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The Way to Trade: Discover Your Successful Trading Personality

Book Description

Most people lose in the markets for one simple reason - they trade emotionally. Good trading is not a question of doing, it is a question of being. How do you trade? Trading is a life experience. It is not like any other business. The beauty of trading is that it becomes an expression of your own personality. The truth is, good traders don't do, they simply are. And to become a good trader you have to create a model built around an approach that suits you. The Way to Trade will help you do just that. Find your own route to success.

Table of Contents

  1. Cover
  2. Publishing details
  3. About the Author
  4. Why you need this book
    1. Why this book is unique
    2. There are no right or wrong ways to trade
    3. Follow your own path
  5. Foreword by Dr Alexander Elder, Financial Trading Inc.
  6. Introduction
  7. Acknowledgements
  8. Section 1: THE UNDERLYING PHILOSOPHY
    1. Chapter 1: AN INTRODUCTION TO THE TRADING PYRAMID
      1. The Trading Pyramid
      2. SUMMARY
    2. Chapter 2: THE EVOLUTION OF A TRADER AND THE 55 STEPS
      1. The three stages
      2. The 55 steps (a personal journey to success)
      3. SUMMARY
    3. Chapter 3: THE HUMAN BRAIN
      1. Structure of the brain
      2. Trading Chaos
      3. SUMMARY
    4. Chapter 4: YOU – THE FIRST LEVEL OF THE PYRAMID AND WHY
      1. The trading experience
      2. SUMMARY
    5. Chapter 5: COMMITMENT
      1. The nature of the market
      2. Market Profile
      3. SUMMARY
    6. Chapter 6: DISCIPLINE
      1. Discipline and the Trading Pyramid
      2. System parameters
      3. SUMMARY
    7. Chapter 7: MONEY MANAGEMENT
      1. Using Money Management
      2. Position size
      3. Monitoring position
      4. SUMMARY
    8. Chapter 8: RISK CONTROL
      1. Risk inherent in the vehicle
      2. Risk inherent in the market
      3. Other forms of risk
      4. SUMMARY
    9. Chapter 9: THE THREE SIMPLE RULES (OR TRADING SECRETS) 3 2 3
      1. The trading secrets
      2. Following the rules
      3. SUMMARY
    10. Chapter 10: SYSTEM PARAMETERS – THE THINKING BEHIND SYSTEM DESIGN
      1. Buying options
      2. Writing options
      3. Futures
      4. Designing a system
      5. SUMMARY
    11. Chapter 11: SYSTEM PARAMETERS – SIMPLE TRADING RULES AND THE HUMAN BRAIN
      1. Systems
      2. The human brain
      3. SUMMARY
    12. Chapter 12: DEVELOPING YOUR METHODOLOGY
      1. Time frame
      2. Trading type
      3. Analysis type
      4. Money Management (MM)
      5. Risk control (RC)
      6. Entry methodology (EM)
      7. Exit methodology (ExM)
      8. Interview with an institutional trader
      9. SUMMARY
    13. Chapter 13: OPERATION
      1. The set-up
      2. Problems with operation
      3. SUMMARY
      4. Chapter 14: THE WHOLE STRUCTURE = PROFIT/LOSS
      5. SUMMARY
    14. Chapter 15: STOPS AND ACCEPTANCE
      1. Are stops necessary?
      2. Stop approaches
      3. Acceptance
      4. SUMMARY
    15. Chapter 16: A TRADING COACH?
      1. The benefits of working with a coach
      2. Adrienne Toghraie
      3. First steps
      4. SUMMARY
  9. Section 2: MARKET TECHNIQUES AND METHODOLOGIES
    1. Chapter 17: SOME POINTS OF PRINCIPLE
      1. More general points
      2. Low risk trading opportunities
      3. Trading tips
      4. SUMMARY
    2. Chapter 18: MARKET PROFILE AND MINUS DEVELOPMENT
      1. Market Profile
      2. Minus Development
      3. Value
      4. Other concepts
      5. TTT article
      6. Trading tips with Market Profile
      7. SUMMARY
    3. Chapter 19: FUTURES AND OPTIONS
      1. Stocks
      2. Futures
      3. Options
      4. SUMMARY
    4. Chapter 20: SPIKY ACTION
      1. Trading Trend
      2. Types of spike
      3. SUMMARY
    5. Chapter 21: AN OPTIONS STRATEGY
      1. The options strategy – principle
      2. The options strategy – operation
      3. Options – the hedging strategy
      4. SUMMARY
    6. Chapter 22: A NUMBER OF FUTURES STRATEGIES
      1. Gap opens – code word: goose
      2. Failed breakthroughs – code word: goat
      3. Failed re-tests – code word: snake
      4. Square congestion – code word: box
      5. Key levels – code word: piano
      6. Elliott Fives – code word: illusion
      7. Aborted patterns – code word: platypus
      8. Trend following – code word: horse
      9. Corrective action
      10. Other systemized approaches
      11. SUMMARY
    7. Chapter 23: SYSTEMS
      1. Stops
      2. One secret to success
      3. A few additional comments
      4. My own trading
      5. My trading rules
      6. Risk warning/disclaimer
      7. It doesn’t end here
      8. SUMMARY
    8. Chapter 24: TRADING SYSTEMS AND WHEN TO USE THEM
      1. Trading systems
      2. How to make a fortune trading futures
      3. SUMMARY
    9. Chapter 25: MARKET MYTHS
      1. Indicators and market techniques
      2. News
      3. Zero sum? Don’t you believe it!
      4. Systems
      5. SUMMARY
    10. Chapter 26: THE 10-STEP APPROACH TO FUTURES AND OPTIONS TRADING
      1. Step 1: Where am I now?
      2. Step 2: Where do I want to go?
      3. Step 3: Survival (1)
      4. Step 4: Survival (2)
      5. Step 5: Methodologies
      6. Step 6: Theory
      7. Step 7: Practice
      8. Step 8: Fear
      9. Step 9: Running profits
      10. Step 10: Expertise
      11. The consultancy service
      12. SUMMARY
  10. Section 3: A CHART TUTORIAL
    1. Chapter 27: LOW RISK TRADING OPPORTUNITIES ON U.S. AND U.K. MARKETS
  11. Section 4: AN OPTIONS TRADING CAMPAIGN
    1. Chapter 28: A WAR OF ATTRITION
  12. EPILOGUE
  13. APPENDICES
    1. Appendix 1: FOLLOW-UP SERVICES
    2. Appendix 2: THE TROUBLED TRADER by Tony Plummer, MSTA
    3. Appendix 3: RECOMMENDED READING
    4. Appendix 4: TRADING AND PSYCHOLOGY QUESTIONNAIRE by Tony Plummer, MSTA
      1. Trading
      2. Personal
    5. Appendix 5: IS ELLIOTT ADDICTIVE?
    6. THE FORTUNE STRATEGY
      1. FIRST EXTRACT – MILESTONES
      2. SECOND EXTRACT – A QUESTION OF BALANCE – THE KEY FACTORS DETERMINING OVERALL SUCCESS IN THE MARKETS
      3. MARKETS TODAY
      4. THE P/E RATIO ON THE S&P
      5. STRUCTURAL PROBLEMS
      6. CONCLUSION