{"product_id":"survival-guide-for-traders-how-to-set-up-and-organize-your-trading-business-hardback-9780470436424","title":"Survival Guide for Traders; How to Set Up and Organize Your Trading Business (Hardback) 9780470436424","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eSurvival Guide for Traders\u003c\/font\u003e\u003cbr\u003e\r\n\u003cfont size=\"5\"\u003eHow to Set Up and Organize Your Trading Business\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eBennett A. McDowell (Author), Toni Turner (Foreword by)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9780470436424, Wiley\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eHardback, published 20 December 2011\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e352 pages\u003cbr\u003e23.6 x 16 x 3 cm, 0.558 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003e\u003cb\u003eThe must-have guide for anyone considering entering the exciting world of trading from home\u003c\/b\u003e  \u003cp\u003eThe biggest stumbling block for people looking to launch their own trading businesses from home is a failure to understand the complexities of the \"back office\" operations needed to be successful. \u003ci\u003eSurvival Guide for Traders\u003c\/i\u003e is here to help. Packed with strategies for building a successful home trading business, and featuring answers to questions most up-and-coming traders would never think to ask, \u003ci\u003eSurvival Guide for Traders\u003c\/i\u003e is required reading for anyone who wants to start and sustain a trading business from home.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eExplains how to create a trading business plan, set up an office, implement a trading system, use margin, deal with legal and financial issues, and keep appropriate records\u003c\/li\u003e \u003cli\u003eExamines the opportunities and challenges of handling a home-based trading business\u003c\/li\u003e \u003cli\u003eDetails the process of setting up and organizing your trading business\u003c\/li\u003e \u003cli\u003eIncludes a comprehensive \"Trading Business Plan Template\" that you can customize\u003c\/li\u003e \u003cli\u003eWritten by Bennett McDowell, a highly regarded trader and trainer of traders\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eThe book for anyone even thinking about entering the exciting world of trading, the \u003ci\u003eSurvival Guide for Traders\u003c\/i\u003e offers practical solutions that anyone can use in order to build a lasting, thriving home trading business.\u003c\/p\u003e\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e\u003cp\u003eForeword xii\u003cbr\u003e\u003ci\u003eby Toni Turner\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003ePreface xvii\u003c\/p\u003e \u003cp\u003eAcknowledgments xix\u003c\/p\u003e \u003cp\u003eDisclaimer xxi\u003c\/p\u003e \u003cp\u003eIntroduction: Survival of the Fittest xxiii\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART I Survival Basics 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 1 It’s a Jungle Out There! 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBrawn, Brains, and Technology 4\u003c\/p\u003e \u003cp\u003eTechnological and Innovation Time Line 5\u003c\/p\u003e \u003cp\u003eDon’t Bring a Knife to a Gunfight 7\u003c\/p\u003e \u003cp\u003eRight in My Own Backyard 7\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 2 Managing Your Money Is Serious Business 9\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTrust and Financial Advisers 10\u003c\/p\u003e \u003cp\u003eTips on Selecting a Qualified Financial Adviser 11\u003c\/p\u003e \u003cp\u003eSo, Who Are You Going to Trust? 12\u003c\/p\u003e \u003cp\u003eCreating Your Own Business Plan Will Strengthen Your Ability to Prosper 13\u003c\/p\u003e \u003cp\u003eTrade, Invest, and Live within Your Means 14\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 3 Accountability, Setting Stops, and the Rogue Factor 15\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTraders Are the Ultimate Entrepreneurs and Must Be Held Accountable 16\u003c\/p\u003e \u003cp\u003eSetting Stop-Loss Exits Is Essential 17\u003c\/p\u003e \u003cp\u003eThe Infamous Rogue Trader Named Nick Leeson 17\u003c\/p\u003e \u003cp\u003eWatch the Rogue Trader Movie 18\u003c\/p\u003e \u003cp\u003eInsurmountable, Large Losses Usually Start As Small Losses 19\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 4 What’s Your Net Worth? 