The Trader’s Pendulum:The Ten Habits of Highly Successful Traders is an honest, educational and most importantly, an enjoyable book to read. Jody Samuels’ style makes concepts understandable. She writes as she speaks: with simplicity and clarity; this comes from her many years of experience turning willing traders into consummate professionals.
The pendulum factors represent duality situations arising from trading the markets. On one end of the pendulum swing there is a condition, and on the other end there is another (often opposing) condition. Ideally, you, as a trader, want to remain or get back to the neutral position because staying at either end can be unproductive. The pendulum swings are typically caused by the constant ﬂux of the market. You can do nothing about the swings of a pendulum, but you need to learn how to ride them as all successful traders do. The lack of skills to weather the swings is what makes trading an emotional-psychological roller-coaster ride for traders. Pendulum factors have three aspects:
- Market Pendulum
- Financial Pendulum
- Emotional Pendulum
The central focus of this book is based on my model of the 10 Habits of Successful Traders. In the following chapters, you will discover the following:
- What the 10 common habits of successful traders are. The simplest way to succeed in trading is to learn from the best and model their habits. This book shows you what successful traders are doing, what you’re not doing, and what you can learn from their habits.
- Why you should practice the 10 common habits. You will ﬁnd out the beneﬁts of cultivating these habits and how they have helped the top performers to gain ﬁnancial success, a great sense of achievement, and a well-balanced life.
- How to replace your negative habits with positive habits. When you examine the positive habits of successful traders, you might discover your own negative habits that prevent trading success. Find out how you can replace the negative habits with the positive ones.
- The Successful Trader versus the Average Trader
- The Technical Trader’s Trap
- Becoming an Entrepreneurial Trader—The Process
- Habit #1: Establish a Trading Business for the Right Reasons
- Habit #2: Complete a Trader’s Business Plan
- Habit #3: Deﬁne Your Goals
- Habit #4: Commit to Your Education with a Trading Coach
- Habit #5: Understand and Exploit Your Unique Trading Personality
- Habit #6: Follow a System
- Habit #7: Plan the Trade and Trade the Plan
- Habit #8: Measure Your Performance
- Habit #9: Learn the Secrets of Successful Traders
- Habit #10: Add Balance to Your Life
- The ‘‘10 Habits’’ Checklist
- Analysis Toolbox—Your First Mentoring Session
- Sample Trading System—Your BONUS Mentoring Session