Trading Book Review by LearnCFDs.com
What if you could learn the key mindsets, entry, exit and position sizing methods that made Dave Limburg over 400% in 9 weeks. Would you be interested?
If like most people your answer was a resounding YES then you need to get your hands on a copy of Eva Diaz’s, Real Traders 2.
Real Traders 2 by Eva Diaz steps inside the minds of 7 very real traders who achieved the prize award of finishing in the top 10 out of 438 entrants in Australia’s richest CFD trading competition with a $100,000, winner take all first prize.
While Real Traders 2 focuses mainly on Dave Limburg, who made a staggering 441% return in 9 weeks, Eva Diaz has done a fantastic job in getting to the core of exactly how the other 6 made their incredible gains as well.
Just to get into the top 10, you needed to make a ridiculous 145% return on your initial starting balance which annualises out to over 800% per year. Unbelievable I know.
Real Traders 2 CFD & Forex final leader board
|Final Ranking||Name||Percent Return||Trading Style|
|10||Robert James Bell||145.4%||NA|
NOTE: The XJO (Australian benchmark index for the top 200) made 5.3% starting at 5995 and finishing at 6313.
Fortunately for the reader, Eva Diaz comes from a trading background herself, which enabled her to probe and cross-examine these elite traders to find out what makes their minds tick and uncover their particular trading methods and computer setups.
The result is an in-depth look at exactly what it takes to make above average gains, trading the Australian market using CFDs, indices and Foreign Exchange (Forex).
Real Traders 2 is a week by week look at exactly what Dave Limburg was trading, what his thoughts were, how he analysed the market and ultimately the formula that leads to his success at claiming the ‘Number 1 CFD trader in Australia’ title.
For those of you who love statistics and detailed analysis, Eva Diaz has compiled the exact trades that took Dave to the top and also those trades that nearly lead to his demise.
‘Eva Diaz’s book is like sitting right beside an
incredibly talented trader…’
Eva Diaz’s Real Traders 2 is a compelling read because it’s like sitting right beside an extremely talented trader as they compound crazy returns week after week. If tennis were you passion then reading this book would be like sitting courtside at Wimbledon as Roger Federer takes on Rafael Nadal in a tense, nail-biting 5 set marathon. Very few books, with the exception of the Market Wizards series by Jack Schwager, will give you as in-depth a look at what sets winning traders apart from the also-rans.
What will blow you away is the aggressive nature the winners had with regards to leverage. What might not be clear from reading the book was that one trader managed to make a mind boggling 2,000% during the competition, only to fall away in the last two weeks and not even contend for the top 10 placings.
‘Imagine being able to learn the top CFD traders
key secrets to success…’
The reality is all traders, as a fisherman, have their stories to tell. Eva Diaz weaved her magic as she got each of the gun traders to reveal their prized secrets but most importantly their biggest learning mistakes during the competition. Dave Limburg didn’t have it all smooth sailing and during one bad stretch managed to take his worse loss on FLX as it stripped over $30,000 from his trading account.
Hanging on for dear life, he nearly gave up his $100,000 first prize towards the end as several positions turned bad and started leaking thousands of dollars from his account.
Chapter 8, Trade Management, goes into the critical aspect of managing losses and learning how to bounce back. All traders have to learn to live with risk and loss, but it’s not so much the losing that makes or breaks a trader, but the recovery that counts.
Real Traders 2 shows how some of Australia’s best CFD and Forex traders learn to bounce back from adversity.
Eva Diaz keeps you on the edge of your seat as the competition draws to a close.
You can feel the sense of urgency and nervousness each of the top 3 contenders had leading to the final days, as each had a very real chance of winning the mammoth $100,000 first prize.
“I threw everything into it. I started trading every single available dollar in my account during the last week and traded way over my normal range.” “If it wasn’t for the competition I wouldn’t have traded like that. I grew more aggressive during the competition.”
Dave Limburg – 1st Place
“I traded more in the final week and became panicky at the thought that I could win. What was going through my mind was that if I could only hang in there and not make any big mistake or take any silly losses, I could win the competition.”
Nichole page – Runner up
Towards the end, the reader is given a ‘backstage’ pass into what worked and what didn’t work for Dave Limburg and the other competitors. That section alone is worth reading and re-reading as you attempt to plant the key strategies into your subconscious mind, enabling you to become the best trader you can.
Real Traders 2 Quick points on Dave Limburg’s trading:
- $110,000 in winnings in 9 weeks or 441%.
- 936 trades, 23 trades per day over 40 trading days.
- Biggest win $60,362
- Biggest loss $33,580.