Best Loser Wins: Why Normal Thinking Never Wins the Trading Game – written by a high-stake day trader Paperback – August 16, 2022

I started to listen to Tom on YouTube and his book because I too am where Tom has been. I see, embrace, and am working toward developing my trading mindset to accept loses, trust myself and the markets , cultivate patience and confidence. In short, to focus more on what I can control (my mind) than what I can’t. Thank you Tom for being so honest, humble, and willing to share your journey to success.

This is a great book, I got through so far half of this book within 2 days, given my busy life, I can only sit and read for about less than an hour or two per day. Enjoyed the book so far, and I think anyone who is interested in trading, should read this book, it gives more insight as to the psyche of traders, not much to how to trade, you will need a different book for that. This will however get you in the right mindset of how to be a good trader. Highly recommended.

New Review:I was pretty upset as I would find myself consistently posting some wins, then making huge counter-market bets and blew threw account after account, a very important sum of money to me. I was a terrible loser, and I found that the more I lost, I would do something dumber the next time around. I knew nothing about trading except that if I bought some calls and some puts, if I made money on the in between, I would do okay. I really messed myself up when, in misinterpreting Tom's message from the book, and finding myself never being able to hit that magic homerun, to try my hand at potentially turning a five figure some into a six figure sum in one trade, and blew accounts up several times.Digging deeper into it, I have found that Tom's message is incredibly useful for all aspiring day traders. Maybe I missed it here but there is a technique to what he is suggesting. It is not to mean, make 2k, then add another 10k or 20k of risk on the trade, to potentially make even more, when your risk tolerance was originally 1k or 2k. Here I am humbled and my risk per trade is much smaller than that, for now. What he suggests is to keep adding to the trade without actually incurring more risk at all. There is certainly some skill and understanding and practice to do this, but it is in fact the only way to compound an original trade that might turn out to be a runner rather than forcing yourself to be perfect on just one trade trying to catch a low and a high, which is incredibly stressful and easy to beat yourself up over.Tom has some amazing content on his YouTube website which will provide some detail to this book. I would not take the title literally and to keep adding like crazy with no restraint to your position sizing and risk the farm to try to win back a horse. That is what I was essentially doing in my frustrations with the market, and that is not the way to approach it at all. At least, however, all people if they can pick something up from Tom is learning how to compound those winners without adding more and more risk, and he does go into some details about that. If I personally can adopt this and not risk half of my account which is a meaningful sum of money to me, or my entire account on one trade, I know I will be in a better place as a trader especially if all I am risking is more profits.Old Review:Tom has an interesting idea. If you have profit, keep adding. Then he has charts of mistakes of his trades. Well, adding without a max loss is exactly how people blow up their accounts, statistically on that manner. Build a huge position by adding to it and be wrong. It only takes one time. I wouldn’t be surprised if he started at that baseline to attract a client base then advise to do something completely different.

Author focuses on trading psychology. Good for all traders to know thyself. Good luck to all that read this book. Trading isn’t easy, yet can be very rewarding once you’ve become a profitable trader.

It’s a great read. It does give some mental concepts that make you think this is why I am not profitable. My 4 star rate is that I had to search what he trades specifically outside the book to understand more deeply his concepts. I recommend it for index traders, Future traders, maybe forex. Individual stocks and options trading unless swing trading will never have the ability to perform under his concept due to the limited movement. If you buy this book search a bit of who he is, what he trades, and ideas; so you can fully understand the philosophy inside the book.

Turns your thinking of risk upside down. I learned a lot about managing my emotions while trading. You wont be disapointed.

Excelente libro, se adentra en el tema de la mentalidad en el trading lo cual es muy valioso en esta disciplina