Trading Rules that Work: The 28 Lessons Every Trader Must Master
$18.44
| Author(s) | |
|---|---|
| Pages |
208 |
| Format |
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| Published Date |
2008 |
Trading Rules that Work introduces you to twenty-eight essential rules that can be shaped to fit any trading approach—whether you’re dealing in stocks, commodities, or currencies.
Introduction:
The rules of trading are much like that stolen letter. We often accept the various rules that have been taught to us as traders, but the psychology behind those rules is so inherently assumed that we overlook it. The psychology that really makes those rules work is often hidden in plain sight. As traders, we all would agree that properly applying the rules will help us better achieve consistent trading success, and we all know from personal experience that breaking the rules has cost us money in the markets. None of us want to admit we break the rules (and some of us don’t even want to admit we need rules). So why don’t we follow the rules?
The purpose of this book is to outline the deeper psychology behind most of the accepted trading rules and provide you, the individual trader, a better understanding of how to make your rules work. The rules are actually guidelines grouped into four separate parts; the underlying, basic psychology of each individual part is explored as each rule guideline is shown in proper context. As most traders know, there are literally unlimited ways of interpreting price action, choosing execution points, or formulating a hypothesis of general market conditions or potential price action.
The intention is not to provide you with another trading system God knows there are enough of those but rather provide you a way of showing you two things to improve your trade approach: how you think and how the market thinks.
- Part I, “Getting in the Game,” outlines the psychology of market price action, what that can only mean as far as your trade selection is concerned, and how to begin from the point of a strong market presence.
- Part II is “Cutting Losses.” Every trader has had losses, and every trader still participating every day will tell you how important cutting losses is for the long-term health of a trading account.
- Part III explores the opposite dynamic: “Letting Profits Run.” Every trader at one time or another has liquidated a winning trade, only to see that trade continue farther and farther in his favor.
- Part IV is “Trading Maxims.” In Part IV we look at the some of the most common trading rules and how they have both negative and positive
psychological implications.
Contents:
- Getting in the Game
- Cutting Losses
- Letting Profits Run
- Trader Maxims
Trading Rules that Work By Jason Alan Jankovsky PDF
10 reviews for Trading Rules that Work: The 28 Lessons Every Trader Must Master
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Nova Harrison (verified owner) –
When you have read every technical analysis book out there and are ready to take it to the next level, this is a great book to get you on your way there.
Jasmine Arias (verified owner) –
Great book by a brilliant man. Wished I’d read it years ago.
Quentin Kelly (verified owner) –
The book to me was useless. There were a couple of items that may have been useful, but overall this was a compilation of banal truths that you can find elsewaher and written in more amusing manner. I don’t recommend it.
Ruby Chambers (verified owner) –
I am still reading and studying the book, and find many new ideas to implement to my trading
Alejandra Moon (verified owner) –
Every trader who wishes to succeed will either read these 28 rules or come to write his own, which will inevitably sound like the ones you read here. Jankovsky is an avid teacher of aspiring traders and has distiller the hardest parts of the inner game into his rule set. Unlike some other books about “the inner game,” there isn’t any fluff here. It’s clear from reading the examples that this hard won knowledge comes from someone who has been n the trenches and helped many individuals to survive the war and eventually win. Of the over 300 books I’ve read on the subject, this one is in the top ten!
Alec Bryant (verified owner) –
I am about one year into my journey to becoming a Professional Daytrader. In addition to some expensive training, I’ve read about eight books on trading so far. This book is clearly one of the most important additions to my trading foundation. The author does a superb job of giving the beginner many necessary trading rules in short (4-6 page) chapters. The book is well written without alot of useless fluff – but clear, concise, and very potent. Though most of the examples given deal more with futures and forex, the principles are equally valuable for stock trading as well. Actually, this is my first written review and I’m about 70% toward the completion of the book. But because the transformation that’s taking place in my mind, I felt compelled to take a break and write this review. I think that this book is of great value to both the novice as well as the advance trader. I await Mr. Jankovsky’s next book.
Parker Vazquez (verified owner) –
After a long hiatus from trading ( since the 90’s) I have begun studying the markets again, and came across this book in amazon. After a look at some of the pages on the look inside this book section, I realized this was fom the same author as “Dancing with Lions” by trader x, although Mr. Jankovsky might in an iconoclastic way deny this. I found dancing with lions, and the rare tape and workbook that was also avail at the time, to be incredibly fascinating, with that aura of real truth that was totally unique, especially in that era. The knowledge and insight in every page of this book is priceless, and I wish to give my personal gratitude to Mr. Jankovsky for writing it. Although the reality is that communicated truths can be apprehended in the intellect, it is only through experience and hard work on one’s self can these truths be integrated into your trading belief system and be fully realized. As one perseveres in the quest for profitable trading, one can read this book again and again, and gain new meaning each time. One of the best books ever on the inner game of trading.
Orion Ballard (verified owner) –
Are you an aspiring trader? Have you ever wished that you had connections in the trading business, a mentor to guide and teach you? This book is the closest thing you will find in print.
All too often as traders our focus is on indicators, historical price action, and our interpretation of fundamentals. We compile that data, interpret it as we will, and enter our trade………only to see our position move against us almost immediately. Now what? YOU REVIEW YOUR SYSTEM, OF COURSE! Maybe, just maybe, there is more to it than that.
Jason Jankovsky tells us that we must understand ourselves to trade effectively. But then he does more. He explains how a lack of such understanding can consistently destroy ANY trading system. He explains that a true understanding of your motivations, and the motivations of those trading against you, is more valuable than any indicator, and he correlates his commentary with examples that you can relate to. In Jason’s own words: You don’t really need to answer the question which price is coming next; you need to answer the question where and when will the loser quit?” Then Jason shows you how to figure that out.
Buy this book! You won’t regret it.
Elsie Zamora (verified owner) –
This guide blueprints 28 rules for trading success. Straightforward and simple in their statement, they are pregnant with meaning for anyone who has ever ventured into a zero-sum trade.
Jason Alan Jankovsky is the exception to the rule that those who “can, do and those who cannot, write books.” Leaf through this book’s first few pages and you will quickly recognize the depth of his insight. His rules are clearly and concisely stated. The author explains the psychology behind each. His explanations drip with the insight that can only be bought with one’s money on the line. Once understood, the rule becomes easier to employ.
The rules, perhaps they are better defined as guidelines fall into four categories:
* Part One: Getting in the Game outlines the psychology of market price action.
* Part Two: Cutting Losses shows you how to protect yourself in today’s markets–even when it is emotionally difficult to do so–by developing a set of unique trading rules.
* Part Three: Letting Profits Run covers the few simple rules you should follow in order to remain in a winning trade.
* Part Four: Trader Maxims examines trading’s most common rules.
When I read the work of a master, and make no mistake, Jankovsky has earned that title, I always pick up something. Personally, Part Two was a revelation. I had never thought to commit my personal trading rules to paper. Detailed, specific and goal-oriented rules that can be review each day – both before the opening and after the close. It was hard work writing them. It is even worse, trying to remain true to them. Yet I have seen a discernible improvement in my discipline as a result of this exercise
Successful trading takes discipline, desire, knowledge, and skill. The 28 rules, insights, and guidelines found in this book will push you towards your goal of consistent trading success in what for many is anything but.
Jerry Sandoval (verified owner) –
very good quality like a new book