In Secrets of the Trading Pros, Jack Bouroudjian shares the unique insight of a market veteran who has experienced all aspects of the marketplace-from exchange and industry leader to brokerage executive and market trader. The reader feels that Jack is sitting next to you telling his and the market’s story, offering the view of an accomplished market participant who is passionate about his work. Jack’s work is relevant reading, whether one is an investment professional or merely curious about how economic forces are displayed in the markets of today.
Introduction:
In Secrets of the Trading Pros, Jack Bouroudjian shares the wisdom of successful traders who served as his mentors, and at the same time reveals his broad knowledge of market structure and the forces that make markets move. He views trading as more of an art than a science and explains why respecting the market at all times is one of the most important lessons any trader can learn.
Bouroudjian brings wide experience to the writing of this book. He is a former president of Commerzbank, where he oversaw the creation and development of equity futures operations, and has been a member of the Chicago Mercantile Exchange (CME) since 1987. He also served on the CME board of directors from 1996 to 2002.
While providing the breadth of a textbook, Secrets of the Trading Pros is written in a narrative style that makes readers feel as if Bouroudjian were sitting across the table sharing trading anecdotes and offering insights into market fundamentals. The book discusses the benefits of knowing the mar-ket and understanding the various players in different industries. It also explores the qualities that make exceptional traders—from exercising dis-cipline and courage to understanding risk and reward—as well as the strate-gies that make them successful.
In addition to breaking down the thought processes of great traders, Secrets of the Trading Pros also delves into external influences that affect markets and trading. These include:
- Capitalizing on other traders’ raging emotions
- Making sense of the trading methodologies that dominate today’s marketplace
- Understanding the fundamentals of trading, especially futures trading
- Learning how headlines can affect a market’s liquidity
- Observing the effects of economic releases, such as unemployment or housing, on the direction of the market
- Turning disappointment into opportunities
Contents:
- Trading Is an Art, Not a Science
- Many Are Called, Few Are Chosen
- Know Thy Market
- Managed Futures: The Holy Grail
- Within Every Disappointment, There Is a Gem of Opportunity
- Technical Analysis
- Random Walk Theory
- The Psychology of the Marketplace
- Demystifying Economic Releases
- Information Is Gold
- Risk Management