Description - High Probability Trading by Marcel Link
More than 90 percent of all new traders lose money and are out of trading within six months. All traders, even highly successful traders, must pay a "tuition of trading" while they learn their craft. All traders lose money at the start, but the winners turn that around within a year and are soon achieving positive results. A combination of elements separates the few winners from the many losers: correctly using fundamental and technical analysis, developing and using an effective trading system, money management, a trading plan, and controlling emotions. High Probability Trading explains the realities of trading, why traders lose and what they must do to win. The book shows how successful traders react differently than losing traders to the same market scenarios. The author gives the detailed and comprehensive steps that must be taken to become a winning trader. The book takes the reader from the building blocks of trading to learning how to write--and have the discipline to follow--a winning trading plan. The book is divided into seven parts, each representing one of the seven steps to take that will lead to success.
Each part explores in detail one aspect of successful trading, including: The basic building blocks; Technical analysis; Fundamental analysis; Money management; Following a trading plan; Controlling emotions; Trading with a system; Intended for both day traders and longer-tem traders, High Probability Trading takes an honest and straightforward approach with no sugar-coating in discussing the traits of winning traders. The author uses real life examples and case studies based on himself, his clients, and other professional traders to highlight key points. This comprehensive guide makes extensive use of boxed tips, tables, charts, checklists, and worksheets to transform losing methods to winning methods. Each chapter ends with examples and summaries on good and bad trading habits, how to avoid simple mistakes, and how to pinpoint personal weaknesses.
Buy High Probability Trading by Marcel Link from Australia's Online Independent Bookstore, Boomerang Books.
(236mm x 162mm x 30mm)
Publisher: McGraw-Hill Education - Europe
Country of Publication:
Book Reviews - High Probability Trading by Marcel Link
Author Biography - Marcel Link
Marcel Link, a fully licensed commodities broker and CPO, is currently a proprietary trader for Schonfeld Securities in New York. He also owns and operates his own Web site (LinkFutures.com). The site, which receives about 10,000 impressions per day, provides daily commentary on the markets, technical analysis, training, marketing, and other information vital to traders. Previously, he was a floor trader at the New York Mercantile Exchange for British American Capital, Esco Commodities, and Cargill, where he also wrote several computerized trading programs and provided a bi-weekly newsletter to clients. He is licensed for NASD Series 3, 7, 55, and 63.