Binge Trading by Seth Freedman – Review

Posted on 17. May, 2010 by Moderator in Review

As I have spent this weekend relaxing in Sweden I have finally had some time to finish Binge Trading, a book written by Seth Freedman – Binge Trading – The Real Inside Story of Cash, Cocaine and Corruption in the City. The book is partially about Freedman´s own life and experiences through various positions in the city in the square mile – London´s financial center. Freedman was living this life for some six years, and sadly enough, this is only a small part of the book (the first chapter more or less). The rest of the book is a combination of interviews and Freedman´s own insights. In these interviews Freedman tries to demonstrate some of the psychological elements and personal traits of a typical city insider; what attracted them to the market, why they entered the profession, how they adapted to the high-octane environment, etc. He also tries to demystify the job of a trader, shows us the reasons for a very high use of alcohol and illicit drugs amongst traders, etc. Seth Freedman is very open about the lifestyle as well as his own addiction both to drugs as well as trading itself. However, I think the title of the book is somehow a bit misleading. The extreme lifestyle is a only a very small part of the book. The interviews have some interesting aspects, but somehow it does not give a very clear picture of a typical trader, as most of the individuals interviewed are talking mostly about their own misfortune due to a change in laymen´s perception of a trader.

If you are new to trading, this will not be of any help as there is no explanation or education on any trading related terms. Additionally, the interviews can be challenging to read, as they seem to be direct transcriptions without any editing. Besides from that, I think that Binge Trading was a good read. Although I have read The Wolf of Wall Street by Jordan Belfort and seen Wall Street (obviously) I am still amazed with this extreme lifestyle, and the way in which people can be transformed once they enter this industry. Grab a copy of Binge Trading here.

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Tags: Binge Trading, DayTrading, Jordan Belfort, Seth Freedman, The Square Mile, The Wold Of Wall Street