December 2012
Intermediate to advanced
224 pages
6h 13m
English
book
The Trend Following Bible: How Professional Traders Compound Wealth and Manage Risk
by Andrew Abraham, David Druz
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O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.
CHAPTER 9
The Trend Follower Mindset
There's more to trading than just having a strategy.
There are countless trading strategies for you to choose from. The most important aspect of a trading strategy is that it matches your personality and risk thresholds. You can find hundreds of books with different trading strategies, along with countless websites that offer trading strategies for free. In trading magazines as well as websites that list trading system results, they all seem to highlight “the trading strategy of the month.”
If it were as simple as buying one of these systems, you would have retirement in a box.
With all of these trading strategies available, why isn't everyone rich?
The sad reality is that most traders fail. There are estimates that only 3–5 percent of all traders are successful over time.
The problem is that strategies do NOT make a good trader.
There's more to trading than just having a strategy. Only time, knowledge, experience, and guidance can make you the trader you want to be.
You are your biggest enemy because of your emotions, fear, and greed!
In order to develop the right mindset, you need to know what to expect when trading. Many traders mistakenly believe that trading will result in a consistently rising account balance, like having an ATM in their office. But you already know that losses are a part of our business as traders. There will be some days and weeks when your trading exceeds your expectations, but more likely there will be periods when ...
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O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.