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Publisher's Summary

New traders are greedy and have unrealistic expectations; Rich traders are realistic about their returns.

When New Trader awoke bright and early, he could feel his excitement building with every second.

Turning on his computer, he thought about all the hard work that went into building his account; all the hours of overtime at his first job, and delivering pizzas on weekends.

That part of his life was now over. His heartbeat quickened as he typed in his username and password. And there it was, his $10,000 trading account.

He was ready.

How could he not be? He had been trading through simulated accounts for over a year, watched financial news, and followed trading gurus online.

The way he saw it, it was easy....

Follow the journey of New Trader as he learns just how challenging trading can be! Explore psychology, risk management, and methodology in this revised and updated, best-selling classic!

Praise for the first edition of New Trader Rich Trader

"I love the structure of this book: Steve Burns points out huge differences between winners and losers in every area of the market. Each chapter takes up a pair of opposites, such as 'New Traders try to prove they are right; Rich traders admit when they are wrong.' Dozens of such pairs offer a psychological mirror to serious readers." - Alexander Elder, www.elder.com

"Here is a work that puts the reader in the mind of a fledgling trader who makes all the mistakes then learns from them. Told in an instructive and entertaining narrative, the author takes the reader through the trading concepts with a clarity and ease of understanding. A must read for beginning and intermediate level traders." - Dr. Chris Kacher, co-founder of www.SelfishInvesting.com and co-author of How We Made 18,000% in the Stock Market

©2017 Stolly Media, LLC (P)2017 Steve Burns & Holly Burns

What listeners say about New Trader Rich Trader

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Nice content and format to help new traders.

Nice content and format to help new traders build a trading system and rules for discipline.

3 people found this helpful

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  • Ru
  • 12-29-18

Superb and invaluable

This content is invaluable to the novice trader. Even more so to the struggling trader who wishes to become consistently profitable. My only gripe is that the Chapters as read out by the narrator do not correspond with the audio book chapters menu. Otherwise superb narration.

2 people found this helpful

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Nuggets of wisdom in a tiny package

I enjoyed this book for it's mentor/protege style and it's simplicity and straightforward approach to trading. There are some solid bits of information here to study, digest, and apply. Trader mindset, learning from mistakes, managing expectations, controlling ego, finding your method, along with other topics. The author gives recommendations of other books to help with this journey. It's a short but solid primer on trading psychology. I also recommend Secrets for Profiting in Bull and Bear Markets by Stan Weinstein.

2 people found this helpful

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excellent book

recommend book for those how suffer from looses in the market and looking for couching book

1 person found this helpful

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offers perspective

however, being sold a trader educational program at the ended was a poor choice. reduced the quality of the overall book

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Solid advice for the new trader

This audio book is presented using the Socratic dialog format which keeps the listener engaged while dispersing a continual stream of pithy wisdom. The narrator does a fantastic job, so if you only tolerate great readers you will not be disappointed.

Most importantly, the advice is solid and someone about to start trading should take all this advice to heart. Experienced traders probably won't find anything new, but it was enjoyable and I never really get tired of hearing this advice as each time it sinks a bit deeper.

1 person found this helpful

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Awesome book for improving mindset of a new trader

The book is written very creatively, the new trader experiencing a wide range of emotions and making discoveries about trading. As he gains experience he keeps visiting rich trader, who gives him advice that shapes him into a successful trader. It is a very realistic approach with good information for traders with less than 2 years experience.

1 person found this helpful

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My New Favorite Author

Steve Burns has become my new favorite author. His concise delivery on what really matters is what does it for me.

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Just downloaded part 2

I’m a new trader just trying to learn as much as I can about the market and this book highlighted a lot of mistakes that I was making trading.

I highly recommend this book to any newbie to the market.

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Must have for a trader

Like any other trading book out there, you won't find the holy grail to success so if this is your case I would strongly suggest you seek success outside of the markets. First, you'll have to listen past the story line of this book. Although the story is a little too forced in the sense of some rich trader just "helping" out a new trader. The message is very simple: Don't over trade, don't overload with size, use a good risk/reward method depending on your trading preferences, and overall learn from previous bad trades or trades that could have been better (in hindsight) I recommend this book for any trader whether you're experienced or new as this has some great reminders for those very little details which tend to be forgotten or overlooked, but are very detrimental to manage a good or a bad trade.

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  • kian
  • 01-10-18

Good for starters

A very good book for beginers as I found all the highs and lows pointed in this book. I wish I read this book before I started trading.

1 person found this helpful

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  • Shah Newaz Choudhury
  • 12-31-17

Excellent for new traders

Loved every second, very educational and many golden nuggets received. Recommend new traders to listen to enhance trading experience.

1 person found this helpful

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  • Richa
  • 04-01-22

trading system for new bee

loved it. listened atleast 5 times, make notes as well. so I would highly recommend this book if you are new in market or been trading with losses. this book finally give you the reason for your losses and teach you how to trade.

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  • Ionut constantin
  • 02-24-19

Very good book!

Recommended for new, intermediate and maybe for more advanced trader.Very enjoyable narrator voice.Lots of lessons to learn from it!

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  • LAS
  • 01-06-19

Nothing less than astounding

I like that this book makes it feel as if YOU are the New Trader, learning from your mentor — Rich Trader. It’s fun, fresh, thorough and immensely informative. I have also listened to New Trader Rich Trader 2, and about to re-listen.

I recommend this reading for anyone, like myself, that is serious about trading the stock market; and don’t believe in the hype that it is a Get rich quick method to attaining wealth — because it’s not.

I am grateful for the fact that this books teaches and explains, in great detail, the three most important aspects of trading; such as:

.Methodology — Your System
.Psychology — Human Emotions, being Objective rather than Subjective
.Money Management — Trading Capital, Risk vs Reward & Share size.

I could go on and on about its many perks.

My only Con is that while it’s very informative, I shyly hoped for it to be longer. But i guess that’s what the 2nd one is for. :)

This was WELL worth my money.

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  • Zen & The Art of Trading
  • 05-21-19

Phenomenal Book

Fantastic book for new traders. As a consistently profitable trader who has been through the tumble dryer of market tuition I can really relate to the concepts and story behind this book. You might not learn anything you didn't already know or intuitively understand, but this book drives the core ideas home in a concise and effective manner. Couldn't recommend it more.

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  • Anonymous User
  • 04-04-18

Highly recommended for new traders

Those that are new to trading or considering giving up trading because they aren’t “winning” will benefit from listening to this audio book.

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  • Alberto
  • 01-15-18

quick and insightful read

ideal for new trades who want to avoid the most common mistakes of the rookies. recommended if you're starting your trading career or if you're struggling to succeed