Study the ideas presented in Professional Trading Techniques but then prove to yourself that they work. Keep what makes sense to you and find ways to make the material your “own”, for this is how it will have of most value to you. Doing your own analysis, study and research is the fastest way to build confidence in a trading process.
The mastery of trading is a never-ending pursuit. Knowledge of and confidence in a workable methodology is just a departure point. Consistency in the approach and application of a particular technique will be the real key to a trader’s success. So, though initial market and trading theory is important, it is not until a trader attempts to put actual technique into actual practice that the real learning begins.
All methods begin with the laying down of structure and rules – however, these are ultimately meant to serve as guidelines. A newer trader will do best to follow these guidelines as closely as possible and in doing so, should meet with a modicum of success. As a trader develops more expertise, they will be better able to recognize when certain market conditions are changing and when “rules” can be given more flexibility. If a trader’s bottom line starts to suffer, though, they will do best to go back and follow the guidelines and rules as possible.
Self-study is just as important to successful trading as is the study of price behavior or technical analysis. A trader must maintain an even temperament, an orderly composure and a calm mind. They must have the confidence to believe in their own trading decisions without looking to outside sources for validation or confirmation. Dedication, persistence and patience are required for success and ultimately, mastery.
This in-depth manual is designed to provide you with techniques and tools to give you an edge in trading. However, those who crave success must ultimately still do their own research in order to develop their own trading process. Though all the tools necessary to design your own trading program are contained in this manual, the time necessary to gain in experience is always the most underestimated part of the equation. Experience is applying the trading process in a consistent fashion until it becomes ingrained in your trading personality and is part of your routine.
Understanding the next most “probable play” needs to become second nature. The ability to then act on this information is the goal. Cumulative successful results are achieved by following this process on a daily basis. As with any performance-oriented discipline, you must enjoy the day to day process that makes up the journey if you are to be successful.
- The Nature of The Game
- Trading With The Edge
- Principles of Price Behavior
- Technical Indicators
- Tape Reading – Monitoring Markets For Confirmation and Aberrations
- PIVOT POINTS
- SWING TRADING CONCEPTS AND TRADING STRATEGIES
- TRADE EXECUTION
- TRADE MANAGEMENT and EXITING A POSITION
- RISK and MONEY MANAGEMENT
- ACCOUNT MANAGEMENT
- BASIC BUSINESS PLAN
- Putting it all together
Professional Trading Techniques By Linda Bradford Raschke pdf