Rating:  Summary: A great read! Review: As a professional trader I am always looking for the "edge". This book is weak on actual trading methodologies. But I really enjoyed hearing about his daily life and routines as a trader. Especially what it's like when things go against you as they eventually will if you are in this game long enough.I had trouble putting the book down. Highly recommended. Woops, just got a fill, gotta go!
Rating:  Summary: Psychology of a true trader. Review: Buzzy doesn't give away his "secrets", because there aren't any secrets to good trading. He exemplifies this in his good old fashioned "hard work" ethic. Mr. Schwartz has my respect for his daily routine of hard work, in researching and knowing his business inside and out, coupled with his brassy street smarts, and for his ultimate success as a day trader. A MUST READ for any reader who wishes to jump inside the mind of a successful trader. Buzzy's favorite indicator? Exponential moving averages.
Rating:  Summary: Very Fun Financial Read! Review: Here's a fun read in one of my favorite areas....dreaming of making a killing in the stock market. So much of this book is how I personally approached the stock market....giving up fundamental analysis for the glamour of technical trading....chasing down the perfect system whether it was Dow Theory, Elliot Wave, Joe Granville, or the obcure Magic T Theory (I thought that I was the only who really knew this one). The stories in this book are very entertaining like gambling stories. What I like most is the frank discussion of methodology...tactics that Buzzy shares....so similar to my own approach. If you are a Baby Boomer amateur technical stock market trader you'll probably love this book like I did. It's all about us and the 80's & 90's...pre-day trading.
Rating:  Summary: One of the best ever Review: I think some people here missed the point of this book altogether. There is no doubt that this is one of the best trading books ever written. This book ranks among the top trading books ever including Reminiscences of a Stock Operator, not because of the technical trading secrets it revels, but because of the insights it offers on the mindset of one of the greatest traders ever. This book elevates itself above almost every other trading or financial book out there for that exact reason, the author made his living (and it was a very good living) from trading the markets. He didn't have a website that offered trading ideas for fifty bucks a month. He didn't fly around the country giving seminars on how to trade at a thousand bucks a head. He didn't have a radio program where he would solicit money from listeners and call himself a money manger. He trading his own money and made a fortune.
Marty started out with a hundred grand, but his seat on the AMEX cost him ninety thousand dollars, so he was left with ten thousand dollars of trading capital. With only ten thousand dollars he made over eight grand on his first trade. In his second year of trading he made six hundred thousand dollars, and in this third year he made 1.2 million. Unbelievable!
The book is full of insights into how Marty spent all of his money, which can become a little uninteresting, but the rest of the book is pure gold. The last chapter of the book details (for lack of a better word) some of Marty's trading ideas, but that's not valuable information. The valuable trading insights are found throughout the context of the book. Much like Reminiscences of Stock Operator doesn't outline Jessie Livermore's trading strategies; however, it does give insights into how Jessie thought about the markets. Pit Bull is written in the same manner, in that, it doesn't outline Marty's strategies but offers insight into his mindset. For instance, at one point in the book Marty discusses how he likes to trade the S&P 500 futures. This information is just glanced over by ninety-five percent of people who read the book, but it is some of the most valuable information the book has to offer.
This book is underestimated because most people just see Marty Schwartz as a self absorbed, egomaniacal jerk. I'm not going to make a judgment on Marty's attitude; instead I'm going to say that this book does one thing: it offers insight into the mind of a great trader. Notice throughout the review I've been using the word trader. If you're unclear on the differences between traders and investors you probably won't like the book. If you're a trader, Pit Bull should definitely be part of your trading library.
Rating:  Summary: Worthless and offensive Review: If you have a "groupie" personality then you will probably like this book; however, if you are an independent thinker (absolutely necessary to be a successful trader) then you will almost certainly hate it. It is absolutely worthless as far as learning anything useful about trading, although it is informative as a study in egomania in the extreme. Studies, as well as my thirty plus years of experience in the futures trading business, show that the overwhelming majority of individual traders end up losing (as many as ninety percent or more). I am convinced that anyone who likes this book has the wrong personality type to end up a winner. Only a celebrity worshipper would like this offensive piece of garbage. To be a successful trader you have to be able to think for yourself and be capable of acting on your own. No independent thinker could like this book. The fact that so many apparently did like it is one good reason why so many traders end up losing: most people are born followers, unable to think and act independently. Followers, celebrity worshippers and groupies simply do not make good traders. I have never met Mr. Schwartz, but if this book is an accurate depiction of him I hope I never do. For his sake I hope he has matured and grown as a human being since he wrote it, and is now profoundly embarassed by it.
Rating:  Summary: A must have Review: It just gives you the inspiration and general insight you need to become a professional trader. Perfectly written. Love it!
Rating:  Summary: Great read Review: Martin "Buzzy" Schwartz bares his soul on the ups and downs he has encountered as a trader. Like the books "Market Wizards", I couldn't seem to put it down. If you are looking for the holy grail in technical analysis, look elsewhere. If you are looking for a very entertaining read about the trading life, this is the book for you. He gives you the emotions involved, along with some sound tidbits on money management. I trade in the markets for a living, and truly enjoyed his candor...you will too.
Rating:  Summary: One of the greatest. Review: Martin Schwartz is an incredible genius. This book is absolutely amazing. Once I picked it up, I could not put it down for a moment, I read the book within a day or two. Offers many great insights to the business, and also an amazing read overall. This is hands down one of the best trading books I've ever read, the only thing that comes close is Reminiscences of a Stock Operator and Market Wizards by Schwager, where Schwartz is interviewed in that among others. Martin Schwartz is the greatest trader Wall Street has ever seen, there are others but none so compelling as his story.
Rating:  Summary: not worth more than 5 bucks Review: One of the best books I have ever read. If your looking for a book on the in's and out's of trading and a "show me how" type book, then look elsewhere. But for the psychology of trading this is it. From his early teen gambling lifestyle to finding the real values in life Martin Schwartz has done it all. An uplifting book that will allow you to become a better trader in your mind. Trading is 90% psychology and Mr. Schwartz will show you how he became one of the greatist traders of all time. I'd love to meet him! No matter what the situation is in life you can handle it with a trading mentality. Congratulations Mr. Schwartz and THANK YOU! You have inspired another.
Rating:  Summary: AWESOME! Review: One of the best books I have ever read. If your looking for a book on the in's and out's of trading and a "show me how" type book, then look elsewhere. But for the psychology of trading this is it. From his early teen gambling lifestyle to finding the real values in life Martin Schwartz has done it all. An uplifting book that will allow you to become a better trader in your mind. Trading is 90% psychology and Mr. Schwartz will show you how he became one of the greatist traders of all time. I'd love to meet him! No matter what the situation is in life you can handle it with a trading mentality. Congratulations Mr. Schwartz and THANK YOU! You have inspired another.
|