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Samuels Jody. The Trader's Pendulum
Foreword
Acknowledgements
About the Author
Prologue: A Day in the Life of a Successful Trader
A Trader's Work Begins before He Starts to Trade
The End of Trading Isn't the End of His Day
What Can We Learn from This Successful Trader?
Part I. Introduction. Introduction: Riding the Trader's Pendulum
Chapter 1. The Successful Trader versus the Average Trader
The Conversation that Changed Fred's Life
When Reality Kicked in: Paper Trading versus “Real” Trading
The Path Forward
The Struggle of a Young Family
A Perfect Plan Found?
A Typical Afternoon of a Trader
Trader by Chance
Trader by Plan
Dedicated Trader… or Slacker?
The Life of a Trading Mom
The Question You Need to Ask
Chapter 2. The Technical Trader's Trap
Revisiting the Cases of Fred and Stacey
“Technical Junkie” versus Entrepreneurial Trader
The Hobbyist and the Business Owner
Are You in the Technical Trader's Trap?
How to Get Yourself out of the Technical Trader's Trap
Eating an Elephant a Bite at a Time
Chapter 3. Becoming an Entrepreneurial Trader – The Process
Steps to Transform from a “Technical Junkie” into an Entrepreneurial Trader
The Trader's Quadrants: Where Are You Now, and Where Do You Want to Be?
Trading Habit Cultivation
What Kind of Trader Do You Want to Become?
Pendulum Scenario 3.1: Fear versus Greed
Part II. Out of Hobby into Business Mode
Chapter 4. Habit #1: Establish a Trading Business for the Right Reasons
The Negative Motivator
Reasons for His Fight
What Excites Successful Traders (It's Not All about the Money)
The Main Reasons Why Traders Are Traders
What Are the Reasons You're Trading?
Pendulum Scenario 4.1: Get Rich Quick or Go Broke Quick
Pendulum Scenario 4.2: Realistic versus Unrealistic Trader
Chapter 5. Habit #2: Complete a Trader's Business Plan
“Why Do I Need a Business Plan?”
“But What if I Don't Have a Trader's Business Plan?”
“What Should My Business Plan Cover?”
“How Do I Set up My Trader's Business Plan?”
Nine Steps in the Business Planning Process
An Important Research Discovery That Can Help You Achieve Your Goals
Pendulum Scenario 5.1: Clarity versus Muddled Thinking
Pendulum Scenario 5.2: Forgiving versus Angry Trader
Pendulum Scenario 5.3: Courage versus Conformity
Chapter 6. Habit #3: Define Your Goals
“How Did We Do That?”
Tackling the Subjects in Your Trading Life
Do You Plan to Trade Part-time or Full-time?
What Time of Day Will You Set Aside for Trading?
What Specific Goals Do You Have for Daily, Weekly, and Monthly Profits?
What Trading Strategy Will You Employ, and What Are the Rules?
Right and Wrong Goal Setting
Working out the Numbers
Checklist: How Your Profit Goals Give You a Framework for Trading
The “Grading System” in Your Trading Journey
Pendulum Scenario 6.1: Taking Action versus Feeling Remorse
Pendulum Scenario 6.2: Enthusiastic versus Apathetic Trader
Part III. Becoming an Entrepreneurial Trader
Chapter 7. Habit #4: Commit to Your Education with a Trading Coach
What Can a Trading Coach Do for You?
How Do You Find a Trading Coach?
Engaging a Coach Is an Investment, Not an Expense
Pendulum Scenario 7.1: Foresight versus Hindsight
Pendulum Scenario 7.2: The Lucky versus Unlucky Trader
Pendulum Scenario 7.3: Calm versus Nervous Trader
Chapter 8. Habit #5: Understand and Exploit Your Unique Trading Personality
What about a One-Size-Fits-All Trading Style for Traders?
Different Trading Styles
How Do You Choose Your Trading Style?
When Should You Get Help?
Reducing the Dropout Rates of School Kids and Traders
Pendulum Scenario 8.1: Self-Doubting versus Overconfidence
Pendulum Scenario 8.2: Cautious versus Reckless Trading
Chapter 9. Habit #6: Follow a System
What Can You Learn from These Big Corporations?
What Is the Difference between a Trading System, a Trading Strategy, and a Trade Plan?
How to Set up Your Trading System
Words of Caution for Traders in the Technical Trader's Trap
Pendulum Scenario 9.1: Optimistic versus Pessimistic Trader
Pendulum Scenario 9.2: Flexible versus Stubborn Trader
Pendulum Scenario 9.3: Accepting versus Willful
Chapter 10. Habit #7: Plan the Trade and Trade the Plan
The Clichéd Wisdom
Before You Construct Your Trade Plan
How to Construct a Trade Plan
About Losing Money
Constructing a Trade Plan Based on a Trading System and Money Management Strategy
Pendulum Scenario 10.1: Pragmatic versus Idealistic Trader
Pendulum Scenario 10.2: Pulling the Trigger versus Having Regrets
Pendulum Scenario 10.3: Conservative versus Impulsive Trader
Part IV. The Transformed Trader
Chapter 11. Habit #8: Measure Your Performance
The Trading Journal
The Daily Trading Blotter
Profit and Loss (P&L) Statement
Setting Realistic Expectations
Some Important Performance Metrics
Pendulum Scenario 11.1: Organized versus Disorganized Trader
Pendulum Scenario 11.2: Proactive versus Reactive Trader
Chapter 12. Habit #9: Learn the Secrets of Successful Traders
Learning by Modeling Success
A Day in the Life of a Successful Trader
Winning Qualities of Successful Traders
Where Do You Find Successful Traders to Model?
Learning the Success Secrets by Reading
Pendulum Scenario 12.1: I Can versus I Can't
Pendulum Scenario 12.2: Patient versus Impatient Trader
The Wisdom of Taking No Action
Going from Patience to Impatience, Well-to-Do to Broke
How to Temper Impatience
Chapter 13. Habit #10: Add Balance to Your Life
Symptoms of Trader Burnout
Getting out of the Trap
How to Achieve Balance in Trading Life and Maintain Motivation
Your Life Plan
Outline for Developing Your “Life Plan”
Pendulum Scenario 13.1: Relaxed versus Stressed Trader
Pendulum Scenario 13.2: Clear-headed versus Sorrowful Trader
Pendulum Scenario 13.3: Good Mood versus Bad Mood Trading
Chapter 14. The “10 Habits” Checklist
21 Days to Form a Habit?
The “10 Habits” of Successful Traders
“Where Are You Now, and Where Do You Aim to Be?”
The Path of Transformation
More than Theory
How the Magic Number Came About
Why It Does Not Matter
Part V. The Trader's Tools
Chapter 15. Analysis Toolbox – Your First Mentoring Session
Trends and Market Cycles
Trend Indicators
Trend Lines and Channels
End-of-Trend Market Reversals
End-of-Trend Confirmations
Support and Resistance
Market Cycles and Elliott Wave Analysis
Trend Wave Characteristics
Corrective Wave Characteristics
Chapter 16. Sample Trading System – Your BONUS Mentoring Session
Fibonacci Filter Trading System Overview
A. Chart Setup
B. Trading Strategies
C. Trading Rules
D. Trade Plan
E. Daily and Weekly Preparation
F. Checklist
Resources
The FX Trader's EDGE Scorecard and Your FREE Coaching Session
What's Covered in the Free Coaching Session?
FX Trader's EDGE Coaching Process
Other Valuable Resources
Bibliography
About the Companion Website
Bonus Videos
