Rather than detailing the glories of the trading lifestyle and the millions to be made, Mr. Eng opens his book with a tragic tale of pain and loss that illustrates just how tough trading can be, and how the psychological effects can be magnified by conflicts in other parts of your life if you are not prepared. Many dabblers and novices hoping for a fast path to a quick buck will be turned off after reading the introduction, and I get the impression that this is the way Eng wants it.
The advice in this book rings true because Eng has been there and done it. He has lived and breathed the rules he teaches. He has made most if not all of the mistakes he warns of and personally felt the painful consequences. It is hard not to respect a veteran, especially one who has been successful in his campaign.
A lot of the rules may seem deceptively simple, or even contradictory at times (a number of trading maxims often are on the surface level), but perhaps the real value in this book is in the explanation of the rules through example and experience. With the basics so prominent and the rules for trading success so widely disseminated, the paradox is why so few can follow those rules. Perhaps one reason is because it is necessary to really understand on a deeper level why these rules are important before it is possible to follow them consistently without internal conflict. Eng's examples and stories help to illustrate the importance of the rules. This book will likely be appreciated more by old traders than new. Those who have years of trading under their belts will see hard earned wisdom in the words and maybe find a sense of comraderie with Eng as he tells his stories.
If you find Eng's rules too simple or too basic to bother with, ask yourself what your own interpretation of trading success is and how well you follow your guidelines. You might be surprised.