Trading Without Gambling

Trading Without Gambling will show how to become a better trader by making and following a game plan. A game plan is both a way of looking at the market and a way to plan and time every trade. The author asserts that trading decisions should be made while the market is closed and should include precise entry and exit strategies. He will show traders exactly what they need to do at the close of each days trading and prior to the next days opening. He advocates that traders should create scenarios for how the market might move and how they will respond to those moves.  Within those scenarios, the book will show traders how to identify high probability trades and where they should set their entry and exit stops. The author discusses the importance of money management, using stops, trading rules, and constantly reviewing and managing positions.  In short, the book provides a very practical, easy-to-understand blueprint to becoming a successful trader.