Praise for Trade Like a Casino
＂The good news is, you can trade for a living; the bad news—not
everyone can do it. Richard Weissman provides technical and
psychological tools to help you move into the winning group.＂— Dr.
Alexander Elder author, Trading for a Living
＂Discipline, risk, and psychology...to fully understand these
concepts is to fully understand your trading potential. This
indispensable book is a must-read for traders, from the aspiring to
the professional.＂— Douglas Janson
內容簡介：
While trading is a difficult endeavor, it''s still possible to
make money doing so in today''s markets. The real question is: how
can you achieve this goal?
What is required is adapting a successful existing business
model to this speculative arena. The model that makes most sense is
the "casino paradigm" and nobody understands it better than author
Richard Weissman—a professional trader with over fifteen years of
experience consulting and training traders and risk managers.
And now, with Trade Like a Casino, he reveals how successful
traders tend to operate like a casino in that they develop a method
that gives them "positive expectancy" and then unflappably
implement their approach in the face of changing, and oftentimes
volatile, market conditions. Page by page, this reliable resource
explores the intricacies of methodology, mental control, and
flexibility that allow traders to develop and maintain a
casino-like edge. It also addresses some of the more complex issues
that surround this model of successful speculative trading.
Divided into three comprehensive parts, Trade Like a Casino
skillfully:
Introduces the casino paradigm of trading with respect to the
development of positive expectancy models, price risk management,
and trader discipline
Reveals the best-kept secret in trading, the cyclical nature of
volatility, and offers insights on the tools needed to measure
it
Discusses the importance of timeframe analysis and one of the
most important tools associated with it—time frame divergence
Highlights a wide array of positive expectancy trend-following
and mean reversion trading models
Covers common trading pitfalls and how to transcend them as well
as a wide variety of techniques for analyzing and improving trader
performance
Examines the psychological mindset required to succeed with a
positive expectancy model
Successful traders don''t need luck, since they consistently play
the probabilities and manage risk. That''s how casinos win, and with
this book as your guide, that''s how you''ll learn to win in today''s
dynamic markets.
關於作者：
Richard L. Weissman is a trader, trading system developer, and
educator on trading and risk management. As senior associate with
the Energy Management Institute, he holds seminars and webinars for
professionals on trading and risk management. Weissman is a former
member and trader at the New York Futures Exchange. He has written
articles on trading and technical analysis for a variety of
industry publications and provides independent consulting services
to traders and risk managers on technical analysis, derivatives,
and trading system development. Weissman is also the author of the
Wiley title Mechanical Trading Systems.
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