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The Laws of Trading: A Trader's Guide to Better Decision-Making for Everyone (Wiley Trading) by [Agustin Lebron]

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The Laws of Trading: A Trader's Guide to Better Decision-Making for Everyone (Wiley Trading) 1st Edition, Kindle Edition

4.5 out of 5 stars 51 ratings

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Product description

From the Inside Flap

There are countless trading books out there. Some are useful, but a disturbingly large number of them are outdated, deceptive, or just plain wrong. Some of them claim to teach you how to make money trading, uncovering the hidden techniques and secret information to get rich in the markets. But if they really had profitable trades to teach, wouldn't they keep it to themselves? Others are memoirs that recount scandals and other sensationalized tales of bad behavior. While sometimes very entertaining, they really don't provide anything that readers can use in their own lives. The Laws of Trading is neither. It's different. It's about making decisions.

Human beings, it turns out, are largely terrible decision-makers. We underestimate small probabilities while overestimating large ones. We place great faith in our own skills and knowledge, even when there is no basis for it. It's human nature, we all do it. Academics have known this for decades, but academic knowledge doesn't necessarily help us in our daily lives: we need practical ideas for becoming better decision-makers. The Laws of Trading will help you:

  • Understand, remember, and readily access useful concepts to apply in any situation
  • Learn how to identify, develop, and leverage the special edge that sets you apart
  • Take advantage of the AI moment that impacts anyone who buys and sells on a daily basis in the global economy
  • Explore interesting and complex decision-making situations with bonus digital tools including Excel spreadsheets and various fully-worked examples

This book addresses the common flaws and biases in our decision-making processes and shows us how to think like a trader. The author has lived, breathed, and dreamt trading for much of his adult life, building a successful and profitable career in the process. Through the instructional lens of trading, you will enhance and strengthen your decision-making skills—skills that carry over into all aspects of your life.

Trading is taking over entire industries, from advertising to catching a ride. You need concrete, accurate, and actionable knowledge to thrive in this world. Every decision is a trade. The Laws of Trading provides a valuable set of mental tools that will help you think about the trades you should make—and the trades you should avoid.

--This text refers to the hardcover edition.

From the Back Cover


"A fun and fascinating guide to the world of trading, ranging effortlessly from the fine details to the broad lessons we can all learn when we think like a trader."
—Tim??Harford, author of??The Undercover Economist??and??Fifty Things That Made the Modern Economy

"Do??we??need??another??book??about how to beat the stock market written by an arrogant trader? I sure don't. But, hey, wait, it turns out this is not about beating the market. Agustin Lebron is applying his experiences to actual real life, helping you with insights into how you can balance risk and reward, how to get to know yourself and your motivations. Entertainingly written as well as insightful."
—Dr. Paul Wilmott, creator of and the Certificate in Quantitative Finance


Trading is the act of buying and selling. Whenever you buy groceries, you are trading. Purchasing a car, ordering dinner, selling an item on eBay—all trades. Going to work is a trade, exchanging your labor for a wage. Trading is as old as civilization, and it's more ubiquitous today than ever. Unfortunately, accurate, reliable information on trading, particularly in financial markets, is hard to find. It's common for books on trading to try to sell you products and services.

The Laws of Trading is different. Its purpose is to teach specific mental skills that extend far beyond the trading floor to wherever rational decision-making is important.

Science tells us that human decision-making is flawed, biased, and irrational. Learn to avoid these problems in day-to-day decisions. React in real-time with the appropriate decision. Leverage your unique skills and knowledge. Make profitable trades in your personal, professional, and financial life. Think like a trader.

--This text refers to the hardcover edition.

Product details

  • ASIN ‏ : ‎ B07SZ9W3LX
  • Publisher ‏ : ‎ Wiley; 1st edition (June 12 2019)
  • Language ‏ : ‎ English
  • File size ‏ : ‎ 2091 KB
  • Text-to-Speech ‏ : ‎ Enabled
  • Screen Reader ‏ : ‎ Supported
  • Enhanced typesetting ‏ : ‎ Enabled
  • X-Ray ‏ : ‎ Not Enabled
  • Word Wise ‏ : ‎ Enabled
  • Print length ‏ : ‎ 283 pages
  • Customer Reviews:
    4.5 out of 5 stars 51 ratings

About the author

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Agustin Lebron grew up in Canada wanting to be an engineer just like his dad. After graduating, he started his engineering career designing radio chips. In 2008 he switched to a career as a financial trader and researcher, just as the world's financial system was imploding. He survived those crazy years and over the years he has traded many kinds of securities, and created several successful trading strategies. For the last five years he's run the consulting firm Essilen Research, where he is dedicated to helping clients integrate modern decision-making approaches in their business.

Customer reviews

4.5 out of 5 stars
4.5 out of 5
51 global ratings

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Reviewed in Canada on December 25, 2019
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Top reviews from other countries

Lector ecológico
4.0 out of 5 stars Buena introducción a la compraventa de productos financieros
Reviewed in Spain on August 31, 2020
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Christine Hammer
5.0 out of 5 stars Great read
Reviewed in Germany on July 28, 2019
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Euan Sinclair
5.0 out of 5 stars unique and insightful
Reviewed in the United States on February 8, 2020
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Sam S.
3.0 out of 5 stars Not what I expected
Reviewed in the United States on July 19, 2019
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Paul Johnson
5.0 out of 5 stars Great insights that apply well beyond Wall Street
Reviewed in the United States on June 18, 2019
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