Chapter 10 Become the bookmaker: how the pros trade

In this chapter … 

I want to bring together the techniques that I have previously examined and show you a style of trading that is favoured by most of the successful professional traders that I have known. While I have shown different ways to approach trading, the methods that I explain in this chapter encompass nearly all of the techniques and suggestions that I have described. They reflect a professional approach to trading, where the trader views himself as a price-maker and a central cog in the market, rather than a price-taker who is constantly battling against the market. So, rather than trade against the market we become the market. As the saying goes, ‘if you can’t beat them, join them’.

Over the past nine chapters we have explored a number of different topics that all have an important role to play if we are to enjoy sustainable trading profits. Sustainable, successful trading requires a good knowledge base adapted to an understanding of how markets really work, backed up by good discipline. There are no easy paths to success, but there are plenty of short cuts to failure. Good professional traders don’t become so overnight; they improve over time as their knowledge and range of techniques increases.

The techniques and suggestions in this book are based on nearly 25 years of experience trading alongside hundreds of traders. I have seen good traders first hand, and I have also witnessed others lose their trading ...

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