Millionaire Traders: How Everyday People Are Beating Wall Street at Its Own Game Review

Millionaire Traders: How Everyday People Are Beating Wall Street at Its Own Game
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Millionaire Traders: How Everyday People Are Beating Wall Street at Its Own Game ReviewRead this book, but be careful. The research and documentation are questionable.
Millionaire Traders tries to replicate Jack Schwager's "Market Wizards". It does not. Read Market Wizards first. It is thorough, well researched, and the traders in it are first rate.
There is some useful information. The traders interviewed trade a variety of instruments (not just FX as one reviewer claimed). It is interesting to see how others got into trading and how they chose their markets.
The following are what I consider the downsides of this book:
1. There is no indication of how these people were chosen. Unlike Schwager's book, the author's do not tell how they chose these 12 traders to represent successful individual traders. There is also no indication that the authors verified that these traders were successful. It appears that they just took their word at face value.
2. Some of the traders represented as being highly successful individual traders are "mentoring" and running blogs and chat rooms. A real red flag. It does not necessarily mean that they are not successful traders, but anyone who has been around long enough knows that a lot of "experts" selling their trading knowledge do so because they can't make money trading. Some are very good, but for every good one there are 10 con artists.
3. Some of the resources touted as having been instrumental in their development are worthless.Millionaire Traders: How Everyday People Are Beating Wall Street at Its Own Game Overview

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