The Playbook: An Inside Look at How to Think Like a Professional Trader

This is an excellent book and now sit in my top 10 alongside One Good Trade. Never was a day trader, but I always aimed to find the best entries and timing to my longer plays, this book and One Good Trade has changed my trading to another level as. If you are an investor or longer term trader, swing trader and not making money or killing it in the markets, then you have to read these books to understand what really goes in a trading day, which gives you clear signals whether you should be holding or selling, for whatever timeframe you are trading. This has been written by a master trader with a group of master traders, so only ignorance will stop you from becoming better, you don’t know what you don’t know, and it’s important to know what you don’t know.

To read once a year at least (and to check every day!) I should have read this book many many years ago. Has got all! Motivational, humor and tons (most of all) of practical help.

The seller was responsive and understanding. Would purchased again in future, if the right items are up for sale.

If you already have your own set ups and are looking to get some organisation, and to really understand what you need to do in order to make the step up in terms of professionalism then this book is fantastic and I cannot recommend it enough. However, if you are starting out and are in need of setups/plays to use in the market then this book is not for you.

Brilliant read

If there is one trading book you buy it must be this one. I have read this book numerous times and every time found a nugget. This book helps to enhance your strengths and eliminate those stupid errors, which makes a huge difference to the bottom line. Many of the ideas in this book you can incorporate into your daily checklist.

This book along with Volume Price Analysis by Anna Coulling are the only two books I have found helpful with regards to learning to trade. I am a junior futures trader at a prop firm in London and have found this book immensely helpful in getting over the most common obstacles that face junior traders. The main one for me being getting your clip up and when to use more size, he talks a lot about having A+ setups and getting double clips in when you see a setup you really like and know inside out. The book is clearly written for junior traders and will be no use to someone who is clipping 400 lots in the Bund futures but it will certainly help junior traders with some of the most important aspects of trading. The structure of your trading, the processes that you got through daily and managing clip size these are the fundamentals of being a day trader and Mike explains how he teaches his junior traders how to overcome these important stepping stones. Trading is all about recognizing setups that occur continually in the markets...these setups are never identical but if you witness enough of them and get a feel for the price action and volume that goes through when they occur you can trade around them with a greater degree of probability than someone who hasn't seen it happen before. There is no substitute for screen time in this game, no way to cheat and advance yourself you have to put in the screen hours..only difference between a 4 lot trader and a 400 lot trader is they make less mistakes.....if your not making mistake your not learning. If you are a junior at a prop firm like myself then this is absolutely a must read, if you are sitting at home trading a spread betting account and thinking you know what you are doing but really dont have a clue then this is also a good read for you. If your an experienced trader then the book will be useless to you....but then if your already a big trader you wont be reading trading books will you now.

Highly overrated. The book is often publishing emails from other traders with questions. Those emails always start with them praising his other book (and I mean over the top praising, like it’s some gift from heaven). It’s a merchandising technique, simple as that. It’ annoying. Besides that the content is below medium quality. He uses to many words and I am wondering why I am reading those meaningless sentences. They don’t contain any clear message. A 400 pager that could be written in just 100 pages, well, make that 50. And the text on the charts are unreadable ! Unbelievable ! Someone who writes a book and publishes charts like this is questionable about his intentions. Don’t believe the other reviews about it is a must read over and over again. If you manage to get at page 200 without giving up you deserve a medal for persistency. Final note, the title of the book is wrong. It should be called ‘ how to act like a professional trader’ not how they think cause 99% thinks just like retail.

Se você quer ser um trader, leia este livro! Leia e re-leia! Fundamental para entender este fantástico jogo! Ou melhor, este modo de viver!

When I started reading the book (the introduction), I thought I was reading a novel and was so captivated by the events that I started hoping for a happy ending. But that was real life -the author's personal life. It`s about resilience in the face of suffering and vicissitudes of life. The lesson is that you cannot control what life throws at you but you can control your reactions. Positive attitude and perseverance always prevail and the analogy with the market and trading is obvious. You cannot control the market but with hard work, determination, and persistence the trader can achieve positive outcomes. Most trading books give you "canned" methodologies. This book also give you a superb methodology to work with but it also opens the door wide open for creativity, urges the trader to keep an open mind and continually strive to hone one's trading skills in order to be able to adapt to new market conditions. Also, the book emphasizes that trading is not rocket science. It s all about doing one's homework, managing risk, and learning from one's mistakes by reviewing and scrutinizing one's trades daily. This is explained by giving real examples of real trades executed by real traders. On this basis, every trader has to create a "PlayBook" in order to "archive" the best patterns that work best, "internalize" them and make them his/her own. This creative mindset is the key to survival in the market. The following quote summarizes it: "Trading is a skill that must be learned and honed.. You must develop a PlayBook of trading patterns that make the most sense to you. To become great at these setups takes experience, practice, and a love for your game. Only then can you join First Team Wall Street." Pg 202 Moreover, the author stretches the importance of constant coaching because even the best traders need coaches. He gives the example of famous athletes who surround themselves with teams of coaches and traders are no exception, they need coaches too. Needless to say, the trader has to be always pro-active, perpetually thinking of ways to improve his/her game. In other words, mentors are important but nothing replaces hard work and the daily endeavor for self-improvement. The author writes: "understand what the masters have done and then incorporate what you've learned into your own style." Pg 44 One more thing I like in the book is the author's appreciation of the good work. He emphasizes the importance of reaching out to other traders, talking to them, inviting them for lunch. The interaction with other traders can play a vital role in the trader's development. The book refers to many resourceful works of other traders. I will mention only Dr Brett Steenbarger for whom the author has a special appreciation. It's important to note that this book is more than trading techniques and strategies. It's about the path to success and success is more about hard work and preparation than luck. The trader's focus should be on daily self-improvement and not the outcome or results. "Everyday is an opportunity for continuing education." Pg 360 With this mindset, the results will come naturally. The daily challenge is how good can you be? It's the path to self-actualization. It's a very inspiring and empowering book Finally, I liked the quotes mentioned by the author especially the Bruce Lee quote "Use whatever works, and take it from wherever you can find it." Pg 17 It's very relevant. Bruce lee studied hundreds of fighting styles but he came up with his own style -his own PlayBook- his own fighting method. This idea is the gist of "The PlayBook". Traders have to be open to all "trading styles" and work diligently to find the setups that work best for them. The author writes: "My hope for you is that this book gives you the tools to build your trading PlayBook. It will help you frame your own unique PlayBook that best utilizes your strengths." Pg 52 Bottom line, the book is an excellent read and worth your intellectual energy and time. It will push you to think out of the box when it comes to trading and inspire you to have a positive attitude towards life in general.

Si estás entrando en el mundo del Trading sin duda este libro es para tí, era para un regalo y se ha quedado muy satisfecho y contento. Este libro sin duda es muy completo y le ha encantado.

Best book about trading. Teach you how to work to be the Best trader you can be. A lot of example of different trader that have great results thanks to their hard work

This seem to be a reprint . the original copy is more compact.