by Noble Drakoln (Author)
Front Jacket
Financial markets have changed dramatically over the last few years, but there are still opportunities available within them. And while there are no shortcuts to trading success, you can improve your chances if you learn how to Trade Like a Pro. Nobody understands this better than author Noble DraKoln, and with this timely guide, he'll help you look at trading through the eyes of a professional and show you how to carve out your own path in the markets with a set of strategies that will allow you to grow and preserve capital.
Written with the serious trader in mind, this book skillfully shows you how to: construct trades that carefully incorporate spot, futures, and options together; diminish your risk profile and maximize profit potential; determine the risk/reward of staying in a trade; and much more.
Divided into three comprehensive parts, this reliable resource opens with a detailed discussion of what it takes to transition from the mindset of a retail trader to that of a professional trader. You'll gain valuable insights into the motivation, financial savvy, and psychological differences between professional and retail traders, and become well equipped to deal with today's dynamic markets. After this informative introduction, Parts Two and Three of Trade Like a Pro outline fifteen different high-profit, low-risk trading strategies. Nine basic strategies, which were initially introduced in DraKoln's previous book, Winning the Trading Game, are now analyzed in more depth, and six advanced risk management strategies--meant to build upon the knowledge that you gain here--are also covered.
Included among the strategies are:
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Using options as a stop or as a risk management tool
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Creating synthetic options to minimize transaction costs
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Using straddles and strangles to trade news events
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Using collars to create limited loss/defined profit scenarios
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Using spreads to take advantage of seasonal tendencies
Along the way, you'll also learn how to combine certain strategies to improve your odds of success.
Trading is a difficult endeavor and requires a set plan built around proven strategies, discipline, and intelligent decisions. With Trade Like a Pro as your guide, you'll quickly discover how to create a plan that will allow you to manage risk and capture profits in almost any market.
Back Jacket
Praise for Trade Like a Pro
"Noble's commitment to the individual trader is exactly what traders need during these volatile times. He has knowledge that spans across markets and is worldwide. He is a valued contributor to the TraderPlanet.com community, and this book further demonstrates his dedication to educating traders and helping them become more successful."
--Lane J. Mendelsohn, Publisher, TraderPlanet.com
"In a time when, on a global level, important things are happening to the financial industry, when new profit opportunities as well as risks are revealed, the book Trade Like a Pro offers a complete picture concerning the risk administration techniques."
--Teodor Ancuta, President and General Manager, Sibiu Stock Exchange
"Trade Like a Pro is a comprehensive presentation of all the basic trading strategies that belongs in every investor's library. Whether your specialty is futures, options, or stocks--or, for that matter, a combination of all three--you will find yourself going back to this valuable reference guide again and again. Everything rings true. Moreover, the author gives you the pros and cons of each respective strategy without imposing his own point of view. Well researched and presented."
--George Angell, author of Small Stocks for Big Profits and Winning in the Futures Market
"Armed with good intentions, most new traders are unaware of the realities involved. Although there is often the belief among novice traders that profitability will be easy, the evidence strongly suggests otherwise. In his new book, Trade Like a Pro: 15 High-Profit Trading Strategies, Noble DraKoln offers a thoughtful approach to making the transition from unsuccessful retail trader to the arena of the professional, which is imperative for lasting success as a trader."
--Ron Rossway, President, Denver Trading Group
Author Biography
Noble DraKoln is founder of SpeculatorAcademy.com, a futures and Forex educational company, where he focuses on the development, management, and promotion of the company's core philosophy of "focusing on the trader not the trading." Prior to this role, DraKoln served as the president of Liverpool Derivatives Group, Inc., a futures and Forex brokerage, for eight years and as a professional sugar trader. He speaks regularly at industry conferences in the United States and Europe and has written articles for numerous financial publications. DraKoln is also an NFA Arbitrator, as well as the author of the Wiley title Winning the Trading Game.