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High Probability Trading- Marcel Link & mt4 forex proSystem analyzer

High Probability Trading- Marcel Link & mt4 forex proSystem analyzer
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 High Probability Trading- Marcel Link & Only Profit System-mt4 forex analyzer

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.

From the Back Cover

"The Goal Is to Teach All Traders to Think with the Mindset of a Successful Trader..."

While successful trading requires tremendous skill and knowledge, it begins and ends with mindset. What do exceptional traders think when they purchase a quality stock and the price immediately plummets? How do they keep one bad trade from destroying their confidence--and bankroll? What do they know that the rest of us don't?

"Some trades are not worth the risk and should never be done."

High Probability Trading shows you how to trade only when the odds are in your favor. From descriptions of the software and equipment an exceptional trader needs to high probability signals that either a top or bottom has been reached, it is today's most complete guidebook to thinking like an exceptional trader--every day, on every trade.

"It's not how good you are at one individual thing, but it's the culmination of every aspect of trading that makes one successful."

Before he became a successful trader, Marcel Link spent years wading from one system to the next, using trial and error to figure out what worked, what didn't, and why. In High Probability Trading, Link reveals the steps he took to become a consistent, patient, and winning trader--by learning what to watch for, what to watch out for, and what to do to make each trade a high probability trade.

"Why do a select few traders repeatedly make money while the masses lose? What do bad traders do that good traders avoid, and what do winning traders do that is different? Throughout this book I will detail how successful traders behave differently and consistently make money by making high probability trades and avoiding common pitfalls..."--From the preface

Within 6 months of beginning their careers full of promise and hope, most traders are literally out of money and out of trading. High Probability Trading reduces the likelihood that you will have to pay this "traders' tuition," by detailing a market-proven program for weathering those first few months and becoming a profitable trader from the beginning.

Combining a uniquely blunt look at the realities of trading with examples, charts, and case studies detailing actual hits and misses of both short- and long-term traders, this straightforward guidebook discusses:

  • The 10 consistent attributes of a successful trader, and how to make them work for you
  • Strategies for controlling emotions in the heat of trading battle
  • Technical analysis methods for identifying trends, breakouts, reversals, and more
  • Market-tested signals for consistently improving the timing of entry and exit points
  • How to "trade the news"--and understand when the market has already discounted it
  • Learning how to get out of a bad trade before it can hurt you

The best traders enter the markets only when the odds are in their favor. High Probability Trading shows you how to know the difference between low and high probability situations, and only trade the latter. It goes far beyond simply pointing out the weaknesses and blind spots that hinder most traders to explaining how those defects can be understood, overcome, and turned to each trader's advantage.

While it is a cliché, it is also true that there are no bad traders, only bad trades. Let High Probability Trading show you how to weed the bad trades from your trading day by helping you see them before they occur. Packed with charts, trading tips, and questions traders should be asking themselves, plus real examples of traders in every market situation, this powerful book will first give you the knowledge and tools you need to tame the markets and then show you how to meld them seamlessly into a customized trading program--one that will help you join the ranks of elite traders and increase your probability of success on every trade.


About the Author

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.

  • 288 pages
  • Publisher: McGraw-Hill; 1 edition (March 17, 2003)
  • Language: English
  • ISBN-10: 0071381562
  • ISBN-13: 978-0071381567

Throughout this book I’ll give many personal examples, as well as examples involving traders I’ve known who are both good and bad traders.
I’ve known traders who began terribly but were able to turn it around and many who just never learned. I’ll use these examples to help get my point across in stressing what to do and what not to do.
I protect these peoples’ identities to keep from embarrassing some of them. I’m not too proud to say that I was a horrible trader, and I detail all my losing habits as well as those I’ve seen in others along the way.
I always had a great sense of market direction, but there were too many other issues that kept me from succeeding. Once I was able to conquer those weaknesses, and learn to trade


Content :
PART I
THE BUILDING BLOCKS
Chapter 1
The Tuition of Trading 2
Chapter 2
Setting Realistic Goals 
Chapter 3
Leveling the Playing Field 
PART II
USING THE NEWS
Chapter 4
Trading the News 
PART III
TECHNICAL ANALYSIS
Chapter 5
Increasing Your Chances with Multiple
Chapter 6
Trading with the Trend 
Chapter 7
Using Oscillators 
Chapter 8
Breakouts and Reversals 
Chapter 9
Exits and Stops 
Chapter 10
Making the High Probability Trades 
PART IV
TRADING WITH A PLAN
Chapter 11
The Trading Plan and Game Plan 
Chapter 12
System Trading 
Chapter 13
A Little about Backtesting 
Chapter 14
Employing a Money Management Plan 
Chapter 15
Setting Risk Parameters and Making a Money Management Plan 
PART V
SELF-CONTROL
Chapter 16
Discipline: The Key to Success 
The Dangers of Overtrading 
Chapter 18
The Inner Side of Trading: Keeping a Clear Mind



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