Mastering the Trade, Second Edition: Proven Techniques for Profiting from Intraday and Swing Trading Setups

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Mastering the Trade, Second Edition: Proven Techniques for Profiting from Intraday and Swing Trading Setups Book Description

File Size: 22312 KB
Print Length: 464 pages
Simultaneous Device Usage: Up to 4 simultaneous devices, per publisher limits
Publisher: McGraw-Hill; 2 edition (April 17, 2012)
Sold by: Amazon Digital Services, Inc.
Language: English

ASIN: B007STBH58

When it was first published in 2005, Mastering the Trade became an instant classic in the world of day trading. Now, veteran day trader and educator John F. Carter has updated his time-proven swing trading technique to help you succeed in an environment vastly transformed by volatility and technology.

Universally acclaimed for its sophisticated yet easy-to-execute methods, this practical, results-driven guide provides everything you need to make a lucrative career as a day trader—from preparing yourself psychologically for the unique demands of day trading to timing the market, managing risk, and planning future trades.

Mastering the Trade sets aside timeworn basics and rehashed ideas to examine in detail the underlying factors that cause prices to move. Providing the tools you need to make the right decisions at the right times, it helps you enter market shifts early and either pull out before losses accrue or hang on for a long and refreshingly predictable ride. Mastering the Trade covers:

• The five psychological truths that will transform you from a mistake-prone novice into a savvy trading professional
• Exact entry, exit, and stop-loss levels for the intraday trading of stocks, options, ETFs, e-mini futures, 30-year bonds, currencies, and more
• Seven key internals, from $TICKS to five-minute volume—critical for gauging pending market direction from the opening bell
• Premarket checklists for analyzing recent market behavior and calculating on each trading day what you plan to do, how you plan to do it, and why
• Airtight risk control techniques for protecting trading capital—the most important component of a professional trading career

After spending many years on various trading desks, Carter has developed an intuitive understanding of how the markets work. In Mastering the Trade, he gives you unlimited access to everything the markets have taught him—so you can make an exceptional living on the frontlines of professional trading.

Mastering the Trade, Second Edition: Proven Techniques for Profiting from Intraday and Swing Trading Setups Book Riview

The chapters on psychology (1 and 2) are spot on whether you trade futures or stocks. Chapter 3 (Tools for Traders) is a little random doesn't really concentrate on tools more so buy a decent computer which you should know already and get some good quotes with other things thrown in Chap 4 - futures trading. Well either you trade futures or you don't but this showed me that even if you don't you should still watch the futures market because in many cases this drives the stock market - that was key information for me. Chap 5 Intro to options will save you money if you listen by steering away from buying out of the money options. Chap6 Eye Opener - talks about market internal indicators that I personally had not seen written about in any other book - very good information Chapter 7-22 are all about setups. There is enough information to get you hooked and interested but not enough to make you profitable without 1) purchasing indicators and 2) taking more of their training. This is why I couldn't give it a 5. The setups are nice but just enough to be dangerous to your account. I guess I cant really blame them because who wants to give away all of their hard won information for the price of a book. The squeeze and the waves are the main indicators. The propulsion play chapter on stocks needs a lot of work not enough explanation at all on how to enter the trade and exit the trade. In general not enough information on exits in the setups. Most of these setups concentrate on day traders so be wary if you aren't a day trader because many of them won't work. Part3 chap23- 26 Book returns to form - great information. Sample Trading plan is worth its weight in gold
Bottom Line: This is one of the better books you can ever read on trading. Will not reveal all of their secrets but will put you ahead of the uninformed by leaps and bounds. You will most likely have to purchase some of their other training material to finally have it all click but most books are intros to trading services anyway. Get online Mastering the Trade, Second Edition: Proven Techniques for Profiting from Intraday and Swing Trading Setups today