21\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eNet Worth Statement 21\u003c\/p\u003e \u003cp\u003eCreating Your Financial Profile 22\u003c\/p\u003e \u003cp\u003eAre You Moving Forward, Falling Backward, or Standing in Place? 28\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 5 The Life of an Entrepreneur 31\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eNew Start-Up Businesses Have High Failure Rates 31\u003c\/p\u003e \u003cp\u003eWhat Does It Take for a New Business to Succeed? 32\u003c\/p\u003e \u003cp\u003eSmall Businesses Are the Backbone of the Economy 34\u003c\/p\u003e \u003cp\u003eReduce Your Expenses and Increase Your Revenue 35\u003c\/p\u003e \u003cp\u003eHow to Reduce Expenses 36\u003c\/p\u003e \u003cp\u003eA Penny Saved Is Really One and a Half Pennies Earned 38\u003c\/p\u003e \u003cp\u003eIt’s All About the Revenue 39\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 6 Understanding Financial Markets 41\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBuyer and Seller Agree on Price, but They Disagree on Value 42\u003c\/p\u003e \u003cp\u003eBuyers and Sellers and the Financial Order Flow Process 42\u003c\/p\u003e \u003cp\u003eTypes of Orders 49\u003c\/p\u003e \u003cp\u003eUsing Margin and Leverage 52\u003c\/p\u003e \u003cp\u003eThe Importance of Liquidity and Volume 53\u003c\/p\u003e \u003cp\u003eZero Liquidity 56\u003c\/p\u003e \u003cp\u003eVolatility and Market Gaps 58\u003c\/p\u003e \u003cp\u003eHow Can the Bid and Ask, Spreads, Fills, and Slippage Affect Your Profits? 61\u003c\/p\u003e \u003cp\u003eYou Can Parallel Test Your Broker and Data Feeds 62\u003c\/p\u003e \u003cp\u003e“I Feel the Need for Speed” 63\u003c\/p\u003e \u003cp\u003eSo Many Markets to Choose From 64\u003c\/p\u003e \u003cp\u003eTicker Symbols at a Glance 65\u003c\/p\u003e \u003cp\u003eHow to Choose the Best Data Feed for Your Needs 66\u003c\/p\u003e \u003cp\u003eHow to Choose the Best Broker for Your Needs 70\u003c\/p\u003e \u003cp\u003eHow to Choose the Best Front-End Platform for Your Needs 72\u003c\/p\u003e \u003cp\u003eManias, Panics, and Crashes 73\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 7 Adapting to Changing Market Cycles 75\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFour Major Market Cycles 75\u003c\/p\u003e \u003cp\u003eIt’s All in a Name 78\u003c\/p\u003e \u003cp\u003eUsing Trend Lines to Identify Market Cycles 79\u003c\/p\u003e \u003cp\u003eUsing Elliott Wave Analysis to Identify Market Cycles 80\u003c\/p\u003e \u003cp\u003ePitfalls of Not Identifying Market Cycles Correctly 81\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 8 Education and Support 83\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Few Classic Trading Books 83\u003c\/p\u003e \u003cp\u003eLearning Styles 84\u003c\/p\u003e \u003cp\u003eRepetition, Repetition, Repetition 85\u003c\/p\u003e \u003cp\u003ePaper Trading Is an Essential Learning Tool 85\u003c\/p\u003e \u003cp\u003eDo it Your Way 86\u003c\/p\u003e \u003cp\u003eYou Can Learn from Your Mistakes and Failures 87\u003c\/p\u003e \u003cp\u003eLife Mentors, Professional Mentors, and Trading Coaches 88\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 9 Writing a Business Plan 91\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBusiness Plan: Blank Template 91\u003c\/p\u003e \u003cp\u003eFront Matter: Title Page, Table of Contents, and Mission Statement 93\u003c\/p\u003e \u003cp\u003e1. Summary 94\u003c\/p\u003e \u003cp\u003e2. Strategy 108\u003c\/p\u003e \u003cp\u003e3. Operations 118\u003c\/p\u003e \u003cp\u003e4. Financials 124\u003c\/p\u003e \u003cp\u003eBusiness Plan Tips 128\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart II The Financial Pie 129\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 10 The First Slice: Trading and Investing Rules 131\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDevelop and Test Your System 132\u003c\/p\u003e \u003cp\u003ePerseverance Is the Holy Grail 132\u003c\/p\u003e \u003cp\u003eFailure Is