My Trading Bible

Thank you, Mr. Ritchie, for sharing your insights with us. I first read about you in the Market Wizards more than twenty years ago. I knew you wrote several books before this one but this is the first of your books I read and I love it ! How many great traders also write and write as well as you ? I could only count in one hand. I was totally fascinated by the Ritchie Rule and the graphs in Chapter 4 and 5. It is an eye opener. For me, it is the ninth wonder of the trading world after compound interest. I knew both rule and graphs did not take commissions and slippery into consideration so I wrote a little program to see how a $10 round turn commission will affect the result. See attached screen shot. An excellent book from an extraordinary man.

I've read over a 150 books on trading, and I can say that this book isn't just simplistic in its interpretation but it's also invaluable in terms of the information being passed on. Mark Ritchie is blunt, to the point, and raw which may make you want to put the book down or even throw it in a trash can at certain points but for anyone looking to be a serious trader, it's that very bluntness that one should appreciate as it provides a certain clarity that one rarely gets from other books on trading and other resources. I'll say that this book is a hidden gem, it is invaluable both as a tool for survival in the world of trading, and as a stern warning for those who are looking to get into trading to save yourself some money and look elsewhere If you can't adhere to the principals that make a trader profitable.

Given the low cost of this book, any one idea that aided my trading would have made the book very much worth reading. Little did I ever think the one idea (the Ritchie Rule) found in this book would be the closest thing to the Holy Grail that I'll ever find. I had developed numerous trading systems over the years but was reluctant to trade them because I knew that psychologically I would be unable to handle the large drawdowns that would occasionally be seen (and in my case, those would be likely to come right at the start). Backtesting those same systems with the RR made the systems even more profitable while making the drawdowns psychologically and financially bearable. While some may be disappointed that Mr .Ritchie does not share his own entry/exit criteria, he does offer some suggestions of other books which contain trading systems. The most important takeaway, however, is that the best system in the world can bust your account if you trade it incorrectly, and a mediocre trading system can be quite profitable if you trade it correctly. This book shows you how to trade them correctly.

My Trading Bible should be a required reading before opening a trading account! It's not often that you have one of the original "Market Wizards" to pen a book and then take it to the next level to build a phone APP that literally shows the "How and Why" of trading success. Make no mistake, trading is no easy... for one simple reason: "The human mind is not programmed to CUT LOSSES SHORT and LET PROFITS RUN", this is the biggest battle a trader will face in becoming a profitable trader. I've been trading over 33 years and after 3 decades in the trading business, I don't think this book works... I KNOW THIS BOOK WORKS. You are NOT going to see bar chart patterns and indicators or any other BS in this book because that's not what makes money. What you are going to see is charts, but not the kind you are used to looking at and these are charts are where the money is hidden (in plain sight). The trading vendor industry (books, software, systems) is really like a "Three Ring Circus Act" they need you to be stupid to sell you their "latest and greatest mouse trap. Not all vendors are hustlers and snake oil salesmen, but a good 90% of them will do nothing more than waste your TIME and MONEY, this book falls in the 10% category of what really works. My point is this, The book: "My Trading Bible" will show you why "Entry Points" on a chart are only as good as the trader who executes it, so if your trading signals are being generated by a "failed trader" who designed the software signals, then what does that tell you? Chapter Four: "The Holy Grail" is where you will finally see what has been eluding you for months, years or even decades. In trading, it's not how much you make, it's what you keep. Let me phrase this another way for you: It’s not whether you’re right or wrong on your trades, but how much money you make when you’re right versus how much you lose when you’re wrong. You need to first learn how to BALANCE yourself with your losing trades and your risk management... until you do this you will continue to lose your shirt at this game... I know, I've spent years having to UNLEARN what does NOT work in trading. In order to be a success in trading you must have and Edge + Position Sizing ( a way to control the downside). If you really want to get on the RIGHT path read: "May Trading Bible" and then get the APP for your phone.

This book belongs on every trader's book shelf and must be read and re-read. The emphasis on RR formula is great and you won't find too many books out there that start with risk of ruin of the bat! The book is rooted in realities of markets, draw downs...margin calls etc...The sense of humor is also great! The emphasis on spirituality and in this case Christianity is good too. One would need a solid ground to stand on when $$$ hits the fan which will for sure if one is trading! Planning on reading it few more times. Wish the RR app was also available on Android. I put it in to excel and will use it that way! Thanks

I purchased this book in the hopes of finding a few pearls of wisdom to help with my investing. By the time I finished the first 56 pages (up through chapter 3) I had gleaned [paraphrasing here] "don't trade with the crowd." Fine. Chapter 1, "character matters." Chapter 2, "there's no level playing field." I kept slogging through his rambling prose and bunny trails and thinking "where are we going?" to Chapter 4. It was supposedly a key. "your profit margin is affected more by your money management than by anything else." well...sure. In chapter 5, (I had high hopes that chapter 5 might justify spending ANY money on this book) he gives us "the Ritchie rule" which is a little mathematical turd intended to help you to maximize profits and protect your money during drawdowns. Basically...the point of Ch 5 is "just keep your bet size small--really small." And...that.is.it. There are one or two more chapters I won't bother summarizing. His attempts at summarizing what the Bible says about investing at the end of each chapter are likewise disappointing. I strongly urge you to pass on this one. Get something by O'Neil, Minervini, "The Lifecycle Trade" if you want to get into IPOs, Stan Weinstein's book "Secrets for Profiting in Bull and Bear Markets" is excellent. These books are better than this one in that no where does Ritchie describe how to find good stocks, how to discern good entries and exits. He just says "practice good money management"...and really doesn't describe that at all well either! I'm so sad. This book is going right in the garbage as soon as I get up. Hopefully I can spare some of you a terrible read. Good luck out there

Weird, simply a weird trading book. Yes, there are some pearls of wisdom BUT it gets weird, like a carnival ride, in between those nuggets. I will say this, I’ve read a ton of trading books and this is like none other... is that a good thing?

Trade management is very import for investors and traders. Many error by oversizing their trades. Mark Andrew Ritchie uses a version of Kelly's criterion. Some will get put off by his Christian Fundamentalist Background. If a non-Christian, READ those chapters as he packs a lot of trading wisdom into those chapters and not take his advice to go to chapter 4.

If you want to become day trader, know how to manage your portfolio and keep money tight, this book is for you. However there is considerable amount of religion related stuff, about 30% of the book. The system itself is easy to understand but you have to actively manage your day trades it is not buy and hold approach.

acabei de abrir o livro para ler e a cada pagina passada a pagina se solta. Conteudo mto interessante mas qualidade pessima, paginas literalmente caindo.

By far THE best book to teach traders the importance of money management. Chapters four and five contain the crux. Ritchie also recommends a few other books and one entry/exit technique he uses. The best thing about this book is that it is probably the only one that helps you develop a truly intuitive understanding of position sizing. Definitely worth the money for that reason alone. The author could have used a good editor though.

Not a trader's 'must have' book but it at least does cover some very important aspects namely, money management and basic psychology of trading. If you're not a Christian then this book isn't really value for money but at least the author does separate the religion. Writing about the real downsides of trading, the odds stacked against the wannabe jet-setting millionaire isn't popular but it if helps prevent one suicide then it's worthy. If you're a Christian it's probably worthy of 4 stars. If you're not, then there's better books on both money management and trader psychology.

Book is not worth more than quarter tha selling price here at Amazon.