The Elements of Successful Trading: Developing Your Comprehensive Strategy Through Psychology, Money Management, and Trading Methods – Robert P. Rotella

Book Overview

The Elements of Successful Trading by Robert P. Rotella highlights that a successful trader must have a clearly defined strategy that encompasses trading methodology, money management, and psychology amidst the growing pressure to perform at a high level of efficiency.

This comprehensive resource helps you develop a personal trading strategy that combines market analysis, money management skills, and psychology to obtain success for yourself and your clients in any type of market – futures, stocks, bonds, foreign exchange, and others.

This book is based on the author’s popular classes at New York University and the New York Institute of Finance, and on his experience in trading in diverse markets for over 10 years. This Guide covers every aspect of the trading process: fundamental and technical analysis, determining entry and exit points when trading, analyzing risk and reward in trading, understanding the psychology of trading, etc.

Plus, the guide contains over 200 graphs depicting everything from technical studies, inverted markets, options analysis, and risk and return.

For novice and seasoned traders alike, The Elements of Successful Trading provides an understanding and thorough approach to developing and implementing a practical and successful trading strategy for use in any market.

Book Outline

• How does the risk of buying and selling options compare to outright purchase or sale of the underlying security or future?
• What are some major weaknesses of the efficient market hypothesis?
• How do political and economic situations affect trading risk?
• What are the advantages and disadvantages of technical analysis?
• How do you develop a proper mindset for trading?
• What are the best ways to determine market volatility?
• Why are some people successful in trading while others are not?
• And much more!

What Will You Learn?

• Best practices of techniques and strategies for technical analysis.
• Practical systems and coherent guidelines.
• The mindset of successful traders.
• Effective risk management.

Who Is This Book For?

The book is for every trader at every level.