Trade Like a Pro: 15 High-Profit Trading Strategies / Edition 1

Trade Like a Pro: 15 High-Profit Trading Strategies / Edition 1

by Noble DraKoln
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Trade Like a Pro: 15 High-Profit Trading Strategies / Edition 1

Praise for Trade Like a Pro

"Noble's commitment to the individual trader is exactly whattraders need during these volatile times. He has knowledge thatspans across markets and is worldwide. He is a valued contributorto the community, and this book furtherdemonstrates his dedication to educating traders and helping thembecome more successful."
—Lane J. Mendelsohn, Publisher,

"In a time when, on a global level, important things arehappening to the financial industry, when new profit opportunitiesas well as risks are revealed, the book Trade Like a Pro offers acomplete picture concerning the risk administrationtechniques."
—Teodor Ancuta, President and General Manager, Sibiu StockExchange

"Trade Like a Pro is a comprehensive presentation of all thebasic trading strategies that belongs in every investor's library.Whether your specialty is futures, options, or stocks—or, forthat matter, a combination of all three—you will find yourselfgoing back to this valuable reference guide again and again.Everything rings true. Moreover, the author gives you the pros andcons of each respective strategy without imposing his own point ofview. Well researched and presented."
—George Angell, author of Small Stocks for Big Profits andWinning in the Futures Market

"Armed with good intentions, most new traders are unaware of therealities involved. Although there is often the belief among novicetraders that profitability will be easy, the evidence stronglysuggests otherwise. In his new book, Trade Like a Pro: 15High-Profit Trading Strategies, Noble DraKoln offers a thoughtfulapproach to making the transition from unsuccessful retail traderto the arena of the professional, which is imperative for lastingsuccess as a trader."
—Ron Rossway, President, Denver Trading Group

Product Details

ISBN-13: 9780470287354
Publisher: Wiley
Publication date: 03/30/2009
Series: Wiley Trading Series , #383
Pages: 288
Product dimensions: 6.20(w) x 9.10(h) x 1.10(d)

About the Author

Noble DraKoln is founder of, 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.

Table of Contents



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.


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.


Chapter 5. Precision Trading at Its Finest.

What is Hedge Trading?

Precision Trading Ground Rules.

Identifying Market Trends.


Chapter 6. Trading with Hard Stops.

Stop Loss Order.

Options as an Alternative to the Stop.


Chapter 7. The Markets on a Leash.


General Collar Pitfalls.

Day Traders.


Chapter 8. Replacing Traditional Options with SyntheticOptions.

Synthetic Option versus Standard Option.

When to Use a Synthetic Option.


Chapter 9. Everything in its season.

Spread Opportunities.


Chapter 10. Gunning for Premiums with CoveredOptions.

Problems with Selling Options.

Covered Option Trading.


Chapter 11. Outflanking the Market.

Frontspreads and Backspreads.

Trading Backspreads.


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.


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.


Chapter 14. Retreat, Recovery, Opportunity.

Manipulating the Strategies.


Chapter 15. Analyzing Charts and Strategies.

S&P 500.






Chapter 16. Applying These Strategies with Stocks.




About the Author.


Customer Reviews

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Trade Like a Pro: 15 High-Profit Trading Strategies 2.7 out of 5 based on 0 ratings. 3 reviews.
Anonymous More than 1 year ago
No substance, maybe worth the paper it's printed on. Another "trader" turn author.
Anonymous More than 1 year ago
Great book, detailed, a lot of graphs charts and good explanations
Anonymous More than 1 year ago