{"product_id":"trade-like-a-pro-isbn-9780470287354","title":"Trade Like a Pro","description":"\u003cp\u003ePraise for Trade Like a Pro\u003c\/p\u003e \u003cp\u003e\"Noble's commitment to the individual trader is exactly what traders need during these volatile times. He has knowledge that spans across markets and is worldwide. He is a valued contributor to the TraderPlanet.com community, and this book further demonstrates his dedication to educating traders and helping them become more successful.\"\u003cbr\u003e —Lane J. Mendelsohn, Publisher, TraderPlanet.com\u003c\/p\u003e \u003cp\u003e\"In a time when, on a global level, important things are happening to the financial industry, when new profit opportunities as well as risks are revealed, the book Trade Like a Pro offers a complete picture concerning the risk administration techniques.\"\u003cbr\u003e —Teodor Ancuta, President and General Manager, Sibiu Stock Exchange\u003c\/p\u003e \u003cp\u003e\"Trade Like a Pro is a comprehensive presentation of all the basic trading strategies that belongs in every investor's library. Whether your specialty is futures, options, or stocks—or, for that matter, a combination of all three—you will find yourself going back to this valuable reference guide again and again. Everything rings true. Moreover, the author gives you the pros and cons of each respective strategy without imposing his own point of view. Well researched and presented.\"\u003cbr\u003e —George Angell, author of Small Stocks for Big Profits and Winning in the Futures Market\u003c\/p\u003e \u003cp\u003e\"Armed with good intentions, most new traders are unaware of the realities involved. Although there is often the belief among novice traders that profitability will be easy, the evidence strongly suggests otherwise. In his new book, Trade Like a Pro: 15 High-Profit Trading Strategies, Noble DraKoln offers a thoughtful approach to making the transition from unsuccessful retail trader to the arena of the professional, which is imperative for lasting success as a trader.\"\u003cbr\u003e —Ron Rossway, President, Denver Trading Group\u003c\/p\u003e \u003cp\u003ePreface xi\u003c\/p\u003e \u003cp\u003eAcknowledgments xiii\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart I Designing the Trade 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 From Retail Trader to Professional Trader 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTransitioning from Retail Trader to Professional Trader 5\u003c\/p\u003e \u003cp\u003eSuccessful Professional Traders 16\u003c\/p\u003e \u003cp\u003eTightening Up Your Approach to the Markets 22\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 Markets and Margin 25\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eExchanges 27\u003c\/p\u003e \u003cp\u003eWhat Does This Mean for the Market? 34\u003c\/p\u003e \u003cp\u003eDaisy Chain Effect 37\u003c\/p\u003e \u003cp\u003eGlobal Markets 42\u003c\/p\u003e \u003cp\u003eBecoming a Sophisticated Trader 45\u003c\/p\u003e \u003cp\u003eWhat Do These Changes Mean for Your Trading? 46\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Some Essentials of Trading 47\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThree Different Types of Traders 48\u003c\/p\u003e \u003cp\u003eA Trader’s Focus 52\u003c\/p\u003e \u003cp\u003eEssential Trading Concepts 56\u003c\/p\u003e \u003cp\u003eUsing This Book to Its Fullest Potential 63\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart II Basic Strategies 65\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Holding the Bull and the Bear by the Tails 67\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eStraddle, Strangle, and Execution 68\u003c\/p\u003e \u003cp\u003eGetting the Right Options for the Job 75\u003c\/p\u003e \u003cp\u003eOption Tutorial 78\u003c\/p\u003e \u003cp\u003eSample Straddle and Strangle Write-Up Sheets 89\u003c\/p\u003e \u003cp\u003eConclusion 89\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 Precision Trading at Its Finest 91\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat Is Hedge Trading? 