Trade Like a Casino (PDF)
Find Your Edge, Manage Risk, and Win Like the House
(Sprache: Englisch)
A detailed look at the common characteristics found in mostsuccessful traders
While there are a variety of approaches to trading in thefinancial markets, profitable traders tend to share similarunderlying characteristics. Most have a methodology that...
While there are a variety of approaches to trading in thefinancial markets, profitable traders tend to share similarunderlying characteristics. Most have a methodology that...
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A detailed look at the common characteristics found in mostsuccessful traders
While there are a variety of approaches to trading in thefinancial markets, profitable traders tend to share similarunderlying characteristics. Most have a methodology that theybelieve will prove profitable over the long run and are willing toendure short-term setbacks. If you're looking to make the most ofyour time in today's markets, you need to understand what separatesthe best from the rest. And with Trade Like a Casino, you'llgain the knowledge needed to excel at this challengingendeavor.
Engaging and informative, this reliable guide identifies andexplains the key techniques and mental processes characteristic ofsuccessful traders. It reveals that successful traders operate verymuch like a casino in that they develop a method that gives them"positive expectancy" and they unflappably implement the method inthe face of changing, and oftentimes volatile, market conditions.Page by page, the book explores the intricacies of methodology,mental control, and flexibility that allow traders to develop andmaintain the casino-like edge.
* Reveals how many successful traders tend to follow the samegeneral principles, even if their approach to trading maydiffer
* Explores how to account for the risk of being wrong and themarket moving against you
* Discusses how to develop an approach that combines tradeselection with sound risk management, avoids emotional attachmentto positions, exploits volatility cycles, and focuses on marketaction
Regardless of how you approach markets, the insights found herewill help improve the way you trade by putting you in a betterposition to distinguish the differences between successful andunsuccessful traders.
While there are a variety of approaches to trading in thefinancial markets, profitable traders tend to share similarunderlying characteristics. Most have a methodology that theybelieve will prove profitable over the long run and are willing toendure short-term setbacks. If you're looking to make the most ofyour time in today's markets, you need to understand what separatesthe best from the rest. And with Trade Like a Casino, you'llgain the knowledge needed to excel at this challengingendeavor.
Engaging and informative, this reliable guide identifies andexplains the key techniques and mental processes characteristic ofsuccessful traders. It reveals that successful traders operate verymuch like a casino in that they develop a method that gives them"positive expectancy" and they unflappably implement the method inthe face of changing, and oftentimes volatile, market conditions.Page by page, the book explores the intricacies of methodology,mental control, and flexibility that allow traders to develop andmaintain the casino-like edge.
* Reveals how many successful traders tend to follow the samegeneral principles, even if their approach to trading maydiffer
* Explores how to account for the risk of being wrong and themarket moving against you
* Discusses how to develop an approach that combines tradeselection with sound risk management, avoids emotional attachmentto positions, exploits volatility cycles, and focuses on marketaction
Regardless of how you approach markets, the insights found herewill help improve the way you trade by putting you in a betterposition to distinguish the differences between successful andunsuccessful traders.
Inhaltsverzeichnis zu „Trade Like a Casino (PDF)“
Preface xi Acknowledgments xvii Part I The Casino Paradigm 1 Chapter 1 Developing Positive Expectancy Models 3 Why Technical Analysis Helps 3 The Inefficient Market 6 If It Feels Good, Don't Do It 10 "Just Make the Money" 15 Final Thoughts 21 Chapter 2 Price Risk Management Methodologies 23 One Sure Thing 23 Base of Pyramid 26 Middle of Pyramid 37 Apex of Pyramid 47 Pros and Cons of the Risk Management Pyramid 49 Putting It All Together: A Case Study 49 Final Thoughts 51 Chapter 3 Maintaining Unwavering Discipline 53 Defining Discipline 53 Discipline and the Positive Expectancy Model 55 Types of Traders 61 Discipline and Price Risk Management 64 Patience and Discipline 67 Final Thoughts 70 Part II Trading Tools and Techniques 71 Chapter 4 Capitalizing on the Cyclical Nature of Volatility 73 The Only Constant 73 Defining Volatility with Technical Indicators 76 Building Positive Expectancy Models with Volatility Indicators 89 Final Thoughts 94 Chapter 5 Trading the Markets and Not the Money 95 Ten Thousand Dollars is a Lot of Money! 95 "Baby Needs a New Pair of Shoes" 99 Trading with "Scared Money" 100 Time is Money 101 Final Thoughts 104 Chapter 6 Minimizing Trader Regret 105 The Softer Side of Discipline 105 Issues for Trend-Followers 106 Issues for Mean Reversion Traders 113 Final Thoughts 123 Chapter 7 Timeframe Analysis 125 Traditional Timeframe Analysis 125 Timeframe Confirmation Trading 131 Timeframe Divergence Trading 131 Final Thoughts 142 Chapter 8 How to Use Trading Models 143 Mechanical Trading Systems 143 Nonmechanical Models 162 Equity Trading Models 170 Final Thoughts 175 Chapter 9 Anticipating the Signal 177 Always Trade Value, Never Trade Price 177 Support (and Resistance) Were Made to be Broken 179 Don't Anticipate, Just Participate 181 Final Thoughts 187 Part III Trader Psychology 189 Chapter 10 Transcending Common Trading Pitfalls 191 Characteristics of Market Behavior 191 Obstacle Makers to Growth as a Trader. 195 Final Thoughts 202 Chapter 11
... mehr
Analyzing Performance 205 A Due Diligence Questionnaire 205 Trading Journal 225 Final Thoughts 236 Chapter 12 Becoming an Even-Tempered Trader 241 The "I Don't Care Guy" 241 The Master Trader 244 Reprogramming the Trader 247 Flexibility and Creativity 248 Meditation 250 Visualization 251 Somatic Exercises 253 Final Thoughts 254 Notes 257 Bibliography 263 About the Author 265 Index 266
... weniger
Autoren-Porträt von Richard L. Weissman
RICHARD L. WEISSMAN is a trader, trading system developer, and educator on trading and risk management. As senior associate with the Energy Management Institute, he holds seminars and webinars for professionals on trading and risk management. Weissman is a former member and trader at the New York Futures Exchange. He has written articles on trading and technical analysis for a variety of industry publications and provides independent consulting services to traders and risk managers on technical analysis, derivatives, and trading system development. Weissman is also the author of the Wiley title Mechanical Trading Systems.
Bibliographische Angaben
- Autor: Richard L. Weissman
- 2011, 1. Auflage, 288 Seiten, Englisch
- Verlag: John Wiley & Sons
- ISBN-10: 1118137949
- ISBN-13: 9781118137949
- Erscheinungsdatum: 31.08.2011
Abhängig von Bildschirmgrösse und eingestellter Schriftgrösse kann die Seitenzahl auf Ihrem Lesegerät variieren.
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- Grösse: 42 MB
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Sprache:
Englisch
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