The book, New Trader Rich Trader, was structured in a way that gives emphasis on the difference between winners and losers of the financial industry. With each chapter highlighting the opposites, it is a unique take on how market participants succeed and fail in the market. Going to the very title, it elucidates the approach that new traders employ compared to rich traders. For new traders, they go out to prove that much of what they are doing is right and would do no harm. Though this is their mindset, rich traders believe otherwise. These pairs mirror the ongoing problem that persists within the financial landscapes with only one bottom line: “seasoned practitioners know best.”
The overall narrative makes readers see through the lens of a trader who oftentimes gets caught in a pile of mistakes and eventually learning from those setbacks. Its instructive and humorous voice imparts knowledge about trading concepts, all while presenting these highly in and comprehensive and straightforward manner. Such an approach made it highly appealing to novice and intermediate level traders.
Concerns about trading psychology, risk management, and keys to exponential profits are all thoroughly discussed using the author’s self-made formula and personal insights. It also develops a sense of understanding about how one succeeds in a tight pursuit that only a few people aces. Overall, this book provides an easy-to-understand type of guide that highlights the things that must be avoided by new traders.
ABOUT THE AUTHOR
Steve Burns has been a stock market participant for 20 years and is consistently acing investments and trades in the stock markets. He published a total of seventeen books that discusses the concepts and practices of the field. He made a habit of reviewing trading and financial books in amazon.com. He appeared in several media, including Wall Street Journal, Trader’s Magazine, Chat with Traders, and Michael Cover, mainly from his investing and trading expertise.
TABLE OF CONTENTS
Part One- Psychology
Part Two- Risks
Part Three- Methodology
Appendix A- Resources
Appendix B- Author Trading/ investing Results 2003-2010
Appendix C- My Recommendations: The Top Twenty Trading Books
Appendix D- My Top Ten Book Recommendations for Success in Life and Trading
About the Author