Clearly written and therefore easy to read, Sperando's book is well regarded in the trading business. I read it some time ago, but after reading many books on trading I now realize that Sperandeo's book belongs among the best books on trading ever written. It does have faults, of course, but they are minor. For example, the author makes several forays into personal philosophy that might have been better omitted. Nevertheless Mr. Sperandeo lays out the basics of trading in a very clear style. This is most definitely a book that should be read by all neophytes in the trading world. I found his instructions for drawing trend lines to be the best I have ever seen in print. His description of classic set-ups based on trend line breaks is also among the best I have seen. Though this book was written years ago, it has stood the test of time. The basic principles it lays down are as valid today as when first published. As someone who has been trading a long while now, I can not recommend this book too highly to anyone beginning to trade. Even those who have been trading a few years will find useful material and perhaps see things in a new light after reading Sperandeo's very nice book. Thank you Mr. Sperandeo for giving us such an honest, no gimmicks, and worthwhile contribution to the trading literature.

This book has two sections: trading knowlege and psychology (emotional discipline). Trader Vic covered 4 topics in its essentials in these two sections: technical analysis, risk management/trading rules, basic economics, and trading psychology. I consider the value of each section many times the price of the book.

1. Technical Analysis: discussing DOW theory, trends, and his 3 criteria in determining trend reversal and Rule 2b, straight forward, clearly explained in charts and powerful.

2. Risk management/trading rules: Trader Vic discussed his unique approach and application using statistical analysis of historical data in assessing and managing risk. A short summary of 19 trading rules you hear or read before.

3. Basic economics: an introduction of Austrian School of Economics and its theory on boom and bust.

4. Trading psychology: I consider this part most valuable and pricelss. Trader Vic sythesized many psychological principles you probably read about in various self-help or psychology books. I cannot possibly do him justice by describing this section from my own perspective, you have to read it yourself and find out, but I can promise you that it's worth everything and it will be life changing. If I had known this book what I know now, I would stop everything to just study this section and apply it.

This book is truly a gift to new traders from a brilliant mind!