Sam Eder - The Consistent Trader: How to Build a Winning Trading System, Master Your Psychology, and Earn Consistent Profits in the Forex Market
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How to Trade Smarter Than Wall Street and Quants
By popular demand, the book version of the much acclaimed Forex Course for Smart Traders is here.
Most traders learn to trade the wrong way.
Its only years later they realize their trading system has been focused on all the wrong things.
Instead, save yourself countless hours and dollars by learning to trade Forex based on the principles and practices of historys greatest traders.
Learn what really works and what doesnt. Its doing the simple things well that will yield the best results in trading. If you fail to master the fundamentals of successful trading, you are virtually guaranteed to fail long-term because of poor risk management.
In this book you will learn:
The 25 beliefs of highly successful traders and how to model them
The scientific path to financial freedom using a trading system that creates consistent profits again and again
How to develop a working model of the forex market that allows you to spot opportunities and avoid mistakes
How to get an edge and trade like the house without an algorithm or inside information
How to set simple objectives before you trade that let you risk less and win big more often
The formula you must know for proper position sizing and minimal risk
The key to developing a winning Forex system by understanding market types
Damn good Forex set-ups you can start using right now
How to stalk a low risk / high reward entry point
How your stops get hunted and what to do about it
Trading whats in front of you with a complex exit strategy
Trading after the trade: advanced trade management techniques that keep you in winning positions
How to run your trading business like a hedge-fund
How to be mistake-free
How to avoid system death for good
How to develop the master trader mindset
The one secret the worlds top trading psychologist recommends
How to balance your trader, analyst, and risk manager roles
Constructing advanced position sizing algorithms
The 12 daily tasks of top Forex traders
How to get in the trading zone like an elite athlete
The essential keys to structuring your trading plan and executing your consistent trading strategy
Consistent Trading is the Key to Wealth
This book is not for everyone.Forex trading isnt easy. For a few, those that do achieve mastery, its life changing. Success in Forex trading is not a mystery. It is a process that can be modeled by anyone willing to put in the time and effort.
It takes time, hard work and the mental flexibility to step outside your comfort zone.
No matter where you are in your trading it will take you to the next level. By applying the techniques and strategies in this book with patience and discipline you will grow and achieve mastery as a trader.
If you are interested in books like Principles: Life and Work by Ray Dalio, How to Day Trade for a Living by Andrew Aziz, The Intelligent Investor by Benjamin Graham, How to Make Money in Stocks by William J. ONeil, or How I Made $2,000,000 in the Stock Market by Nicolas Darvas, then this book is for you!
If you want to know more about the following then scroll up and click buy now:
Forex and investments
Day trading strategies
What really drives the price of stocks day-to-day
Investing strategies for beginners and experienced traders
Technical analysis and trading tools
By popular demand, the book version of the much acclaimed Forex Course for Smart Traders is here.
Most traders learn to trade the wrong way.
Its only years later they realize their trading system has been focused on all the wrong things.
Instead, save yourself countless hours and dollars by learning to trade Forex based on the principles and practices of historys greatest traders.
Learn what really works and what doesnt. Its doing the simple things well that will yield the best results in trading. If you fail to master the fundamentals of successful trading, you are virtually guaranteed to fail long-term because of poor risk management.
In this book you will learn:
The 25 beliefs of highly successful traders and how to model them
The scientific path to financial freedom using a trading system that creates consistent profits again and again
How to develop a working model of the forex market that allows you to spot opportunities and avoid mistakes
How to get an edge and trade like the house without an algorithm or inside information
How to set simple objectives before you trade that let you risk less and win big more often
The formula you must know for proper position sizing and minimal risk
The key to developing a winning Forex system by understanding market types
Damn good Forex set-ups you can start using right now
How to stalk a low risk / high reward entry point
How your stops get hunted and what to do about it
Trading whats in front of you with a complex exit strategy
Trading after the trade: advanced trade management techniques that keep you in winning positions
How to run your trading business like a hedge-fund
How to be mistake-free
How to avoid system death for good
How to develop the master trader mindset
The one secret the worlds top trading psychologist recommends
How to balance your trader, analyst, and risk manager roles
Constructing advanced position sizing algorithms
The 12 daily tasks of top Forex traders
How to get in the trading zone like an elite athlete
The essential keys to structuring your trading plan and executing your consistent trading strategy
Consistent Trading is the Key to Wealth
This book is not for everyone.Forex trading isnt easy. For a few, those that do achieve mastery, its life changing. Success in Forex trading is not a mystery. It is a process that can be modeled by anyone willing to put in the time and effort.
It takes time, hard work and the mental flexibility to step outside your comfort zone.
No matter where you are in your trading it will take you to the next level. By applying the techniques and strategies in this book with patience and discipline you will grow and achieve mastery as a trader.
If you are interested in books like Principles: Life and Work by Ray Dalio, How to Day Trade for a Living by Andrew Aziz, The Intelligent Investor by Benjamin Graham, How to Make Money in Stocks by William J. ONeil, or How I Made $2,000,000 in the Stock Market by Nicolas Darvas, then this book is for you!
If you want to know more about the following then scroll up and click buy now:
Forex and investments
Day trading strategies
What really drives the price of stocks day-to-day
Investing strategies for beginners and experienced traders
Technical analysis and trading tools
Sam Eder: author's other books
Who wrote The Consistent Trader: How to Build a Winning Trading System, Master Your Psychology, and Earn Consistent Profits in the Forex Market? Find out the surname, the name of the author of the book and a list of all author's works by series.
