Читать книгу The Way to Trade - John Piper - Страница 6

I have been trading futures and options markets for over a decade. I now manage money and make good consistent profits. So what I have to say about markets has been forged in the fire of market action itself. I have suffered the highs and the lows which all traders experience on the road to success.

This book is unique in that it takes the reader right through the trading process and it also uses a model, the trading pyramid, which explains the process and the inter-relation between the component parts.

The key component for successful trading is the underlying philosophy of trading and this is what so many books and seminars ignore. There is so much written and spoken about analysis but that is such a small part of the game. Good trading is not a question of doing, it is a question of being. This book is dedicated to those who want to become good traders. Analysis and trading technique are useless to those who have not gone through this process.

Having dealt with the underlying philosophy, we then move onto specific trading techniques and the underlying analysis which builds those techniques. I do not believe that analysis is used correctly by the vast majority of those who risk capital in worldwide markets. Analysis is not for use on markets, it is solely to devise your methodology/ approach to the market. You must devise this methodology and then use it. Thus you become an expert in its application and then the money flows your way.

But you must have your own methodology; it is no good being spoon fed something by the currently “hot” guru. This is very unlikely to suit your trading personality. This book tells you how to develop your own methodology and explains the feedback process within the pyramid that will make it work for you.

Most people lose in the markets for one simple reason – they trade emotionally. When traders understand the problem they improve by becoming mechanical. This is a big improvement but it is still not enough. To be truly successful you have to become intuitive, and this simply means you become an expert in what you do – something you achieve through experience. It is this path I chart in this book. I think you will enjoy it.

Don’t accept anything in this book at face value. It is an essential part of a trader’s development to carefully consider all aspects of the market and his individual approach to it. Some of the statements made in this book are deliberately provocative and designed to ferment that process. So don’t accept anything, think about it, draw your own conclusions, and thus create your own useful beliefs about markets and your methodology. The key word is ‘useful’; your beliefs and techniques must prove their usefulness in producing lots of lovely profits.

Finally I must say that there are various lessons in trading which become particularly relevant at particular times during our progress towards success. For this reason you may find that parts of this book do not seem relevant to you the first time you read it. But they may well do so on a subsequent reading. This is a book which may repay frequent readings!

John Piper, December 1998