Rating: 
Summary: Technical techniques may be dated, but not the psychology
Review: This book is almost as interesting as the Market Wizard books. You may not be able to apply some of the technical techniques that the interviewees used anymore, but the psychological insights they give will always be applicable. If you're hooked on trader biographies and their approach to the market, as well as short-term trading, I think you'll enjoy this book. Like the Wizards books it hammers in the importance of discipline. Most of the subjects trade a little differently, but they all learned risk parameters early on. Granted, we don't know how they did outside of a bull market, but the point was that they did far better than the norm during the market of their time. And how you do in the present in relationship to the general market is what measures your performance whether you're a day trader or a mutual fund manager.I'm more of a swing/intermediate-term trader, but I found some of the technical and psychological insights helpful in picking intraday entry/exit points. I paid $.90 for this book used - that's right, 90 cents - and I'd have to say it's the best book bargain I've ever purchased. I had a hard time putting it down.
Rating:
Summary: The last chapter on money management is the best
Review: This book is the kind you can read and re-read a couple of times as you start a new discipline and always understand more. There are many startegies and the authors (interviewrs) make sure that a number of very basic issues are highlighted in their conversations with traders: Discipline, using relative-strength analysis, and following you're own rules, and trading on rules and disciplined interpretation of the markets instead of trading on hope and fear.
Trading is hard work. And it was deadly too so much on-line day traders in the past few years only because they left the "work" out... If the market went up and up, you could only buy low and sell high. Perhaps the main teaching could be summed in this way: Its not really buy low and sell high, but rather, buy strong stocks and sell weak stocks, which means quite different things at the most important times... The difference they would seem to argue is this: "buy low, sell high" works on 20-20 vision. Buy strong, sell weak" is a tool and a trading strategy that can be used very well as one faces the trading decision.
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