In Trading Without Gambling, Link shows how to create and use a sound game plan to improve every aspect of trading–including finding trades, timing, knowing how much to trade, where to exit, and how to adjust risk–while leaving very little to gambling. Many people perceive trading as nothing more than a gamble. But there are still people who consistently make money trading. How do they do it? They’ve learned to separate gambling from trading. And the way they do this, says author Marcel Link, is by developing a proper plan.
Author’s Introduction:
If you took everything from the first book, put it into a funnel and strained out the fluff, the key things would all boil down to one basic concept and that is the importance of making a trading and game plan to trade with, and following it, of course. This new book will take that concept and expand on it as I believe it to be the key to successful trading.
Many people look at trading as a gamble, and yes there is risk involved, but a well-prepared trader, with a solid game plan and discipline can learn to trade without gambling, the same way the professional gamblers do.
Though I’ll show examples of my trading and talk about technical analysis, this book is not about how to pick market bottoms or giving you great trading systems, instead it will focus on how you can become a better trader. They key to winning in the markets is planning for it and knowing in advance how to react to certain situations, and this is what a game plan will do for you. Trading is not simply about buying and selling, but about the knowing when, and why to do so.
Contents:
- Everyone Needs a Plan
- The Trading Plan
- The Game Plan
- Get to Know Yourself
- Trading Strategies
- Know Your Markets
- After the Close
- Before the Market Opens
- Drawing Up Scenarios
- Taking the Gamble Out of Trading
- Getting In
- Getting Out
- Reviewing and Managing
- How to Keep from Overtrading
- Money Management
- Trading Rules
- Focus and Discipline
- Learning How to Win
