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Trading Playbook (Paperback)
Loot Price: R648
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Trading Playbook (Paperback)
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Traders have a tendency to over-complicate. Many search for the
latest new indicator that will give them an edge, or a new trading
strategy to deliver bigger wins. The message of The Trading
Playbook is to forget all of this and concentrate on three solid
foundations to improve your trading performance: Simplicity - focus
on price action alone. Probabilities - take trades where the odds
are in your favour. Hard work and screen time - put in the effort
to build up your trading experience. Hard work and screen time is
down to the individual, but The Trading Playbook will guide you
towards simplifying your trading and thinking in terms of
probabilities. Michael Gouvalaris describes two straight forward
trading plans that eschew complicated indicators and focus on
probable outcomes. The first of these two plans - the day trading
playbook - is based around ten different daily situations that can
occur in the futures market. Between these ten daily set-ups, every
single scenario is accounted for. The reader is shown how to
determine what day type is in progress by studying that day's open
and gap, and then high probability and low probability price action
for each day type are given.Alongside the ten day types, the simple
technical analysis tools of support and resistance and measuring
market volatility are employed. The second trading plan - the swing
trading playbook - describes effective ways to identify the trend,
how to find ideal spots to enter trades in the direction of the
trend, and also how to identify signals that warn of potential
trend failure or reversals. Readers will learn simple and highly
effective tools for spotting high probability entries and exits for
trades. Again, basic technical analysis tools are employed,
including measured moves, box theory and A-B-C waves. The key
benefits of the two day trading and swing trading playbooks are
that they give traders a well-defined plan to follow. This
alleviates many of the big mistakes traders make, such as
over-trading and cutting winners too early, or sitting in losing
trades too long. If you are on the lookout for some trading ideas
to simplify your analysis and refine your approach, The Playbook is
for you.
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