The Elements of Successful Trading: Developing Your Comprehensive Strategy Through Psychology, Money Management, and Trading Methods
Author: Robert Rotella
List Price: $40.00
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ISBN: 0132045796
Publisher: Prentice Hall Press (25 August, 1992)
Sales Rank: 71,281
Average Customer Rating: 3.5 out of 5
Customer Reviews
Rating: 1 out of 5
completely useless?
There is an old joke about a guy who wakes up in a car in the middle of a field and has no idea where he is or how he got there. He flags down the first guy he sees and asks him where he is, to which he replies, "you are sitting in a car in the middle of a field". Our lost friend replies, "you must be an accountant, because while everything you say is totally accurate, it is completely useless".This 600-plus page book is written like a sterile academic textbook for a course devoid of any real world knowledge or experience. Ironically, the author states that the book evolved as a result of a course he teaches.
It is stated that the author was a floor trader with many years experience on a Wall Street futures exchange (been there, done that). If this is in fact true, there is not a single anecdote about his own trading experiences in the entire book, at least what I read of it. What we would be interested in is a chronicle of how the author achieved competency and his experiences on the road to trading success, if in fact he achieved this. Did he have a successful trader as a mentor? How long did he lose money as a trader before achieving success? What were some of his significant breakthroughs as a trader? Did he have a "trading epiphany"? What were the major mistakes he saw traders make who ultimately failed? What is his greatest advice for new traders?
Unfortunately, we will never know the answer to these questions, because this author completely missed the point in writing a book on trading.
Rating: 2 out of 5
3 to 4 pages to everything in trading, really everything
There are 33 chapters in this 639 page book which practically put everything you can think of about trading or investment into it. Technical Analysis, Fundamental Analysis, Trading Psychology, Options, Commodities... simply everything. The problem is: dont know whether it's the intent of the author to give so general an idea of everything to its readers or he is too agressive to encompass so much in one single book. He just used a page or two to describe very complicated items like MACD, Stochastics, Gann Fan, Fibonnaci numbers, Bonds, Computer Trading, Crude Oil, Platinum, Gamma, Theta, Rho, Delta Neutral Trading........In case you just want to have a close to nothing idea of the highly complicated trading or investment market, it's for you. In case you read in order to earn an edge to profit in market where 90% to 95% of the participants are doomed to fail, forget about this.
Rating: 5 out of 5
Excellent book
Robert Rotella captures the essence of trading psychology. This book is a must read for all investors - regardless of timeframe, experience, or markets traded. I rank it in the top five trading books I've ever read. Similar Products
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