How to Make Money in Trading
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- 20-02-2023, 09:12
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- voska89
How to Make Money in Trading: A Beginner's guide to Profit from Swing and Day Trading - Fundamentals, Trading Strategies, Risk Management, Discipline and Psychology by James Miller
English | 2022 | ISBN: N/A | ASIN: B0BMTFTWD5 | 206 pages | MOBI | 11 Mb
This book is meant to give you a jumpstart in your day/swing trading journey if you are just starting out or bring consistent profitability in your practice if you are struggling to achieve the same. I have written this book in a simple and concise manner, without unnecessary jargon.
It took me years to get to this level of consistency as I went through multiple online courses and various books, jumping from one strategy to another, one indicator to another, and one tool to another. I have designed the content of this book in such a way that it can accelerate your learning curve and bring you to this level in a much shorter period. We will cover everything from Fundamentals to Trading Strategies, Risk Management, Disciplined approach, Trading tools, Journaling and Trading Psychology.
I am not a professional analyst. I do not run an equity trading empire. I am a working professional, father of 2 kids who just happened to taste the world of trading and was hooked from the get-go!
Why did I write this book? Does anyone even care what a regular person has to say about day trading? Or maybe, being a nobody is my strength? Any aspiring trader can relate to my journey and learn from it. Anyways, that is beyond the point. My motivation for writing this book was very personal, but the learnings are widely applicable. I discovered during my learning phase that a lot of good information is available out there but is scattered across sources. And there is a lot of misleading content as well. I had innumerable learnings from my own struggles as a novice trader. I started documenting my learnings, strategies, and process so that I have that knowledge on paper. I never meant to write a book. But over time, my notes looked very comprehensive, and I thought, why not publish it? Maybe someone else out there may benefit from it.
If I can convey one message through this entire book, it would be this: Success in day trading or any other pursuit is a process and not an event. Engage in the process, and success will follow! This book will set you on the right path to success in trading by bringing the crux of what I have learnt and practised over the years, which has helped me become a consistently profitable trader. I hope, with this book, I will be able to make a positive difference in your trading journey!
Contents:LET'S GET STARTED - THE BASICS: Investment vs Swing Trading vs Day Trading, Fundamental Analysis vs Technical analysis, Long & Short, Stop Loss, Risk to Reward Ratio, Bid & Ask, Buy/sell Order types, Algorithmic trading, Sending the order (trading platform) vs actual fill (broker), Types of charts, Key components of a chart
CANDLESTICKS & PATTERNS
TRENDS: Up-trend, Down-trend, Sideways trend (Consolidation), Sub trends within a major trend
SUPPORT & RESISTANCE
KEY TECHNICAL INDICATORS: Moving Averages, Volume, VWAP, Bollinger Bands, Keltner Channels, Pivot Points, ATR
IMPORTANT LESSONS BEFORE GETTING INTO TRADING STRATEGIES: Volume Price Analysis (VPA), Risk Management, The Beauty of Probability and Risk to Reward Ratio
BASIC CHART PATTERNS (STRATEGIES):
TREND CONTINUATION PATTERNS: ABCD Pattern, Elliot waves and the key takeaways for ABCD pattern trading, Other Common Continuation Patterns (Triangle/Wedge/Flag/Pennant etc)
REVERSAL PATTERNS: Head and Shoulders, Inverse Head and Shoulders, Triple top/Triple bottom, Double top/Double bottom
OTHER STRATEGIES: Opening Range Breakout (ORB), Parabolic Reversals
PREWORK/PREPARATION for Trading day
ADVANCED STRATEGIES (Putting it all together): Gap Fills, BB-KC-MIO, Zoom In
ACTIVE TRADE MANAGEMENT
TECHNOLOGY & TOOLS - Trading/charting platforms, Brokers, Scanners
MAINTAINING A JOURNAL
TRADING PSYCHOLOGY
20 TIPS TO BE CONSISTENTLY PROFITABLE.
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