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2007-11-24

The Market Is Always Right (Hardcover)
by Thomas McCafferty (Author)

The Market Is Always Right

  • Hardcover: 224 pages
  • Publisher: McGraw-Hill; 1 edition (November 6, 2002)
  • Language: English
  • Book Description

    Rules for successful trading, direct from the traders who practice them every day

    Even with today's high-speed computers, online accounts, and information access, traders still live or die based on their abilities to control fear, greed, and emotion. The Market Is Always Right gives traders battle-proven advice for avoiding common trading setbacks by understanding human nature­­both their own and others'­­and directing it toward profitable outcomes.

    Distilling the wisdom of hundreds of traders, this proactive book starts with 10 overriding rules­­for example, "Evaluate your performance"­­and then lists the subrules within each, such as "Qualify and quantify your trading pattern." Other examples include:

    • Never chase trades
    • Watch the open­­don't trade it
    • When in doubt, get out
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  • Contents
    Acknowledgments ix
    Introduction: The Wisdom of the Ages xi
    1 The Market Is Always Right 1
    2 It's All in Your Head 15
    3 You Can’t Prepare Enough 27
    4 Supply and Demand Rule the Markets 49
    5 Commit Your Thoughts to Paper 61
    6 Developing and Perfecting Your Trading Shtick81
    7 Enhancing Your Shtick103
    8 Dealing with One of the Toughest Parts of the Game:Discipline 123
    9 Staying the Course 143
    10 On Becoming the Ideal Trader 163
    Appendix A: Types of Orders 185
    Appendix B: Know the Market Makers on Level 2 189
    Appendix C: Sources for More Information 191
    Glossary 199
    Index 225

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