Winning the Trading Game: Why 95% of Traders Lose and What You Must Do To Win (Wiley Trading)

Книга Winning the Trading Game: Why 95% of Traders Lose and What You Must Do To... Winning the Trading Game: Why 95% of Traders Lose and What You Must Do To WinКниги Бизнес книги Автор: Noble DraKoln Год издания: 2008 Формат: pdf Издат.:Wiley Страниц: 284 Размер: 2,5 Мб ISBN: 0470169958 Язык: Английский0 (голосов: 0) Оценка:Winning the Trading Game will teach aspiring traders the mental discipline and practical skills used by experienced and professional traders. It explains how to master the three essential skills of trading: money management, technical analysis, and risk control. The goal is to supplant the gambler's mentality of just "picking" the right trade to a set of systems that will guide the trader through both winning and losing trades. Once the average investor is equipped with this new skill set, he or she is able to take control of futures and forex investing the same way the professionals have always done. Winning the Trading Game: Why 95% of Traders Lose and What You Must Do to Win 6 Contents 10 Preface 18 Acknowledgments 22 Part I: More Life at the End of Your Money 24 Chapter 1: The Need to Build Wealth 26 RETIRING EARLY 27 NEGATIVE SAVINGS RATE 28 SOCIAL SECURITY 29 CONCLUSION 31 Chapter 2: Money-Making Megatrends 34 INDUSTRIALIZATION 35 EMERGING MARKETS 36 RESOURCES UNDER FIRE 39 FUTURES, FOREX, OR STOCKS? 43 Chapter 3: What Type of Investor Are You? 46 YALE STUDY 47 TYPES OF INVESTORS 49 FATAL MARKET CONDITIONS 55 WHERE YOU FIT IN 58 Part II: Why 95% of Investors Fail at Futures and Forex 60 Chapter 4: The World of Futures and Forex 62 FUTURES AND OPTIONS 63 FOREIGN EXCHANGE (FOREX) 67 TYPES OF POSITIONS AND ORDERS 72 OPTIONS 73 CONCLUSION 76 Chapter 5: The Fallacy of Traditional Stock Investment Beliefs 78 FUTURES AND FOREX INVESTING IS NOT NEW 79 WHAT YOU DON’T KNOW CAN HURT YOU 80 EXPLAINING THE STRATEGIES 81 FEAR LEVERAGE! 91 MYTH BUSTING 92 Chapter 6: How to Be Among the 5% Who Win at Trading 94 THE REALITY 94 TRADING WITH EMOTIONS 95 WHAT THE OTHER 5% ARE DOING 98 BATTLING THE DEMONS OF FEAR AND GREED 100 SO WHAT DOES IT TAKE TO BE A 5% TRADER? 103 Chapter 7: Becoming a Speculator 104 SPECULATION VS. GAMBLING 105 THE ROLE OF A SPECULATOR 110 ARE YOU A SUCKER OR A SPECULATOR? 111 THE THREE KEYS TO SUCCESS 113 USING THE KEYS TO MAP OUT YOUR JOURNEY 115 PULLING IT ALL TOGETHER 126 Part III: Seven Lessons for Trading Success 128 Chapter 8: Lesson 1: Developing a Trading Plan 130 MYTHS OF TRADING 133 WHAT MARKETS SHOULD YOU TRADE? 135 WHAT YOU HAVE ACCOMPLISHED 152 Chapter 9: Lesson 2: Preparing to Speculate 154 YOUR MONEY, YOUR EMOTIONS 156 SETTING TRADING GOALS FOR YOURSELF 163 MONEY MANAGEMENT RULES 167 CONCLUSION 171 Chapter 10: Lesson 3: Choosing Your Technical Indicators 174 FUNDAMENTAL VERSUS TECHNICAL ANALYSIS 175 WHY TECHNICAL ANALYSIS WORKS 176 TECHNICAL ANALYSIS STRENGTHS AND WEAKNESSES 178 QUESTIONS FOR TECHNICAL INDICATORS 181 LIVERPOOL TRADER CHECKLIST 195 BLACK BOX AND SYSTEMS TRADING 196 Chapter 11: Lesson 4: Developing Tactics for Entering and Exiting the Market 198 FIVE TOOLS FOR ENTRY/EXIT 200 TRADING IS A TEAM SPORT 218 Chapter 12: Lesson 5: Analyzing Your Opponents and the Market 220 MARKET PLAYERS 224 GROUND RULES FOR SPECULATORS USING HEDGING TECHNIQUES AS A RISK MANAGEMENT STRATEGY 230 WHAT CAN WE LEARN? 234 MASTERING FUNDAMENTAL REPORTS 237 CONCLUSION 239 Chapter 13: Lesson 6: Managing Risk 240 STOCK INVESTMENT TRUISMS 241 WHAT YOU SHOULD BELIEVE 242 SUCCESS AND FAILURE IN TRADING 244 WHAT MAKES IT DIFFERENT FROM MONEY MANAGEMENT 246 DETERMINE WHAT TYPE OF TRADER YOU ARE 250 WHAT RISK MANAGEMENT TOOLS CAN DO FOR YOU 252 NINE RISK MANAGEMENT TACTICS 252 RISK MANAGEMENT TOOLS BEST SUITED FOR YOUR TRADING STYLE 273 PROPER RISK MANAGEMENT 274 Chapter 14: Lesson 7: Building Confidence 276 10 MISTAKES ALL TRADERS MAKE 277 DEMO ACCOUNTS AND PAPER TRADING 281 TEST ACCOUNT 283 TRADING PLAN, TRADE WORKSHEET, AND TRADING JOURNAL 284 BUILDING CONFIDENCE ISN’T EASY 287 Chapter 15: Getting Started (The Three-Month Plan) 288 FOUR STEPS TO SEVEN LESSONS 289 THREE MONTHS OF WORK 294 WHAT I WANT FOR YOU AS A TRADER 297 About the Author 300 Index 302

