If you’ve spent any considerable time trading, you’ve likely experienced this: you begin with fervor, adopt a well-crafted strategy, secure a string of wins, and convince yourself you’ve unraveled the market’s enigma. Then, without warning, the landscape shifts. A single loss strikes, followed by another, and soon apprehension and exasperation begin to govern your judgment. You falter, hastily revise your tactics, exit either too hastily or too tardily—and the pattern reasserts itself.

I once held that trading prowess rested on discovering an infallible strategy. Then, I unearthed a transformative realization that redefined my approach to markets: victory doesn’t belong to the most erudite trader or the one most versed in technical analysis. It belongs to the one who masters the art of losing.

This is the profound lesson Tom Hougaard conveys in Best Loser Wins. Departing from the typical texts that catalog patterns, indicators, and theoretical constructs, this book centers on the decisive factor: your psychological disposition. For in trading, the market isn’t your adversary—you are.

Hougaard speaks from experience. Having witnessed countless traders rise and fall—some equipped with formidable intellect yet deficient in the fortitude to withstand uncertainty—he dissects why the majority falter and how a select few distinguish themselves. Not through superior wins, but through a critical insight most overlook: loss is intrinsic to the endeavor, and those who embrace it with finesse outperform.

Abandon the pursuit of an illusory strategic panacea. If your goal is sustained profitability, prioritize refining the linchpin of this pursuit: your own mental acuity. Are you prepared to refine your capacity to lose—thereby securing your chance to prevail?

Liar’s Poker

Envision a teenage Tom Hougaard, lounging on a couch in Denmark, fighting the flu with a pile of library books his dad brought over. One of those, Liar’s Poker by Michael Lewis, didn’t merely pass the time—it ignited a flame deep within him. Lewis depicted the 1980s Wall Street bond trading world as a chaotic, warning-laden spectacle of indulgence, yet to young Tom, it sang like a beckoning melody. The tale of a man leaping from a London university to the high-octane trading floor of an American bank seized his imagination—abruptly, skateboards and football dimmed while the markets turned into his fixation. Despite empty pockets and a family shaking their heads, he scratched his way to a British university, grinding through grueling shifts at a pension fund during the day and an amusement park at night, all to pursue this mad ambition of trading in London.

Next, jump to September 1992—Tom’s gathering his things for uni when the financial landscape spins into chaos on Black Wednesday. The British pound plummets out of Europe’s currency framework, and through pure chance, he wanders into his bank to exchange Danish kroner for pounds at precisely the right instant. Snap—£4,000 lands in his lap, sufficient to wipe out his education costs, courtesy of speculators like George Soros, who pocketed a billion that day. Plus, there’s this bizarre subplot: an Englishman in Paris, floored by an overpriced hotdog, deduces the French francs inflated and flips £5,000 into £8 million—only to squander it all down the line. It’s a whirlwind narrative that grabs you, murmuring a lesson Tom would grapple with for years: landing a victory feels electric, but holding onto it? That’s the true challenge, and it hinges on mastering your mind, not just decoding the charts.

The Trading Floor

Walk onto a trading floor with Tom Hougaard, and you’ll sense the energy slam into you like a shot of espresso. His initial taste came during an interview at Handelsbanken, where the head trader scarcely flicked an eye his way, too absorbed in the market’s rhythm—it’s a moment that lingered, much like when he covertly traded the Dow’s fiercest rally ever in 2018, slipping to the bathroom amid Christmas pudding to peek at charts. Arriving at Financial Spreads in 2001, he was struck by the atmosphere: brokers sprawling with comics when the lines went dead, a stark contrast to his slog at JPMorgan Chase. Yet when things heated up, wow, it turned into a jungle—unfiltered emotions bursting out all over, from a guy trashing his PC in fury to millions changing hands like loose coins. Tom witnessed a Russian client brush off a $10 million margin call before breakfast, a figure that’d take him 133 years to recoup back then.

Seven years at City Index thickened the plot, immersed among 25,000 clients churning out trades like a Vegas slot machine. Talking with a trading CEO buddy, Tom uncovered a harsh reality: in 30 years, barely any traders stood out enough to recall—they’d score huge, then plummet fast, incapable of clutching the profits. Even with today’s sharp tools narrowing spreads from 8 points to 1 on the Dow, the flop rate still lingers at 80%. Tom observed pros and newbies alike notch more wins than losses, only to drain dry because their losses towered over the gains—imagine £1.66 lost for every £1 gained. It’s a prime view of human nature on overdrive: fear, greed, and defiance slugging it out daily. This isn’t merely a gig; it’s a thrilling sprint that revealed to Tom the market isn’t the foe—it’s the tangled, stunning turmoil within us all that’s the true monster to conquer.

