futures

When I started reading this book I was disappointed. The background chapters that attempt to teach Technical Analysis for example are covered somewhat better in other books (see John Murphy).

But the treasure of this awesome book is in the examples and stories in the later chapters. I wish I had read this book a couple of years ago. From a number of books that I have read, it talks quite a bit about short selling and risk. In my opinion .. it is a five star book ..

I have been an investment professional for over 20 years. I have read dozens of books--most long before the flood of "you to can be a super trader" trash of the 1990s. This is the best one. Mamis is an original and independent thinker. The book deals with psychology, tactics, technical indicators. His "How to Buy" is not nearly as good.

If you invest, wish you had a mentor on the trading floor, but don't know anyone who works on the exchange, you should read this book. Mamis discusses not only market indicators so you can better time buys and sells, but explains what happens on the trading floor and how the professionals -- the "they" many investors refer to grudgingly -- benefit from herd psychology. After reading this you will better understand why the "average investor" is more likely to lose than win, and why many people, in fact, subconsciously prefer to lose. Mamis has an easy style which reflects his many years of investing experience -- it is not a dry, academic discusson of the market.

Along with "Reminiscences of a Stock Operator" and a couple of others, this is one of the best and most informative books I've read about the market.