TRADING IS A BUSINESS
by Joe Ross
Trading Is a Business comes with a warning. In part it says, "This book will take you apart at the seams, point out your weaknesses as a futures trader, and then attempt to resurrect you as a successful, self-disciplined person who can control his trading in a businesslike manner."
As a trader, do you know what business you are in? Joe has asked that question of his students numerous times - nine out of ten of them don't know! How can anyone be successful as a trader when he doesn't even know what business he's in? Can that be one of the reasons why nine out of ten traders fail to make money in the markets?
Trading Is a Business teaches you how to conduct your trading as a professional manager of your trading business. This is vital to successful trading. This book points out the fallacies that many traders hold so dear. Believing in these fallacies, they couldn't win at trading even if the markets sat up and begged them to do so. This book teaches you what different orders mean and how to use them, and how to deal with your broker so that you, not the broker, come out on top.
Trading Is a Business explores in detail trade, risk, and money management, and the psychological strengths and weaknesses that cause you to overtrade, under-trade, fail to "pull the trigger," or stay in too long, while you sit there and watch your profits turn into losses. You are introduced to concepts and methods that few have ever considered when entering the world of futures trading.
Management Tasks:
Joe Ross introduces you to The Trading Plan. He shows you the kinds of information and records you should be keeping in order to become a winning trader. He shows you the kinds of questions to ask yourself, and the statistics you need to maintain to get you to the top and keep you there.
Joe shows you how to use The Life Index in order to overcome weaknesses in each aspect of your life that can cause you to fail as a trader. He describes to you the problems he had to overcome in order to become a top-notch winning trader. Then he shows you how to examine yourself for the weaknesses that will prevent you from being a winner.
He shows you what it really means to let profits run and why you don't know how to do it. You see how and why you end up throwing good money after bad, and what to do about it. He introduces you to the "real" trading cycle and tells you what it means for you. He teaches you how to be among the elite few traders who win in the markets.
The book shows you how to take profits regularly, what to expect in the way of profits, and how to keep losses very small. You are shown how to take profits quickly and how to take profits slowly.
Trading Is A Business is an excellent book. Most futures trading books simply rehash general information--or worse, promote questionable methods--and traders are no wiser after reading them. Trading Is A Business breathes life, with examples that are both vivid and sound, into the concepts of money management and self-management.
ZH, New York
I received your book "Trading is a Business" on July 16, 1993. Your book, far and away, is the best book I've ever read on the commodity markets. ... I've only had it 3 days now, but I've read it twice already and I can't put it down.
DL, Texas
When people at the Minneapolis Grain Exchange ask me what I am doing, I recommend that they read your books. I tell them that the best market book I have ever read is "Trading is a Business." I find myself re-reading the first section all the time.
LS, Minnesota
I have been conducting classes on futures trading for over 5 years. ... Your "Trading is a Business" is a classic, and is now mandatory study.
RT, Canada
Finally, you are presented with wisdom from the distant past, and wisdom from this modern era of trading. Joe teaches you what wisdom is and where it fits into your trading.
"Trading is a Business" is the best book I have read in the field of futures trading. Thanks for writing it. I appreciate your teaching very much.
PN, Virginia