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Rules of the Trade
ISBN: 0071450440     Date Published: 2004-12-20     Author(s): David Nassar
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Paperback
McGraw-Hill
256 Pages
 
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Last Update:
06/20/2013 01:30:54
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Editorial Review - Book Description:

Rules of the Trade distills the insights of today`s most successful professional traders, generally available only in prohibitively costly seminars, into a detailed yet accessible paperback. Candid interviews outline the basic rules of trading survival, revealing how the experts enter and exit trades, select favorite trading stocks, hedge risk without biting into profits, and more. This insider`s answer book will show today`s 5 million-plus active traders how to preserve their trading capital, avoid operational and psychological errors, and succeed in the brutally competitive but highly lucrative trading profession.
 
Customer Review:
Total Reviews: (15)
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27 of 29 People found the following review helpful.

not particularly useful, September 19, 2003 Bya professional trader (Colorado Mountains) - See all my reviews This review is from: Rules of The Trade: Indispensable Insights for Online Profits (Hardcover) Although this book has a copyright date of 2001, it apparently was written in early 2000, just at the start of the NASDAQ crash that ultimately resulted in a loss of over 75 percent of its value. Consequently, the author refers to a period of time when stocks traded in fractions, and high-flying tech stocks trading in the triple digits were "momentum" traded by daytraders. After the crash, many of those tech stocks trade in the single digits, all stocks now trade in decimals, and the "momentum" daytraders and their daytrading brokerage firms are now history. The author makes numerous references to "shadowing the axe" using Level II quotes to determine who is on the inside ask or bid. Nowadays, ECNs virtually always sit on the inside ask and bid, making it impossible to utilize that strategy. Even if a market maker had a large enough position to sit in front of the ECNs, he most likely would route much of his order to an ECN where it would appear...
 
16 of 16 People found the following review helpful.

Mismatch between Title, book description and content, January 5, 2004 By A Customer This review is from: Rules of The Trade: Indispensable Insights for Online Profits (Hardcover) I bought the book based on excellent reviews here and very attractive description.However, I have been very disappointed because the content does not reflect the attractive title and description. The book is almost 100% for daytraders trading with level II screen. This is not said anywhere. "Online" does not mean exclusively daytrading to my opinion. It keeps on repeating "be disciplined" to fill space. One of the example of trade record given does not fit the explanation given in the text. For example, the trader made most of his profit in a single swing trade lasting several days whereas Nassar wants to show us that the guy is a good daytrader...Another interesting thing: This book is not for beginners but it describes in fact very general basic rules... in a tough style that assumes that the reader already knows almost eveything.When you read the table of contents, it looks great: how to enter, to exit, etc... but none of this is given in the book. No...
 
9 of 10 People found the following review helpful.

Concise but covers +95% of rules I need to bear in mind, July 22, 2002 ByServantofGod - See all my reviews This review is from: Rules of The Trade: Indispensable Insights for Online Profits (Hardcover) I am nobody in the universe of traders. However, I am confident that I belong to the top 5% of traders who "seriously" carry on self study for better results so I deem myself qualified to write such a title. (I keep on reading and I had even gone so far to get a CFA) I dont write this paragraph for self boasting. I just want to emphasize that the author really had delivered what is implied in the book title "Rules of the trade - indispensable ...". Neatly structured, the book consists of 12 paragraphs, each of which about a specific topic, such as rules for the stock selection, rules for entering trades, rules for evaluating performances, rules for money and mind management, rules for this and rules for that...In the beginning of each chapter, related rules are listed. In "the rules for exiting trades", to name a few: dont expect to squeeze all the juice from the orange; exit on reaction, not price; set mental stops; when in doubt, get out; know why you are in a trade, and where...
 
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