One Good Trade - Inside the Highly Competitive World of Proprietary Trading (John Wiley & Sons Inc)

An inside look at what it really takes to become a better trader§A proprietary trading firm consists of a group of professionals who trade the capital of the firm. Their income is generated solely from trading the markets. The world of prop trading is mentally and emotionally exhausting, but the rewards can be substantial, if you understand how to identify good trades, take profits at the right time, and limit losses.§In The Way of the Day Trader, author Mike Bellafiore describes the principles and techniques that have enabled him to trade this way for over ten years and explains how he has imparted those techniques to traders at the proprietary trading firm he co-founded. In doing so, he lifts the veil on the inner workings of his firm, shedding light on the challenges of prop trading and why traders succeed or fail.§Emphasize the development of skills that are critical to success, such as risk control, consistency, and emotional control§Outlines straightforward trading strategies, including breakouts from congestion, trading off support and resistance, and identifying consolidation set-ups§Tells the stories of the traders the author has mentored and how his prop trading firm operates§Becoming a better trader takes discipline, consistency, and a simple set of strategies, and this book will show you how to develop all three.