Short, Authoritative, Useful eBooks

Short, Authoritative, Useful eBooks

Learn About Trading (Becoming a Consistent Trader) in 30 Minutes

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Words: 14,508

Published: 30 May 2024

$5

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Short Description:

Trading is simple to learn and easy to do for retail traders. All you need to do to learn to trade is open a practice account with a broker. But trading in a live-market environment, with a funded account and the risk of financial loss, is harder. Adding to the difficulty is that markets can be incredibly volatile and unpredictable, leading to intense emotional roller-coasters. And trading to achieve consistently profitable results is an entirely different ballgame. In fact, it is so difficult that the vast majority of retail traders lose money as soon as they begin.

But a small minority will survive; an even tinier minority will go on to consistently make profits. In this eBook, Dr Foo explains the work � thought processes, knowledge, and practices � that must be done to achieve consistent, profitable trading. The eBook does not provide shortcuts � Dr Foo believes there are no shortcuts to successful trading � but there is a systematic, analytical process that anyone can learn.

To help the reader achieve the best results, the eBook provides many practical exercises designed to improve trading skills and bring the trading game to a higher level.

Table of Contents:

Extract:

Trading can be defined as the act of buying or selling financial assets in financial markets for the purpose of making a profit. As a trader, you anticipate the price movements of the underlying asset by going long (buying) or going short (selling) to make a profit. If you make the right call, you make money (profit); if you make the wrong call, you lose money (loss).

But where does your profit come from and where does your loss go to?

The answer is that trading is a �zero-sum� game: You make money from or lose money to other traders. For you to win, some other person(s) or party has to lose.

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A trading system is a set of rules that defines conditions required to initiate a trade based on specific buy or sell signals and exit a trade. These signals are entry signal, exit signal, risk-to-reward ratio, winning rate, expected return, drawdown, frequency of trading opportunities, and position sizing. A system can have many variables and parameters. It can be discretionary or mechanical. The data it uses can vary by trading timeframe used. Every trader adapts the trading system to his style of trading, whether discretionary or mechanical.

About The Author:

Loon Sung Foo, Dr

Dr. Foo is an economist by training and a banker for 25 years by experience. He has worked for MAS, Citibank, Standard Chartered Bank, and American Express Bank. He is now a private trader, author, trainer, and investment coach.

He is a professional trader for 20 years trading mainly in stocks, futures, commodities and forex. In addition, he is also an adjunct lecturer in Investments, Finance and Banking.

He is the author of several leading eBooks, including Trading Naked: Make Money Trading Price Patterns, High Probability Price-Driven Trading: Profit from Price Patterns Strategies and 8 Candlesticks that Matter.
Trading Naked is a radical and refreshing approach to trading. The aim of Trading Naked is to use price action based on specific setups and price patterns.

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