The Author has some really vital information for you to understand, but the manner is which it is presented for you to consume is extremely slow. He takes you through a process of comparing pyschological mistakes to your own trading experiences, trading style, and trading plan and discusses psychologically "why" you do certain things.
Many times through the book, I found myself laughing at the psycho-babble he professes. In my humble opinion, many ideas he postulates on are complete rubbish. Some of his logic is ..uuhh.. weak. For instance he goes into this reasoning of how ideas are energy, because they are intangible and some other reasons, and therefore subject to laws of energy as defined by Einstien. Whatever. Again IMHO, this kind of stuff is irrelevant.
Unfortunately, why he is postulating in this manner is important and therin lies the value of this book. You do have expectations that you have learned throughout your lifetime and they affect you actions. When you are unaware, these expectations or learnings rise to the surface, often in ways that are harmful to traders.
In general, he is trying to teach you to trade without fear but with discipline. These can be conflicting forces, and the Author guides you by telling you where troublesome feelings come from, how to understand them, and finally how to control them.
My recommendation: Read the whole book, look past the psycho-babble, and follow the lessons he is teaching. If you have not yet performed his exercise at the end of the book - do it. If you are serious about trading you will benefit by it.
Who am i? I have been trading actively for 3 years, most recently off 1 hour charts for trades lasting hours or days. I have progressed to this from trading daily charts. I have built a trading method with a strong positive expectancy. However my returns have been flat since I started trading, 3 years running.
This book has immediately given me confidence, as it has reinforced ideas and methods that I have already adopted through my education. My results have been immediate and this book seems to be just the push that I needed to "open up" my trading. I am not afraid of entering a trade, and more importantly I am no longer afraid to exit a trade either.
Jeff Packard
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