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Best Loser Wins

Why Normal Thinking Never Wins the Trading Game – written by a high-stake day trader

By Tom Hougaard

Paperback £24.99 / $32.99
eBook £18.99 / $22.99
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Best Loser Wins

Why Normal Thinking Never Wins the Trading Game – written by a high-stake day trader

By Tom Hougaard

Jacket text

Best Loser Wins is an intimate insight into one of the most prolific high-stake retail traders in the world. Tom Hougaard is the winner of multiple trading competitions and on one occasion traded £25,000 into more than £1 million over the course of a year.

While the average retail trader risks £10 per point in the underlying asset, Tom Hougaard frequently risks up to £3,500 per point. This risk exposure requires a mindset that is out of the ordinary.

Normal thinking leads to normal results. For exceptional results, traders must think differently.

This book will guide and inspire you in ways no other trading book has. It is not about strategies and money management. It is about mind management. Tom Hougaard provides a unique and refreshingly personal account of how an ordinary trader elevated his game to incredible heights by focusing as much on his mental approach as on his technical analysis.

Best Loser Wins explains how you, by thinking differently when you are trading, can elevate your game from mediocre and sporadic, to excellent and consistent. No amount of technical analysis will ever do that for you.

Tom Hougaard says, “People don’t fail because they don’t know enough about technical analysis. They fail because they don’t understand what the markets are doing to their minds.”

Best Loser Wins is an antidote to conventional and flawed thinking in trading, and a blueprint for a new belief system for traders who want to elevate their results to levels they never dreamed they could reach.

About the author

Tom Hougaard studied economics and finance at two universities in the United Kingdom, and then went on to work for JPMorgan Chase, before spending the next ten years in the City of London as a Chief Market Strategist for a CFD broker. He has given thousands of TV and radio interviews on the state of the market, as well as educating tens of thousands of clients on trading strategies. Since 2009 he has traded for himself.

Tom has self-published several works on trading psychology, price action and product knowledge.

You can follow Tom’s trading via Telegram and YouTube. You can view his trading results on


Best Loser Wins won’t provide you with a method for beating the markets –nor does it purport to. What it will do is teach you truths about trading and an understanding of the difference between winners and losers – and if you don’t understand why that is more important, then you really need to read this book.

Jack Schwager, Author, Market Wizards series

Best Loser Wins provides a triple whammy of high value. First, it provides a very compelling and engaging narrative of Tom’s rise from being a beginner to becoming a highly successful trader, warts and all. Second, it provides insights into Tom’s approach to the markets, and his deep trading expertise. And third, perhaps the most valuable of all, Tom shares his thoughts and practices for developing a winning trader’s mindset, thinking differently, becoming a good loser, and embracing the discomfort that comes with trading the markets. I would highly recommend this book to any trader who is serious about mastering their craft, and mastering themselves.

Steve Ward, High Performance Coach, Consultant, Author and Speaker

Losing traders and winning traders simply think differently. The winner is someone who sees beyond the typical and engrained human responses that are responsible for the 80% losing stats quoted by the market makers. In Best Loser Wins Tom Hougaard shares his trading journey on the route to consistency and profit. This will lead you towards a series of beliefs and intuitions far removed from the amateur and beginner, and into the winners enclosure.

David Paul, VectorVest

Readers seldom have chance to get inside the mind of a trader and see things the way the trader does. In Best Loser Wins, Tom Hougaard shows you what it takes to become a consistent trader; this is an assassin showing you how he gets ready for his next hit. If you ever sit alone in front of a trading screen, you need to read this book. Period.

Larry Pesavento, Founder and Owner, Trading Tutor

Media coverage

From Facts Chronicle :

Facts Chronicle have ranked Best Loser Wins: Why Normal Thinking Never Wins the Trading Game within their top 10 trading books for 2023.

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From CNBC:

Tom Hougaard on CNBC discussing his book Best Loser Wins.

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From The AlphaMind Podcast:

Tom Hougaard is a ‘high-stakes’ day trader, and author of a superb new book ‘Best Loser Wins: Why Normal Thinking Never Wins the Trading Game’, which focuses on the mental battle needed to succeed in trading and the challenge of getting your mind right.

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From SacroMacro:

Best Loser Wins wants you to not be afraid of failing. It will guide you through the complex undertaking of extracting actual value from failures. It teaches you how to become cynical and resilient.

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Published: 16/08/2022
Edition: 1
Pages: 264
Formats: paperback - ISBN 9780857198228
ebook - ISBN 9780857198235
audio - ISBN 0000000000071
Media enquiries

If you’d like to get in touch with the author for interview or comment, or you’d like a review copy of this book, please contact us at or call +44 (0)1730 233870.


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