By Zachary Storella, CountingPips.com
Today I would like to highlight a new trading book that recently hit the marketplace, it is called Momo Traders and has been compared to the fantastic Market Wizards books by Jack Schwager. It is a book that spotlights strategies and tips from ten top market traders.
Brady Dahl, the author of Momo Traders, has been a trader since 2008 and a writer who is best known for his work on the first four seasons of the FX hit show Sons of Anarchy.
Mr. Dahl has been kind enough to provide us with a brief introduction and description of the book below.
By Brady Dahl
Momo Traders (http://www.MomoTraders.com) features extensive interviews with ten top day traders and swing traders who find stocks that move and capitalize on that momentum. They began where you are and now make a great living—some even becoming rich. They weren’t given a leg up, they didn’t start with millions, and they don’t manage billion-dollar hedge funds. They battle the market day in and day out just like you—and win!
Free Reports:
Hear in their own words, how they got started, what strategies they employ, how they deal with losing streaks, what setups are most profitable, how they overcome blowups, what tools they use, how they enter trades, how they exit trades, how they manage risk, how they maintain success, and much, much more.
From the swing-set builder trading with credit card advances to the penny-stock trader outwitting market makers to the accountant funding trading accounts with cash his employer gave him to pay for his MBA, these Momo Traders have figured out what it takes to beat the market.
Preface
So why the book? I asked myself that same question after spending the better part of a year arranging, transcribing, and editing over 30 hours of interviews. Why? Why! But there’s a good reason—I’m a day trader. I have been more or less since 2008. I’ve had good years and I’ve had bad. I’ve read dozens of books and hundreds of articles about the biggest, most famous traders in the world. Most of them use some kind of a system and trade commodities or futures. They hold trades for months or years. They have dozens of assistants. They’re on TV regularly. None of it was relatable to my situation.
I wanted to know more about traders who were successful at what I did—sitting in a home office, alone in front of the monitors, trying to eke out a living trading stocks. I wanted to know how the elite day traders I knew from social media got to be so successful. Fortunately for me, the 10 interviewed here are such charitable people, after learning a portion of the proceeds would go to Traders4ACause, they readily agreed to my prodding.
Some of them have been successful for more than a decade, others for only a few years, but they have all somehow accomplished what the rest of us strive to do each day—trade for a living. They wake up with a desire to seek out momentum—stocks about to have momentum, stocks currently with momentum, or stocks where the momentum has recently died. These traders know how to take advantage of, and profit handsomely from, “momo” in a myriad of ways. So in an effort to find out how they did it, I pried into as many aspects of their trading as they would allow before being respectfully told to get lost.
I asked how they were raised, why they got interested in the market, how they got started trading, what strategies they use, which of their setups are the most profitable, how they enter trades, how they exit, how they protect their capital and minimize risk, how they prepare, how they approach each open, and how they plan to stay so successful. I even wanted the mundane details of what their trade desks look like, what tools they use, which accounts and which platforms, because like a carpenter wouldn’t show up without a hammer, you shouldn’t trade without the right tools.
We sometimes fall into the fallacy that people who are great at what they do somehow had a leg up or were given a head start, but most of the time that’s just untrue. Each trader in this book has had a journey that is different yet completely normal enough to be replicated by you. Believe it or not, their origins and subsequent successes are within your realm of attainability.
So every time you nod your head in agreement, every time you come to a personal realization, every time you learn something new from these great traders, dog-ear the page, highlight the words, and scribble in the margins. It’s time to deface the hell out of this book in your pursuit of becoming a better trader…
Brady Dahl
“…one of the most practical and real trading books I’ve encountered in a long time… It’s refreshing to hear real traders talk candidly about their paths to success.”
— Brett Steenbarger, author of The Daily Trading Coach
“I have read hundreds of trading books, and Momo Traders is a must-read. Great questions. Answers that provoke thinking and stimulate endless what-ifs. So good in fact that it will be a key reading resource in our educational offerings.”
— Terry Liberman, ExceptionalTrader.com
“Finished up Momo Traders over the weekend… a must read for any trader. AWESOME!!! Will be rereading again soon!”
— @Trnr395
“Thoroughly enjoyed Momo Traders, on par with Market Wizards for insight and ease of read.”
— @HodgsonCapital
“I think I highlighted every page of Momo Traders. The inside of the book is now purely yellow with highlights. Great job!!”
— @trader_MD
“Just finished second read thru of Momo Traders—I would suggest anyone serious about trading grab a copy of this book. Worth every penny!”
— @crawfish_poboy
“A must read for traders at any level. I’m reading it for the second time.”
— @zooyzeh
About the Author:
Brady Dahl is a trader, entrepreneur, and writer best known for his work on the first four seasons of the FX hit show Sons of Anarchy. Trading since 2008, he is fascinated by the speed of the industry and the voracity of its players. He currently resides in Minnesota, where he can be found raising a family, writing books, film and television, staring at stock charts, or hiding at the lake. Connect at BradyDahl.com or @BradyTheDahl