Jay's Unofficial BabyPips Book Club

I just read your idea I think it’s great what chapter is everyone on

Hi Jay, this is a great idea. count me in please…

Ok, when we start

Hi,
I got the book and ready to get started, please email me when it begins.

Thank you

I’ve no doubt about that, but I’m still looking to create a trading plan, so I am kinda searching for more practical insights.
But nevertheless this is a great read, and I’ll probably re-read it when I’m in another phase in my trading.

Great idea. I am a newbie but really anxious to learn and can’t think of a better way. Has this group started with your first book review yet yet? Is it possible to still participate - so how?

I will have to catch up with this. When I get back into town from Connecticut probably after the new year. Hope to stay in touch on here I mean after all my 3500 dollar tab for the hilton better come with something as far as wifi. But if not I would like to say happy holidays and take a moment to say thanks Jay and ICT and many others on here. I really like the direction babypips has gone in the last little while thanks to you all and other members on here. It has been a great and rewarding ride this year. This week has sucked 6 trades all losers 5% of account whiped but I will still finish out this year with a bang and a smile thanks to people on here guiding me. I could not do it with out babypips. However I got to make that money and there is alot to be made so away I go in the morning. Family comes first over trading they must be covered at all times. Good luck to all if I dont talk to you again happy holidays (pretty sure I will you cant get rid of me that easy). Must close out my last loser and pack up laptop now good night.

cool beanz

Yeah definitely count me in on this ! So if you guys are on chapter 2 already im guessing i’ll be up to speed by Sunday/Monday. Keep us informed of when the next chapter begins !

Ok, please, don´t let this project die.

When do we begin.

Hey… this sounds like a great idea…this book club thing. Too bad no one is keeping in going. Gee…wonder who started it… i should tell that person what a crappy job their doing.

Oh…hmm…errm… yes, anyway.

I KNEW i shouldn’t have started this until after the holidays!

Ok guys. It’s on. Since i’ve been so terribly delayed with this, lets do this. I’m going to start posting up some comments on the first chapter of market wizards…but I’ll give everyone until January 15th to have read it.

Then, we’ll discuss “formally” on this thread, and I will also schedule 1 or 2 specific times to meet in the BP chatroom.

So…without further ado… we’re going to start with:

[B]MARKET WIZARDS: Part 1 - Michael Marcus: Blighting Never Strikes Twice.[/B]

Now…some of you may have gotten one of the sequal books: the NEW market wizards. Or, the other one… STOCK market wizards. The book we are starting with is the original MARKET WIZARDS.

If your first chapter (first interview…whatever) isn’t about Michael Marcus…you have the wrong book.

I will open with this. Of every book i’ve ever read, nothing has changed my life as much as this book did. I mean every single word of that. Ok, the bible wins. But this is a close 2nd. I am extremely excited to share this all with you, and also have all of us share with each other about the immense value that can be gotten out of market wizards.

It is my trading bible. I’ve read it proably close to 20 times…and I use chapters as reference points now to develop my self as a trader.

I can’t say enough good about this book. Lets just go from here.

First of all…what was your favorite part of this interview with michael marcus? just tell us what you found most interesting, or was your favorite part of this.

I’ll respond on this myself tomorrow!

REALLY! :slight_smile:

Jay

P.S. ICT, I’ve come out of “hiding”, tagged safe. Playtime/hide and seek is over… now back to work! And as usual, i’d be happy to have you making the occassional comment or appearance here…particularly on this book :slight_smile:

Ok so now i have finished half of the book, and u telling me its the wrong one :smiley: im gona dskoadkwoakdwoa YOU!!!

Yes. its is wrong. you are dumb! :slight_smile:

j/k!

I thought this MIGHT happen… so i wanted to be crystal clear on this in the post above. It is not the easiest one to find online in a PDF… the new market wizards and stock market wizards is fairly easy…but not the original “Market Wizards”. However, if you send me a PM (PM ONLY!) and ask, I may be able to help you with some info regarding PDF’s and this original “market wizards” book.

