Bill Gates said he'd rather hire a senior manager who knows failure and fought his wait to the top, rather than some overconfident schmuck who has never known failure. That's one of many reasons why I like this book. Tom Busby's knowledge about timing, key numbers, tape reading, etc. has been developed and refined on the real battlefield of trading.

Market Wizards has been one of the most influential books in my trading career. Traders from humble beginnings with no money -- rising up out of nowhere to make millions. How much more inspirational can you get?

One of the things that really hit home is how Brett Steenbarger says to focus on creating a daily process that works as opposed to hitting a specific profit target. When I read that, I really to had to put the book down and let it sink in. There are many other profound thoughts, just like that in this book.

There isn't a single trader that I know of who hasn't experienced a big loss in the markets. Those who survive know that the key to coming back and being consistently profitable is money management. You must control your risk and achieve a balance between being aggressive and being careful. To achieve that balance, this book from Bennett McDowell is a great place to start.