The Four Cardinal Principles of Trading by Bruce Babcock
Professional traders utilize a wide variety of approaches to attack the markets. Regardless of the approach, virtually every top trader abides by the four cardinal principles: Trade with the trend, Cut losses short, Let profits run and Manage risk. While almost everyone pays lip service to these concepts, almost no one actually implements them correctly in their trading. This may be because while they know the principle, they don't know what it means. Or they may think they are applying the correctly understood principle when in reality they are not. Or they may rationalize that a particular principle is not important in their unique situation.
In his latest book, The Four Cardinal Principles of Trading, trading expert Bruce Babcock explains each principle and shows readers many alternatives for implementing the principles in their own trading. In interviews with top trading professionals such as Larry Williams, Jake Bernstein, Jack Schwager and eighteen others, the book demonstrates that while there are many ways to trade, nearly all successful methods incorporate these axioms in some way. Yet, as all traders learn through costly trading miscues, these principles are exceedingly difficult to master. Learn from the experts how to integrate these basic truths into your own trading.
Live The Dream By Profitably Day Trading Stock Futures by Gary Smith
Written by the only person with a documented 10-year record of day trading success, with over 10 years of experience day trading the NYFE, the S&P and the MidCap. 95 of the last 122 months profitable. Average yearly return 86%.
Gary Smith has succeeded in identifying non-random, exploitable situations in daily stock futures price action. He describes his approach as 80 to 90 percent mechanical. This book shows you the mechanical rules he follows and shows computerized test results that verify the validity of his approach. He also describes in detail the other 10 to 20 percent of his methodology that is not strictly mechanical. You can start day trading like Gary with an account as small as $5,000. You can trade (as Gary often has) using only a telephone. Or watch prices like Gary does on the CNBC cable station. We are willing to bet that reading this book will be one of the most exciting experiences you have had in your entire futures trading career.
Profitable Commodity Trading From A to Z by Bruce Babcock
This book contains much of the important commodity trading information published in Commodity Traders Consumer Report during the first ten years of its existence. It includes over 270 separate articles on all aspects of profitable trading written by over 60 contributing authorities. Topics are organized alphabetically in a huge index for easy reading and reference.
As a special bonus an appendix contains never before published long-term historical results of 21 commodity advisory services with a complete statistical breakout of yearly performance.
The Dow Jones-Irwin Guide to Trading Systems by Bruce Babcock
(Now called The Business One-Irwin Guide to Trading Systems)
This book will show you the essence of successful trading, explain why a mechanical approach is best, and then teach you everything you need to know to choose a system right for you. It doesn't stop there. It teaches you the correct money management techniques that are essential to success. Finally, it gives you the psychological insights necessary to turn a good system into bottom-line profits. Even those who have never traded before will understand and enjoy it.
This is the first book ever which methodically examines which techniques work and which do not. The various entry, exit and stop-loss techniques are hypothetically tested over 5 years in 10 diversified markets. For the first time, you can see for yourself the comparative performance of most of the well-known approaches.
For this book Bruce Babcock devised a special system which knocks the socks off every other system and idea discussed in the book. All the rules and its detailed performance (including all trading signals for the last 5-6 years) are in the book. As Bruce will show you, it is relatively easy to curve-fit a system to past data in one market. This is the most profitable system ever published which uses the same rules to trade all markets.
Bruce's book explains everything you'll need to understand and exploit commodity futures trading systems. You'll learn proper testing techniques, the dangers of optimization, how to evaluate systems offered for sale, and how to create you own system from scratch. After reading the hilarious chapter on the history of system merchandising, you'll have a whole different perspective when the next pie-in-the-sky brochure arrives in the mail.
You will find this book easy to read and full of ideas you can use. When you consider its price next to the thousands of dollars you could pay for one junky system, it is quite a bargain. It comes with an unconditional guarantee of satisfaction.
Other Book Titles Described in the FREE Catalog of Reality Based Trading Products
Trendiness in the Futures Markets (1997 edition) by Bruce Babcock
Stops For All Seasons Report by Bruce Babcock
High Performance Futures Trading by Joel Robbins
The Options Advantage (includes free newsletter and hotline) by David L. Caplan
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