Trend Trading for a Living: Learn the Skills and Gain the Confidence to Trade for a Living
$21.58
| Author(s) | |
|---|---|
| Pages |
359 |
| Format |
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| Published Date |
2008 |
In Trend Trading for a Living, the trading coach and hedge fund manager known on Wall Street as “Dr. Stoxx” shares his personal strategies for analyzing markets, picking stocks, and knowing when to buy and sell.
Introduction:
LET’S talk about your interest in the financial markets.We’ll start with the hardest truth of all: it’s difficult to turn profits and earn a living through the trading game. After all, no one but the mint is printing money, nor does it grow on trees.
So here’s the bottom line for anyone wanting to trade stocks, currencies, or futures. You’ll either earn your suc-cess through hard work or lose your stake and move on. Trading has a mathematical advantage over investing, and good traders will make more money over less time than good investors. But the devil is in the details. It’s the trader’s job to capture volatile price swings that flatten out over the holding period of a buy-and-hold investor. As a result, they need to master the challenging skill of time management.
Take this pursuit seriously, and find a strategy that capitalizes on market movement. Indeed, your success or failure depends on the path you choose. The most danger-ous road chases profits without an understanding of down-side risk. The safest course builds skills one step at a time and acts defensively when things go wrong. Fortunately, you’ve found your way to Thomas Carr’s excellent book on trend trading. This informative text opens the market vault to new and experienced traders, welcoming them into our discipline with open arms. Indeed, you’ll find everything you need to get started on the road to trading profits in these enlightening pages.
But don’t stop your education there. Developing supe-rior trading skills is a lifetime pursuit, in which we’re con-stantly on the hunt for new ideas, methods, and strategies. This active learning process keeps our game fresh in a predatory market world that takes no prisoners. Make sure your trading matches your lifestyle. You can lose a lot of money when your reach exceeds your grasp. Don’t trade every tick if you can’t follow the market in real time. Don’t day-trade your investments or buy and hold your trades. Never use the market as your therapy for personal problems. It makes a terrible cellmate.
Watch the clock, and become a survivor. Develop a sense of how stocks react to different cycles. Learn the unique traits of the market day, week, and month. These repetitive tendencies affect how prices move and how traders trade. And they reveal telling quirks that produce high-probability trades.
Contents:
PART ONE : Preliminaries
- What You Need to Get Started
- Becoming a Chart Reader
- Developing a Trader’s Mind
- The 10 Habits of Highly Successful Traders
PART TWO : Trend-Trading Basics
- What Is Trend Trading?
- Setting Up Your Watch Lists
- Determining General Market Direction
- Put Your Market-Reading Skills to the Test
PART THREE : Get Started in Trend Trading
- Selecting Bullish Stocks to Trend-Trade
- Selecting Bearish Stocks to Trend-Trade
- Entries and Exits
PART FOUR : Trend Trading with Options
- Options Basics
- Options Strategies: Bullish Trends
- Options Strategies: Bearish Trends
- Options Strategies: Neutral
PART FIVE : Trading for a Living
- The Bigger Vision: Where Trend Trading Can Take You
Trend Trading for a Living: Learn the Skills and Gain the Confidence to Trade for a Living By Thomas K. Carr pdf
13 reviews for Trend Trading for a Living: Learn the Skills and Gain the Confidence to Trade for a Living
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Shepherd Ortiz (verified owner) –
Definitely liked stock selection idea
Edwin Kaur (verified owner) –
Very nice!
Tiffany Crawford (verified owner) –
I didn’t know the author and reading this book was particularly instructive. Very concrete and able to provide immediately applicable notions and trading systems. A very good book on trading mainly based on technical analysis with some fundamental analysis principles. Definitely recommended.
Scout Guzman (verified owner) –
Clear, concise and inspirational for all ages of traders. Being a young trader I was looking for a book to help me develop a system I can put into practice to help me understand and get consistent returns in the market. Dr. Carr is very clear and provides great overall advice on how to approach life as a trader and how to get your edge in the market.
