It is pretty clear that over the last couple of years the stock market has changed. You can try to play the companies with the best financials and outlook, but, with the “greedy hungry” traders exponentially growing, the most successful traders are those that can out-trade the other traders – that is what Quint Tatro’s book, Trade the Trader, is about.
Stock trading is a zero-sum game. For every winning trade there is a loser on the other end and knowing how to play the competition will make a successful trader.
Tatro’s strategy is based around technical analysis and learning how to read trends while betting against the conventional stock plays. Essentially getting inside the mind of the other traders to determine when to strike and when to pull back.
Trade the trader is essentially a stock trading book that breaks down technical analysis and how to use this type of trading strategy, with input from Tatro and his own experiences.
The books covers such topics as:
- Timing the entry into a stock
- How to use and read trend lines
- Setting stop limits for your trades
- When to take gains
- How to get into the mind of other traders
What I liked about the book: Tatro did a great job of providing real-world examples on how his strategies have worked and what should be expected.
What I didn’t like about the book: While Trade the Trader does provide educational material, I felt it was accompanied with stories and antedates that could have been left out, and the book could have been shorter than what it currently is.
Overall, Tatro does a great job on teaching the basic fundamentals of technical analysis and how to effectively use it to gain a step up above the other traders. Whether you are new to the game or just need to tweak your technical analysis skills to actually make some money, you should give Trade the Trader a read.