Way of the Trader
offers a fresh perspective on a mysterious art – trading the financial markets. Over 15 compelling chapters, Ian Murphy unpacks the world of a private trader, providing a wealth of practical tools for those wishing to make a living from the markets.
In Part A,
he examines the job of a trader and their relationship with the market – and how to survive where so many others have failed.
In Part B
he reveals the habits of serious professionals. These include essential procedures such as the Eight Checks
and the Nine Filters
which should be employed by all traders before a single penny is placed in the market. Most important of all, Ian explains how the Five Limits of Risk
allow us to embrace the dangers at the heart of trading, so we can face the market with confidence and clarity.
In the Six Edges
chapter, psychology – the key to trading success – is closely examined and we see how the concept of a trading ‘edge’ is overrated and misunderstood. We also learn how Buddhist techniques for working with the mind can be profitably employed in the market.
In Part C
, the author shares three consistently profitable trading strategies which expose opportunities inherent in the market and demonstrates how to leverage those opportunities. These strategies are explained in great detail with the aid of marked-up charts and back-tested results.