Eye Opening
I've just finished "Unholy Grails" by Nick Radge which gets down to the grass roots of what is required to become a successful trader/investor. In other words how to achieve a positive expectancy which is something that very few starting out on this journey ever achieve. There is no need to read between the lines like in so many trading books with clear instruction provided at each step of the process to becoming a profitable trader.
Much of the book focuses on momentum strategies with several methods studied accompanied with comments on how and why each system works. The strategies are also statistically backtested giving a clear appreciation to how they performed in the past with suggestions on how they could be improved upon. Nick Radge also takes a look at the emotional side of trading and how a systematic approach can alleviate this problem to a large extent. Drawdown is the nemesis of many within the markets at the moment which is a subject that is also discussed. Logical suggestions are provided in regard to overcoming the mental hurdles.
I am not a great advocate of interviews at the end of books though in this case the knowledge gained makes it well worthwhile. Several traders/investors discuss their strategies with much emphasis on the timeframe used which in itself is somewhat of an eye opener.
In summary, an excellent book that is an easy read making it suitable for both those starting out in the markets as well as the more seasoned trader.
