Make Money Trading: How to Build a Winning Trading Business
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| Author(s) | , |
|---|---|
| Format |
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| Pages |
386 |
| Published Date |
2007 |
Make Money Trading moves forward in a logical and well-organized progression, from establishing overall trading business goals and defining objectives, to an evaluation process that includes historical modeling, forward performance testing, and live market testing. The trader’s research and work in these areas, using the guidelines described in the book’s chapters, should culminate in a fully developed trading plan. Of course, the plan’s success will be put to the ultimate test in a live trading scenario that finalizes in a profit/loss statement.
Introduction:
What makes a book worth reading? As a writer myself, I look for compelling, timely, and well-organized material presented in a reader-friendly style. As a trader and student of the financial markets, I look for valuable information that will make my journey in this arena a richer and more profitable experience. To my delight, I’ve found that Make Money-Trading: How to Build a Winning Trading Business, has fulfilled my demands and expectations. Jean Folger and Lee Leibfarth have written an excellent and enjoyable book that offers a significant ROI (return on investment) in exchange for the time spent absorbing its high-quality content.
Make Money Trading establishes another ongoing theme: that capital preservation should remain first and foremost in every trader’s and investor’s mind. I often tell my students to ask themselves before entering each trade: Am I protecting my capital? If for any reason the answer is no, (think: lack of, or avoidance of, a protective stop, chasing a stock, overtrading, greed-driven share size), then the trader should remove his hand from his mouse and be grateful that what might have been a costly “joyride” was aborted.
Again, this book is all about the business of trading. It is up to the reader to explore and expand his or her knowledge of certain components of the process, such as candlestick trading technology, chart indicators and oscillators, volume signals and the interpretations of price patterns. The challenge of coming to the end of a really good book is where to start—how to put all the great ideas in the pages into action. Even though I’ve been a trader and investor for more than sixteen years, I continue to learn from others. I will go back through this book’s pages and revisit all the highlighted sentences and sections that drew my attention. Then I’ll plan new strategies based on those ideas.
Was this book worth reading? Absolutely! Compelling, timely, well-or-ganized and reader-friendly? For sure! I am confident that whether you’re a trader or investor—novice or more experienced market veteran—Make Money Trading will act as a valuable tool to help you develop your trading career into a successful—and winning—business!
Contents:
- The Fundamental Concepts of Trading
- The Business of Trading
- Getting to Know the Market
- The Tools of the Trade
- Charting the Market
- Placing Trades
- Developing a Trading Plan
- Evaluating and Comparing Trading Plans
- Live Trading
- Evaluating Live Performance
- Record Keeping
- Top 10 Rules of Successful Trading
Make Money Trading: How to Build a Winning Trading Business By Jean Folger and Lee Leibfarth pdf
8 reviews for Make Money Trading: How to Build a Winning Trading Business
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Teresa Villarreal (verified owner) –
I am using this book as a reference quite a lot and it definitely has some good tips for newbies starting their own trading business. Highly recommended for pointing out all the things we take for granted (trading plan, money management etc) but never really follow until it is too late.
Laney Armstrong (verified owner) –
The name is a little cliche, but this book is helpful in explaining some of the basics as well as more advanced trading concepts. I enjoyed and found useful the charts that accompany the text. The tone of the book is professional but written in plain English so I could really understand the material. This is the type of book that will be referenced frequently.
Dylan Melton (verified owner) –
Few books offer what the authors present in Make Money Trading. They provide a comprehensive treatment of the necessary conditions to make trading work but they take it a step further. While many authors deal in platitudes, which become tiresome as one gains experience in the market, this book gives concrete strategies that can be tested on just about any platform. Not only do they explain what a trend-following approach is vs. say a swing trading style they outline an example of each with well defined rules for entry, exit, position-sizing, etc.
What is very important is that they do not treat the systems presented as “holy grails”, but rather a starting point for development (simple systems, though, like the ones in this book can work extremely well). I am a systematic trader who only trades mechanically and that is why I like this book so much for anyone getting started as it underscores the importance of having a well defined plan.
Stephanie Nelson (verified owner) –
Be warned. You are wasting your money buying this book.
Kamiyah Arellano (verified owner) –
I am a visual learner, and the illustrations/figures in the book are helpful in explaining key concepts. The book finally made evident to me the importance of understanding risk in trading. I’ve read over and over things like “keep your losses small, and let your runners win” but I never really understood why I could have a trading system that wins 80% of the time and still have a losing system. This book spells out the interrelatedness of profit targets, stop losses, percent profitable, average win and average loss. It provides a clear, systematic approach to system development that includes some of the realities of trading (like if it looks too good to be true on paper it most certainly will be in live trading). The book also provides several strategy examples that were really helpful to me.
Grant McLaughlin (verified owner) –
Last year I decided to become more active in the market and have been reading a lot and attending classes. If I had no background then this may have been a better book, but the material seems dated, especially with regard to leverage and computer based trading systems.
Jakob Phelps (verified owner) –
As a medium-level trader, I thought I would learn something from this book. I was very disappointed in that it is a collection of very basic concepts. Certainly not enough to make money trading. A more appropriate title, given its emphasis on risk management would have been “Lose less money trading”.
Kellan Guevara (verified owner) –
Great read. New to investing and at first I thought I had made a mistake in buying this book. Got into it and opened my eyes to challenges and solutions to investing in stocks. Good read for the novice and the seasoned investor.