals he has mentored, Dr. Brett Steenbarger is familiar with the challenges that traders face and the performance and psychological strategies that can meet those challenges. In Enhancing Trader Performance, Steenbarger shows you how to transform talent into trading skill through a structured process of expertise development and reveals how this approach can help you achieve market mastery.
Customer Reviews:
Entertaining but long winded.......2007-09-28
If you read the bullet points above, you have a good idea of what this book covers. Note that you must take these bullets LITERALLY! Where it says discusses, explores, and introduces ... don't expect anything more.
My grouse with this tome is that I have almost finished it and still have not learned how to coach myself "with practical cognitive and behavioral techniques that rapidly change problem patterns and build new, positive ways of thinking and behaving".
If time is money, then the value of this book goes down because it is unnecessarily long winded. As such I can only give this 3 stars.
Enhancing Trader Performance.......2007-08-09
This is the best trading book I have ever read and I am not at my first book on trading. Brett Steenbarger really touch what makes an expert trader. Recommended for every trader that want to get better and eventually become an expert trader.
Great stuff
For professional trading trainers and trainees.......2007-07-30
I gave a high rating to the author's first book "Psychology of Trading" with a review title "Well researched and written, but not for the mass" in that it suits perfectly those with medium or above knowledge of psychology. It's hardly a coincidence, that the second book of the author is also targeted at the professionals, or, to be specific, professional traders who can enjoy systemized training/mentoring offered by their institutions. For traders like me who dont have such priviledges, nearly half of it became quite irrelevant and remote. Definitely worth a read, especially the part elaborating the linkage between practice and expertise, but not as useful nor insightful as fans of his first book might expect.
p.s. Below please find some of my favorite passages for your reference.
Competence precedes confidence: Winning mindsets result from mastery, not the reverse pg 4
When you have found your niche, you dont need discipline to do the right things; you wont want to do anything else. pg 29
Markets, like people, have their personalities; our relationships with markets will profit to the extent that there is compatibility. pg 35
Evolution occurs when we are so taxed that we must make fresh adaptive efforts. The expert is one who continually adapts to extraordinary performance demands. pg 119
How to trade and what to trade are subordinate to when to trade. pg151
Amateur traders turn into professional traders once they stop looking for the next great technical indicator and start controlling their risk on each trade. - John Carter pg 156
great book.......2007-06-05
all of the above positive reviews are applicable.
You can not start day/swing/option trading without understanding yourself, fear and greed.
Dr Brett will move you into action to become move familiar with yourself
Un Tour de Force.......2007-05-29
Once in a while a book will appear which identifies problems so precisely that the reader begins to take ever-increasing delight at the insights afforded. The first reading, but certainly not the last, will conclude with such laudatory comments as, outstanding, empowering, top 10 or even top 5, and a must-read.
Such a book is Brett Steenbarger's "Enhancing Trader Performance". It carries my highest recommendation and since I'm not unknown in trading circles this may carry some weight. It should be read by anyone contemplating trading for a living and by all those short-term traders presently dissatisfied with their performance.
Dr. Brett's book cannot fail to benefit those in other disciplines that are performance related, such as golf, chess, wrestling, baseball or as a member of a NASCAR pit crew. The interdisciplinary approach is discussed in some detail and to everyone's advantage. It is a remarkable book with numerous outstanding insights, so that rather than attempt an overview, I will offer a single injunction, BUY IT.
Book Description
The Thoroughly Updated Guide to Reducing Tax Liability for the Trader and Serious Investor
What would you do to increase your trading profits by as much as 50%? Most traders and investors would do whatever it takes. Those same traders will much to often what the profits earned with their blood, sweat and tears shrink considerable as they prepare their tax returns. You have in your hands the easy-to-use tools that will protect your hard earned assets. Packed with proven strategies that reduce your tax exposure this comprehensive guide is completely updated with information and strategies for the most recent tax changes.
