The Outer Game of Trading: Modeling the Trading Strategies of Today's Market Wizards
- ISBN-13: 9781557385987
As the authors describe, a winning system is far more than charts and technical indicators. It must give you specific entry and exit points, as well as a method for managing your capital. But most importantly, it must reinforce your own sense of discipline so that you pull the trigger at the right time and take your profits and losses without question. Any system that doesn't meet these criteria is doomed to fail.Of course, not every system works for every trader. But by understanding what top traders do, you'll be able to identify an approach that works for you. Indeed, by drawing on selected techniques from a number of top traders, you may be able to create a system which works far better than any one individual system described in the book.Featuring interviews with top traders, The Outer Game of Trading is full of fascinating stories on the ups and downs of the trading life. You'll learn how one trader shorted the yen after an unusual experience with a rental car on vacation. You'll learn about another trader who trades spreads with such intensity that he has no idea where the market is going. And you'll find out about a trader who scalps the market so quickly that his clerk often can't keep track of the trades. Amazingly, all three of these traders are big winners.More so than anyone else writing on trading, Koppel and Abell have a gift for getting inside the minds of top traders and providing penetrating insights into how they achieved their success. For aspiring traders, the lessons are invaluable. By understanding and modeling the approaches of the world's best traders, you can travel the road to successful trading with knowledge and confidence.
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