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Trend Trading for a Living: Learn the Skills and Gain the Confidence to Trade for a Living
Trade the trend and you can trade for a living If you're going to play the stock market, play to win by using a fundamental strategy of most hedge fund managers-trend trading. In Trend Trading for a Living , the trading coach and hedge fund manager known on Wall Street as “Dr. Stoxx” shares his personal strategies for analyzing markets, picking stocks, and knowing when to buy and sell. This step-by-step book offers a practical road map to get yourself familiarized with the stock market and into the driver's seat of your financial future. In five progressive parts, Trend Trading for a Living helps
- GenresFinance
340 pages, Hardcover
First published December 6, 2007
51 people are currently reading
124 people want to read
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Displaying 1 - 5 of 5 reviews
February 25, 2022
This was a surprisingly pleasant read about financial markets. The author is a self-proclaimed student of Darvas, Dr. Elder, Douglas, Tharp and is a proud trend follower. He is also a very passionate student of the market. It was quite obvious at the start where he turned this passion of his into a profession.
The first part of the book he talked about his trading philosophies as well as some of his axioms about trading. He then talked about some of his methods of trading as well as the basics of trend following. Also, he detailed some of the setups that he adopts both the long and the short side. Strangely, he writes a chapter about options in this book, which was not something I was expecting but it was a quick and fun read nonetheless. The way he writes was rather straight-forward and easy to understand. I have not dabbled into options yet but it was interesting reading some of the As and Bs as written here. The closing chapter about Trading for a Living nicely summed up the book.
According to the author, the successful trader must possess the following traits:
• Self-discipline
• The ability to take responsibility
• A positive attitude toward success
• A keen understanding of risk
• The ability to maintain an open mind
He also have post-it notes of the following axioms in pitchy, bold, all-caps on his monitor:
• Trade only your own picks!
• Never average down!
• Let winners run!
• Cut losses short!
• No impulse buys or sells!
Additionally, his own list of trading values are:
• Your trading systems are sound and profitable.
• You are in control of our impulses.
• Trade with integrity at all times.
• Trade responsibly for your family’s financial future.
• Trading is only a means to an end.
• Profits come with the system, not with hunches.
In conclusion, the book is very readable even for non market participants. He even referenced in the closing chapter about the "Bigger Vision" of trading for a living to spouses or significant others of traders for a better understanding. Certain chapters are less useful than others but overall this is a solid quick read. Recommended for all traders out there. 3.5/5 rounding up.
The first part of the book he talked about his trading philosophies as well as some of his axioms about trading. He then talked about some of his methods of trading as well as the basics of trend following. Also, he detailed some of the setups that he adopts both the long and the short side. Strangely, he writes a chapter about options in this book, which was not something I was expecting but it was a quick and fun read nonetheless. The way he writes was rather straight-forward and easy to understand. I have not dabbled into options yet but it was interesting reading some of the As and Bs as written here. The closing chapter about Trading for a Living nicely summed up the book.
According to the author, the successful trader must possess the following traits:
• Self-discipline
• The ability to take responsibility
• A positive attitude toward success
• A keen understanding of risk
• The ability to maintain an open mind
He also have post-it notes of the following axioms in pitchy, bold, all-caps on his monitor:
• Trade only your own picks!
• Never average down!
• Let winners run!
• Cut losses short!
• No impulse buys or sells!
Additionally, his own list of trading values are:
• Your trading systems are sound and profitable.
• You are in control of our impulses.
• Trade with integrity at all times.
• Trade responsibly for your family’s financial future.
• Trading is only a means to an end.
• Profits come with the system, not with hunches.
In conclusion, the book is very readable even for non market participants. He even referenced in the closing chapter about the "Bigger Vision" of trading for a living to spouses or significant others of traders for a better understanding. Certain chapters are less useful than others but overall this is a solid quick read. Recommended for all traders out there. 3.5/5 rounding up.
October 18, 2022
An interesting read, one would benefit more if you’re familiar with technical analysis.
The author presented a series of possible trades for various market conditions.
It wasn’t easy to follow and will require full attention to the details mentioned.
Would still recommend a read to get a flavour of what to do in various market conditions.
The author presented a series of possible trades for various market conditions.
It wasn’t easy to follow and will require full attention to the details mentioned.
Would still recommend a read to get a flavour of what to do in various market conditions.
May 3, 2021
An excellent read that provides an introduce to trend trading. Dr. Carr outlines his strategies and system in a clear and concise manner. I am hoping to implement this in my own trading life, and see what the results are like.
February 21, 2021
I read 2nd edition of this book. There are too many good ideas for stock selection process, and timing of entry. Liked it a lot. It is definitely a must read book for traders.
Displaying 1 - 5 of 5 reviews