Think & Trade Like a Champion: The Secrets, Rules & Blunt Truths of a Stock Market Wizard

Good for traeder

One of my favourite books on trading by a top trader. Practical and solid stuff

This book is a must read for anyone who has ever dreamed of becoming a professional trader. Mark is one of the famed “Market Wizards” who has achieved consistent and outstanding performance in the stock market over many decades. He has been there and done it. Breaking the magician’s code, Mark reveals how he did it. The book explains the fine points of his methodology, trading plan, money management techniques and thought process like no other stock market book I have read. Let’s face it, few if any top professional traders ever reveal their entire methodology in a book and none in such fine detail. His market mastery is truly displayed in this one. The book is full of in-depth knowledge, motivating and powerful anecdotes and refreshingly blatant straight forward advice on trading. It is written in an easy to read conversational style which make you feel like Mark is sitting next to you, teaching, coaching, and motivating you through the book. The book is clearly for the reader who truly wants to succeed in trading. Although much of the book can apply to any trading style, I would recommend reading Mark’s first book before reading this one. Having been a professional trader for many years and read countless books on the market, I have no doubt Marks’ books are sure to be alongside the other great trading classics which have stood the test of time.

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I have read his book, "Think & Trade Like a Champion", his companion book, "Trade Like a Stock Market Wizard", and "Momentum Masters", where he is inteviewed along with 3 other top traders: David Ryan, Mark Ritchie and Dan Zanger. And I have met all of them. I also attended Mark's recent 2019 "Master Trader Program" which also featured David Ryan and Mark Ritchie. In over 35 years of investing and trading, I have read all the important books on investing and trading. Mark builds on the formidable foundation built by Jesse Livermore, Richard Wychoff, and William O'Neil, among others. If you've read O'Neil's book, "How to Make Money in Stocks", you have the foundation that Mark builds upon. In fact, he attributes much of his success to the techniques taught by O'Neil. But Mark expands upon O'Neil identifiying what he calls the "Volume Contraction Pattern". O'Neil touches on the pattern but Mark really explains it and shows it in action, time and time again. The precise characteristics become quite clear. More importantly, Mark shows how he manages his money, manages his risk, deals with volatile or flat markets, and methodically manages every aspect of his trades. How he preps for the next day, how he gauges the market environment and precisely how he uses stops to control risk. Mark's books are indespensible to anyone looking to trade the market and protect their investments. They are essential. Along with O'Neils books, they give you everything you need to succeed if you can stay disciplined enough to follow the rules he lays out. It is as much a psychological war within as it is a war with the market. Perhaps more so. But with the knowlege he imparts in these books, the rest is up to you. If you had to read only 2 books about investing in stocks, I would recommend Mark's two above all others.

Very useful for traders. Well worth a read.