High-Probability Trading

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McGraw Hill Professional, Mar 22, 2003 - Business & Economics - 288 pages
6 Reviews

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.

 

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The biggest impact this book had on me, was to change my attitude to trading. His first chapters outlined all my mistakes which gave me the ability to find corrections. I am now a happy trader, still with funds in the account and vision of a future in front of me. I found this to be an excellent book if you are willing to see your own personal faults. 

Contents

Using the News
59
Technical Analysis
77
Trading with a Plan
229
SelfControl
321
Index
385
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Popular passages

Page 364 - Hold on!' If you can talk with crowds and keep your virtue, Or walk with Kings — nor lose the common touch, If neither foes nor loving friends can hurt you, If all men count with you, but none too much : If you can fill the unforgiving minute With sixty seconds...
Page 364 - em up with worn-out tools: If you can make one heap of all your winnings And risk it on one turn of pitch-and-toss, And lose, and start again at your beginnings And never breathe a word about your loss; If you can force your heart and nerve and sinew To serve your turn long after they are gone, And so hold on when there is nothing in you Except the WiJl which says to them: "Hold on!
Page 364 - If you can talk with crowds and keep your virtue, Or walk with Kings — nor lose the common touch, If neither foes nor loving friends can hurt you, If all men count with you, but none too much: IF — If you can fill the unforgiving minute With sixty seconds...
Page 205 - Calculate the standard deviation by taking the square root of the variance: Standard deviation = square root of 6.44 = 2.537716 The standard deviation measures how far each observation lies from the mean.
Page 303 - First, come up with a maximum allowable number of contracts to trade per market; that's the easy part. The hard part is figuring out how much...
Page 371 - As long as people want to make as much money as possible as quickly as possible, there will be greed.
Page 127 - The stochastic oscillator measures a market's most recent close relative to its price range over a specific period of time. The theory...

References to this book

About the author (2003)

Marcel Link has been trading professionally since 1991. He is the founder of linkfutures.com and is a TradeStation consultant. Linkfutures.com serves the trading community with daily commentary on the markets, along with insights into technical analysis, training, marketing, and other information that can be vital to traders. Link can be reached for questions or comments at marcel@linkfutures.com.

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