Best Blackhat Forum

Best Loser Wins is an intimate insight into one of the most prolific high-stake retail traders in the world. Tom Hougaard is the winner of multiple trading competitions and on one occasion traded £25,000 into more than £1 million over the course of a year.

While the average retail trader risks £10 per point in the underlying asset, Tom Hougaard frequently risks up to £3,500 per point. This risk exposure requires a mindset that is out of the ordinary. Normal thinking leads to normal results. For exceptional results, traders must think differently.

This book will guide and inspire you in ways no other trading book has. It is not about strategies and money management. It is about mind management. Tom Hougaard provides a unique and refreshingly personal account of how an ordinary trader elevated his game to incredible heights by focusing as much on his mental approach as on his technical analysis.

Best Loser Wins explains how you, by thinking differently when you are trading, can elevate your game from mediocre and sporadic, to excellent and consistent. No amount of technical analysis will ever do that for you.

Tom Hougaard says, “People don’t fail because they don’t know enough about technical analysis. They fail because they don’t understand what the markets are doing to their minds.” Best Loser Wins is an antidote to conventional and flawed thinking in trading, and a blueprint for a new belief system for traders who want to elevate their results to levels they never dreamed they could reach.

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If there are any BBHF members here -- who also are involved in "Trading" / investing their profits; I wish to give a completely BIASED plug for this book.

Trading is a very challenging profession. It will not and cannot ever be an "easy" one. Because you are subject to the reality of human over-reactions, and nature; and the current nuclear-threat-world environment.

I mailed out 13+ printed copies of the book to my (winning professional) trading buddies over the last year. None of them had not even heard of this book, because it comes from a "one off" kind of a guy, Tom Hougaard.

But, to a man - they all loved it.

Because every word was true.

Tom Hougaard is not selling anything to you. But he has discovered A WAY to accomplish the very difficult task of cutting (and accepting...) losses time-after-time (after time, after time and after time...)

and then: allowing profits that keep accruing without feeling the need to take them prematurely.

But Tom's actually not all that much of a "one-off" guy.

All successful traders appear to be "one-offs" because there are so few that enjoy any real success in the "trading" realm.


If I had 10 bucks for every comment I've heard from wanna-be traders, like; "I'd be just happy for $100 to $200/day. That's all I need. The market moves enough each day that $100 should be easy to get...,"--- I'd be able to retire with all my friends in a mansion near Mar-a-Lago.

It obviously doesn't work that way, because if it did -- there'd be no-one working at McDonalds. They'd all be trading.

Then why isn't it?

A great quote: "Making money in the markets is simple OVER TIME ---- but not ALL THE TIME."

This appears to be a day trading book.

It isn't.

Not at all.
It's a "mindset" book that works very well for people who insist on succeeding at trading.

---
Tom virtually never goes home with a position. The rest of the world's (winning) traders vary from Tom's ideal to their [own] ideals which involve longer hold times. Which cause longer fights with internal dialogues that encourage you to do things that are against your own (financial) self-interest. But effective just the same regardless of time-frame.

My average hold time for losers over the last 30+ years is ~ 1.5 days.
(79% of my trades)
My average hold time for winners over the last 30+ years is ~ 17 days.
(21% of trades)

(The majority of my net worth has come from trading. The seed money came from writing copy and product sales. The principles of the two enterprises are actually identical. Find a working method and invest your excess returns to make even more....)

I'll tell you one of the biggest secrets of the book. You can control the size of your losses (per/day) much easier than you can control the potential profits per/day. Find situations where there is greater potential for "your kind of profits"..., control your losses...; and don't stand in the way of the profits you're generating - and THE MAGIC begins to happen....

Read the book at least 2 times.

Have a great weekend!

AbeLincolnBart

thanks for sharing - rep for SS and Abe for the comment

Thanks Abe and of course StillStanding

Always look for your endorsements of anything "Market" related

Tessmac