Something to Read - To Trade or Not to Trade: A Beginner's Guide - "You can be free. You can live and work anywhere in the world"

Something to Read - To Trade or Not to Trade: A Beginner's Guide - "You can be free. You can live and work anywhere in the world"

6 March 2015, 06:11
Sergey Golubev
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To Trade or Not to Trade: A Beginner's Guide
Dr Alexander Elder





  • You can be free. You can live and work anywhere in the world, be independent from the routine, and not answer to anybody.
  • This is the life of a successful trader.
  • Many aspire to it but few succeed. Newcomers often fail to prepare for the markets’ tough challenges. They keep making serious mistakes that could easily be avoided.
  • This book will help you decide whether trading is for you and teach you its key essential rules.
  • Success in trading is based on three Ms: Mind (psychology), Method (tactics), and Money (risk management). Each of these areas is covered in its own section of this ebook. The final section covers such practical topics as record-keeping, finding a broker, beginning to trade and continuing education.
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CONTENTS

How this book is organized / Free updates & the honor code / Is it possible to trade for a living? / Can anyone become a successful trader?

MIND - Trading Psychology for Beginners
What you need to succeed / Who should not trade? / No illusions / A trading aptitude test / Trading psychology resources

METHOD: Trading Rules for Beginners
Two ways to analyze markets / Mind the gap between price and value / Live data and day-trading / Going long, selling short, or spreading / What stocks to trade / Futures, options, and forex / Use multiple timeframes / Discretionary and systematic trading / Placing orders / Profit targets / Protective stops

MONEY MANAGEMENT for Beginners
The three essential numbers for every trade / The 2% Rule / The 6% Rule
Trade sizing - the iron triangle of risk control / What account size is good for beginners?

PRACTICALITIES for Beginners
Paper trading / Record-keeping / What is your edge? / Opening a brokerage account / Taxes / Continuing education: books, software, etc.

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