Description of Secrets of a Professional Futures Trader

'This book will help you to trade like a professional. It is practical. It is not crammed with theories. Theories will usually lose you money.Professional traders are unique in one simple way: they tend to make money over time. Most importantly, when they lose money, it is a small percentage of their trading capital. This one quality, losing a little when a trade is not successful, is the true earmark of the professional.

The book begins with psychology, our own and that of the marketplace. Winners tend to behaviour in certain ways and so do losers. I cover these special traits. You will then see how many human traits, impatience, boredom, panic, greed and others manifest in price behaviour.

Price behaviour is the next area I investigate. I introduce many new methods of price analysis. Winning in any game requires having an edge over the competition. I will show you the importance of the central tendency in price trends; how to construct a new type of trend channel, including buy areas and sell areas; how to track trendlines that are curved; how to recognise blow-offs and shakeouts; how to monitor rather than forecast price cycles; how to recognise overbought and oversold levels on a daily basis; and more. These are the tools that help you be successful.

Next I present a fundamental model which can be applied to any market and which shows you how to tie together the major fundamental forces, the psychology of the marketplace and the price measurements of what is taking place.

Since everyone has a different sensitivity to losing money, I next present a variety of trading programs. I begin with a long term program which will help you work with trends lasting 2 to 9 months. Included is advice on how to gradually add money to your position and how to take profits. Most importantly I advise on how to keep losses to a minimum.

The next time frame covered is from 1 to 10 weeks. Here I introduce several cycle techniques, plus several moving averages which are sensitive enough to recognize new trends early, but not so sensitive that you are stopped out of a position too soon.

Finally, you'll learn several short-term models, some of which are excellent for day trading. These methods will be good for both trending and cyclical markets. You will have stop points to give your broker at the beginning of each day.

You are about to begin a journey that should be both exciting and profitable. To be successful you will learn how to adapt to a constantly changing environment.'

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