Trade Like a Pro : 15 High-Profit Trading Strategies

by Noble DraKoln

• ISBN13: 9780470449110
• ISBN10: 047044911X
• Format: eBook
• Copyright: 2009-02-01
• Publisher: Wiley

Summary

Praise for Trade Like a Pro"Noble's commitment to the individual trader is exactly what traders need during these volatile times. He has knowledge that spans across markets and is worldwide. He is a valued contributor to the TraderPlanet.com community, and this book further demonstrates his dedication to educating traders and helping them become more successful." -Lane J. Mendelsohn, Publisher, TraderPlanet.com"In a time when, on a global level, important things are happening to the financial industry, when new profit opportunities as well as risks are revealed, the book Trade Like a Pro offers a complete picture concerning the risk administration techniques." -Teodor Ancuta, President and General Manager, Sibiu Stock Exchange"Trade Like a Pro is a comprehensive presentation of all the basic trading strategies that belongs in every investor's library. Whether your specialty is futures, options, or stocks-or, for that matter, a combination of all three-you will find yourself going back to this valuable reference guide again and again. Everything rings true. Moreover, the author gives you the pros and cons of each respective strategy without imposing his own point of view. Well researched and presented." -George Angell, author of Small Stocks for Big Profits and Winning in the Futures Market"Armed with good intentions, most new traders are unaware of the realities involved. Although there is often the belief among novice traders that profitability will be easy, the evidence strongly suggests otherwise. In his new book, Trade Like a Pro: 15 High-Profit Trading Strategies, Noble DraKoln offers a thoughtful approach to making the transition from unsuccessful retail trader to the arena of the professional, which is imperative for lasting success as a trader." -Ron Rossway, President, Denver Trading Group

Table of Contents

Preface

Acknowledgments

Designing the Trade

From Retail Trader to Professional Trader

Transitioning from Retail Trader to Professional Trader

Successful Professional Traders

Tightening up Your Approach to the Markets

Markets and Margin

Exchanges

What Does This Mean for the Market?

Daisy Chain Effect

Global Markets

Becoming a Sophisticated Trader

What Do These Changes Mean for Your Trading?

Some Essentials of Trading

Three Different Types of Traders

A Trader's Focus

Essential Trading Concepts

Using This Book to Its Fullest Potential

Basic Strategies

Holding the Bull and the Bear by the Tails

Straddle, Strangle, and Execution

Getting the Right Options for the Job

Option Tutorial

Sample Straddle and Strangle Write-up Sheets

Conclusion

Precision Trading at Its Finest

What is Hedge Trading?

Precision Trading Ground Rules

Identifying Market Trends

Conclusion

Trading with Hard Stops

Stop Loss Order

Options as an Alternative to the Stop

Conclusion

The Markets on a Leash

Collar

General Collar Pitfalls

Day Traders

Conclusion

Replacing Traditional Options with Synthetic Options

Synthetic Option versus Standard Option

When to Use a Synthetic Option

Conclusion

Everything in its season

Spread Opportunities

Conclusion

Gunning for Premiums with Covered Options

Problems with Selling Options

Covered Option Trading

Conclusion

Outflanking the Market

Frontspreads and Backspreads

Trading Backspreads

Conclusion

I. Advanced Strategies

Exposing Yourself to Loss

Synthetic Futures, Long - Short

Primary Drawbacks

Inter-commodity Spread

Primary Drawbacks

The Bull Call Spread and Bear Put Spread

Primary Drawbacks

Conclusion

Advanced Option Selling Strategies

Do 90% of Options Expire Worthless?

What to Expect When Selling Options

Strangles, Straddles, or Naked Options

Sell Straddle

Sell Strangle

Naked Option Selling

Conclusion

Retreat, Recovery, Opportunity

Manipulating the Strategies

Conclusion

Analyzing Charts and Strategies

S&P 500

Euro

Gold

Corn

Oil

Conclusion

Applying These Strategies with Stocks

Stocks

Strategies

Conclusion

About the Author

Index

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