If "More Money Than God" enlighten me in various different ways, the previous book on "Trading Like a Hedge-fund" really disappointed me! Two extreme cases... so, "How to Trade like a Pro" may be another extreme case too, LOL.
At
the end… hmm, not extreme at all, LOL… The
author started the book by giving details explanation on how exchange, market
and products were built from day one. It is then followed by theories on risk
management and mentality preparation on how to be a professional trader. Until then,
I was actually quite impressed even though those things sound familiar to me.
Eventually,
he moved into technical stuff by presenting several chapters (in fact until the
final chapter) on how to trade efficiently. I started to get very annoyed when the whole
stories turned out to be a story purely about options. The worst part is… the
author seems to be a very good politician. Although options are presented as
main topic, but he did pointed out every weaknesses along each method. At the
end, the method which was initially labeled as effective turns out to be
something with flaws… Sounds weird but true….
At
the end of this book, I really felt like this seems like a book either from
brokerage firm or exchanges that are very much looking forward to promote
various financial products to the public. No offence to the author. But, I really
think KISS (Keep it simple, stupid) is the main key in every industries. Besides,
this book is not applicable in certain local markets (Ex. Local derivatives
markets). After all, our options sides in FKLI & CPO are still not active. In
fact, even it is active; flaws as mentioned in the book surely did enough to scare
off traders. End of the day, pricing is still pricing. Each added method will
just add more complication
Having
said that… I have no choice but to rate this book at 4/10. I would not say this
is a bad book. However, the topic presented just does not suit my character. Besides,
methods being discussed are not relevant in my situations. This book qualified
as a good reference book. However, to trade like a pro, I still think there are
better choices to refer to… Ding, ding, ding, time to move on…
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