Diary of a Professional Commodity Trader: Lessons from 21 Weeks of Real Trading

In Diary of a Professional Commodity Trader, Brandt shares the experiences he has gained trading price charts over the years, and through a real-time journal―which spans an arbitrary time frame of 21 weeks (from December 2009 to April 2010)―skillfully shows how he goes about the difficult endeavor of trading the commodity and forex markets using classical charting principles.  Divided into four comprehensive parts, this personal and unique guide clearly reveals the uncertainty and emotions that surround trading and details an effective approach towards speculation that will give you an edge. Page by page, it:

• Offers a real-time, play-by-play account of Brandt’s trading activities the good, the bad, and the ugly during his 21-week journey, and provides valuable insights into market analysis, trade identification and selection, and risk management
• Highlights the basic building blocks of the author’s Factor Trading Plan and examines how his plan continues to evolve with the markets
• Emphasizes the central role risk management plays in market speculation an even more important role than market analysis or trade selection
• Reveals trading as a fundamental battle to overcome your basic human emotions
• And much more

Unlike most books on this subject, which try to tell you how to trade, Diary of a Professional Commodity Trader offers a rare look at the realities of this discipline and provides you with a firm understanding of what it really takes to improve your performance over the long term.

Author’s Note:

One of the first things I check out in a new book is the number of pages prior to Chapter —long book introductions put me to sleep. I will assume that most of you are like me—you want to cut to the chase. The last thing I wanted to do was write a book with a lengthy introduction, but my opinion has changed now that I’m on the author’s side of the equation. It turns out introductions can be useful in providing necessary context and perspective for a book. And so, please forgive me for committing the sin I have always disliked—I think it will be worth it.

This is a book about me as a trader of commodity and forex markets and how I use price charts in my craft. I think of it as a mosaic: eventually the parts of this book will tie together in the same way that a good mosaic becomes visible only in its entirety. Piece by piece or section by section, a mosaic makes no sense. Only at a distance and in its fullness does a mosaic gain clarity and perspective. The concept of a mosaic describes how this book will unfold. First, a bit about how I got started in the business.

Contents:

• The History and Theory of Classical Charting Principles
• Building a Trading Plan
• Identifying the Trades and the Trading Vocabulary
• Ideal Chart Patterns
• How the Factor Trading Plan Works
• Three Case Studies Using the Factor Trading Plan
• Characteristics of a Successful Trader
• Month One
• Month Two
• Month Three
• Month Four
• Month Five
• Analysis of Trading Performance
• The Best Dressed List

Diary of a Professional Commodity Trader: Lessons from 21 Weeks of Real Trading By Peter Lewis Brandt pdf