In the meantime…i’m gonna look up some stuff on running a book club, and kick off the next post with whatever I find, as welll as start the discussion on my favorite part.

On a side note… I really feel silly now, but for some reason this little thread here makes me giddy! I absolutely LOVE this series, and all 3 books are classics, and we will be doing them all (so don’t worry Kuzia…your efforts are not in vain!).

If I had to tell you all what my trading “bible” is… it would be this series. hands down. no mistake about about it. Without market wizards, there is a good chance I would not be trading today. All the books are that big of a deal to me. So i’m just thrilled to be discussing them!

Jay

I think this is the correct book Market Wizards Book.PDF - 4shared.com - document sharing - download - Falkor Smile
It’s free to download…might have to wait 20 secs before it let’s you download…

I’ll try to confirm this. I’ve bought the book three times now (loaning it away is sometimes the same as giving it away)

but the most recent pruchase was the hardbound version. more than once my wife has found me sleeping on it… in other words, I go for the physical book, nothing else will do when I want to re-read something everywhere I go.

But… wil confirm shortly on this link…

OH BOY! There it is!

Ok boys and girls… no excuses now. Get it however you want, and read it! It’s the best!

I’ll open the discussion tonight…still looking for more info on book clubbing.

Thanks Sweet… this is really a big help i’m sure.

Jay

Sweeet Peepzus at LAST!!!

Here are the opening questions… feel free to ask your own :slight_smile:

•What did you find surprising about the facts introduced in this book?
•How has reading this book changed your opinion of a certain person or topic?
•Does the author present information in a way that is interesting and insightful, and if so, how does he or she achieve this?
•If the author is writing on a debatable issue, does he or she give proper consideration to all sides the debate? Does he or she seem to have a bias?
•How has the book increased your interest in the subject matter?

LOTS of things… this was an incredible chapter to open this book with, good job Jack!

I was surprised to read how bad Marcus was at investing in real estate, considering he had made over $100 million in
trading the markets. It just goes to show that a good, sophisticated business person may be excellent in one
arena, but mentally “lazy” in another, and therefore make some really big blunders. I would have thought he would have been just as shrewd in all areas of investement, but obviously not.

I was also surprised once upon a time when I read how the government tried to keep the cost of plywood down, that the
market was able to IGNORE this completely…and in the end, the plywood market just exploded up.

It makes me wonder why the BOJ even tries to do thsi with the yen… and actually gave me some considerable insight into when there are massive forces in the market trying to keep things down, and yet they go up… s**t… just buy the darn thing. it’s ignoring everything bad…must be MUCH stronger than we think. This lesson is repeated in diferent ways throughout these interviews as well.

•How has reading this book changed your opinion of a certain person or topic?

I opened up to trading other markets besides just stocks and stock options. milllions made trading cocoa and plywood? cool!
in doing so…i learned they are all the same. a market is a market is a market, in many ways.

•Does the author present information in a way that is interesting and insightful, and if so, how does he or she achieve this?

Absolutly! nothing more exciting and interesting to me than to hear how someone learns from scratch how to make $100 million in the markets, and then DOES it.

•How has the book increased your interest in the subject matter?

Incredibly so. Before I read this, I did not know it was possible to consistently make more than 20% per year…at best.

After reading this, I realized that making returns over 100% per year were absolutly possible…even with massive amounts of money.

I would like to hear other peoples thoughts on this…and answer questions/comments on my own! :slight_smile:

Jay

Here is something in particular I thought was incredibly insightful to know…basically, when a market is expected to do one thing…but instead fails to do it… watch out. it’s probably going the other way:

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hmm…makes me wonder when this point will be reached in the euro. I keep going long. I keep making money. but I woujld like to make it BIG on the massive retracement. At some point… everyone who is interested in acting on the euro short will have done so… makes one think at any rate :wink:

Jay