Everyone Is a Chart Expert

Ever reckon doodling lines on a chart could turn you into a millionaire? Tom Hougaard certainly believed so back when he swaggered out of uni armed with degrees and a mind brimming with patterns, poised to dominate the markets. This segment’s a reality check—he reveals how he, along with everyone else, fell under the spell of thinking chart mastery was the ultimate prize. Brokers nowadays toss you a smorgasbord of tools—Bollinger Bands, Keltner Channels, take your pick—practically pleading with you to succeed. Here’s the twist, though: Tom clocked failure rates at titans like IG Markets (75%) and Markets.com (89%), stubbornly clinging to the stratosphere. He’d tutor clients at City Index, dissecting trends like a maestro, only to figure out later it was futile without the mental toughness to prop it up. It’s a world where every Tom, Dick, and Harry imagines they’re a chart savant, yet the money keeps trickling away.

The real meat hits when Tom tears into the “guru” hustle—envision him smirking at a glossy ad featuring some dude he once mentored, now peddling an overpriced weekend seminar. His pal took the leap, endured hours of rehashed textbook drivel, and walked out fantasizing about millions—only to slam back to reality by Monday. Tom’s no outsider to the limelight either; his YouTube smash “Normal Does Not Make Money” clocked a million views, evidence his maverick perspective strikes a chord. He’s not ditching charts completely—you need some savvy for entries and exits—but he’s bellowing from the hilltops that it’s your mindset, not your candlesticks, that seals your fate. It’s a raw, candid glimpse past the facade, where the 1% who prosper aren’t just patterned nerds—they’ve unraveled the secret to wrestling their own chaotic, human flaws.

The Curse of Patterns

Plunge into Tom’s early trading days, and you’ll catch him hunched over charts, pursuing patterns like a treasure seeker with a tattered map. The Curse of Patterns is his admission—he dove headfirst into Fibonacci ratios, Gann’s esoteric flair, and even tidal surges in the Hudson River, frantic to unlock the market’s hidden beat. He’d churn out heaps of charts, sketching lines and loops, aiming to dance with the market without stumbling over his own laces. The markets, though? They sneered right back, too untamed and elusive for any theory he’d soaked up in econ class. The title’s a blazing warning: patterns are a captivating lure, dazzling and tempting, yet they’ll hex you with empty promises if you’re not careful. Tom’s “sore toes” from those initial missteps spin a yarn of a man who learned the tough way that stiff rules don’t call the shots.

Skip to March 4, 2022—Tom’s watching Brent Oil soaring like mad. A pal’s buzz hooks him, so he leaps on a retracement, no strategy, no stop-loss, just raw gut—and it craters. Later, he calms down, catches a harmonic pattern, and aces it, steady as a rock. That’s the pivot: from pattern addict to a man who wields them wisely, not blindly. Back at City Index, he’d watch clients flop on trend days, lured by overbought cues into battling the current—textbook plays, novice outcomes. It’s a gripping tale of fixation morphing into insight, where Tom abandons the fantasy of unraveling the market’s essence for a clearer fact: patterns are mere tools, not the script. The true spark? It’s in how you tackle the mayhem when the charts couldn’t care less.

Fighting My Humanness

Ever sense your own mind plotting against you? That’s Tom Hougaard’s take in Fighting My Humanness, where he lays bare the raw struggle with the chaotic human flaws that kept derailing his trades. He used to be a wreck—stellar mornings trashed by careless afternoons; weekly gains incinerated on Fridays—until he crafted his “Book of Truths.” Imagine him sifting through past trades, mapping them on charts, confronting the harsh reality: 85% win rates ruined by colossal losses, all because fear, greed, and impatience gripped him tight. Old diaries he fished out from musty cabinets howled with despair—day after day of “I won’t do this again,” yet he did, trapped in a cycle until he stared himself down. It’s as if he’s peeling off layers each morning, emerging as a new Tom primed to fight, not fall.

Now, here’s where it gets intense: Tom’s got tactics to outsmart the monster within. He prints charts every night to hone his patience, inhales deep—seven seconds in, eleven out—to quiet the clamour in his skull, and envisions himself facing down alligators or trading wild stakes, all to dull the panic and greed. By March 2022, he’s cruising seven months without a losing day—not to brag, but to prove what clicks when you harness the turmoil. He tips his hat to a study of 25,000 traders, nailing 61% of trades but floundering overall because they couldn’t ditch losses—evidence it’s not the market, it’s us. This isn’t some dull sermon; it’s a rugged epic of a man clawing beyond his own faults, flipping frailty into victories with a blend of grit, cunning, and a dash of madness. You’ll want to snag a coffee and dive deeper, believe me.