91\u003c\/p\u003e \u003cp\u003ePrecision Trading Ground Rules 92\u003c\/p\u003e \u003cp\u003eIdentifying Market Trends 96\u003c\/p\u003e \u003cp\u003eConclusion 101\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Trading with Hard Stops 103\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eStop Loss Order 104\u003c\/p\u003e \u003cp\u003eOptions as an Alternative to the Stop 106\u003c\/p\u003e \u003cp\u003eConclusion 110\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 The Markets on a Leash 113\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCollar 114\u003c\/p\u003e \u003cp\u003eGeneral Collar Pitfalls 122\u003c\/p\u003e \u003cp\u003eDay Traders 123\u003c\/p\u003e \u003cp\u003eConclusion 126\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Replacing Traditional Options with Synthetic Options 127\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSynthetic Option versus Standard Option 128\u003c\/p\u003e \u003cp\u003eWhen to Use a Synthetic Option 133\u003c\/p\u003e \u003cp\u003eConclusion 141\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Everything in Its Season 143\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSpread Opportunities 144\u003c\/p\u003e \u003cp\u003eConclusion 151\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Gunning for Premiums with Covered Options 153\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eProblems with Selling Options 154\u003c\/p\u003e \u003cp\u003eCovered Option Trading 156\u003c\/p\u003e \u003cp\u003eConclusion 167\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11 Outflanking the Market 169\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFrontspreads and Backspreads 170\u003c\/p\u003e \u003cp\u003eTrading Backspreads 172\u003c\/p\u003e \u003cp\u003eConclusion 179\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart III Advanced Strategies 181\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12 Exposing Yourself to Loss 183\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSynthetic Futures, Long-Short 183\u003c\/p\u003e \u003cp\u003ePrimary Drawbacks 188\u003c\/p\u003e \u003cp\u003eIntercommodity Spread 188\u003c\/p\u003e \u003cp\u003ePrimary Drawbacks 193\u003c\/p\u003e \u003cp\u003eThe Bull Call Spread and Bear Put Spread 193\u003c\/p\u003e \u003cp\u003ePrimary Drawbacks 195\u003c\/p\u003e \u003cp\u003eConclusion 196\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13 Advanced Option Selling Strategies 197\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDo 90 Percent of Options Expire Worthless? 198\u003c\/p\u003e \u003cp\u003eWhat to Expect When Selling Options 200\u003c\/p\u003e \u003cp\u003eStrangles, Straddles, or Naked Options 202\u003c\/p\u003e \u003cp\u003eSell Straddle 203\u003c\/p\u003e \u003cp\u003eSell Strangle 207\u003c\/p\u003e \u003cp\u003eNaked Option Selling 212\u003c\/p\u003e \u003cp\u003eConclusion 215\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 14 Retreat, Recovery, Opportunity 217\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eManipulating the Strategies 219\u003c\/p\u003e \u003cp\u003eConclusion 242\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 15 Analyzing Charts and Strategies 243\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eS\u0026amp;p 500 244\u003c\/p\u003e \u003cp\u003eEuro 246\u003c\/p\u003e \u003cp\u003eGold 249\u003c\/p\u003e \u003cp\u003eCorn 251\u003c\/p\u003e \u003cp\u003eOil 253\u003c\/p\u003e \u003cp\u003eConclusion 255\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 16 Applying These Strategies with Stocks 257\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eStocks 258\u003c\/p\u003e \u003cp\u003eStrategies 261\u003c\/p\u003e \u003cp\u003eConclusion 266\u003c\/p\u003e \u003cp\u003eAbout the Author 267\u003c\/p\u003e \u003cp\u003eIndex 269\u003c\/p\u003e Named a top investment book of the year by the Stock Trader’s Almanac 2010. \u003cp\u003eNoble DraKoln is founder of SpeculatorAcademy.com, a futures and Forex educational company, where he focuses on the development, management, and promotion of the company's core philosophy of \"focusing on the trader not the trading.\" Prior to this role, DraKoln served as the president of Liverpool Derivatives Group, Inc., a futures and Forex brokerage, for eight years and as a professional sugar trader. He speaks regularly at industry conferences in the United States and Europe and has written articles for numerous financial publications. DraKoln is also an NFA Arbitrator, as well as the author of the Wiley title Winning the Trading Game.\u003c\/p\u003e   \u003cp\u003eFinancial markets have changed dramatically over the last few years, but there are still opportunities available within them. And while there are no shortcuts to trading success, you can improve your chances if you learn how to Trade Like a Pro. Nobody understands this better than author Noble DraKoln, and with this timely guide, he'll help you look at trading through the eyes of a professional and show you how to carve out your own path in the markets with a set of strategies that will allow you to grow and preserve capital.