Something to Read - High Probability Trading : Take The Steps To Become A Successful Trader

High Probability Trading : Take The Steps To Become A Successful Trader

Before he became a successful trader, Marcel Link spent years wading from one system to the next, using trial and error to figure out what worked, what didn't, and why. In High Probability Trading, Link reveals the steps he took to become a consistent, patient, and winning trader--by learning what to watch for, what to watch out for, and what to do to make each trade a high probability trade.

"Why do a select few traders repeatedly make money while the masses lose? What do bad traders do that good traders avoid, and what do winning traders do that is different? Throughout this book I will detail how successful traders behave differently and consistently make money by making high probability trades and avoiding common pitfalls..."--From the preface

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 cliché, 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.