Summary

New Trader open his trading account with $10,000 convinced that in a few months may double his account and become a millionaire in a few years.

His mentor, Rich Trader, explains that he should focus on trading, not profits.

Through a series of meetings, conversations and experience that goes acquiring, New Trader learn the essentials of trading to become a trend trader.

Structure

The book is structured in three parts:

•Psychology, addresses issues such as greed, stress, patience, fear, and the need to never stop learning about markets.

•Risk, covers topics such as the trading size, risk management, stop loss and trailing stops.

•Methodology, covers topics such as perseverance, put the odds in your favor, react to market movements instead of trying to predict, follow the method rather than the emotions, have an exit plan and let profits run.

At the end of each lesson includes the recommendation of a book to expand knowledge on the subject of the lesson.


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