Rules of the Trade: Indispensable Insights for Active Trading Profits
$7.93
| Author(s) | |
|---|---|
| Format |
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| Pages |
278 |
| Published Date |
2001 |
413
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Description
Contents:
- Preparing to Trade
- Rules for Trading
- Rules for the Active Trader
- Rules for Stock Selection
- Rules for Entering Trades
- Rules for Exiting Trades
- Rules for Hedging Risk
- Rules for the Technician
- Rules for Evaluating Performance
- Rules for Technology and the Internet
- Rules for Money and Mind Management
- Interviews and Insights from the “One Percenters”
Rules of the Trade: Indispensable Insights for Active Trading Profits By David Nassar pdf
11 reviews for Rules of the Trade: Indispensable Insights for Active Trading Profits
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Logan Benson (verified owner) –
I have been trading four years and have never read a book that describes what a trader really goes through better than this. The emotions, psychology and demons a trader has to deal with are real, and this book brings them to the forefront; confronts them, and then helps teach how to conquer them. Really well done.
Lucian Hunter (verified owner) –
Nice talks during coffee break.No charts, no methodologies, no trading techniques. Incredible waste of ink, paper, money. You can find the same stuff everywhere on the web (just for free).
Kaylani Thomas (verified owner) –
This is a great book. I make my living trading stocks and options, and this is the best book I have read recently on the subject of day trading.
To the point, and tells it as it is. Not a cheesy sales promotion like so many other books out there. This author has class and style, and it shows in his writing and content. I recommend this book highly.
Amora Meza (verified owner) –
In my library of 30 plus books on trading this is without a doubt the most comprehensive and “real life” in regards to all aspects of making money in the market. Written by a trader for traders…Increased my daily target 300%
The key to a great teacher is that they teach you how to teach yourself and in that independence comes the freedom from expensive advisory chat rooms and services. Tired of being spoon fed and having your credit card debited..read it…
Collins Hughes (verified owner) –
What a great book. This book was an adventure to read! A real page turner, which is something you can not say about many financial books. I have traded for years and feel this book synthesizes the real essence of trading better than any book I have ever read and I read plenty of books. David has a real feel for the markets which comes through in his writing. Better than his first book, although I would suggest both since this book reflects a more confident writing style that speaks to the experienced trader much more.
As far as other books I think are notable, I would read the classic market wizards book, reminiscences of a stock operator, trading for a living, and the daytrader. There are several others I like but this should get you started. All in all, this is my favorite so far. Awesome job Nassar!
Blake McBride (verified owner) –
Before all I want to say that many topics are given for granted and I find the book not really easy for a beginner. Markets have changed a lot since this book was written and many chapters need revision having in mind that many readers are non native speakers of english and have no idea of many topics given for granted
Denver Carrillo (verified owner) –
If you read these books and follow his fluff then you will be robbed of your money by the professionals. Trading takes advanced and sophisticated methods, not capable of being properly expressed in a book targeted to the masses.
People spend years educating themselves to be able to pick money from the inexperienced, like those who buy this book. Best of luck, and if do finish reading it, or decide to make better use, you can always put it to work propping up a table, or starting a fire.
Gatlin Leon (verified owner) –
I have been trading for 17 years and am getting more and more active because of the new technologies out there. As I trade more, I find trading more a mind game than anything else. I found so many insights in this book that explained the mistakes I have made. The rules are right on the money!
What is also great about this book is the price. I have read books that repeat the same old information four times the price of this one and not worth 1/4 of it. This book is fairly priced and worth four times the cost! It is fresh and new. It teaches something much different than what I have read before, and I read a lot of books on the market. It focuses on real issues we all (traders) face. There are rules about the market, buying, selling, keeping losers, averaging down, emotions, motivations, relationships; all factors that made sense to me. If I could have understood these rules better when I started trading, I know they would have helped me even more. Beginner or experienced, this book captures your attention and keeps it.
Buy this book and refer to it often, because it will help you!
Maeve Andrews (verified owner) –
This book is a must read for anyone considering trading for a living-assuming you want to trade successfully. The author, David Nassar, is not only the CEO of a trading firm, but also an experienced trader, educator, and speaker at trading expos. He is highly knowledgeable and he gave one of the best CEO interviews in my book Day Trading on the Edge. David provides nitty-gritty, specific no-nonsense hard advice on trading. There is no filler or fluff in this book, just hard earned trading lessons learned from years of trading. Trading is much easier to talk about than do successfully, and knowing the key tenets of trading can greatly decrease your learning curve. The focus of the book is on eleven chapters containing 95 trading rules that cover all the critical areas that must be mastered to be a profitable trader. The rules cover:
Preparing to Trade; Rules for Trading; Stock Selection; Entering/Exiting Trades; Active Trader;Technical Trader; Evaluating Performance; Technology and the Internet; and Mind and Money Management
Readers of this book should compare how they handle their trading with the rules in this book to determine where they can improve. One excellent feature is the inclusion of a six page trading plan that covers all the bases.
This is one book that you cannot breeze through in one hour. It is not a difficult read, but it so full of information that more time is necessary to glean all the useful advice. The average reader will want to read this book at least three times to garner all the useful information provided. Be prepared with your pen to mark up this book as your read, otherwise you’ll miss all the key points.
In summary, if you are seriously interested in succeeding in a very challenging but rewarding career, then buy this book as soon as you can, study it intensely, learn the tricks of the trade, practice discipline, money management, control your emotions and hopefully shorten your learning curve. Any trader will have to master the rules of trading early-on, otherwise the tuition payment to for a trading career may be very expensive.
Everett Bennett (verified owner) –
I am nobody in the universe of traders. However, I am confident that I belong to the top 5% of traders who “seriously” carry on self study for better results so I deem myself qualified to write such a title. (I keep on reading and I had even gone so far to get a CFA) I dont write this paragraph for self boasting. I just want to emphasize that the author really had delivered what is implied in the book title “Rules of the trade – indispensable …”.
Neatly structured, the book consists of 12 paragraphs, each of which about a specific topic, such as rules for the stock selection, rules for entering trades, rules for evaluating performances, rules for money and mind management, rules for this and rules for that…In the beginning of each chapter, related rules are listed.
In “the rules for exiting trades”, to name a few: dont expect to squeeze all the juice from the orange; exit on reaction, not price; set mental stops; when in doubt, get out; know why you are in a trade, and where you will exit etc.
In the rules for active traders: size the trade; average winners, not losers; never let a winner turn into a loser; take profits often; never mix disciplines; dont fight the tape etc.
In the rules for the technician: day trade the range and swing trade the trends; always use indicators to confirm charts and patterns; dont make it rocket science, cause it aint; never ignore volume regardless of your trading style etc.
To me, this book is an easy read, well written but still can serve as a good reminder of things I know I need to remember but had somehow forgotten after intensive trading activities. Not a classic nor really insightful, but definitely good value for money!
p.s. The author had named 10 books of note in the Appendix. Four of them would be in my own list of top 10 recommendations. That might be the reason why I consider this book so readable.
Lukas Alvarado (verified owner) –
Love itttt