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High Probability trading
ISBN: 0071381562     Date Published: 2003-03-17     Author(s): Marcel Link
  Average Customer Rating:Stars Rating  

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288 Pages
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06/20/2013 01:24:30
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Editorial Review - Book Description:
A common denominator among most new traders is that, within six months of launching their new pursuit, they are out of money and out of trading. High-Probability Trading softens the impact of this `trader`s tuition,` detailing a comprehensive program for weathering those perilous first months and becoming a profitable trader.

This no-nonsense book takes a uniquely blunt look at the realities of trading. Filled with real-life examples and intended for use by both short- and long-term traders, it explores each aspect of successful trading.
Customer Review:
Total Reviews: (132)
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(3) Shared
395 of 422 People found the following review helpful.

This book ties everything together, October 25, 2003 ByJames Lor "James Lor" (Montreal, CANADA) - See all my reviews This review is from: High probability trading : take the steps to become a successful trader (Hardcover) I've read some of the reviews (or should I say criticisms) of this book. They write that it's for beginners, there are just a couple of setups, and the obligatory discipline "cut your losses" warning chapter. I think people are missing the big picture.If you want a detailed book about technical analysis, with lots of explanations, setups, etc. etc., there's "Technical Analysis Explained" by Martin J. Pring, or you can buy something by Jack Schwager or John Murphy.If you want a book about building and testing a trading system, there's "Trade Your Way to Financial Freedom" by Van K. Tharp.If you want a self-help book about discipline / psychology, there are a lot of those, some in the investment section, some in the psychology section.If you want a book about day-trading, there are a ton of those as well.The thing I like about this book is that everything is there in one place. At the end of each chapter, the author gives you pointers on what...
170 of 180 People found the following review helpful.

solid, July 30, 2004 Bya professional trader (Colorado Mountains) - See all my reviews This review is from: High probability trading : take the steps to become a successful trader (Hardcover) This is probably one of the most realistic books on what it takes to trade professionally. The author starts by correctly stating how difficult it is to trade successfully. He gives a time frame of 3 to 5 years, although he states it took him seven years to be consistently successful (he refers to himself as a slow learner). He also discusses unrealistic expectations of beginning traders, who typically open accounts of $10,000 to $25,000, and expect to make a living trading such accounts. The author notes that the best fund managers on Wall Street, who can consistently return 35-40 percent, command salaries in the seven and eight figures. Even if a beginner could produce such returns their first year (extremely unlikely), could they live on 40 percent of $10,000? When Wall Street investment firms want to hire a trader, they go to the best business schools, recruit the top graduates, pay them maybe over $200,000 their first year just to sit in training classes for months...
104 of 113 People found the following review helpful.

This is the one!, February 20, 2004 Bybemydemon (CA, USA) - See all my reviews Amazon Verified Purchase(What's this?) This review is from: High probability trading : take the steps to become a successful trader (Hardcover) At the risk of being repetitive, I'm going to have to give this book another stellar review. Like many others, I have read a hundred other trading books and this one stands heads above the rest. The author is obviously an active trader and is not ashamed to divulge his weaknesses, even current ones. He covers all of the necessary bases (psychology, money management, risk management, setups, tradeable markets, etc.) without being exessively wordy. He is one of the few traders who can actually write relatively well. He manages to explain arcane and complex trading concepts using understandable and economical word choices. The review structure at the end of each chapter is an excellent technique to enhance the learning process.Yes, most of the information is more useful to the novice trader but one neeeds a basic comprehensive understanding of trading to get the most benefit. On the flipside, since it is so inclusive, the book could serve as an excellent refresher for the...
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