‘The Way to Trade better’ Book review
In this book, John Piper explores the 5 step process of transforming yourself to a winning trader. Here are my 3 top learning points from the book:
1. The trading pyramid which is categorized into three headings of Trading system, Money Management and Psychology. – It is an important topic for traders to re-evaluate their strategies. It is also in line with how we train our traders, with one addition of stats review to monitor the system progress in real-time and when necessary to optimize it.
2. 3 different types of money management are discussed and their breakdown of wins and losses to analyze the overall net profit. – This is a great section for traders to review and get ideas to implement into their own strategies.
3. ‘What marks out successful traders is their ability to control their emotions in the trading situation.’ – This is a great quote in the book that I liked. The section on the 19 problems that a trader faces and how to overcome them is a good read too. I must say the psychology section in the book has been well written and sets it apart.
Overall, it has summarized the methodology to design a trading system and has given good strategy examples. A good read for beginner traders and great reinforcement for experienced traders.
To purchase the book, click on the link: https://www.harriman-house.com/the-way-to-trade-better