Cover image for The Universal Principles of Successful Trading : Essential Knowledge for All Traders in All Markets.
The Universal Principles of Successful Trading : Essential Knowledge for All Traders in All Markets.
Title:
The Universal Principles of Successful Trading : Essential Knowledge for All Traders in All Markets.
Author:
Penfold, Brent.
ISBN:
9780470826164
Personal Author:
Edition:
1st ed.
Physical Description:
1 online resource (376 pages)
Series:
Wiley Trading Ser. ; v.11

Wiley Trading Ser.
Contents:
The Universal Principles of Successful Trading -- Contents -- Acknowledgments -- Preface -- Foreword -- Introduction -- Chapter 1 A Reality Check -- Why Do 90 Percent of Traders Lose? -- Common Mistakes-Year One -- Common Mistakes-Year Two -- Common Mistakes-Year Three -- How to Join the 10 Percent Winners' Circle -- In Summary -- Chapter 2 The Process of Trading -- The Process of Trading -- Chapter 3 Principle One: Preparation -- Maximum Adversity -- Emotional Orientation -- Losing Game -- Random Markets -- Best Loser Wins -- Risk Management -- Trading Partner -- Financial Boundaries -- In Summary -- Chapter 4 Principle Two: Enlightenment -- Avoiding Risk of Ruin -- Embracing Trading's Holy Grail -- Expectancy -- Opportunities -- Pursuing Simplicity -- Treading Where Most Fear -- Validation -- In Summary -- Chapter 5 Principle Three: Trading Style -- Trading Mode -- Time Frames -- Choosing Your Trading Style -- Long-term Trend Trading -- Short-term Swing Trading -- Long-term Trend Trading Versus Short-term Swing Trading -- In Summary -- Chapter 6 Principle Four: Markets -- Good Operational Risk Management Attributes -- Good Trading Attributes -- In Summary -- Chapter 7 Principle Five: The Three Pillars -- Money Management -- Methodology -- Psychology -- Chapter 8 Money Management -- Martingale Money Management -- Anti-Martingale Money Management -- Key Concepts -- History -- Anti-Martingale Money Management Strategies -- Trading Forex_Trader Using a Single Contract with No Money Management -- Forex_Trader Using Fixed-Risk Money Management -- Forex_Trader Using Fixed-Capital Money Management -- Forex_Trader Using Fixed-Ratio Money Management -- To Chase 18,000,000 in Profits or to Chase 1,500,000 in Profits, That is the Question -- Forex_Trader Using Fixed-Units Money Management -- Forex_Trader Using Williams Fixed-Risk Money Management.

Forex_Trader Using Fixed-Percentage Money Management -- Forex_Trader Using Fixed-Volatility Money Management -- Which Money Management Strategy to Choose? -- Trading Equity Momentum -- In Summary -- Chapter 9 Methodology -- Discretionary or Mechanical Trading -- Creating a Methodology -- Trend Trading -- Not All Indicators are Bad -- But Don't Markets Change? -- Multiple Methodologies -- Basic Attributes of Winning Methodologies -- Example of a Winning Methodology-The Turtle Trading Strategy -- Example of an Objective Trend Tool -- Fibonacci: Fact or Fiction -- Placebo Traders -- In Summary -- Chapter 10 Psychology -- The Consensus View -- Managing Hope -- Managing Greed -- Managing Fear -- Managing Pain -- Maximum Adversity -- In Summary -- Chapter 11 Principle Six: Trading -- Putting it All Together -- Trading: Order Placement -- In Summary -- Chapter 12 Just One Piece of Advice -- Balance -- The Market Masters -- Ramon Barros -- Mark D. Cook -- A Diverse Group of Traders -- Michael Cook -- Kevin Davey -- Tom DeMark -- Lee Gettess -- Daryl Guppy -- Richard Melki -- Geoff Morgan -- Gregory L. Morris -- Nick Radge -- Brian Schad -- Andrea Unger -- Larry Williams -- Dar Wong -- A Wealth of Advice -- Chapter 13 A Final Word -- Appendix A Risk-of-Ruin Simulator -- Simulator Variables -- Model Logic -- Simulator -- DIY Simulator -- Appendix B Risk-of-Ruin Simulator -- DIY VBA Risk-of-Ruin Simulator -- VBA Code for Risk-of-Ruin Simulator -- Appendix C Risk-of-Ruin Simulations -- Index.
Abstract:
The Universal Principles of Successful Trading clearly and unambiguously articulates trading principles that distinguish the winners from the losers. Though trading can be performed in different markets, across different timeframes, and with different instruments based upon different techniques, there is one common thread that ties all winning traders together: the universal principles of successful trading. All consistently profitable traders adhere to them regardless of the markets, timeframes, and techniques. In this ground-breaking book from top trader, Brent Penfold, the reader will: Learn how to develop a trading plan Learn how to identify and create an effective methodology Discover successful money management strategies Understand trader psychology And many more exciting trading and strategies secrets. Supporting the universal principles are rare interviews from a diverse group of successful traders. Some are the new young guns of trading and others are market legends who are trading just as actively today as they were over 50 years ago. They represent a diverse group of traders from the United Kingdom, America, Singapore, Hong Kong, Italy, and Australia. All of them have generously agreed to offer the reader one singularly powerful piece of advice to help them towards their trading goals. Each piece of advice emphasizes an essential element of the universal principles. This timely and exciting book from Brent Penfold has already garnered many accolades and looks set to become a modern-day classic.
Local Note:
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2017. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
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