Electronic Trading 'TNT' II

"How to Win Trading Stuff"

How-to-Win Trading Stuff comes with a warning. "This book will take you apart at the seams, point out your weaknesses as a 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 and Mark ask that question of their students many times ­ nine out of ten of them do not 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?

How-to-Win Trading Stuff 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 to 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 electronic stock trading.

How-to-Win Trading Stuff teaches you how to conduct your trading as a professional manager of your trading business. This is vital to successful trading. This manual 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.

You are introduced to The Trading Plan. You are shown the kinds of information and records you should be keeping in order to become a winning trader. You are shown the kinds of questions to ask yourself, and the statistics you need to maintain to get you to the top and keep you there.

You are shown 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. You will see the problems that traders have to overcome in order to become top-notch winning traders. Then you are shown how to examine yourself for the weaknesses that will prevent you from being a winner.

You are shown 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. You are introduced to equity charting and shown how to use it and what it means for you. You are taught how to be among the elite few traders who win in the markets.

The manual shows you how to take profits regularly, what to expect in the way of profits, and how to keep losses small. You are shown how to take profits quickly and how to take profits slowly. You are presented with wisdom from the distant past, and wisdom from this modern era of trading. They teach you what wisdom is and where it fits into your trading.