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Review from an Amazon reader:
Excellent book. I have absolutely no idea what kinds of drugs the other reviewers were smoking!
Firstly, the importance of recognizing which mental processes are the ones sabotaging most investors cannot be overstated! That is one topic that is discussed in the 1st section of this book. While it doesn't go into overt depth regarding the psychology/sociology of poor investment/trading practices, this section absolutely provides insight into what warning signs to look for. For example, what 'triggers' cause an otherwise rational trader to make an emotional decision he may later regret? And not only what are the triggers, but what is the underlying mental process or mechanism which is at play? For example you buy a stock, and you are *sure* its going up, but it starts going down just a bit, then a bit more... Until it's past the stop loss you previously had promised to sell by, yet you want to give it just "one more day" to see if it can recover... Why do people do this? Why do they rationalize doing something they probably do know (deep in their mind) is unwise?
The sections on Wyckoff, both his strategies and his influence, are excellent. The explanations of the composite operator are probably the best I have seen. The technical analysis sections are dense but extremely clearly written. There is a lot of information to forward, but it is laid out succinctly... However if you just rush through reading these chapters you likely won't catch it all.
Anyways, I hope my review has at least counterbalanced some of the ridiculous 1-star reviews posted about this book.
I have amassed a whole bunch of technical analysis books on Forex (Day Trading and Swing trading the Currency Market by Lien, Commodities trading (Diary of a Commodities Trader Brandt), price action (Understanding Price Action by Volman), technical indicators (Technician's Guide to Day & Swing trading by Pring), Wyckoff (Trades about to Happen by Weis, Charting the Stock Market by Shroeder), volatility trading, Reminiscences of a Stock Operator by Lefevre, and a few others....
The Three Skills of Top Trading by Hank Pruden is absolutely among the top 3 books on trading and investing I own... Really an *exceptional* book written in a clear, concise, non-condescending, and approachable manner. I don't understand why this book isn't more popular.
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