THE ELEMENTS OF SUCCESSFUL TRADING
Simon & Schuster
New York Institute of Finance
New York, NY 10004
Author: Robert P. Rotella
Writing an introductory book on trading — or perhaps a good survey — is a task that would certainly daunt
me these days. Many good books are available out there, and the subject area has expanded exponentially
in the last four years. Undaunted, Robert Rotella has taken a swing at it and done a pretty good job.
Trading, opines Rotella, is an interactive process composed of three elements: trading method, money
management and trading psychology. While most novices and even some veterans focus on trading
method, in 670 pages Rotella justifiably hits all three topics, though trading method still gets 60% of the
book . Even 389 pages cannot do more than whet the reader's appetite, but at least the reader will run
across virtually everything that's used in the public domain of trading. That done, he's free to peruse the
references listed in the bibliography in the back of The Elements of Successful Trading.
Despite this emphasis, let me focus on the latter two sections. Robert Rotella, an apt man with a quote,
leads off with:
If a man will begin with certainties, he shall end in doubts; but if he will be content to begin with
doubts he shall end in certainties.
-Francis Bacon, The Advancement of Learning