Disgust

Imagine Tom Hougaard bent over his trading screen, the light throwing shadows on a face contorted with something harsh—disgust. In Disgust, he pulls you into those raw early days when a losing trade wasn’t merely a figure; it was a blow to the stomach, a bitter mix of shame and rage churning within. Losses didn’t just linger—they mocked him, hissing he was a failure, driving him to hurl reckless trades at the market like a child in a fit. He’d simmer in it, reliving every slip, that queasy sensation swelling until it wasn’t about the money anymore—it was deeply personal. Here’s where it turns intriguing, though: Tom quits dodging that vileness and begins facing it head-on, morphing a trader’s bane into an odd sort of guide.

This isn’t some tidy self-help spiel—Tom gets visceral, revealing how he scraped his way out of that mire. He’d sit still, breathing deliberately, letting the disgust crash over him like an icy tide, then snatch a pen and probe why it struck so deep. Ego, defeat, looking foolish—those were the true villains, not the market. With his “Book of Truths,” he’d revisit those stomach-twisting trades, not to sulk, but to grow, teaching himself to brush off a loss like it’s just another sunrise. By the time he’s stacking victories in 2022, that old burn’s a specter he’s subdued. It’s a gritty, human brawl—less about graphs, more about soul—and Tom’s story of taming that demon keeps you riveted, pondering how he spun venom into strength.

The Drifter Mind

Ever notice your thoughts drifting when you’re meant to be dialed in? Tom Hougaard lays bare that fight in The Drifter Mind, drawing you into those times when his concentration sailed off like a kite in a gale. He’d be stationed at his desk, the market humming, and out of nowhere, he imagines waves pounding or mulling over yesterday’s lousy move—meanwhile, a golden trade glides past unnoticed. It’s a crafty bandit that wandering mind, and Tom admits how it sank his performance, particularly when monotony or fatigue slipped in. He doesn’t hold back: a scattered brain bled him dry, and he’s got the war wounds from those foggy-minded days to show for it.

Yet Tom’s no pushover—he snags that drifter by the collar and yanks it back in line. Envision him starting each day with a routine, sifting through old charts like a sleuth unraveling a mystery, honing his gaze. He’d inhale slow—deep in, deeper out—until his head stopped jittering or plunge into fierce mind games, staring down phantom sharks to lock his attention firm. By March 2022, with seven months of unbroken wins, he’s forged that restless brain into a razor-sharp cage. It’s a lively tale of a man grappling with his own noggin, packed with tenacity and a pinch of madness, pulling you close to witness how he stops that roving mind from bolting with his gains.

Trading Through a Slump

Slumps are the nightmare of trading, and in Trading Through a Slump, Tom Hougaard drags you deep into the heart of his bleakest patches. He’s recounting those savage streaks where every trade landed like a punch to the jaw—confidence seeping away, uncertainty stacking up like thunderheads. Hot off a £325,000 month on his Telegram channel, he’d slam into ruts where nothing clicked, days stretching into weeks of red stains that jeered at his every step. It’s not merely the losses that chew at him; it’s the relentless grind chipping away at his spark, hinting he’s washed up. Tom’s watched traders buckle here, grasping at foolish solutions, and he’s candid about flirting with that gloom himself.

Next comes the rebound, and it’s a stunner—Tom doesn’t grope for a rescue; he digs deeper into what’s solid. He’s back at his station, slicing through trades like a doctor, pinpointing where haste or ego snagged him, then leaning hard on his staples: fresh mornings, tight setups, no reckless lunges. He banks on the market tossing him a lifeline if he holds firm, breathing even and paging through charts to stay grounded. It’s gradual, unglitzy labor, yet it hauls him free—39 winning days in a row isn’t chance, it’s nerve. This is Tom at his most unfiltered, a man who bends a slump into a crucible, forging a keener trader, and you’re right beside him, cheering each tough stride.

