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You can be free. You can live and work anywhere in the world, be independent from the routine, and not answer to anybody.
This is the life of a successful trader.
Many aspire to it but few succeed. Newcomers often fail to prepare for the markets tough challenges. They keep making serious mistakes that could easily be avoided.
This book will help you decide whether trading is for you and teach you its key essential rules.
Success in trading is based on three Ms: Mind (psychology), Method (tactics), and Money (risk management). Each of these areas is covered in its own section of this ebook. The final section covers such practical topics as record-keeping, finding a broker, beginning to trade and continuing education.
How this book is organized
Free updates & the honor code
Is it possible to trade for a living?
Can anyone become a successful trader?
MIND – Trading Psychology for Beginners
What you need to succeed
Who should not trade?
A trading aptitude test
Trading psychology resources
METHOD: Trading Rules for Beginners
Two ways to analyze markets
Mind the gap between price and value
Live data and day-trading
Going long, selling short, or spreading
What stocks to trade
Futures, options, and forex
Use multiple timeframes
Discretionary and systematic trading
MONEY MANAGEMENT for Beginners
The three essential numbers for every trade
The 2% Rule
The 6% Rule
Trade sizing – the iron triangle of risk control
What account size is good for beginners?
PRACTICALITIES for Beginners
What is your edge?
Opening a brokerage account
Continuing education: books, software, etc.