The Trend Following Bible: How Professional Traders Compound Wealth and Manage Risk

After few nice read on my beloved football stuff, it is time to get serious again. In fact, it is the best way to kick off year 2015... provided this is a nice book!

At the end... it is a nice book. Relatively... Compares to Michael Covel with his Trend Following, Andrew Abraham may be the better author as he wrote this book with his professional trading experiences for 18 years in commodity. Put it this way... if Michael Covel's book focuses more on theory, Andrew Abraham presents this book with tons of practical part plus excellent examples.

I personally like the early part in this book where the author presents profiles of successful traders with evidence to support his "bible". In fact, along the book, the author repeats tons of psychology tips to ensure readers are ready with proper mindset. This is important to help traders instill strong mentality in dealing with trend following. After all, it is worth repeating as that stuff are useful regardless to newbie, intermediate or old and bold traders.

The only flaw is... there is a contradiction when the author tried to apply filters in bypassing certain trade opportunities. In my humble opinion, trend following is built up by tons of continuous small losses with a big chunk of huge profit to cover it. As such, every single opportunity is so precious that there is no way a trend follower can afford to miss out. As pointed by the author in the latter part of the book: "The last trade has no bearing on the upcoming trade. Every trade is 50/50 and statistically independent. You must take every trade - you cannot pick and choose because you do not know the future!" Ok... if that is the case, why apply filter and choose certain criteria not to trade? In my humble opinion, a cautious money management is good enough to solve the said problem!

Rating wise, this is definitely a nice book to read on. As such, I am rating it at 9/10 due to the small confusion as mentioned above. In fact, I highly recommend this book to newbie, as it is not so "theoretical" compares to Covel's "Trend Following".  It will be nice to read this book follow by Covel's other books. By then, readers may appreciate more on Covel's hard work in presenting his idea.

Last but not least... I wish to sum up this book with one of the best quote in the book:

After experiencing a loss or bad week, too many traders give up and start looking for or start trading a different strategy. And while the trading strategy they just abandoned is recovering from the drawdown, the new trading strategy may result in yet more losses, so again, they start looking for another. It becomes a vicious cycle. 

在大時代中的定位

去年的【大城心事】销售量8000本，让峰哥觉得好意外。峰哥，您太谦虚了。“大城心事”这个节目解答了好多听众的疑难杂症。8000本个人都觉得少了。因为，你帮助的听众肯定不止这个数目。

今年，来了本所谓的“工能”书籍。在书局里，咋看之下，这本书挺厚的。结果，回到家，一翻再翻，半小时里竟然把整本书啃完了！！！

其实，这本书给我的启示不多。定位的道理我从来就没迷失过。我很幸运。打了一份工，做了一盘生意，我的人生就这样走过来了。一切的一切皆因为定位！所以，看到书的主题虽很吸引，但里头的概念却没什么新意。

别误会，我不是说这本书峰哥写的不好。但是，这个主题对于迈入不惑之年的我来说或许真的很难擦出火花。唯一我不太满意的地方是这本书真的太薄了。一眼望去，感觉挺厚的。但是，里头的插图太多了。不过，我还挺喜欢它的排序。整本书排序的很整齐。可能因为太整齐，再加上内容不厚，半小时看完还真的慢了，呵呵。。。

整体来说，这是本不错的书。不过，我觉得它的“定位”肯定不是我这一类人。10分满分，基于个人因数的考量下只能给予4分。还是很期待峰哥下一本书；加油，峰哥！

一个操盘手12个月的日记:400美金我翻了一万倍

好久没看中文书了。。。这回，来点另类的。。。这一类书籍很少出现在我的书架上。当初，购买的原因主要是为了得到邮购的优惠。况且，曹仁超的推荐一直不是我很相信的（呵呵）。无所谓，读书总有好处。读到一本不好的书，只要能体会到它的不好，总算也没浪费时间。况且，这本书太薄了，不难啃，呵呵。。。

结果是。。。这本书真的没什么看头。第一，里头的理论几乎是一般投资书籍都能找到。再来，作者挺矛盾的。一开始，作者挺强调长期持有的理论。但，作者的操作模式却有点偏向短期和日交易。也正因为如此，持有货币交易关于利息方面的问题完全不在作者的讨论范围里面。还有一点，作者堪称货币交易是个零手续费的交易。一般熟习货币交易的投资者都明白为什么没交易费。因此，里头所隐瞒的玄机很容易误导读者。

最后，作者对于杠杆的效应也描述的太简单了吧。杠杆对于作者只是放大某些效应的一个工具。在书里头，作者完全没提到杠杆背后所需要的资金备用。除非，作者纯粹把货币交易当成是日交易的一份投机形式。要不然，资金备用在杠杆效应下应该扮演着很重要的角色呗！作者一而再的强调长期持有的好处，但又一再的以日交易的概念去“翻”他所谓的“一万倍”。这还真的是矛盾重重。。。

这本书不是一本值得推荐的书籍。（曹仁超还鼎力推荐呢！）虽只花了我那一丁点的时间，但个人收益实在有限。市面上还有更多的好书籍值得去阅读。这一本，绝对不是首选。阅读这一本书就好像是上了一堂免费的交易课程。作者最后还是希望读者能够参与他的培训课。书里的最后主要都是在卖作者的课程。因此，如果读者想省时间，外面大把这样的课程可以聆听。满分10分，看在作者漂亮的包装份上，就给个1分吧。