The Trader's Pendulum - 9781118995570

The purpose of this book is to help new as well as experienced traders design and implement a successful trading strategy and philosophy through psychological education. Armed with a tried and true trading business roadmap, the reader will learn how to successfully design a "trading paradigm." The Ten Habits of Successful Traders illustrates real-life emotional-psychological scenarios that the chaos of the markets can throw at traders. Indeed, most human beings are averse to change and risk, but becoming a successful trader is all about learning how to embrace change and risk and how to use it to our benefit.

Two of the habits include Following a System and Planning a Trade. The author uses her Elliott Wave and Harmonics expertise to bring a top down approach to the market to help traders minimize their poor choices. She even includes a sample Trading System for traders to adapt.

This book is specifically about two traders, Frustrated Fred and Successful Stacey. Frustrated Fred rides the Trader's Pendulum between fear and greed as a technical junkie who has fallen into the typical trader's trap. Successful Stacey used to be a technical junkie but has transformed herself into a successful entrepreneurial trader. The book is based on cultivating 10 Habits that, if followed, save traders time and effort, help them make more money, and encourage them to achieve their full potential as traders. The transformation to a successful entrepreneurial trader is about developing good habits and treating trading like a business.