Very thought provoking
Okay, this book is not worth the $155 price tag for the new copy but it is worth paying $20-50 for a used copy because Trader X offers up some thought provoking insight about the markets, trading and life in general.
I couldn't put it down once I started reading it. Other reviewers seem to be little negative about the book and they make some good points but I still think it's a worthwhile purchase due to it's unique content...or at least a unique presentation of the content.
Dancing with myself
This book does what it promises - it describes how one man stopped and realized how different it feels to have positive vs. negative P/L given the same market action. This is not a bombshell, but is quite readable and entertaining.
"Feel the other side of your trade" is how this book could be summarized. Then there's a lot of ranting about brokerage business and a bit of self-aggrandizement - which takes away one star in my opinion. Oh, and he knows two "100% win" traders... :-)
Also, it seems that mysterious "Trader X" is really not-so-mysterious J.A. Jankovsky - you can read his book or listen to him on CBOT website.
So let's sink another drink
'Cause it'll give me time to think
If I had the chance
I'd ask the world to dance
And I'll be dancing with myself
When you see that late night futures commercial...
This is the guy on the other end. I have been a futures broker, investor, and I authored the book "Futures For Small Speculators". I have done all of this over the past 13 years and in that time I have seen some crazy events.Unfortunately, I can attest to the fact that when I started out there were brokers that were drug addicts. But they were few or far between. I never saw anyone doing lines while speaking with a client. There were also other unscrupulous behavior. But I only saw this when I inadvertently fell into a "boiler room". None of this behavior that Trader X discusses can be found in legitimate companies. It makes me wonder what kind of person was he for staying in that type of environment. I left the second week I was there when I saw brokers in the hallways shooting craps. How much more of a hint do you need to take that a particular place is not for you. Trader X suffered from bad judgement and it reflected in his trading as well as in his decision to write this book anonymously. This is a very interesting treatise on trading. Only you can find the relevance for yourself.
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