Review of Murray Ruggerio Book

Discussion in 'Educational Resources' started by carlking, Nov 1, 2010.

  1. carlking


    Hi, i am a retired futures trader. I just published a review of a Murray A. Ruggiero, Jr. and Adrienne Laris Toghraie book. I would like to get several comments from people to see if this kind of a review is of use to you. If so i will continue in this manner, if not i will try to change in a manner that is more beneficial to you, or just abandon it.
  2. Baron

    Baron ET Founder

    Yes, no need to ask. Just post it.
  3. Pekelo


  4. carlking


    Thanks Baron, it is a pretty long post so i will just give the URL:
    (Edited by Joe: Please do not post links to blogs, I have copied and pasted the text below. Thanks)

    Traders’ Secrets, a review of a financial trading book

    Traders’ Secrets
    “Psychological & Technical Analysis – Real People Becoming Successful Traders”

    By Murray A. Ruggiero, Jr. and Adrienne Laris Toghraie
    Published in 1999 by Ruggiero Press and On Target Press

    The authors present interviews by 14 traders. Ruggiero attempts to solicit and and analyze their trading strategies. Toghraie attempts to understand their psychological background and current psychological stance that contributes to their success. This is a very successful book and provides valuable additions to a traders arsenal.

    The first interview is with Yousef Hashmi, “The Canadian Don Quixote – How a successful broker, money manager and private trader used psychology to trade his account from $100 thousand to %3 million in 1998″

    Yousef’s basic approach is the Investors’ Business Daily CANSLIM approach. Of course this approach worked very well in 1998, but it is a good approach to the markets in any case.

    Next is Glenn Ring, “A jack of all traders – How a highly regarded analyst, teacher, writer and mentor to farmers overcame great adversity to maintain himself as a trader over a long career”.

    Glenn is a futures trader who looks for cycles and seasonal analysis. He also does intermarket analysis to find leading indicators.

    Next is Herb Drechsler, “Never too old – How a late-bloomer ex-mining executive and college professor on this third career became a successful full-time money manager and trader”.

    Herb carefully watches and trades by common technical indicators such as MACD (Moving Average Convergence Divergence), RSI, trading market gaps and going with current market conditions.

    Next is Sheldon Knight, “A knight in technical armor – How an ex-physicist used his scientific training to increase $75,000 to 1.2 million 6 months before Larry Williams made his reputation for a similar feat”.

    Sheldon used a technical analysis approach (explained in the book) based on volatility breakouts to make over $1,000,000 in six months.

    Next is Stelios Christakos, “A gifted Greek – How a computer wizard overcame his technologically limited environment to become a successful money manager and teacher”.

    Stelios does futures trading based largely on technical analysis. He trades in the direction of the trend and uses “a momentum retracement as his trading indicator”. He provided some annotated charts for the book with detailed comments explaining his trades.

    Next is Bob Watson, “The Zen trading warrior – How a ‘possibility’ thinker combined intellectual, spiritual and physical disciplines to create a high percentage return on his investment capital”.

    Bob is a meditator. His trading approach was influenced by the famous billionaire futures trader George Soros. He trades market extremes like Soros ex-partner Jimmy Rogers. He also uses an approach based on George Douglass Taylor’s 1950 book “The Book Method”.

    Next is Ed Pomeranz, “Caviar to schnitzel – how an immigrant created great wealth before the age of 20 in the import/export business and went on to be one of Europe’s top money managers before the age of 30″.

    Ed uses a trend following approach for trading futures that is similar to the famous Turtle Traders method.

    Next is Neal Dietz, “The ‘Systems Man’ – How an innovative restaurateur used this ability to make mucho enchiladas in the markets as a broker and money manager”.

    Neal is a stock and options trader. Neal buys when the market is going up and selects stocks with good chart patterns.

    Next is John Fritz, “Born to be special – How a poor son of immigrants applied his training as a physicist to discover wealth in the markets”.

    John uses multiple moving average cross overs for trading futures markets. He says, “I think of myself as a long-term, purely technical trader who trades on changes in fundamental events.”

    Next is Alta Wood, “Living the real bull market – How a poor widowed rancher’s wife invested her way to an affluent retirement”.

    Alta Wood bought stocks in what she believed were good companies. She invested in them in good times and bad and held on for the long term.

    Next is Al Gerebizza, “His own genie in a bottle – How he used motivation to penetrate the institutional market and build a lucrative money management business”.

    Al does futures trading based on technical indicators. He says he uses Gann’s time and price relationship analysis. You can find Gann’s discussion of this in his book “How to Make Profits in Commodities”. If you can make sense out of Gann’s work, all i can say is good for you!

    Next is Mike Battle, “Sticking to his guns – How a young trader stands on his principles to live a balanced life and still manages to average 100 – 200% a year in returns”.

    Mike uses J. Peter Steidlmayer’s Market Profile analysis. Mike (like George Soros, Jimmy Rogers and the Turtle Traders) believes it is necessary to trade several markets.

    Next is Scott A. Krieger, “West meets East – How he used his business savvy, world travel experience and spiritual insight to become an exceptional trader”.

    Scott does futures trading with Keltner Channels and contributed several annotated charts to illustrate his methodology, which is a modification of Keltner Channels.

    Next is Tom Bierovic, “On the road again – How a schoolteacher became an internationally recognized trading teacher and prolific systems developer”.

    Tom uses a technical analysis approach for futures and commodities trading. He uses chart patterns, exponential moving averages, MACD, RSI and Richard Dunnigan’s momentum retracement from his book “New Blueprints for Gains in stocks and Grain & One Way Formula for Trading in Stocks and Commodities”.

    I would also like to emphasize that money management played a large role in the success of the above 14 successful traders. Money management is extremely important for trading futures and commodities and is the major reason that so many beginners lose their accounts. I lost 5 accounts before I became successful at futures trading. Money management is discussed throughout the book both by those interviewed and in the helpful comments of the authors.

    This is one of the valued books in my collection of many, many futures and commodities trading books.

  5. carlking


    Thanks Joe!
  6. Pekelo


    Don't mind me saying, but what is the actuality of this book today? This was written in '98 in the time of monkeys throwing darts when anyone could make money just by going long.

    Where are all these traders today and how did they do between 2000-2003 and 2008-2009???
  7. carlking


    'He also uses an approach based on George Douglass Taylor’s 1950 book “The Book Method”.'

    If it worked in 1950 and it worked in 1998 why don't you test it today? There is a good chance that what works over such a long period will work in the future.

    Many of the market wizards studied books written almost 100 years ago on the stock market.

    I am not trying to sell this book. I have posted on my website a place where you can legitimately read it for free.