Anna Montes (verified owner) –
Helpful techniques for market timing
Holland McGuire (verified owner) –
Very easy read. charts are clear. technical analysis is explained well. Good read
Antonella Aguilar (verified owner) –
I’ve read a couple of his books and now trade a bit most days of the week as I can sneak it into my day. This trading has managed to change my families lifestyle. I do still work a “day job” full time for 8 months of the year, but I now take a couple months off in the winter and am able to go on vacations. Trading is hard work, but Dr. Carr lays out safe methods that one can make their own. I now follow him on StockTwits and love the information I get there, as well!
Darren Nava (verified owner) –
I’ve read 1000 books on trading. Studied the markets 30 years. Became a success with my Zen attitude. This is my #1 book to teach my daughter. Simple models work. Read this book ten times. Trade simply every other day. Follow the rules to the letter. The first book—Micro trend trading—should be read together with this one. All you need is to learn how to read market volume and momentum and direction. If the day fits your model, trade. Avoid sideways markets. Trade the Bull. Trade the Bear. And trade without becoming greedy. Small, consistent gains grows your money. Avoid big losses.
Andrea Schwartz (verified owner) –
I have tried to read multiple stock market/trading books in the past with little success. This book makes it easy to understand and with him telling you about his back story about failures and success makes it more real to the reader. I would highly recommend this book to a new trader.
Benicio Nichols (verified owner) –
Dr. Stoxx provides a strong proven strategy to outperform the markets. He also provides several newsletters to help all kinds of investors. His idea of generating income so that he can be generous to those around him is refreshing. Highly recommend to all kinds of investors, new, intermediate, or highly experienced.
Frank Huff (verified owner) –
Dr. Carr is philosopher turned trader with practical recommendations on how to play price movements and read charts whole taking advantage of underlying fundamentals and sentiment. I enjoyed digging into his methodology and genuinely enjoyed the back testing of strategies suggested as proof points. While it’s not a beginner’s book in my view, it’s certainly worth picking up to advance your knowledge of trading a strategies for limiting risks while generating big upside alpha.
Miriam Orr (verified owner) –
Dr. Carr’s ‘Trend Trading for a Living’ is a comprehensive guideline for anyone whose goal is to trade full-time eventually. It covers the basics of trading, technical analysis, psychology, strategies and risk management. Each strategy thoroughly covers how to build a scan in order to identify candidate stocks, example(s) and performance data based on five years of backtest. One can start by getting acquainted to one or two of these strategies based on what resonates more. Also in this book Dr. Carr takes us along his own trading journey which keeps the reading more real and organic. I think another advantage of this book is that the support can extend beyond this book by the subscription services offered (DrStoxx.com) which helps to see the application and performance of the trading process discussed in this book in the current market. I find this book comprehensive, clear, and actionable.
Melany Chan (verified owner) –
I’m relatively a new trader with a few years of independent ‘investing’ long term experience then early in 2020 I ultimately liquidated my longs and switched to trading. I’ve been successfully (profitable) swing trading now for a little over a year. Reading this book has pointed out many of the costly mistakes I’ve made in the past year.
In the past year I’ve read 11 books on day trading, swing trading, and longer term trading. ‘Trend Trading for a Living’ is by far the most informative and practical text I’ve read. I’m not sure if this book would have been as beneficial to me when I first started trading but I will state that it’s much easier for me to comprehend and embrace what’s written now that I have some experience. In any event I highly recommend reading this book and come back to it as a permanent reference. There is a significant amount of quality information, advice, rules to follow, and warnings in the book – not easy to remember them all.
In the Kindle version the charts are small as some have stated here in the comments, however with some trading experience you don’t need to see the granular details of each figured chart, the concept being made or supported by the figure is easy to realize & understand.