Not an Option 133\u003c\/p\u003e \u003cp\u003eCreating Your Trading Rules Profile 134\u003c\/p\u003e \u003cp\u003eA Note about Day Trading versus Position Trading 138\u003c\/p\u003e \u003cp\u003eHolding Trades Overnight and Assuming Overnight Risk 140\u003c\/p\u003e \u003cp\u003eMy Definition of Scalping 141\u003c\/p\u003e \u003cp\u003eSample Trading Rules to Start With 141\u003c\/p\u003e \u003cp\u003eCombining Fundamental and Technical Signals in Your Trading Rules 142\u003c\/p\u003e \u003cp\u003eTechnical Analysis Signals 143\u003c\/p\u003e \u003cp\u003eFundamental Analysis Signals 146\u003c\/p\u003e \u003cp\u003eValue Investing in a Bear Market 148\u003c\/p\u003e \u003cp\u003eThe Importance of Paper Trading 148\u003c\/p\u003e \u003cp\u003eSet Up Multiple Brokerage Accounts to Monitor Your Trading Results 152\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 11 The Second Slice: Scanning for Opportunities 155\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTechnical Scanning Techniques 156\u003c\/p\u003e \u003cp\u003eFundamental Scanning Techniques 157\u003c\/p\u003e \u003cp\u003eOpportunity Is Always Abundant in the Markets 165\u003c\/p\u003e \u003cp\u003eStocks 165\u003c\/p\u003e \u003cp\u003eOptions 169\u003c\/p\u003e \u003cp\u003eFutures 170\u003c\/p\u003e \u003cp\u003eForex 174\u003c\/p\u003e \u003cp\u003eExchange-Traded Funds 177\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 12 The Third Slice: Money Management 179\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat Can Money Management Do for You? 179\u003c\/p\u003e \u003cp\u003eThree Ways to Control Risk 180\u003c\/p\u003e \u003cp\u003eRisk Factors to Develop Your Plan Around 180\u003c\/p\u003e \u003cp\u003eStop-Loss Exits Can Save the Day 182\u003c\/p\u003e \u003cp\u003eYour Survival Depends on Having a Healthy Respect for the Risk of Ruin 184\u003c\/p\u003e \u003cp\u003eOptimal f Formula: Information Similar to the Risk of Ruin Tables 186\u003c\/p\u003e \u003cp\u003eComparing Optimal ƒ Equation Results to the Risk of Ruin Tables 187\u003c\/p\u003e \u003cp\u003eThe 2 Percent Risk Amount Formula 188\u003c\/p\u003e \u003cp\u003eUsing the Trade Size Formula 188\u003c\/p\u003e \u003cp\u003eTrade Size Formula Using Leverage 189\u003c\/p\u003e \u003cp\u003eUsing the Trade Size Calculator 190\u003c\/p\u003e \u003cp\u003eGood Record Keeping and Performance Analysis Are Essential 191\u003c\/p\u003e \u003cp\u003eWithout Risk, There Is No Opportunity 192\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 13 The Fourth Slice: Financial Psychology 193\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Trader’s Mind-Set 194\u003c\/p\u003e \u003cp\u003eEven Good Change Can Be Stressful and Emotionally Challenging 195\u003c\/p\u003e \u003cp\u003eLooking at 15 Destructive Psychological Trading Issues and Their Causes 196\u003c\/p\u003e \u003cp\u003eOptical Illusions Show How Our Minds Can Mislead Us 198\u003c\/p\u003e \u003cp\u003eEPILOGUE 201\u003c\/p\u003e \u003cp\u003eAPPENDIX A Online Bonus—Survival Guide Central 203\u003c\/p\u003e \u003cp\u003eAPPENDIX B ART Basics 209\u003c\/p\u003e \u003cp\u003eAPPENDIX C Resources: Front-End Platforms, Brokers, Data Providers, and More 243\u003c\/p\u003e \u003cp\u003eAPPENDIX D Suggested Reading and Education 255\u003c\/p\u003e \u003cp\u003eAPPENDIX E Market Exchanges 273\u003c\/p\u003e \u003cp\u003eGlossary 283\u003c\/p\u003e \u003cp\u003eAbout the Author 307\u003c\/p\u003e \u003cp\u003eIndex 309\u003c\/p\u003e\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Finance \u0026amp; accounting [\u003ca title=\"See our other books on Finance \u0026amp; accounting\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Finance%20\u0026amp;%20accounting%20%5BKF%5D%22\"\u003eKF\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Wiley","offers":[{"title":"Brand New","offer_id":52276258275608,"sku":"9780470436424","price":27.99,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/files\/9780470436424.jpg?v=1781365843","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/survival-guide-for-traders-how-to-set-up-and-organize-your-trading-business-hardback-9780470436424","provider":"Freshly Printed Books","version":"1.0","type":"link"}