My life changed after reading that book. It was a wake-up call. I went from being a skateboard-loving football fanatic, to being a focused and driven individual. I had found my calling. I had befriended the staff at the broker I traded with. They hired me as a financial analyst. I say analyst, but I was a glorified media whore. My mandate was to get the brokerage seen on TV and my credentials were an understanding of technical analysis. I was hooked, and I knew trading would be my vocation. I have since read many other trading books that are perhaps more specific about trading than Liar’s Poker, but as a starter book, I could not have asked for anything better. Tom argues that normal, well-adjusted rational people don’t work well as traders because they are hopeful when they should be fearful, and fearful when they should be hopeful. Adding to losers, letting them run, and cutting winners. In all of his published content Tom teaches how to, essentially, turn the trading game upside down.

Mathematicians, professors, market participants all have there own thought around this but yet we are all still faced with one decision :Also some older AUDUSD charts with a nice swing trade...also do the same with indices...part of the job lol.. Only the best and most lucrative clients were invited to this VIP event. On board the executive coach taking the prestigious clients to Ascot, I was introduced as the new financial analyst. Ask him anything, declared the CEO. In Liar’s Poker, Lewis describes life as a bond trader during the excesses of the 1980s. In his own words it was meant to serve as a warning to future generations about the gluttony of the finance industry, as well as a warning to young people wanting to work in the financial industry. I didn’t know it at the time, but my answer – and a similar one on TV a few months later – would eventually get me fired from my job. Even if I had known, I would not have changed my answer:

No kidding, that is what I actually think when I see Tom trading. Tom is a successful high-stakes trader. When he loses, he loses big. When he wins, he wins far bigger.

Best Loser Wins

Now you know the end destination. If you don’t like the sound of it, now is a good time to put down the book and go to the YouTube and TikTok videos and watch the Ferrari-driving 20-year-old trading coaches tell you how it is all done. It teaches how to train your brain to respond inhumanely to the survival impulses that plague the normal way of approaching (or not approaching) a trade. It’s going to require a hell of a lot of effort, and trial and error on the reader’s part. But you don’t have to trust me when I say it pays off. I’d say trust the author. Like other great stage speakers, Tom loves to deliver concepts, analogies, and jokes. You can always tell that he really is into the moment. He genuinely enjoys it. It’s not there because he has agreed to deliver a talk. He is there because he is having a blast. Training is important, and the will to act on the training is obviously paramount. However, our minds are not naturally gravitating towards taking risk. So, if you want to be a risktaker in life, you need to introduce risk into your life slowly and gradually.”

If market is random, then why trade at this special time of the day, at this special price of your entry? How you feel about failure will to a very large degree define your growth and your life trajectory, in virtually every aspect of your life. So anyways heres a couple of charts of WTI oil..4hr with measured moves marked up....(Tom uses this method for simply entering swing trades again with other conditions)Instead it provides examples and pointers on how to be prepared to trade a market. How to study it. What to expect from it. How to get intimate enough to gauge what its next move would be. When to assume your opinion is wrong. Anyone with half an afternoon at their disposal could find the same material free of charge on the internet. More importantly, my friend told me, the guru never missed an opportunity over the weekend to pitch additional products such as personal mentoring and the advanced course. THOSE WHO CAN, DO

Sounds familiar? Of course it does. The market has not singled you out, this is a coping mechanism to rationalize the pain of being wrong and paying for it.Tom also manages a Telegram channel in which he posts, live, his own trading activity.It is said there are trading rooms replicating Tom’s trades.I have no trouble believing this. As a trader I'm thankful to have come across one of the author's presentations on YouTube that lead me to many of his resources and this book -- he shares a gold mine of material without cost and by his contributions has cemented himself as a giant of the industry. I didn’t anticipate reviewing a book in this corner of the Internet but, this… not only this is on topic. I swear, this is required. Is the market Random? I’ll answer, the market is not random but I don’t believe my answer determines the relevancy of “fear, mindset and trading psychology.” I am going to tell you something that no one else in the world knows. It will be just for you Michael.