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Trade Like A Casino: Find Your Edge, Manage Risk, And Win Like The House

Successful traders tend to followheame general principles. They develop an approach that combines trade selection with sound risk management; they avoid emotional attachment to positions; they understand and exploit volatility cycles; they analyze markets from different timeframes; and they focus on market action rather than profits/losses. In Ten Secrets of Successful Trading, Richard Weissman identifies and explains the key techniques and mental processes characteristic of successful traders. He explains that successful traders operate very much like a gambling casino in that they develop a method that gives them a "positive expectancy" and they unflappably implement the method in the face of changing and oftentimes volatile market conditions. The book will drill down, explaining intricacies of methodology, mental control, and flexibility that allow traders to develop and maintain the casino-like edge. Regardless of approach, traders of all kinds will find this book insightful and valuable.