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Readers reviews of Real People: Real Traders

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What makes this book different from Schwagers collection of interviews is the type of person interviewed, the trading summary, and the psychological profile at the end of each section.

 

Generally these are not high flyer traders handling other peoples money. These are the type covered in Schwagers books. These are ‘real’ people from a diverse range of backgrounds. Many started with limited capital, including one person, who like myself, started with $2,000. Quite a few came to trading after a career, or two, in other non-related fields. This experience is closer to that of the private trader, and this makes the book very useful.

 

At the end of each chapter there is a trading summary discussing the methodology used by each trader. This is often lacks the detail necessary to make it really useful, but it is a handy reference point. There are some useful ideas and starting points in these sections.

 

Also included is a model psychological profile on each of the traders. This is most usefully treated as an example of a stereotype of a number of trading personalities. These include the Possibility-Thinking model, the Recognition model and the Independent Thinker model etc. There are many models of psychological behaviour which suggests that there is no single trading profile.

 

If there is one failing it is the remarkable uniformity of character building and childhood experiences, religion, spirituality etc which may possibly be related to the fact that they have all sought professional help with Adrienne Toghraie who provides psychological assistance to traders. This means the traders interviewed have already been filtered through a selection process which is skewed in a particular way. This is not a defect in the book, but it does sound a warning to consider a wider range of trader interviews and personality types.

 

This is a very useful book and a good addition to other books based on trader, or money manager, interviews.

 

 

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