Trade Like a Pro: 15 High-Profit Trading Strategies

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Overview

Financial markets have changed dramatically over the last fewyears, but there are still opportunities available within them. Andwhile there are no shortcuts to trading success, you can improveyour chances if you learn how to Trade Like a Pro. Nobodyunderstands this better than author Noble DraKoln, and with thistimely guide, he'll help you look at trading through the eyes of aprofessional and show you how to carve out your own path in themarkets with a set of strategies that ...

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Trade Like a Pro: 15 High-Profit Trading Strategies

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Overview

Financial markets have changed dramatically over the last fewyears, but there are still opportunities available within them. Andwhile there are no shortcuts to trading success, you can improveyour chances if you learn how to Trade Like a Pro. Nobodyunderstands this better than author Noble DraKoln, and with thistimely guide, he'll help you look at trading through the eyes of aprofessional and show you how to carve out your own path in themarkets with a set of strategies that will allow you to grow andpreserve capital.

Written with the serious trader in mind, this book skillfullyshows you how to: construct trades that carefully incorporate spot,futures, and options together; diminish your risk profile andmaximize profit potential; determine the risk/reward of staying ina trade; and much more.

Divided into three comprehensive parts, this reliable resourceopens with a detailed discussion of what it takes to transitionfrom the mindset of a retail trader to that of a professionaltrader. You'll gain valuable insights into the motivation,financial savvy, and psychological differences between professionaland retail traders, and become well equipped to deal with today'sdynamic markets. After this informative introduction, Parts Two andThree of Trade Like a Pro outline fifteen different high-profit,low-risk trading strategies. Nine basic strategies, which wereinitially introduced in DraKoln's previous book, Winning theTrading Game, are now analyzed in more depth, and six advanced riskmanagement strategies—meant to build upon the knowledge thatyou gain here—are also covered.

Included among the strategies are:

  • Using options as a stop or as a risk management tool
  • Creating synthetic options to minimize transaction costs
  • Using straddles and strangles to trade news events
  • Using collars to create limited loss/defined profitscenarios
  • Using spreads to take advantage of seasonal tendencies

Along the way, you'll also learn how to combine certainstrategies to improve your odds of success.

Trading is a difficult endeavor and requires a set plan builtaround proven strategies, discipline, and intelligent decisions.With Trade Like a Pro as your guide, you'll quickly discover how tocreate a plan that will allow you to manage risk and captureprofits in almost any market.

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Editorial Reviews

From the Publisher
Named a top investment book of the year by the Stock Trader’s Almanac 2010.
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Product Details

  • ISBN-13: 9780470287354
  • Publisher: Wiley
  • Publication date: 3/30/2009
  • Series: Wiley Trading Series, #383
  • Edition number: 1
  • Pages: 274
  • Product dimensions: 6.20 (w) x 9.10 (h) x 1.10 (d)

Meet the Author

Noble DraKoln is founder of SpeculatorAcademy.com, a futures and Forex educational company, where he focuses on the development, management, and promotion of the company's core philosophy of "focusing on the trader not the trading." Prior to this role, DraKoln served as the president of Liverpool Derivatives Group, Inc., a futures and Forex brokerage, for eight years and as a professional sugar trader. He speaks regularly at industry conferences in the United States and Europe and has written articles for numerous financial publications. DraKoln is also an NFA Arbitrator, as well as the author of the Wiley title Winning the Trading Game.

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Table of Contents

Preface.

Acknowledgments.

Part I. Designing the Trade.

Chapter 1. From Retail Trader to Professional Trader.

Transitioning from Retail Trader to Professional Trader.

Successful Professional Traders.

Tightening up Your Approach to the Markets.

Chapter 2. Markets and Margin.

Exchanges.

What Does This Mean for the Market?

Daisy Chain Effect.

Global Markets.

Becoming a Sophisticated Trader.

What Do These Changes Mean for Your Trading?

Chapter 3. Some Essentials of Trading

Three Different Types of Traders.

A Trader's Focus.

Essential Trading Concepts.

Using This Book to Its Fullest Potential.

Part II. Basic Strategies.

Chapter 4. Holding the Bull and the Bear by theTails.

Straddle, Strangle, and Execution.

Getting the Right Options for the Job.

Option Tutorial.

Sample Straddle and Strangle Write-up Sheets.

Conclusion.

Chapter 5. Precision Trading at Its Finest.

What is Hedge Trading?

Precision Trading Ground Rules.

Identifying Market Trends.

Conclusion.

Chapter 6. Trading with Hard Stops.

Stop Loss Order.

Options as an Alternative to the Stop.

Conclusion.

Chapter 7. The Markets on a Leash.

Collar.

General Collar Pitfalls.

Day Traders.

Conclusion.

Chapter 8. Replacing Traditional Options with SyntheticOptions.

Synthetic Option versus Standard Option.

When to Use a Synthetic Option.

Conclusion.

Chapter 9. Everything in its season.

Spread Opportunities.

Conclusion.

Chapter 10. Gunning for Premiums with CoveredOptions.

Problems with Selling Options.

Covered Option Trading.

Conclusion.

Chapter 11. Outflanking the Market.

Frontspreads and Backspreads.

Trading Backspreads.

Conclusion.

Part III. Advanced Strategies.

Chapter 12. Exposing Yourself to Loss.

Synthetic Futures, Long – Short.

Primary Drawbacks.

Inter-commodity Spread.

Primary Drawbacks.

The Bull Call Spread and Bear Put Spread.

Primary Drawbacks.

Conclusion.

Chapter 13. Advanced Option Selling Strategies.

Do 90% of Options Expire Worthless?

What to Expect When Selling Options.

Strangles, Straddles, or Naked Options.

Sell Straddle.

Sell Strangle.

Naked Option Selling.

Conclusion.

Chapter 14. Retreat, Recovery, Opportunity.

Manipulating the Strategies.

Conclusion.

Chapter 15. Analyzing Charts and Strategies.

S&P 500.

Euro.

Gold.

Corn.

Oil.

Conclusion.

Chapter 16. Applying These Strategies with Stocks.

Stocks.

Strategies.

Conclusion.

About the Author.

Index.

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Customer Reviews

Average Rating 2.5
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Sort by: Showing all of 3 Customer Reviews
  • Anonymous

    Posted April 8, 2015

    No substance, maybe worth the paper it's printed on. Another &qu

    No substance, maybe worth the paper it's printed on. Another "trader" turn author.

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  • Anonymous

    Posted July 11, 2012

    Great book, detailed, a lot of graphs charts and good explanatio

    Great book, detailed, a lot of graphs charts and good explanations

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  • Anonymous

    Posted September 5, 2010

    No text was provided for this review.

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