\u003c\/p\u003e \u003cp\u003eWritten with the serious trader in mind, this book skillfully shows you how to: construct trades that carefully incorporate spot, futures, and options together; diminish your risk profile and maximize profit potential; determine the risk\/reward of staying in a trade; and much more.\u003c\/p\u003e \u003cp\u003eDivided into three comprehensive parts, this reliable resource opens with a detailed discussion of what it takes to transition from the mindset of a retail trader to that of a professional trader. You'll gain valuable insights into the motivation, financial savvy, and psychological differences between professional and retail traders, and become well equipped to deal with today's dynamic markets. After this informative introduction, Parts Two and Three of Trade Like a Pro outline fifteen different high-profit, low-risk trading strategies. Nine basic strategies, which were initially introduced in DraKoln's previous book, Winning the Trading Game, are now analyzed in more depth, and six advanced risk management strategies—meant to build upon the knowledge that you gain here—are also covered.\u003c\/p\u003e \u003cp\u003eIncluded among the strategies are:\u003c\/p\u003e \u003cul\u003e \u003cli\u003e \u003cp\u003eUsing options as a stop or as a risk management tool\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eCreating synthetic options to minimize transaction costs\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eUsing straddles and strangles to trade news events\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eUsing collars to create limited loss\/defined profit scenarios\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eUsing spreads to take advantage of seasonal tendencies\u003c\/p\u003e \u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eAlong the way, you'll also learn how to combine certain strategies to improve your odds of success.\u003c\/p\u003e \u003cp\u003eTrading is a difficult endeavor and requires a set plan built around proven strategies, discipline, and intelligent decisions. With Trade Like a Pro as your guide, you'll quickly discover how to create a plan that will allow you to manage risk and capture profits in almost any market.\u003c\/p\u003e  \u003cp\u003ePraise for Trade Like a Pro\u003c\/p\u003e \u003cp\u003e\"Noble's commitment to the individual trader is exactly what traders need during these volatile times. He has knowledge that spans across markets and is worldwide. He is a valued contributor to the TraderPlanet.com community, and this book further demonstrates his dedication to educating traders and helping them become more successful.\"\u003cbr\u003e —Lane J. Mendelsohn, Publisher, TraderPlanet.com\u003c\/p\u003e \u003cp\u003e\"In a time when, on a global level, important things are happening to the financial industry, when new profit opportunities as well as risks are revealed, the book Trade Like a Pro offers a complete picture concerning the risk administration techniques.\"\u003cbr\u003e —Teodor Ancuta, President and General Manager, Sibiu Stock Exchange\u003c\/p\u003e \u003cp\u003e\"Trade Like a Pro is a comprehensive presentation of all the basic trading strategies that belongs in every investor's library. Whether your specialty is futures, options, or stocks—or, for that matter, a combination of all three—you will find yourself going back to this valuable reference guide again and again. Everything rings true. Moreover, the author gives you the pros and cons of each respective strategy without imposing his own point of view. Well researched and presented.\"\u003cbr\u003e —George Angell, author of Small Stocks for Big Profits and Winning in the Futures Market\u003c\/p\u003e \u003cp\u003e\"Armed with good intentions, most new traders are unaware of the realities involved. Although there is often the belief among novice traders that profitability will be easy, the evidence strongly suggests otherwise. In his new book, Trade Like a Pro: 15 High-Profit Trading Strategies, Noble DraKoln offers a thoughtful approach to making the transition from unsuccessful retail trader to the arena of the professional, which is imperative for lasting success as a trader.\"\u003cbr\u003e —Ron Rossway, President, Denver Trading Group\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47990401007845,"sku":"NP9780470287354","price":70.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470287354.jpg?v=1761787679","url":"https:\/\/k12savings.com\/es\/products\/trade-like-a-pro-isbn-9780470287354","provider":"K12savings","version":"1.0","type":"link"}