Trade Like a Casino: Find Your Edge, Manage Risk, and Win Like the House
- ISBN-10
- 1118137965
- ISBN-13
- 9781118137963
- Category
- Business & Economics
- Pages
- 288
- Language
- English
- Published
- 2011-09-02
- Publisher
- John Wiley & Sons
- Author
- Richard L. Weissman
Description
A detailed look at the common characteristics found in mostsuccessful traders While there are a variety of approaches to trading in thefinancial markets, profitable traders tend to share similarunderlying characteristics. Most have a methodology that theybelieve will prove profitable over the long run and are willing toendure short-term setbacks. If you're looking to make the most ofyour time in today's markets, you need to understand what separatesthe best from the rest. And with Trade Like a Casino, you'llgain the knowledge needed to excel at this challengingendeavor. Engaging and informative, this reliable guide identifies andexplains the key techniques and mental processes characteristic ofsuccessful traders. It reveals that successful traders operate verymuch like a casino in that they develop a method that gives them"positive expectancy" and they unflappably implement the method inthe face of changing, and oftentimes volatile, market conditions.Page by page, the book explores the intricacies of methodology,mental control, and flexibility that allow traders to develop andmaintain the casino-like edge. Reveals how many successful traders tend to follow the samegeneral principles, even if their approach to trading maydiffer Explores how to account for the risk of being wrong and themarket moving against you Discusses how to develop an approach that combines tradeselection with sound risk management, avoids emotional attachmentto positions, exploits volatility cycles, and focuses on marketaction Regardless of how you approach markets, the insights found herewill help improve the way you trade by putting you in a betterposition to distinguish the differences between successful andunsuccessful traders.
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