Here are invaluable business, estate, retirement planning, and tax-saving strategies that virtually anyone can implement within the new tax laws. It is simple to use and includes specific information to help traders reduce their tax liability, with individual case studies, real-world examples, and model tax returns. CPA and expert tax consultant Ted Tesser provides current solutions for the tax problems facing most U.S. traders, investors, and income earners today—excessive tax payments to federal and local governments, insufficient preparation for retirement, and, ultimately, the fate of bequests. In this book, Tesser shows everyone concerned:
-How to disinherit the federal government
-How Trader Status is upheld, even under audit
-How to augment underfunded retirement plans
-How to master the basiscs of estate tax planning
-How to integrate the "triple crown"—Tesser's latest strategy for tax avoidance and wealth accumulation—into your trading plan
…and much more.
Keep the profits you work so hard to earn, whether from trading, investing, or hard work—and take control of your financial destiny. The NEW Trader's Tax Solution has puts years of experience at your fingertips.
With the "triple crown," you will learn how to unleash the full power of Trader Status by combining it with a Trading Entity. You will also learn how to establish a Wlfare Benefit Trust to accomplish all these goals and more. This program enables you to take advantage of little known facets fot he tax law that have been on the books for almost three-quarters of a century. You'll learn how to:
-Contribute and deduct substantial amounts of money over any period of time
-Grow the principle in a fully tax-defered, 100% secure environment
-Access the money at a future date, not limited by age, income, or retirement plan status
-Avoid the restrictions of ordinary retirement plans by using the same techniques that have been used by America's largest corporations since 1928
Whether you are looking for last minute tax saving tips or trading techniques that position you for the optimal tax reduction, The NEW Trader's Tax Solution is a must-have addition to any trading library. Get the government to pick up the tab on this years trading profits, foot the bill for any trading losses, and increase your wealth by 50%, instantly. After putting Trader Status on the map, Tesser now takes it to another dimension, complete with real world case studies, illustrations, templates, and filled-out, ready to be filed tax forms.
Ted Tesser, CPA, is a partner with Tesser, Horowitz, and Ullmann, Inc. 1-800-556-9829, a firm serving clients around the world. He specializes in investment taxation, is an active trader, and is the author of Trader's Tax Survival Guide and the best-selling video Cut your Trading Taxes in Half!
Customer Reviews:
Misleading book from an "expert" who cheats people.......2007-07-29
I didn't like this book because it rehashes a lot of the same stuff in his first book, thus the materials is not very "new". "Ted Tesser's New Book" is a case of the Emperor's New Clothes. The author runs a supposedly reputable business in Florida trying to "save traders money". I followed the tax advice in the book on setting up corporate entities and ended up caught between a rock and a hard place, because the book did not include critically important details (perhaps intentionally?). When I needed more specific details, the authors' company tried to force me to pay $350/hour charged to a credit immediately over the phone for advice if my CPA was standing there to help me make sense of it all. The phone call was already costing me $100/hour. At that point I knew I was dealing with a sheister. I would not recommend this book or getting involved with the Waterside Financial to anyone. The New Trader's Tax Solution: Money-Saving Strategies for the Serious Investor, 2nd Edition, Updated
Good beginner book.......2005-08-13
The book is really good. The reason why I gave it only 3 stars is that it doesn't cover the complex stuff I am looking for. And it mostly target to small trader. This book will do you little good if you able to make over million dollars a year from the market. The book does not mention much about asset protection. As with any trader, the only asset is their cash, and I believe the author should put more work into this section if a new version is on the way.
Book Description
Praise for FOREX CONQUERED
"In this amazing book, John covers it all. From trading systems to money management to emotions, he explains easily how to pull money consistently from the most complicated financial market in the world. John packs more new, innovative information into this book than I have ever seen in a trading book before."
—Rob Booker, independent currency trader
"John Person is one of the few rare talents that are uniquely qualified to help traders understand the process of successful trading. With today's markets becoming increasingly challenging, John has cut right into the essentials and brought forward the much-needed tools of forex trading. This clear and well-organized publication is a major step forward in helping traders gain an edge. I would highly recommend Forex Conquered as a valuable handbook for both aspiring and experienced traders alike."
—Sandy Jadeja, Chief Market Analyst and EditorLondon Stock Exchange, London, England
"Forex Conquered is a bold title, but this book delivers the tools needed for successful forex trading. There is no fluff here, just the wisdom of a trading veteran that I have always respected-and followed."
