Trading2k.com Financial spread betting blog» Book Reviews

The Age Of Turbulence By Alan Greenspan

admin — Wed, 07 Oct 2009 19:06:09 +0000

This book doesn’t quite fit the whole spread betting theme but it does provide a fascinating insight into the mind of a gifted and inspired visionary. Now I know Alan Greenspan is getting a bit of a hard time lately being branded the scapegoat for the subprime crisis. However this man presided over the financial system of the United States through some of the most problematic periods in economic history. His legacy may now be slightly blemished but his wisdom and insight are as valuable now as they were then.

The book leads you through his life from his earlier years in a nostalgic and eloquent manner as you might expect. It is a personal memoir that makes you feel a part of it, giving you the sense that he is speaking to you over a whiskey by the fire. This tone is carried through the first half of the book as he discusses his love of numbers and music. An endearing tale of a man who had strong personal values and a firm belief in himself which is what led him through his earlier years.

He discusses global politics and his relationship with the presidents of the day. His relationship with George Bush was a trying one but he also has fond memories of better days. Personal relationships with his mother and wife, Andrea Mitchell, keep the book from becoming too impersonal and lend a human sensibility to his personality.

The later part of the book discusses his views on geopolitical matters and the rise of various regions around the world. He discusses the challenges and opportunities that will be faced by the United States and the world at large and analyses these matters in a thoughtful and compelling way.

This was a great insight into a man I respect and continue to respect for his global achievements. A better understanding of economics would have benefited me through the latter half of the book but none the less an intelligent and insightful read.

The Financial Spread Betting Handbook

admin — Wed, 07 Oct 2009 09:24:06 +0000

I need to preface this review by stating that this book does contain many gems of information and is a good worthwhile addition to any spread bettors library. That said why the mountain? If I wanted a mountaineering book I surly would have bought one. The necessity to metaphor learning with climbing a mountain for anyone older than 5 years of age should never be used as a writer’s device, in any book (except for a mountaineering book).

Malcolm has successfully turned an exciting and adrenaline educing topic into a lecture on the physics of molecular diversity within singular cell organisms. The drab tone and lack lustre writing is a kin to reading a technical manual whilst your great new shiny tech toy sits on the floor.

Now that I have all that out of my system I can go on to say that the book is one of a few that tackles spread betting alone and does not hastily add it as an additional chapter. It explains spread betting in a technical matter and explains the various options available. Examples are well done out and risk management, the psychology of trading and methodologies are all well delivered.

If you are starting out this is a must have. It is a little expensive considering the price of other titles but it is well researched and up to date. If Malcolm was a bit looser this could have been the all in one but instead feels a little like a school textbook. None the less I do recommend this as required reading.

A Beginner's Guide To Day Trading Online

admin — Wed, 07 Oct 2009 09:07:57 +0000

Having read the “Beginners Guide to Short Term Trading” I bought this and even though they have similar content they do complement each other. Toni Turners friendly style delivers a coherent dissection of the skills required and introduces you to each. The chapters are again logically driven and well defined.

This book goes into further detail on technical trading and charts are well discussed. The theme is obviously geared towards day trading but the principals are similar and the book does provide some valuable insights. For day traders the language is broken down and the differing types of day trader analysed. Instead of recommending a path or strategy Toni simply outlines the options to allow you to choose. The pros and cons to each of these are well discussed as are methods of trying each.

This is another good book from an authoritative figure which will have you scalping and shorting in no time.

Beginners Guide to Short Term Trading

admin — Wed, 07 Oct 2009 09:01:58 +0000

This book is a must have in any traders arsenal. It is insightful and logically progresses step by step through each chapter. This approach builds on the knowledge you have gained and advances it incrementally thus never making the book feel like a heavy text book.

Toni Turner talks from the perspective of a winning trader who has had a long successful career. She shares her wins and losses and most importantly the knowledge she gained through each. From a basic history of the stock market to setting up, technical and fundamental analysis the book delivers a well rounded introduction to short term trading.

I personally gained more from this book than any other I have read and still refer to it now and again. The information in each chapter is well laid out and expressed articulately. Examples are well illustrated and relevant to the chapter.

Short selling is discussed along with winning strategies whilst not avoiding the obvious pitfalls of trading. Whilst not a one stop shop for everything it is a must for anyone starting out. It avoids the moral boosting talks and discusses the topics at hand in a mature unbiased tone. All in all one of my favourite books to date.

The Naked Trader 2

admin — Wed, 07 Oct 2009 08:47:40 +0000

Considering my enthusiasm for The Naked Trader I pre ordered The Naked Trader 2 with the eager anticipation of more light hearted stories and friendly fun. Whilst the book gives you a little of this it seems to try too hard to be a serious trading book and looses the personality of the first. In his attempt to make a proper book (because as he insists it’s not for the money) he gives you a little of everything and not much of anything.

The information within the book is more detailed that the first book but not detailed enough and whilst he tries to show various trading strategies there is the element of vagueness that comes with trading strategies. His strange views on technical’s and charts seems to be born of ignorance and he washes over this whole topic which makes the book quite biased towards fundamentals.

Whilst it is not a bad read it is a little disjointed and didn’t endear me to him as much as the first. If you haven’t read either book the second does give you more trading tips but at the loss of a good read. In the end it comes down to a good fun read vs. more information and no personality. I will stay with the first.

The Naked Trader

admin — Wed, 07 Oct 2009 08:40:13 +0000

The Naked Trader was one of the first books I read. It offers a great starting point into the world of trading and although it doesn’t go into spread betting it is a very useful read. The tone of the book isn’t preachy and Robbie Burns uses day to day language to explain trading terms. It starts off with a warm introduction to how he started out trading and gives you the kind of self belief you need when beginning.

Robbie clearly prefers fundamentals and does not delve too deep into technical charting or trading technicals. He walks you through his trading day and which offers a great insight into his personal trading strategies. He explains what websites he uses how he sources his information and gives you little shortcuts to gaining the information you need. All this combined with his compulsion for toast and little side stories about Mrs. Trader means that the read never gets too heavy and keeps to the light side.

If you haven’t read this it’s worth a read even for the aspirational goal of leaving the rat race and working from home. Whilst his style will not suit everyone he does not pretend to have all the answers and is simply documenting his trading methodologies. The Naked Trader is a warm and pleasant read that left me wanting more.

Bets and the City

Bets and the City

admin — Wed, 07 Oct 2009 08:34:11 +0000

The book advertises itself as “Bridget Jones meets Wall Street” which is a little deceptive. Sally Nicoll’s unfortunately lacks the wit of Bridget Jones or the savvy of Wall Street. What the book does offer is a how not to guide to spread betting. It is amusing is some parts but then you realise you’re not laughing at the situation but at the shear lack of understanding or research she has done.

I am possibly being too harsh but there are really very few redeeming aspects to this book. This was the first book I read once I started becoming interested in Spread Betting. I did heed some of the errors she made and thank the book for that much. What I think disappointed me the most was that she appears to be keener on writing a book for the sake of it than providing any insight into successful spread betting. She shows a wilful determination to avoid any true research into spread betting and instead takes a frivolous gamblers approach to the whole matter.

Whilst this is a harmless read it does not give you any useful information but does provide an amusing if not bemusing insight into an aspiring spread bettor. I still occasionally view her website in the hope she has learnt something new and is now successfully trading but alas no, she is writing another book.

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