Click on any of the chapter titles below to read and download that portion of Tom Busby’s best-selling book OR click on the play button to listen to the audio book version of that chapter.
- ● Being persistent and studying the game.
- ● Focusing on today and not worrying about yesterday.
- ● The importance of trading education.
- ● Risk management as your first priority and not risking money you cannot afford to lose.
- ● Learning from every trade, analyzing and critiquing yourself continuously, but always trading in the present.
Click the play button below to listen to Chapter 1.
- ● Why patience pays.
- ● Trading during the times of greatest liquidity and volatility.
- ● Using a 24-hour trading clock.
- ● Avoiding overtrading.
- ● Importance and use of the yearly opening price of the markets that you plan to trade.
Click the play button below to listen to Chapter 2.
- ● Using key numbers to get the big picture.
- ● Recording and remembering yearly opening prices.
- ● Using yearly, monthly, and weekly opening prices to form a trend line and determine whether the market has a long-term bias.
- ● Importance of learning and using certain numbers that hold significance in a particular market.
- ● Using key numbers to determine points of entry and exit and to establish profit targets.
Click the play button below to listen to Chapter 3.
- ● Tape reading as an art not a science.
- ● Moving with the unique rhythm of the market.
- ● Reading an index or stock price in the context of the market rather than in isolation.
- ● Trusting indicators over your preconceived notions.
- ● Watching key numbers and time of day when reading the tape.
Click the play button below to listen to Chapter 4.
- ● Importance of preparation.
- ● Taking reasonable profits and avoiding greed.
- ● Taming fear and not letting it take your profits.
- ● Admitting when you’re wrong and exiting the trade.
- ● Avoiding wasting time and energy with regret, not demanding perfection of yourself, analyzing your mistakes, learning from them, and moving on.
Click the play button below to listen to Chapter 5.
- ● Having a proven strategy and knowing how you will approach the market.
- ● Executing your strategy skillfully.
- ● Risk Management, including knowing where you will take profits and place protective stops.
- ● Using a trading method that acknowledges both fear and greed and manages both.
- ● Dynamic nature of markets and adjusting your strategy when necessary.
Click the play button below to listen to Chapter 6.
- ● Considering the risk of a trade first.
- ● Knowing and liking the risk of every trade before taking it.
- ● Determining your personal tilt number and not exceeding it.
- ● Managing every trade to limit risk and control losses.
- ● Making preservation of capital your primary goal.
Click the play button below to listen to Chapter 7.
- ● Preparing for breaking news events using protective stops.
- ● Checking each day, before trading, the releases of scheduled economic reports.
- ● Staying out of the market when scheduled news is breaking and letting the market settle down before risking your money.
- ● Avoiding trying to predict the news or its effect or being lured into a market that is responding to news.
Click the play button below to listen to Chapter 8.
- ● Importance of the S&P Futures Index and using it to help trade other securities.
- ● Importance of recording yearly opening prices of stocks, bonds, and commodities and using this information throughout the year.
- ● Continuously monitoring your mutual fund portfolio and adjusting your holdings quarterly as needed.
- ● Using a 65-day moving average to help you when trading gold futures.
- ● Doing your homework and studying a market before trading it. Knowing how it moves, identifying its key numbers, and locating support and resistance.
Click the play button below to listen to Chapter 9.
- ● Being prepared to trade and taking advantage of the opportunities presented.
- ● Studying the past but trading in the present.
- ● Recording a detailed trading diary each and every day.
- ● Holding yourself accountable for violating your rules or not exercising discipline and patting yourself on the back for following the rules.
- ● Visiting your diary often and reminding yourself of your strengths and limiting your weaknesses.
Click the play button below to listen to Chapter 10.
- ● Using the weekend to get informed about financial events.
- ● Studying charts of the past week’s trading and identifying key numbers that may be reached in the week ahead.
- ● Learning about upcoming scheduled news events.
- ● Visualizing the big picture of the market.
- ● Planning a weekly strategy and getting ready to take calculated aim.
Click the play button below to listen to Chapter 11.
- ● Beginning with time of day.
- ● Integrating key numbers with time.
- ● Accurately reading the tape as essential for successful trading.
- ● Achieving and maintaining emotional balance for good trading.
- ● Establishing strategic objectives and being tactical.
- ● Trading as a business that requires good money management.
- ● Ability of news to destroy the perfect strategy.
- ● Importance of having the right equipment.
- ● Constantly preparing, evaluating, and improving as a trader.
Click the play button below to listen to Chapter 12.
- ● Why it’s better not to be a genius in order to be a good trader.
Click the play button below to listen to Chapter 13.