Phantom of the Pits

First of all, this is not a book in traditional sense, but a interview with a pit trader who wanted to be called Phantom. Best of all, it is free. Do a search on google on "Phantom of the Pits" to download the PDF file.

Review:

Phantm who has been trading for 30+ years and now wants to give back to other traders on his view on what is a better way to trade, especially for small traders.

He gave out his 3 trading rules that he follows and those interviews reveal his market insights.

Here are some questions answered by Phantom's insights.
1. what is the Important aspect of trading?

2. you need 2 trading plan for entries, and why do you need 2.

3. His view on daytrading, and how to apply his rules.

4. Many market condition, such as, how a fund bid a market so they can sell the market. what should you do.

5. Is market always correct? not so by Phantom.


when he gave out his rules, he went into great details on why he use them, the psychology behind these rules. and the benefit of his rules. Better yet, his rules can be a great enhencement to any trading system.

If you are new to trading or struggle with trading. The read this book as many as it take for you to understand the contain totally.

If you are a experience trader, then his insight would enhence how you approach market.


there are many others, too many for me to list it out. I am very sure every trader can find somethings useful toward his trading.

I read it once about 18 month ago, and now re-read it again, and wow I am totally overwhelm. so much good info in this book, I only wish I had internalized some of his insights.

The difference between now and then was that at then, I just read it and did not take time to sit down and digest the contains and think them over, now with 2nd read, and carefully thinking his insights over, I truely appreciate Phantom's insights and his willingness to share.