DESCRIPTION

(From The Jacket) – Within 6 months of beginning their careers full of promise and hope, most traders are literally out of money and out of trading. “High Probability Trading” reduces the likelihood that you will have to pay this “traders’ tuition” by detailing a market-proven program for weathering those first few months and becoming a profitable trader from the beginning.

Combining a uniquely blunt look at the realities of trading with examples, charts, and case studies detailing actual hits and misses of both short- and long-term traders, this straightforward guidebook discusses:

• The 10 consistent attributes of a successful trader and how to make them work for you
• Strategies for controlling emotions in the heat of trading battle
• Technical analysis methods for identifying trends, breakouts, reversals, and more
• Market-tested signals for consistently improving the timing of entry and exit points
• How to “trade the news”–and understand when the market has already discounted it
• Learning how to get out of a bad trade before it can hurt you

The best traders enter the markets only when the odds are in their favor. “High Probability Trading” shows you how to know the difference between low and high probability situations, and only trade the latter. It goes far beyond simply pointing out the weaknesses and blind spots that hinder most traders to explaining how those defects can be understood, overcome, and turned to each trader’s advantage.

While it is a cliche, it is also true that there are no bad traders, only bad trades. Let “High Probability Trading” show you how to weed the bad trades from your trading day by helping you see them before they occur. Packed with charts, trading tips, and questions traders should be asking themselves, plus real examples of traders in every market situation, this powerful book will first give you the knowledge and tools you need to tame the markets and then show you how to meld them seamlessly into a customized trading program–one that will help you join the ranks of elite traders and increase your probability of success on every trade.

TABLE OF CONTENTS

PART I: THE BUILDING BLOCKS

• Chapter 1 – The Tuition Of Trading
• Chapter 2 – Setting Realistic Goals
• Chapter 3 – Leveling The Playing Field

PART II: USING THE NEWS

• Chapter 4 – Trading The News

PART III: TECHNICAL ANALYSIS

• Chapter 5 – Increasing Your Chances With Multiple Time Frames
• Chapter 6 – Trading With The Trend
• Chapter 7 – Using Oscillators
• Chapter 8 – Breakouts And Reversals
• Chapter 9 – Exits And Stops
• Chapter 10 – Making The High Probability Trades

PART IV: TRADING WITH THE PLAN

• Chapter 11 – The Trading Plan And Game Plan
• Chapter 12 – System Trading
• Chapter 13 – A Little About Backtesting
• Chapter 14 – Employing A Money Management Plan
• Chapter 15 – Setting Risk Parameters And Making A Money Management Plan

PART V: SELF-CONTROL

• Chapter 16 – Discipline: The Key To Success
• Chapter 17 – The Dangers Of Overtrading
• Chapter 18 – The Inner Side Of Trading: Keeping A Clear Mind