Mastering the Trade (McGraw-Hill Trader's Edge)
Expert tactics to become make the most of every swing trade
In Mastering the Trade, veteran trader and educator John Carter shares his hard-won five-point technique for successful swing trading. In addition, Carter helps you move to the next level of confidence by explaining how markets really work and detailing behind-the-scenes market mechanics.
Product Details
Editorial Reviews
From the Back Cover
Turn your fascination with trading into a lucrative, full-time career
Mastering the Trade presents you with a step-by-step, innovative approach for becoming a successful professional trader. Full-time trader and fund manager John F. Carter combines an insightful market overview with specific trading strategies and concepts, providing you with chart setups, trading methodologies, vital money management principles, essential psychological guidelines, advice on powerful hardware and software, and more.
This results-driven book sets aside timeworn basics and rehashed ideas to present and examine in detail the underlying reasons that cause prices to move. Its proven program can be used to consistently get in early on market moves, either jumping right back out when you realize you've made a mistake or hanging on for a long and profitable ride.
From valuable hardware and software to market mechanics, pivot points, position sizing, and much, much more, Mastering the Trade covers:
After spending years on various trading desks, John Carter developed an intuitive understanding of how the markets work. In Mastering the Trade, Carter gives you unlimited access to everything you need to know--which trading systems work best in specific markets, techniques for controlling losses, internal strategies for overcoming the danger of emotions--to make an exceptional living on the frontlines of professional trading.
Praise for John Carter's Mastering the Trade:
"Mastering the Trade is an excellent source for a basic understanding of market action, be it day and/or longer term trend trading. A programmer will have a field day with the many ideas that are in this book. It is highly recommended."
--John Hill, president of Futures Truth magazine
"John Carter's new book focuses quickly on the critical area of trader psychology, a realm that will often separate the trader from his wallet if it is not mastered first. The in-depth trading strategies clearly show how to respond to market moves based on real-world examples."
--Price Headley, founder of BigTrends.com and author of Big Trends in Trading
". . . Well written and packed with the kind of insight about the nature of trading and the markets that can surely benefit every level of trader."
--Mark Douglas, author of Trading in the Zone and The Disciplined Trader
"This is a must read for all new traders, specifically for the psychological aspect of trading. I am recommending it to all of my clients."
--Carolyn Boroden, Synchronicity Market Timing, LLC
Thanks to the market-proven advice in Mastering the Trade, you will avoid becoming "fresh meat" to other seasoned traders. John F. Carter, a veteran trader himself, arms you with the knowledge and tools you need to launch your foray into this precarious field and, most important, reap the financial spoils.
About the Author
John F. Carter, CTA, is president of Trade the Markets, Inc., and principal of the money management firm Razor Trading. Carter speaks often at Trader's Expo and other trading industry events, and is a regular contributor to SFO magazine, award-winning website tradethemarkets.com, and Chicago Board of Trade publications.
Customer Reviews
Techniques mentioned in this book are not backtested
As a systematic trader, I don't judge the book by how most people have been reviewing it, I judge by how the ideas mentioned in the book have been proving themselves in real market. It is in this sense that I found the book very shallow, skin-deep. Yes, the author talked about a dozen of trading setups in this book, but none is backtested in a systematic manner. And I have to say, after backtesting, ( it does not take much time as all the setups are simple enough, less than 10 lines of codes) these setups show little edge and consistency.
Trading with a plan
Glad I bought this book, even though a couple of reviewers suggested that you need to buy John Carter's indicators or you might as well not bother with the book (that was the impression I got anyways). They would make life easier, but you dont need to buy them, he tells you what he is using to set his charts up. There are lots of nuggets of wisdom throughout the book. It isnt the end-all of investment books, but should definitely be one that you have read (more than once) and keep handy to reference back to. Wish I would have read it when it first came out!
Good book, but not great
I can't say I haven't gotten anything out of the book (using mid pivot points, and switching to YM from NQ) However, there are chapters that rely on indicators that you have to find on your own, or buy them from Carter. I would definitely recommend the chapters on pivots, market internals and gaps (although gaps are still a hairy subject that is not covered very well in most books) As far as psychology goes, Carter does a decent job, but The Disciplined Trader: Developing Winning Attitudes is the holy grail as far as trader psychology goes. If you trade futures actively, it won't hurt to pick up Carter's book.
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