Publishing details
HARRIMAN HOUSE LTD
3A Penns Road
Petersfield
Hampshire
GU32 2EW
GREAT BRITAIN
Tel: +44 (0)1730 233870
Fax: +44 (0)1730 233880
Email: enquiries@harriman-house.com
Website: www.harriman-house.com
eBook edition first published in Great Britain in 2013
Copyright Harriman House Ltd 2013
Foreword Alexander Elder 1999
The right of John Piper to be identified as the Author has been asserted in accordance with the Copyright, Design and Patents Act 1988.
ISBN: 978-0-85719-285-1
British Library Cataloguing in Publication Data
A CIP catalogue record for this book can be obtained from the British Library.
All rights reserved; no part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise without the prior written permission of the Publisher. This book may not be lent, resold, hired out or otherwise disposed of by way of trade in any form of binding or cover other than that in which it is published, without the prior written consent of the Publisher.
No responsibility for loss occasioned to any person or corporate body acting or refraining to act as a result of reading material in this book can be accepted by the Publisher or by the Author or by the employer(s) of the Author.
This book is dedicated to all those who are struggling with markets, whoever and wherever they may be.
About the Author
John has been trading markets since the mid 1980s, mainly writing options but also trading futures, spread and binary betting. The highlights have been trading right through the 1987 Crash (mainly selling put options hence the lack of hair!), annual turnover exceeding 2m of option premiums on his personal account, managing money in excess of $1m, winning a TV trading contest, and generally spending far too much time glued to screens.
Whilst abusing himself in this way he also decided to help other traders and started The Technical Trader in 1989, which has become the leading trading newsletter in the UK. The newsletter filled a void, has helped many traders over the years and is now on the web.
Over the years John has developed a number of trading techniques; he summarises his approach as Psycho-Trading meaning getting into the mind of the market.
John spends his time in the Sussex Hills but makes frequent trips to warmer climes with the Hash House Harriers a club for those who like a drink but who have a running problem!
John runs a market service looking for the BIG calls. His business partner Mark Austin runs a shorter-term service on FTSE.
Other books by John Piper:
- The Way to Trade
- The Fortune Strategy
- Profit Before Work
- Binary Betting
- Binary Trading
- Tunnel Trading
- The Business of Trading
- The KrautGap Modules
If you would like to receive Johns free news sheet send a blank email to jptt@aweber.com.
The author welcomes feedback and can be contacted at john@john-piper.com; his website is www.johnpiper.info.
Why you need this book
If you are an individual trader, whether a novice or experienced, you will benefit from reading this book because:
- Trading the futures and options markets leads to a greater compounding of wealth than any other method available. Billions have been made in days on many occasions, and will be made again. Nothing else comes close.
- It is possible to make money in the markets consistently. It is possible to beat the market. The author, John Piper, among many others, has done it. To do the same you need to follow a proven methodology which suits your personality. This book explains how.
- This book also sets out a number of proven methodologies, giving you a head start in selecting the one which will work for you.
- But it also goes a lot further. John Piper wrote this book because he had never come across a book which deals with the whole issue of trading. There are many books which deal with market analysis, and technical analysis techniques. There are many books which deal with psychology. There are books which deal with money management and all manner of other subjects, some even cover a range of topics. But no other book covers it all, from a successful philosophy of trading, through all the psychology, into the methodologies, the operation thereof, and the end result.
- It is rare to find a book which appreciates that it is no good doing it how I say. We each have to find our own route to success. This book spells out why that is, and how to do it. That is what The Way to Trade is all about.
- The futures and options markets offer the biggest potential for growth, far more than is offered by stock markets. The people who really make it big do so in these markets. Perhaps more importantly you can make money whether markets go up or down. In coming years this may be important.
Fascinated? You should be, and anyone who is into money, and wants lots more of it should check out this book. Rich or poor, working or retired, there is something for everyone in these pages.
Why this book is unique
Trading is a life experience, it is not like any other business. As you become a better trader, you become a better person. But as you evolve it is difficult to look back at where you were. I believe this is why there are no other books which cover all the ground. Those traders who do make it often forget how they got there, not surprisingly, as a lot of the skills become subconscious.
However, John has always combined his trading with writing about markets. This has given him a fairly unique insight and forced him to express personal matters which other traders just assume. It has also forced him to more carefully examine the precise process involved in becoming a successful trader. It is solely through this process that John Piper discovered the Trading Pyramid. This is the first attempt to create a model for trading success and traders will find it immensely useful.
So not only does this book take the trader right through from the beginning to the end result (trading profits, lots of them!) it also provides a framework against which to work.
There are no right or wrong ways to trade
The only thing that counts is the result. This book sets out a range of parameters within which to build the system that suits you. The beauty of trading is that it becomes an expression of your own personality. Good traders dont do, they simply are. But to become a good trader you have got to find the approach which will work for you. This book, and the follow-up services that are available with it, will help you do just that.
Follow your own path
But to get there you must follow your own path. It is no good following the trades other people do. Certainly you need help to learn this business, which is what this book is all about. You need a mentor, but you do not need gurus who tell you how to trade. You will only win by trading your way. Indeed Frank Sinatras big hit My Way is an excellent anthem for any trader. Taking that step to do it by yourself is one many traders find the most difficult, but it is essential.
If you dont want to do it your way then you are better off giving your money to another trader, like John Piper, so that he can trade it for you. But make sure you check out the track record and risk profile first.