Laurentiu Damir
Laurentiu Damir
Laurentiu Damir
The Consistent Trader: How to Build a Winning Trading System, Master Your Psychology, and Earn Consistent Profits in the Forex Market — read online for free the complete book (whole text) full work
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Copyright 2018 by Sam Eder. All Rights Reserved.
No part of this publication may be reproduced, distributed, or transmitted in any form or by any means, including photocopying, recording, or other electronic or mechanical methods, or by any information storage and retrieval system without the prior written permission of the publisher, except in the case of very brief quotations embodied in critical reviews and certain other noncommercial uses permitted by copyright law.
Published by TCK Publishing
www.TCKpublishing.com
www.TCKpublishing.com
Get discounts and special deals on our best selling books at
www.TCKpublishing.com/bookdeals
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Contents
Free Online Course and Interactive Worksheets
This book is accompanied by an online course with videos, interactive worksheets and additional resources to help you develop your trading skills.
If you watch the videos and do the worksheets as you go through the book your learning experience will be that much greater.
All the material is free, so go ahead and sign-up for access.
www.fxrenew.com/forex-course
Disclaimer
The following is meant for informational purposes only. Please consult your investment advisor before trading Forex
The Road Map to the Consistent Trader
I believe anyone can do this job; I dont think you have to be born to do it.
~ Stuart Walton
Welcome to The Consistent Trader .
Why do I focus on consistency?
Firstly, if you can produce consistent profits, it can make a measurable difference in your life. A 20-30% return on your capital per year (2-3% a month) from active Forex trading significantly adds up over your lifetime. While larger returns are certainly possibleand you will learn more about how to achieve them in this bookconsistent returns are highly desirable.
Secondly, consistent trading is easier . If you are consistently winning, its easier to both build and operate your trading systems. You will trade in a more relaxed and happy manner and ultimately make fewer mistakes, which is highly desirable, because mistakes kill trading systems.
Thirdly, its a scientific process. If you include the elements of The Consistent Trader in your trading plan, you will go from trading failure to success in a step-by-step manner. There is no guesswork here. All you must do is follow a disciplined process that will take your trading to a point where you are achieving your financial goals each and every year.
In this book, we go through several lessons on how to be a consistent trader. These include:
- How to identify the market type so you can trade the correct strategy for the current conditions
- How to find damn-good set-ups to increase your winning probability
- How to stalk a low-risk/high-reward entry point
- How to set proper objectives
- How to build a position-sizing model to achieve your objectives
- How to protect yourself from losses with a hard-to-hit stop-loss
- How to trade the market that is in front of you with a complex exit strategy
- How to stay calm and be mistake free for perfect order execution
The Market Wizards
In 1989, Jack Schwager released his first book in a series of four containing interviews with some of the best traders and investors of the time. It was titled Market Wizards: Interviews with Top Traders. Since then, traders and investors who have been interviewed in Schwagers books have been given the title Market Wizard.
Throughout this book, you will find quotes from these Market Wizards, as well as guidance on how to apply their best practices and principles to Forex Trading. I credit one of these WizardsDr. Van K. Tharpin particular, and both he and the other Market Wizards have had a huge influence on my development as a trader. I owe them a debt of gratitude for sharing their thoughts and insights.
Download the Interactive Forex Trading System Template
Throughout the book, you will be working on your trading plan.
To help you do this, we provide you with an interactive trading plan template called My Trading System, which will ultimately tell you:
- What to trade
- How much to trade
- When to trade
- When to exit the trade
You can download and print the Forex Trading System template for free when you subscribe to my free course: www.fxrenew.com/forex-course
This book is made up of just over twenty chapters and broken into roughly three sections, which are as follows:
Foundations of Strength
The realization that you are responsible for your results is the key to successful investing. Winners know they are responsible for their results; losers think they are not.
~ Van Tharp
In the first section of this book, you will begin your transformation into an accomplished Forex Trader. You will learn how your beliefs shape your trading and how to change your beliefs into those of a top trader. You will develop a model of the market that guides decision-making, and you will develop extreme clarity in your Forex trading goals and objectives.
The importance of foundations cannot be overstated. It is possible to jump straight into building a winning Forex trading system without them, but most people who do this eventually make mistakes that cost them all their profits and then some. Importantly, people who trade without building a good foundation tend to ask the wrong questions . They dont think like top traders, setting themselves up for failure and not success.
By developing the foundational skills of objective setting and risk management, by cultivating a knowledge of risk/reward, statistics, and probabilities, and by understanding what works and what doesnt, you automatically put yourself in the top percentage of market participants. This makes building and maintaining a profitable Forex trading system much easier over the long-term. Anyone can get lucky in Forex and make one or two good trades, but you want to have a winning system that works year after year after year.
Building a Winning Forex Trading System
Frankly, I dont see markets; I see risks, rewards, and money.
~ Larry Hite
In this section, we take a step-by-step approach to building a winning Forex trading system. This starts with defining market types. Expecting the same trading system to work in all types of markets is a fools hope and a common trading mistake. You will learn how to get an edge over the market through different set-ups and how to implement trades and time your entries and exits for maximum gain.
Finally, you will learn how to use position sizing to achieve your objectives, along with advanced trade-management techniques that greatly improve your consistency as a trader.
Developing the Master Trader Mindset
Pride is a great banana peelas are hope, fear, and greed. My biggest slip-ups occurred shortly after I got emotionally involved with positions.
~ Ed Seykota
In the final part of the book, we focus on your trading psychology. This is to prepare you to execute your systems mistake-free, even when you have large amounts of money on the line.
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