Praise for: Winning the Trading Game

"A wealth of trading industry experience emerges in this work. Noble DraKoln covers the essential areas of fundamental analysis, technical analysis, and trading psychology with insight, originality, and refreshing candor. Furthermore, the material is skillfully presented with a view to practical application in the markets. This book will complement every trader's library from beginner to advanced."
—Dan Blystone, Senior Analyst, TradersLog.com

"Winning the Trading Game by Noble DraKoln encapsulates years of successful trading experience by mixing heartfelt anecdotes with real-world strategies in a literary work guaranteed to provide a deeper understanding for those looking to raise their trading acumen. DraKoln's book gives traders perspective on everything from what key technical indicators to use to more qualitative aspects, including how to develop a winning mindset. This duality of instruction brings value to readers of every trading pedigree."
—John Netto, President, One Shot-One Kill Trading, LLC

"Reading Winning the Trading Game is as exciting as attending the lectures given by the author. The name Noble DraKoln is synonymous with that of a remarkable teacher who gives step-by-step direction for both beginner and professional traders. In Winning the Trading Game, Noble DraKoln shares his impressive views on futures and Forex trading with the same wit and style he uses to dazzle the audience during his speeches."
—André Malpel, trader on futures and technical analysis expert, LIST, Inc., Managing Director and founder, IAT, Inc., Technical Analysis Expo & Paris Trading Show

"Wow! Noble DraKoln has done it again. I would encourage all traders to invest in this book. Noble's wealth of knowledge and years of trading will benefit traders of any experience."
—Harry J. Martinez, Director of Product Sales, GenesisFT.com

With Winning the Trading Game, investment expert Noble DraKoln helps you develop and refine the mental discipline and practical skills needed to ensure trading success. This detailed guide will put you in a better position to use technical analysis to identify profitable trades and exit losing trades; maximize the leverage available in futures and Forex, without endangering your capital base; and control risk by utilizing appropriate strategies for each type of opportunity and time frame.