Trade Like a Pro : 15 High-Profit Trading Strategies

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  • Edition: 1st
  • Format: Hardcover
  • Copyright: 2009-03-30
  • Publisher: Wiley
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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

Prefacep. xi
Acknowledgmentsp. xiii
Designing the Tradep. 1
From Retail Trader to Professional Traderp. 3
Transitioning from Retail Trader to Professional Traderp. 5
Successful Professional Tradersp. 16
Tightening Up Your Approach to the Marketsp. 22
Markets and Marginp. 25
Exchangesp. 27
What Does This Mean for the Market?p. 34
Daisy Chain Effectp. 37
Global Marketsp. 42
Becoming a Sophisticated Traderp. 45
What Do These Changes Mean for Your Trading?p. 46
Some Essentials of Tradingp. 47
Three Different Types of Tradersp. 48
A Trader's Focusp. 52
Essential Trading Conceptsp. 56
Using This Book to Its Fullest Potentialp. 63
Basic Strategiesp. 65
Holding the Bull and the Bear by the Tailsp. 67
Straddle, Strangle, and Executionp. 68
Getting the Right Options for the Jobp. 75
Option Tutorialp. 78
Sample Straddle and Strangle Write-Up Sheetsp. 89
Conclusionp. 89
Precision Trading at Its Finestp. 91
What Is Hedge Trading?p. 91
Precision Trading Ground Rulesp. 92
Identifying Market Trendsp. 96
Conclusionp. 101
Trading with Hard Stopsp. 103
Stop Loss Orderp. 104
Options as an Alternative to the Stopp. 106
Conclusionp. 110
The Markets on a Leashp. 113
Collarp. 114
General Collar Pitfallsp. 122
Day Tradersp. 123
Conclusionp. 126
Replacing Traditional Options with Synthetic Optionsp. 127
Synthetic Option versus Standard Optionp. 128
When to Use a Synthetic Optionp. 133
Conclusionp. 141
Everything in Its Seasonp. 143
Spread Opportunitiesp. 144
Conclusionp. 151
Gunning for Premiums with Covered Optionsp. 153
Problems with Selling Optionsp. 154
Covered Option Tradingp. 156
Conclusionp. 167
Outflanking the Marketp. 169
Frontspreads and Backspreadsp. 170
Trading Backspreadsp. 172
Conclusionp. 179
Advanced Strategiesp. 181
Exposing Yourself to Lossp. 183
Synthetic Futures, Long-Shortp. 183
Primary Drawbacksp. 188
Intercommodity Spreadp. 188
Primary Drawbacksp. 193
The Bull Call Spread and Bear Put Spreadp. 193
Primary Drawbacksp. 195
Conclusionp. 196
Advanced Option Selling Strategiesp. 197
Do 90 Percent of Options Expire Worthless?p. 198
What to Expect When Selling Optionsp. 200
Strangles, Straddles, or Naked Optionsp. 202
Sell Straddlep. 203
Sell Stranglep. 207
Naked Option Sellingp. 212
Conclusionp. 215
Retreat, Recovery, Opportunityp. 217
Manipulating the Strategiesp. 219
Conclusionp. 242
Analyzing Charts and Strategiesp. 243
S&P 500p. 244
Europ. 246
Goldp. 249
Cornp. 251
Oilp. 253
Conclusionp. 255
Applying These Strategies with Stocksp. 257
Stocksp. 258
Strategiesp. 261
Conclusionp. 266
About the Authorp. 267
Indexp. 269
Table of Contents provided by Ingram. All Rights Reserved.

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