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