—Michael Kahn, Editor, Quick Takes Pro market letter and Columnist, Barron's Online
"This is a wonderful, in-depth view into the explanation of technical analysis and prudent money management guidelines in the forex market."
—Blake Morrow, President, 4XMadeEasy
"Forex Conquered is a meaningful contribution to the growing number of books on forex trading. John Person provides a professional view of forex trading that readers will be able to use as a guide for strategies and tactics that work. The scope of the book covers more than forex and includes salient aspects of futures and option trading. It should be read and then re-read!"
—Abe Cofnas, President, Learn4x.com
Note: CD-ROM/DVD and other supplementary materials are not included as part of eBook file.
Customer Reviews:
Great Forex Trading Book.......2007-10-15
I loved this book, it was very inspiring and I think that
Whatever level of trading experience you have you
Would find it helpful.
Here are some of the subjects that I found particularly
Well covered:
* Trading Systems
* Strategies
* Tactics
* Risk Management & Reduction
I also liked the examples and the companion cd.
I would highly recommend it to anyone with an
Interest in Forex.
Gerald Mason
Nothing good here.......2007-09-22
I would agree with Ctrader that this book is not good at all. The CD is a joke as the so called calculators are available for FREE on the internet, deceiving as the "calculators" are webbased and FREE. Unfortunately, once you open the CD you cannot return the book. The 3 systems are worthless, MA and MA of Pivot Point crossovers. A joke. The Fibonacci part, well the author actually missapplies these lines, on the wrong leg, LOL, applied on the current leg instead of on the leg being retraced. A joke. You could learn more for free on the internet from people that actually know how to apply what this author is trying, but not succeeding, in explaining. It is a shame the Wiley would let this author write this book and to allow this nonsense to be published. Shameful way to steal people's money, since once you open the CD slab you cannot return the book.
Over priced book.......2007-09-18
The author only back tested one idea with two variations, and for this reason it deserves two stars. In the book, Pivot Point Analysis, Fibonacci methods and Elliott Wave Theory are all nonsense and that is why I believe the author did not back test the aforementioned. I believe there is more reliable methods for trading such as: pattern recognition; intermarket analysis; and to a certain extent few indicators for timing only.
Armed and Ready to Conquer!.......2007-09-15
Bought it...read it...enjoyed it. I have read numerous books in the last 3 years on topics such as stocks, options, trading systems and most recently currency trading, which is my prime area of interest. Many were written by authors who talk the talk. John Person talks the talk AND walks the walk. Translated: he writes about systems, triggers, indicators and trading philosophies that HAVE BEEN SUCCESSFUL for him, and he has the experience to back it up. Will they be successful for the reader? That depends on many variables, not the least of which is how well one learns and implements the material. You know what they say, you can lead a horse to water but you can't make him drink. While the author could have used a good proof reader and larger more visible charts, the material is relevant, insightful and interesting. And heck, you even get a CD with a few lessons on it to make things a little clearer. There are many ways to trade the markets. This book provides insight as to how one SUCCESSFUL trader has done it. You can criticize many things in life but one thing has always been true: you can't knock success. Thanks John, for sharing with us the weapons you carry into battle with the forex market. I, for one, am better armed because of it.
Be aware.......2007-09-10
in this book you have lots of fillings. like that : because any idea will work great if you have a trending market. so I do not like the charts that shows a good looking results while it does not work in the real live trading. it has three poor systems with no commision or slippage (the profit target for the winners is 40 pips while the neglegted commision is 30), sure it will look good on the backtested results but unfortunatly it is not realistic, it is deciving."traditional chart Patterns" is usless pages and candlestick patterns, pivot point calculation are free on the internet, introduction to the Curruncy market......I could not find one single thing or idea to say somthing positive about this book So
Be aware of any guy with ear to ear smile on his book cover. and do not beleive the five stars unless the reason is clear. review it first then make up your mind
Average customer rating:
- Amazing Psycology
- Like the name says
- a mindset for stock trading
- Only for the Serious Traders
- The Disciplined Trader: Developing Winning Attitudes
|
The Disciplined Trader: Developing Winning Attitudes
Mark Douglas
Manufacturer: Prentice Hall Press
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Customer Reviews:
Amazing Psycology.......2007-09-28
If you are looking for a answer to your trading psycological problems, this is it!!! This books takes you into a journey of understanding your self and your physical functions as a primary element of trading success. I have understood where my fear comes from and of course, I have understood that everything is an illusion and that the market cannot do anything to me.
