The 21 Irrefutable Truths of Trading:
A Trader's Guide to Developing a Mind to Win

Description:

Today's volatile financial marketssurging then plummeting, often in a single day-attract hordes of profitseeking traders with huge financial dreams, limited experience, and little or no knowledge of the discipline required for success. Experienced veterans welcome these new traders with open arms, quickly take their money, then send the majority home to lick their wounds and wonder where they went wrong.

What do successful traders know that allows them to survive and thrive in the giveno-quarter, take-no-prisoners marketplace? What have they learned that keeps them in the game, profiting day in and day out from the mistakes of others?

#4 - Disciplined traders are consistently profitable.

Successful traders know the markets, of course. But more importantly, they know themselves. The 21 Irrefutable Truths of Trading reveals the wisdom that, in the past, most traders could only learn through costly experience. Certainty ... confidence ... intuition ... persistence ... integrity ... To the successful trader, these are more than just words.

They are the difference between success and failure. And The 21 Irrefutable Truths of Trading shows you how to develop these traits for yourself-and use them every trading day to maximize your winning trades, minimize your losses, and build a limited risk, sustainable, and profitable trading career.

#9 - Flexible traders adapt as the markets change.

Once you know the truths revealed in this one-of-a-kind trader's guide you must, of course, understand how to apply them to the markets.

The 21 Irrefutable Truths of Trading is packed with strategies, techniques, tips, and tactics to profit from your newfound knowledge, including:

- How to use the Relative Strength Index (RSI) to quickly-and confidently determine a trend

- Strategies to control overnight risk without exiting your positions

- Using the reward-to-risk ratio to determine profitability of a particular methodology 0 5 decisions that will either enhance- or diminish your ability as a trader - Tips on using the power of the computer to optimize your trading methodology

#1 - Egotistical traders & traders with false beliefs always lose.

The 21 Irrefutable Truths of Trading is

the first book to show you how to become a winning trader-by learning how not to lose. Its goal is to help you master the physical aspects of the trading environment by first mastering your internal mental and emotional environment.

Are you ready to join legions of successful traders-rich and experienced professionals who have learned to control their emotions every second of every trading day? Men and women who wait patiently for unsuspecting new traders to bring their fistfuls of hardearned dollars to the table? Then cast aside your preconceived notions, turn your back on stubborn beliefs that hold little truth and even less value, and discover the hard-won lessons of the pros-by discovering for yourself the 21 irrefutable truths of trading.

Contents:

Acknowledgments vii

Part 1. The Virtues, Vices, and Beliefs of Outstanding Traders

1 Introduction 3
2 Egotistical Traders and Traders with False Beliefs Always Lose 13
3 Faith: The Foundation of All Outstanding Traders 35
4 Confidence Is Required for Success 41
5 Disciplined Traders Are Consistently Profitable 47
6 Courageous Traders Win Big 55
7 Intuition Doesn't Mean "Into Wishing" 63
8 Persistent Traders Love to Trade 73
9 Integrity-Much More Than Mere Honesty 77
10 Flexible Traders Adapt as the Markets Change 81
11 Fear-Everyone Has It; You Must Control It 87
12 Anger: Easy to Feel, Liberating to Overcome 97
13 Doubt and Indecision-A Surefire Way to Ruin 103
14 Losing Money: The Trader's Cost of Doing Business 109
15 Consistent Profits Come from Empowering Beliefs 119

Part 2. The Strategies of Successful Trading

16 The Strategy of Determining the Market Consensus 127
17 Entry and Exit Strategies 149
18 Money Management Strategies 161
19 Developing a Written Strategy for Trading Your Methodology 197
20 Fundamental Analysis Strategies 203
21 Computer Systems and the Fallacy of Optimization 209
22 Length of Time to Master Trading Skills 213

Conclusion: Bringing It All Together 217

Appendix A: Comparison Table of Virtues versus Vices 223
Appendix B: Resources 225

Index 229