Published in 2022 Tom Hougaards 250 page book is probably the best book on high-risk and high-stake trading for advanced traders. Tom’s thesis is as follows: Only traders who are able to keep their losses small have a chance to be successful. He is crude and rude about it, but maybe that’s why his message gets across the lines without poetic distortion. And he provides examples that show how brutally honest traders have to be to themselves in order to cut losers short and let winners ride.
The book is of great value for intermedite and advances traders who are struggling with emotional conflicts. Tom’s advice on disciplined trading is formed by observing and practising. It’s a lot less poetic than Mark Wallaces epic bestseller “Trading in the zone”, but a lot more precise as in giving practical advice.
Tom runs a very popular Telegram chanels where he mentors thousands of participants on a daily basis for free. He collects meta data and presents some of it to his readers and students. Having worked the trading desk in London for a decade he knows where most traders fail and generate losses. His advice helps to avoid such pitfalls and maybe became a profitable trader alone by avoiding big losses.
A great read that is really helpful.