This author participates in the Readers' Favorite Free Book Program, which is open to all readers and is completely free. The author will provide you with a free copy of their book in exchange for an honest review. You and the author will discuss what sites you will post your review to and what kind of copy of the book you would like to receive (eBook, PDF, Word, paperback, etc.). To begin, click the purple email icon to send this author a private email.
This author participates in the Readers' Favorite Book Donation Program, which was created to help nonprofit and charitable organizations (schools, libraries, convalescent homes, soldier donation programs, etc.) by providing them with free books and to help authors garner more exposure for their work. This author is willing to donate free copies of their book in exchange for reviews (if circumstances allow) and the knowledge that their book is being read and enjoyed. To begin, click the purple email icon to send this author a private email. Be sure to tell the author who you are, what organization you are with, how many books you need, how they will be used, and the number of reviews, if any, you would be able to provide.
Reviewed by Asher Syed for Readers' Favorite
MEMOS from the Stock Trader's Notebook: Ruling the Markets From Mayhem to Mastery by Richard Smith is a non-fiction guide in which the author delivers his personal strategy for stock trading and details on how he does it. Referred to as the DvolT system, the discipline that Smith uses is uniquely simple and much of the book goes into the details of the 'why,' given that the 'how' is relatively straightforward. The key fundamentals of Smith's low volatility trading strategy include, but are certainly not limited to, not allowing emotion to drive, limiting stock ownership over traditional diversification, using simplified online tools such a P-SAR to determine buys over deep dives into analytics (and when to ignore P-SAR signals), balancing the probability of gains with a loss-limiting trigger, and finding the right DvolT candidates to play ball with, among many other things.
It's almost impossible for me to pass up a book with hand-drawn charts, let alone one that promises an investment strategy for the everyday Joe, so when I came across MEMOS from the Stock Trader's Notebook by Richard Smith, it pulled me in. My wife joked, “He had you at 'You can out-Warren any Buffett', didn't he?” I never regret marrying her. Smith's book reads less like a glossy and slick self-help guide and more like a manifesto, with a long-running narrative format occasionally dotted with charts. It is not always easy to follow and will likely take patience from readers while they find their rhythm in Smith's teaching style, but the system is sound and the direct markers to exactly which resources are essential bucks the trend of authors using books to catapult readers onto their own websites. Smith is about investing and so am I. I am also a huge sucker for Sean Connery movie quotes so there really is no downside for me here. Very highly recommended.