Make Money Trading

Overview

Want to be your own boss? Live independently? Take a more active role in managing your money?

That's what a trading business can mean for you -- money, independence, and complete control over your finances. But without the proper education, about 90% of people will fail. That's why this book is essential to your trading success.

Jean Folger and Lee Leibfarth present an organized, top to bottom look at what it means to start, run, and ultimately...

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Overview

Want to be your own boss? Live independently? Take a more active role in managing your money?

That's what a trading business can mean for you -- money, independence, and complete control over your finances. But without the proper education, about 90% of people will fail. That's why this book is essential to your trading success.

Jean Folger and Lee Leibfarth present an organized, top to bottom look at what it means to start, run, and ultimately succeed at the business of trading. As active traders with over 15 years of teaching and coaching experience, Jean and Lee wrote this book specifically to give you unlimited access to all the tools and skills necessary to becoming a profitable, self-sufficient trader.

Inside this book, you'll find information that will turn you from a spectator to a full-time pro!

>Gold mines and pitfalls of the Business of Trading:

- Learn what makes the markets tick to find your next big win,

- Essential risk management techniques to protect your gains,

- And detailed information on how technology can be your greatest asset--and make your life easier!

>How traders predict the markets:

- Explore the tenets of technical analysis

- Discover how to read the charts more accurately

- Confidently pinpoint the highest probability trades--and profit

> Secrets of disciplined trading:

- Discover the secrets to developing, testing, and building a successful trading plan that fits your personal style

- Use these crucial tips on backtesting, optimization, and evaluation to enhance your trading performance

Don't risk your money reinventing the wheel. Every detail you need to start or refine your trading business is in this book.

Packed with of examples, downloadable code, and worksheets, Make Money Trading is the ultimate resource for creating a winning trading business. Come discover what Jean and Lee already know-the joys of being an independent trader.

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Product Details

  • ISBN-13: 9781592803088
  • Publisher: Marketplace Books, Inc.
  • Publication date: 10/26/2007
  • Pages: 388
  • Product dimensions: 6.00 (w) x 8.90 (h) x 0.90 (d)

Table of Contents


Foreword   Toni Turner     ix
Introduction: What it Means to be an Independent Trader     xv
The Fundamental Concepts of Trading     1
Trading vs. Investing     2
Styles of Trading     5
Understanding Risk     8
Positive Expectancy     14
Optimal Risk     18
The Business of Trading     23
Protecting Capital     27
Getting an Education     31
Researching the Business     37
Building a Strategic Plan     42
Getting to Know the Market     47
The Stock Market     48
The Futures Market     60
The Forex Markets     67
The Tools of the Trade     73
Technology as a Tool     73
Setting up a Trading Desk     77
Purchasing/Leasing Trading Software     81
Choosing a Broker     87
Setting up a Trading Account     91
Charting the Market     97
Chart Types     98
Support and Resistance     106
Technical Indicators     120
Data Indicators     134
Chart Setups for Trading     138
PlacingTrades     145
Trade Dynamics     145
Order Types     151
Trade Examples     161
Trade Automation     167
Developing a Trading Plan     175
The Importance of Using a Trading Plan     175
Asset Allocation and Position Sizing     180
Trade Entries     188
Trade Exits     190
Strategy Types     195
Evaluating and Comparing Trading Plans     209
Defining Important Performance Metrics     212
Risk Measurements     218
Slippage and Commission     224
Optimizing and Over-Optimization (Curve Fitting)     225
Using In-Sample and Out-of-Sample Historical Data     227
Forward Performance Testing (Paper Trading)     230
Live Trading     233
Preparation     234
Staying Mentally Focused     241
Using a Trading Journal     244
Trade Automation     247
Trusting your Trading Plan     248
Evaluating Live Performance     251
Reviewing Trading Journals     252
Number Crunching     254
The Real Equity Curve     256
When to Abandon a Trading Plan      262
Record Keeping     265
Staying Organized     266
Creating a Trading Binder     268
Taxes for Traders     270
Top 10 Rules of Successful Trading     273
Sample Trading Plan     281
EasyLanguage Code for Sample Indicators and Strategies     287
Trader Worksheets     299
Glossary     305
Index     323
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