Trade Like a Pro 15 High-Profit Trading Strategies

by DraKoln, Noble

• ISBN13: 9780470287354
• ISBN10: 0470287357
• Edition: 1st
• Format: Hardcover
• Copyright: 2009-03-30
• 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

Author Biography

Noble DraKoln is founder of SpeculatorAcademy.com, a futures and Forex educational company, where he focuses on the development, management, and promotion of the company's core philosophy of "focusing on the trader not the trading." Prior to this role, DraKoln served as the president of Liverpool Derivatives Group, Inc., a futures and Forex brokerage, for eight years and as a professional sugar trader. He speaks regularly at industry conferences in the United States and Europe and has written articles for numerous financial publications. DraKoln is also an NFA Arbitrator, as well as the author of the Wiley title Winning the Trading Game.

Table of Contents

Preface	p. xi
Acknowledgments	p. xiii
Designing the Trade	p. 1
From Retail Trader to Professional Trader	p. 3
Transitioning from Retail Trader to Professional Trader	p. 5
Successful Professional Traders	p. 16
Tightening Up Your Approach to the Markets	p. 22
Markets and Margin	p. 25
Exchanges	p. 27
What Does This Mean for the Market?	p. 34
Daisy Chain Effect	p. 37
Global Markets	p. 42
Becoming a Sophisticated Trader	p. 45
What Do These Changes Mean for Your Trading?	p. 46
Some Essentials of Trading	p. 47
Three Different Types of Traders	p. 48
A Trader's Focus	p. 52
Essential Trading Concepts	p. 56
Using This Book to Its Fullest Potential	p. 63
Basic Strategies	p. 65
Holding the Bull and the Bear by the Tails	p. 67
Straddle, Strangle, and Execution	p. 68
Getting the Right Options for the Job	p. 75
Option Tutorial	p. 78
Sample Straddle and Strangle Write-Up Sheets	p. 89
Conclusion	p. 89
Precision Trading at Its Finest	p. 91
What Is Hedge Trading?	p. 91
Precision Trading Ground Rules	p. 92
Identifying Market Trends	p. 96
Conclusion	p. 101
Trading with Hard Stops	p. 103
Stop Loss Order	p. 104
Options as an Alternative to the Stop	p. 106
Conclusion	p. 110
The Markets on a Leash	p. 113
Collar	p. 114
General Collar Pitfalls	p. 122
Day Traders	p. 123
Conclusion	p. 126
Replacing Traditional Options with Synthetic Options	p. 127
Synthetic Option versus Standard Option	p. 128
When to Use a Synthetic Option	p. 133
Conclusion	p. 141
Everything in Its Season	p. 143
Spread Opportunities	p. 144
Conclusion	p. 151
Gunning for Premiums with Covered Options	p. 153
Problems with Selling Options	p. 154
Covered Option Trading	p. 156
Conclusion	p. 167
Outflanking the Market	p. 169
Frontspreads and Backspreads	p. 170
Trading Backspreads	p. 172
Conclusion	p. 179
Advanced Strategies	p. 181
Exposing Yourself to Loss	p. 183
Synthetic Futures, Long-Short	p. 183
Primary Drawbacks	p. 188
Intercommodity Spread	p. 188
Primary Drawbacks	p. 193
The Bull Call Spread and Bear Put Spread	p. 193
Primary Drawbacks	p. 195
Conclusion	p. 196
Advanced Option Selling Strategies	p. 197
Do 90 Percent of Options Expire Worthless?	p. 198
What to Expect When Selling Options	p. 200
Strangles, Straddles, or Naked Options	p. 202
Sell Straddle	p. 203
Sell Strangle	p. 207
Naked Option Selling	p. 212
Conclusion	p. 215
Retreat, Recovery, Opportunity	p. 217
Manipulating the Strategies	p. 219
Conclusion	p. 242
Analyzing Charts and Strategies	p. 243
S&P 500	p. 244
Euro	p. 246
Gold	p. 249
Corn	p. 251
Oil	p. 253
Conclusion	p. 255
Applying These Strategies with Stocks	p. 257
Stocks	p. 258
Strategies	p. 261
Conclusion	p. 266
About the Author	p. 267
Index	p. 269
Table of Contents provided by Ingram. All Rights Reserved.