You outhere, readt it!!!! You will open yourself to a new state of mind.
Like the name says.......2007-07-22
This book is all about discipline in trading. Great reference book, and I think it should be taught in courses as well. After I read this book, I reviewed all the losses I made in the stock markets over the last 14 years of trading, and found out that most of them simply was due to the lack of discipline !
The book is written in a great language, where I believe the writer fought hard to choose every single word.
A must have for everyone who trades, intend to trade, or even experienced trader.
a mindset for stock trading.......2007-03-31
the author takes you from his time as a novice stock broker, personal banckruptcy and all, to his eventual success. And it comes down to psychological mindset. The market is a whole different animal from anything you have ever experienced. Indeed, it is your past experiences and successes that may cause you to fail in the market. So, before you ever trade, this book is a must.
Only for the Serious Traders.......2007-01-25
Fantastic book that deals with how we think when it comes to trading. It will challenge you, it will make you think, it will entertain you and it will give you direction. Do yourself a favour and order a copy. If you are prepared to look deeply into how you think while you trade then this is a must have book.
The Disciplined Trader: Developing Winning Attitudes.......2007-01-11
Absolutely one of the finest books of its kind, I keep it beside me like a bible.
Book Description
Option master David Caplan reveals how option volatility . . .- Accurately indicates market tops Ft bottoms- Signals which option strategy is best to use- Indicates whether options should be bought or sold- Can be used to increase your probability of profitPlus - discover high-powered strategies for...- Exploiting option market inefficiencies- Using neutral option strategies to trade like a "bookie"- Recognizing and increasing returns by selling overvalued options,- Using "special circumstances" and trading range markets to your advantage- Benefiting from reliable seasonal tendencies in volatility- Volatility charts of the futures' options markets, methods used most frequently by top options traders, common mistakes to avoid - and much more! "For the first time an "insider" has revealed the "secret" of the professional option traders who well "overvalued" options to unsuspecting public traders."-Ken Trester, author of The Complete Option Player"As a professional option trader, I found The Option Secret gave me new perspectives on using 'over and undervalued options.' I only hope others DON'T read it - and get too smart!"-Jon Najarian, option trader profiled in The Supertraders"This book is long overdue. It should not be missed by anyone who trades futures or stocks."-Chris Myers, president, Traders' Library
Customer Reviews:
I'm not fond of options....but this is a great book!.......2003-04-30
Mr.Caplan has put a great spin on option investing. If 90% of options expire worthless why buy them, just sell them. This is where this book shines. I have been involved with futures for 11 years. I have been a broker an investor ...
In each instance I have avoided options on futures. With Mr.Caplan's assessment on how volatitlity plays a key role to determining what options to sell and what price to sell them at. I was impressed at how he was able to take a complicated subject and make it easy to read.
His inclusion of articles from various other option traders was great as well.
If you write options ONLY!.......2003-01-26
This book was promoted heavily on different sites on the net, and I happened to be one of those who bought it!!!! To cut the story short, this book is not for amatuers! And not for ordinary regular option buyers (like me)!
This book covers only:
1. Futures trades (mainly).
2. Option writing and spreads.
But if you are not both of the above... forget this book!!! At the beginning of this book, you'll see how deeply the author discusses futures not stocks! And when you get to page number 47, you understand that this book is useless if you (like me) only buy options.
I am not saying this book is good or now, how am I to know?!! I can't even test his methodology... but in my situation this book is of no use!
Worth a Read.......2002-12-09
Though dated and focused on Futures, I found this book to be very helpful. The last 3rd of this book is a collection of articles written by other authors on the subject. Very useful!
Why not 5 stars? It is focused on Futures instead of Options in general.
This is only mildly annoying as most of the information is relevant to Options.
Again, very helpful book.
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