Embracing Failure

Failure’s the beast lurking under the bed, yet in Embracing Failure, Tom Hougaard flicks on the switch and turns it into his pal. He hauls you back to the tough times—squandering his savings in 18 months as a home trader, then catching the axe from Financial Spreads for slamming Marconi live. Those weren’t mere slip-ups; they were spirit-breakers, stripping him bare and loathing every moment of collapse. Tom, though, doesn’t wallow—he begins embracing those flops, spotting them as treasures in the muck. By 2022, with no losing days since September, he’s not sidestepping failure; he’s got it on a quick call, gleaning more from a crash than a triumph, and it’s a thrilling spectacle to behold.

Now, here’s the meaty bit: Tom transforms failure into rocket fuel with a flat-out tenacious grind. He’s bent over his “Book of Truths,” revisiting every wince-inducing trade, soaking in the sting again but now with a smirk—because it’s schooling him. He’d inhale through the ache, probe why it hurt so fierce, and see it’s not the loss, and it’s the weight he’s hauling. That £29,000 vanished in eight seconds? He chuckles at it now, a world away from the guy who’d brood. He tips his cap to those 25,000 traders—61% wins, still busted—proving most can’t stomach a blow, yet Tom feeds off it. It’s a bold, soulful saga of a man who turned failure into his co-pilot, and you’re gripped, rooting as he spins and tumbles into strut.

Best Loser Wins

Best Loser Wins is Tom Hougaard’s showstopper, and it’s a stunner—he’s pocketing £17,000 in seven seconds, £325,000 in a month, all streamed live on Telegram for everyone to marvel at. Wait, though—this isn’t a boast; it’s a curveball that’ll flip your perspective. Tom’s preaching the doctrine of losing—yes, the top loser claims the throne. He’s witnessed it firsthand, from City Index masses to that FX study with 25,000 traders nabbing 61% of trades yet sinking because their losses were titans. His own rookie years? Fat hauls erased by fatter crashes until he pieced it together: winning’s meaningless if you can’t lose like a champ, and he’s got the battle tales to prove it.

The story crackles as Tom reveals how he turned the tables. He’s not hunting perfect trades—he’s mastering the craft of letting go, steady as steel when a position hemorrhages. Imagine him trading the Dow, shorting it live, clutching 200 points of profit through the shakes, all because he’s trained his mind to tune out the chaos with chart routines and raw resolve. That study’s shadow looms—traders dropping twice what they gain—and Tom’s the exception, slashing losses fast and coasting on winners with poise. It’s a pulse-racing epic of a man who rewrote the playbook, showing losing’s the hidden spice to winning huge, and you’re hooked, eager to watch him nail it every round.

The Ideal Mindset

Tom Hougaard wraps it all together in The Ideal Mindset, slipping you his hard-earned playbook with a sly grin and a nudge. This isn’t some airy guru spiel—it’s a jagged guide from a man who’s paid in blood. It kicks off with trust: in himself that he’s got the chops, and in the market, that it’ll serve up chances if he bides his time. That patience is priceless, refined sifting through charts, holding out for the prime hit, while confidence builds from relentlessly pushing forward. His inner dialogue? Calm, grounded, locked in the now—no stewing over old flops or chasing tomorrow’s cash. Seven months of victories by March 2022 roar it’s legit, and Tom’s dishing it out like a weathered pro handing off the baton, daring you to snatch it.

Hold on, though—this isn’t a comfy cruise—Tom’s story bristles with bite. He ditches the goal-setting fluff, no money fantasies pinned to his monitor—just fierce, unfiltered focus on the craft, honed by crazy mind games like staring down imaginary drops or eyeing fake P&Ls tank, all to stay chill when the pressure spikes. It’s a cycle he’s nailed: trust sparks patience, patience boosts confidence, and confidence shapes his self-talk, anchoring him right here, right now. That Dow trade, 200 points wobbling? He powers through, not fearless, but drilled to shrug off the dread. It’s a heart-thumping close—Tom’s not peddling a cookie-cutter cure; he’s flinging you a gauntlet to carve your own trail, and you’re left wired, itching to flip everything you figured you understood.

Closing Thoughts

Winning in trading isn’t about avoiding losses—it’s about learning how to handle them. Best Loser Wins challenges everything we assume about success, showing that the key isn’t finding the perfect strategy but training the mind to embrace discomfort, uncertainty, and setbacks. Tom Hougaard’s journey proves that mental resilience, not technical knowledge alone, is what separates those who thrive from those who struggle.

This book isn’t just about trading; it’s about rewiring the way we think about failure and risk. Those who can stay disciplined, accept losses as part of the process, and control their emotions will always have an edge over those who can’t. Hougaard’s insights go beyond financial markets—they offer a roadmap for anyone looking to push past fear, build confidence, and take control of their decisions, both in trading and in life.