Victor Sperandeo or"Trader Vic” has been professional trader for 24 years and was called the ultimate pro by Barrons and we have more info on his background on this site, some great quotes and the Secret of the Gamboni which is one of my favourite excerpts from the book. So check out our other articles. Here we will give a review of the book which we think all traders should read. The book is not about Forex but that doesn't matter it covers broad investment principles which are applicable to any market and also discusses psychology and how the economy works domestically and internationally.
Contents of the Book
He has build his success based on on 3 core principles Capital preservation, consistent profits and pursuit of superior returns. The book gives great insight into Dow Theory and how it relates to trends and also has info on catching trends and drawing trend lines correctly ( which most traders don't) and also has a couple of simple and effective trading strategies which are his 1-2-3 method and his 2B or Not 2B, techniques and the book also cover the use moving averages. You also get some great insight into trader psychology risk control and how to survive the markets and the chapters on how money works should be read by all investors.
Reflections on Emotional Discipline
I particularly like Part 2 of the book which is “The Commitment to Make It Happen: Emotional Discipline” While there is much in part 1 to learn from I think Part 2 should be read by any losing trader or trader who wants to improve their performance – you won't win trading Forex unless you have control of your emotions and this section is very good at putting you on the road to being a more disciplined trader.
What Others Have to Say Aboiut Trader Vic
"Here′s a simple review in three steps: 1. Buy this book! 2. Read this book! 3. See step 2. For those who can′t take a hint, Victor Sperandeo with T. Sullivan Brown has written a gem, a book of value for everyone in the markets, whether egghead, novice or seasoned speculator." (John Sweeney, Technical Analysis of Stocks and Commodities)
"Get Trader Vic–Methods of a Wall Street Master by Victor Sperandeo, read it over and over and you’ll never have a losing year again."(Yale Hirsch, Smart Money)
"Investment strategies from the man Barron′s calls "The Ultimate Wall Street Pro" Victor Sperandeo is gifted with one of the finest minds I know. No wonder he′s compiled such an amazing record of success as a money manager. Every investor can benefit from the wisdom he offers in his new book. Don′t miss it!" (Paul Tudor Jones)
As you can gather from this book review – we love this book! Go and buy it and you may find, its one of the best investments you have ever read in terms of, trading education which can give you practical advice on becoming a successful trader. As the quote above says - go and buy it, for insight from one of the true great traders of all time.