One Good Trade

One good trade...kind of special name... yet, it reflects the very nature of trading ~~~ simply to make a good trade rather than a profitable or losing trade!

Well, a good trade may define differently for different types of traders. This is why we have this book, where the owner of a proprietary trading firm tries to nurture a group of good traders. One of his very good traders was shown in this example: "It's about doing the little things every single day and making yourself better, and that's my goal. If I do something everyday to make myself better, I know eventually my P&L is going to show." ~~~ JToma. At first glance, this whole thing may sound weird. In my humble opinion, there are other better and more productive stuffs in the world of finance. Nurturing a team and reveal in a book does not seems to be an appropriate idea. Well, since I could not find the answer, this is why this book ends up on my book shelf, LOL.

This book serves as a good exposure to newbie (in the world of proprietary trading) like me. My conclusion is: proprietary trading is something tough to follow. In my humble opinion, this is a game for small capital. Once your capital getting huge, the whole concept just cannot works as slippage, errors and tons of possibilities (black swan?) will come in. As such, unless you are comfortable working with small capital, I personally do not see this as an excellent long-term strategy.

Secondly, the last few chapter of this book started to focus on adapting. Obviously, this is very much different compares to the school of thoughts that I believe. The author started the whole book with intraday trading. Yet, it was "adapted" throughout his career that... at the end, they develop something new, named "Trades2Hold". Well, the name itself tells the whole story. The initial idea seems to "adapt" to a better idea although the latter idea can be adapted in the first place!

Lastly... the more I read it, the more I feel like being influenced into some marketing gimmicks.... Well, a buddy of mine finally proved that when we found out SMB (the said proprietary trading firm) are actually selling their trading stuff and subscribers can watch them trade lively. Hmm... Sounds familiar?

To be honest, I actually enjoy certain part of this book. As mentioned above, it opened up my mind to something new. However, there are flaws where I cannot accept blindly. As such, I am rating it at 4/10. Overall, it is an interesting "inside" stories for readers. However, I found my own disagreements. As such, I have no objection in adding this book into my trading library. But, repetition in reading this book is an absolute "no-no" in this case... Ding, ding, ding... Next book, please! LOL...