The Trend Following Bible: How Professional Traders Compound Wealth and Manage Risk (Anglais) Relié – 25 janvier 2013
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Description du produit
Présentation de l'éditeur
Profiting from long–term trends is the most common path to success for traders. The challenge is recognizing the emergence of a trend and determining where to enter and exit the market. The Trend Following Bible shows individual traders and investors how to profit from this approach by trading like today′s top commodity trading advisors.
In this book, author Andrew Abraham stresses the importance of a disciplined, consistent methodology, with stringent risk controls, that allows you to catch big trends, while limiting losses on unprofitable trades. By trading in this manner, he shows you how to successfully achieve market–beating returns over the long term and multiple your trading capital along the way.
- Reveals exactly how top commodity trading advisors operate and how individuals can incorporate these methods into their everyday trading endeavors
- Addresses key issues like position sizing and risk control, which are critical to trading success, but often underemphasized in other trading literature
- Highlights how to effectively execute the trading strategies outlined
Engaging and accessible, The Trend Following Bible will put you in a better position to profit as you make more informed trading decisions.
Quatrième de couverture
Praise for The Trend Following Bible
"I like Andy′s statement that trading has to fit one′s personality. Everyone is different. I′ve met quite a few successful traders over the twenty years I′ve been trading professionally. Ironically not one person uses the same system. What Andy does capture are the true building blocks of building a successful trading system."
Ken Kinkopf, President, Kinkopf Capital Management, LLC
"I have been registered in the futures industry since 1987, and the information on trend following provided by Andrew Abraham is some of the most comprehensive and easy to follow that I have seen. Andrew provides pure information with no hidden agendas. He does not hide the risk nor simplify the work a trader needs to do. Discipline and patience, two of the most key elements in money management, are stressed. I would highly recommend that anyone serious about trading should read this book."
Chuck Bohm, Pioneer Futures Inc.
"Where I feel that Andy′s insight is so valuable is that he is an active practitioner. He gives us views, and posts articles, that highlight the discipline and self–belief needed to be successful in this arena. Trend following sounds so simple; looking at a chart is easy to say, in hindsight, that we would have bought there and sold here. Now tell me where we are going tomorrow. Andy′s blog shows us that trend following is about percentages. Increasing your chances of calling the future direction of a market correctly over time, and having an exit plan in place before one takes a position. I encourage anyone with exposure to the markets, regardless of experience, to read this!"
Benjamin Smith, ADM Investor Services International
"The best investors are not afraid to share their trading plan with others as they know that there is no secret recipe in all this, that risk management and discipline are really 95% of the battle. Clearly Andy is not afraid of providing his."
Gerald Rehn, Principal, Rehn Capital Management, LLC
"Andy gives a structured, simple, and concise way to understand trend following and, most importantly, the discipline and patience this strategy needs in order to work. I really enjoyed his personal views and risk management tools that have kept him in trading for many years."
Eduardo Frid, EF Financial Services
"Right on Andy!"
Todd Miller, Availeth Capital, LLC
"Andy′s explanation of trend following is extremely informative and should be very useful for any individuals who hope to begin trading in a trend following strategy. One of my favorite aspects of his book is that he is relaying the message that trend following and trading are, indeed, work. So many individuals have the wrong impression entirely as to what it is that a trader or trend follower does with his or her time. As with any other career path, trading takes time, research, and extraordinary effort in order to be successful. I would highly recommend that any individual interested in trend following read Andy′s blog as well. The information is accurate and effective."
John David McDonnell, RCO Financial, Inc.
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Commentaires client les plus utiles sur Amazon.com
You will find a some really good trading gems in this book, and some well-deserved discussions regarding how hard it is to trade and make money year in and year out. I wish more trading books placed such emphasis on the "realities" of trading. As Andrew points out, if you're new to the markets and expect to make 50% to 100% per year using someone else's "trading robot", you are deluding yourself. Trading is a tough and ugly business, by far the hardest "easy money" you will ever make. The chapter on "The Trend Follower Mindset" was especially good - anyone who wants to trade systematically should read this chapter and take it to heart. In fact, you should probably read that chapter twice.
My sole disappointment with this book is just how poorly it is edited. I don't know if the responsibility for this rests on the writer, or the publisher (or more likely, a combination of both), but at points it feels like the author is rambling, almost to the point of incoherence.
Let me give you one example: in Chapters 7 and 8 ("trend breakouts" and "trend retracements"), the author spells out pretty clearly his methodology for trend trading the markets. He lays out his rules and he provides examples for how he trades. However, in Chapter 9 ("The trend following mindset"), on page 138, he writes: "My goal is to enlighten you and teach you what it took decades to learn. You will learn to have an exact plan with exact entries, exact exits with both profits and losses and exact quantities to buy and sell."
But wait, isn't that what you just did in chapters 7 and 8? Why are you writing that you "will" do something when you just did it?
Unfortunately, it feels almost as if this book was cobbled together from a series of independent blog posts or other coaching materials but no effort or thought was put into how the material all flows together. Instead the author seems to bounce around from subject to subject like a manic pinball. As others have noted, certain ideas are repeated over and over again, and at other points, the logic and flow of the text falls apart.
Like I said before, there are good trading ideas in this book but you have to wade through a lot of poorly-edited text to get to them. It's a shame, because it's uncommon for a veteran trader to be willing to share their experience so readily with the public and I think everyone (especially new traders) can benefit from that.
Trend Following Bible is about 200 pages worth of information with what sort of mindset/psychological makeup you should have as a trader, proving the successes of others over long periods of time with compounding returns, his trading method, and guides you along your path. From my experience reading there is no book out there that is a "holy grail" that just by simply reading will show you how to "win" at trading, but this one comes pretty close.
If you are not wanting to put in any time in doing your own research and using your knowledge learned to develop your own rules and stick with them then this book is not for you. This book is guidance for people that are serious about trading and will help your learning curve. If you are looking for trading tips to get rich fast then you would be better off to not start trading at all.
I highly recommend this book to any person that is serious about trading and wants to compound wealth over a course of years using any time frame of trades whether its day trading or long term trend following, this book can help you along your path. I would recommend going to a compound interest calculator and put in compounding at about 15% with whatever capital you have available to invest and put in per month and see how long it takes you to make your first 2 million. The first 2 million is always the hardest, but this book can help you get there!
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