Thursday, 22 June 2017

Pit Bull: Lessons from Wall Street's Champion Day Trader

I read this book twice (somewhere between 10-15 years ago~ wow, long time ago!). This time around, as I rearranged my book shelf, I suddenly found this book. The urge to re-read this book was there. So, here I am with a long time but well-kept book.

Well, last two read was not so nice as I felt the market environment seems not really suitable with the idea presented in this book. This time around, I found that I enjoy reading this book despite the fact that I learnt less. It sounds ridiculous but true... I am on the 17th year of my speculating career. I went through lots of similar scenario in this book which including all the sweet moments and hard times. As such, although I found I learnt less in this book, but I certainly enjoy it. After all, it was part of my stories too. Of course, the only exception is that I am not yet the "Champion Trader" and I am still far being the "Champion Trader", haha...

Overall, this is a real "entertaining" book. But, instead of labeling it as "lessons" from the great trader, I would classify this book as one of the biography type of books. The author focuses on his whole stories from day one and never reveals any specific "lessons". The ending chapter was all about the scarification of health behind the author's successful trading. As mentioned by wikipedia, the author continues his success in horse racing these days. In another words, the author seems to finally distance himself partially from trading which was his target as mentioned towards the end of the book. This in fact turned out to be the best "lesson" in this book. Trading itself is additive. But to trade to an extend that you lost your whole life does not justify the successful part of trading. As a human being, we still need to have life.

For a rating of 10, I might give 10/10 if this book is quoted as "biography". But, since the title itself is kind of misleading, i am rating this book at 7/10. At least the final "lesson" justifies the rating that I gave. (Haha) All in all, this book is one of my favorite books, not for its trading method, but for its entertainment value. 

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