Essential Factors for Being a Successful Commodity Trader How to Profit and Succeed in the Markets in Ways You Never Thought Of |
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Author:
| Abraham, Andrew |
Series title: | Trend Following Mentor Ser. |
ISBN: | 978-1-4827-2140-9 |
Publication Date: | Mar 2013 |
Publisher: | CreateSpace Independent Publishing Platform
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Book Format: | Paperback |
List Price: | USD $9.99 |
Book Description:
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Successful trading is not what you think. There's more To Trading than Just Having a StrategyIn trading magazines as well as web sites that list trading system results they all seem to highlight "the trading strategy of the month". If it were so simple to buy one of these systems you would have retirement in a box.The problem is that strategies Do NOT make a good trader. This book is not about any magical methodology or indicator that claims win rates of 80% or more (by the way the...
More DescriptionSuccessful trading is not what you think. There's more To Trading than Just Having a StrategyIn trading magazines as well as web sites that list trading system results they all seem to highlight "the trading strategy of the month". If it were so simple to buy one of these systems you would have retirement in a box.The problem is that strategies Do NOT make a good trader. This book is not about any magical methodology or indicator that claims win rates of 80% or more (by the way the vast majority only lose money chasing these type of concepts). Actually this book will hopefully give you an "AHA" experience what successful investing is really all about. True successful investing is never taught in school or even graduate school. More so in my career spanning more than 19 years I never came across a book that really taught what successful investing is. This book was written for my children whom I have been teaching trading since they have been 12 and 13. It was written for them in order to be independent traders that are consistent and profitable over long periods of time. I shared this book with my colleagues and they urged me to have it published in order that others can benefit. This book is not on any specific trading system or trading indicators. There are too many books already on trading methodologies that Amazon can even publish. This book is different. It is not about finding the Holy Grail system or "Perfect" trading indicators. First of all they do not exist. If they did some Hedge fund or trading group with a great deal of money would simply buy the technology and start printing money. Hopefully this book will help you grow into the successful trader you want to become. This is my goal. You will have to work in ways that you probably did not think to. Most new traders do not think they will have to work. They think trading is "easy". They underestimate how hard trading really is. Too many traders go to a weekend course, read a trading book or buy a trading robot. The inevitable occurs that they have a couple of wins and a couple of losses. After experiencing a loss or a bad week, too many traders give up and start looking for, or start trading a different strategy. While the trading strategy they just abandoned is recovering from the drawdown, the new trading strategy may result in yet more losses, so again, they start looking for another. It becomes a vicious cycle. There are always a series of losing periods and the trader says" GET ME OUT OF HERE" or this methodology is junk. They go to another course from some "Guru" or read another trading book. They trade the strategy for a while and again the inevitable happens. Some trades work and some do not and then experience a series of losses. The cycle repeats again and again. Successful trading is to understand what to expect and how to temper those expectations. Let's begin the journey!