The Nature of Risk
Author: Justin Mamis
List Price: $19.95
Our Price: Click to see the latest and low price
ISBN: 0870341324
Publisher: Fraser Publishing Co. (19 November, 1999)
Sales Rank: 89,749
Average Customer Rating: 3.89 out of 5
Customer Reviews
Rating: 5 out of 5
Still near the top of the list
It's been four years since I first reviewed this book (see the next to the last, below), and I still consider it to be absolutely essential for anyone considering any sort of involvement in the financial markets. In fact, it's probably essential for anyone who is considering anything at all that entails more than minimum risk.The amateurs miss the point. This is not about the best stochastic settings or how to massage the bid and the ask. This is about facing up to the very real risks inherent in the financial markets, including the very real risk of financial ruin. Amateurs don't see the risk; therefore, they don't bother to grapple with it. Instead, they would rather blow up and disappear. If one wants to last, he must come to terms with the nature of risk, his own tolerance for risk, an understanding of how to manage risk. Without that, he's doomed.
Rating: 5 out of 5
Best book I have read on the psychology of trading!
I was reluctant to buy this book based on the first reviews I read. However, I have been daytrading for four years now, and frequently go against the crowd. Perhaps it is this contrarian view that keeps me in this business. I manage a proprietary firm in Denver (Bright Trading) and recommend this to ALL the new traders as well as veterans of the craft. It is fresh, insightful and really gets to the meat of what makes one trader successful while another fails. A great companion to this book is Mark Douglas' book Trading In The Zone.
Rating: 2 out of 5
Not useful if you have the 2 better ones
Firstly, I have a lot of respect for Mamis, so this is NOT to run him or his writing style down. In-fact, I have given his other books, When to Buy and How to Sell the Five Star ratings as they are very useful and well written.
However, after reading those, this book seems to repeat some of the points made in them and seems a little defensive about Technical Analysis. Avoid this one but positively buy the other two.
Similar Products
Trader Vic--Methods of a Wall Street Master
Winning the Mental Game on Wall Street: The Psychology and Philosophy of Successful Investing
Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude
How to Buy: An Insider's Guide to Making Money in the Stock Market
When to Sell: Inside Strategies for Stock-Market Profits
Book Index