Diary of a Professional Commodity Trader: Lessons from 21 Weeks of Real Trading

The author can be reached at plb.factor@gmail. Along the way, Brandt published a highly regarded newsletter called The Factor, and also collaborated with Bruce Babcock Jr. PETER L. Primarily devoted to trading proprietary capital in commodity and forex markets, Brandt has achieved a lofty average annual rate of return of 68 percent during his career. He has wor

"Checklist To See If You Will Find This Book Useful" according to Big Data Paramedic. I came across Peter Brandt via Twitter feed . His Wise and sage advice instantly attracted me. One of the first traits of a successful trader is being modest in his capabilities in predicting the market. Every serious and successful trader will testify to this truth. If you hear someone who is talking other wise, either he is not truthful or the big draw down is ahead of him.WHO WILL BENEFIT FROM THIS BOOK:Everyone who reads the book is not going to find it useful. You got to be a trader who makes your decisions based on charts and chart patterns to find this book useful. If you are a buy and hold Buffett style trader, you wil. Sitting with a Market Wizard J.livermore It’s a rare opportunity to get an inside look at the trading process of a legend. But that’s exactly what Peter L. Brandt (PLB) provides with his book Diary of a Professional Commodity Trader: Lessons from 21 Weeks of Real Trading.The title is self-explanatory. PLB takes you with him as he trades over a 21 week period of time. You see every trade, every profit, and every loss. The book is a front row seat to the thought process of a master who’s averaged over 40% compounded returns throughout his 40 year trading career. Most famous traders you hear about have a few good years and then blow out. They’re . Top 3 in my library Asset Manager Mine is a kindle version, and I read via the Kindle app for PCPros:-The author frankly shared his lifelong experiences and Five-month Trading Diaryit was a valuable read for me and is a good reference.Cons:-1.The classical chart patterns(basis of his discussions ) have lost some of their relevance in today's market environment (which is mainly short-termism) and the author acknowledges this today's reality2.Kindle edition has issues:-some of the figures and tables are not readable :-2.1.the font size is too small and we cannot zoom in2.2 the table orientation is vertical and Kindle app has no "ROTATE" facilityHopefully Amazon

Page by page, it:Offers a real-time, play-by-play account of Brandt's trading activities—the good, the bad, and the ugly—during his 21-week journey, and provides valuable insights into market analysis, trade identification and selection, and risk managementHighlights the basic building blocks of the author's Factor Trading Plan and examines how his plan continues to evolve with the marketsEmphasizes the central role risk management plays in market speculation—an even more important role than market analysis or trade selectionReveals trading as a fundamental battle to overcome your basic human emotionsAnd much moreUnlike mo

Not only is it a good read for anyone seriously wanting to know what trading is really like, it is also very interesting, mostly due to its real-time, diary format. I would recommend against becoming a trader. The overwhelming majority of books and seminars on trading are a deterrent to success trading. No two successful traders trade the same way – and every successful trader has developed a style unique to his or her own personality, risk tolerance and skill sets. Unfortunately, the majority of novice traders run out of trading capital or hope before they figure out the rules of the game. Once a trader learns this -- it is then possible to remove ego from the equation. Have realistic expectations. The result is that I know with as much certainty as is possible with a discretionary approach when there