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Book Reviews in Alphabetical Order

Review by Stuart McPhee
www.trading-plan.com
 

I have come to know Brent quite well over the last year or so and everything he says about trading makes incredible sense and obviously comes from years and years of experience that money simply can’t buy.  Of all the people I have met in the trading arena over the years, I have never met someone who speaks so passionately about trading and I say this with all my admiration for him. 

When he first mentioned the idea of his book to me, I didn’t say it to him at the time but I just remember feeling deep down how good this book was going to be.  I knew it would avoid fluff, complexity and topics that many people think are important to trading and would concentrate on critical issues that most people don’t even consider.  I was confident back then it was going to reveal what he had learnt through raw experience in the markets for well over twenty years, and principles that are time tested. 

There are many books on trading available so why would Brent’s book appeal to anyone?  His passion for trading means that even though he is well settled in his own trading approach, he is always on the look out for new ideas and perspectives to broaden his own knowledge.  Furthermore, unlike many others who speak highly of trading psychology, Brent considers money management to be the most critical part to trading success, as it is his key weapon against the risk of ruin. 

He makes a good case too and you should certainly pay special attention to his large chapter on Money Management – it is pure gold.  Brent declares, “If you’re unable to get a grasp of money management it’s likely you’ll be excluded from the 10 per cent winners’ circle.”  I would go a step further and said it is ‘highly’ likely.  The way Brent tackles this crucial material is so in depth with practical examples yet so crystal clear and for this reason, this chapter alone is worth the price of the book. 

Over the years of trading and coaching traders, I have learnt many things and I am convinced that generally people fail at trading for two main reasons.  First, the majority of actions required for success are counter intuitive and if people are not aware of this, they often consistently make poor trading decisions.  Second, when people realise that trading is not as easy as they thought it would be, they tend to overcomplicate their trading plans which often causes further problems.  Simple approaches work and I am happy to say that this message resonates throughout Brent’s book.  

Stuart McPhee
Trading Coach
www.Trading-Plan.com