Warrior Trading: Inside the Mind of an Elite Currency Trader is an insider’s look at the world of warrior traders on the foreign exchange currency markets. These traders, who consistently reap substantially higher rewards then most other traders, approach the foreign exchange market with a unique set of ideas, perspectives, and strategies. This book is an excellent and well written discussion of what goes through the mind of a warrior trader and how you can put those same insights to work on your own behalf as an individual trader.
What is a warrior trader?
A warrior trader is, according to author Clifford Bennett, a member of the very elite group of foreign currency exchange traders who consistently make more money than the rest of the traders out there. And we’re not talking just a little bit more money; rather, we’re talking literally huge fortunes that are exponentially greater than the profits made by the vast majority of foreign currency exchange traders.
Now, these warrior traders are the ones most often held up for admiration because of their tremendous financial success, particularly by those who want to take advantage of novice traders and sell them some sort of “system” or “approach” by which they will gain huge fortunes as well. The reality, though, is that the great wealth achieved by warrior traders does indeed inspire others to enter the foreign exchange currency but most of those who enter simply do not understand or have access to the right information they need to duplicate that kind of success.
Warrior Trading: Inside the Mind of an Elite Currency Trader is one of the few, if not the only, resource on the market that clearly explains the warrior trader mindset and gives the reader powerful tools and insights for achieving that kind of success on their own.
Key topics covered
Bennett covers a number of topics in Warrior Trading: Inside the Mind of an Elite Currency Trader, which are laid out in three main sections of the book:
- Section 1: Warrior Homework – The details of how, when, and why a warrior trader conducts and relies on good, solid homework and research in order to succeed in the foreign exchange currency market. This section includes discussions of fundamental analysis, technical analysis, emotional price action, and quantum view that are most important and relevant to the warrior trader.
- Section 2: Warrior Wisdom – The often overlooked mindsets, approaches, and attitudes that set warrior traders apart from the rest of the large herd of foreign exchange currency traders. This section includes information on the real truth about market success, the effects of Wall Street media reporting, the extreme importance of market positioning, and the concept of consensus belief, concentration, and reality.
- Section 3: Warrior In Battle – The behaviour of a warrior trader in the actual “battle” of trading day in and day out is substantially different from the behaviour of the majority of other traders, which is an underlying reason why warrior traders amass such huge fortunes for their trading efforts. This section includes information about what goes through the warrior mind when trading, how a warrior trader chooses which “weapon” or approach to take, which “battle tactics” a warrior trader does and does not employ when trading, and what a “total victory” scenario looks like for a warrior trader.
From start to finish, Warrior Trading: Inside the Mind of an Elite Currency Trader draws clear distinctions between what the masses of traders do and what warrior traders do, helping the reader quickly understand the tremendous value and potential of the warrior trader approach to the marketplace.
Final thoughts
Warrior Trading: Inside the Mind of an Elite Currency Trader is an excellent resource for viewing and understanding the world of the foreign exchange currency markets in a different and far more profitable way. The lessons contained in this book are not just based on author Clifford Bennett’s personal opinions, but rather on a demonstrated track record built over his decades in the foreign currency exchange markets. The author masterfully integrates his own experiences with the experiences of other warrior traders from around the world, clearly revealing the underlying power of the warrior trader mentality.
Perhaps the most important insight to be gained from Warrior Trading: Inside the Mind of an Elite Currency Trader is to resist the temptation to “follow the herd” and echo what the rest of the marketplace is doing. Bennett makes it clear that each trader, if he or she wants to generate a significant fortune, must develop the mindset and the habit of taking a step back from the daily fray of trading to view the fundamental reality of the marketplace more accurately and objectively.
He also makes it clear that traders should not simply go against the flow of the rest of the marketplace all the time, but rather to pick and choose those times when doing so makes sense and is based on objective reality. Through comprehensive fundamental analysis, technical analysis, objective information gathering, and often just plain common sense, the individual trader can learn how to approach trading with the warrior trader mindset and reap the potentially huge rewards of doing so.