Way of the Trader: A complete guide to the art of financial trading - Hardcover

Murphy, Ian

Hardcover

ISBN 10: 0857196987 ISBN 13: 9780857196989

Publisher: Harriman House, 2019

Synopsis

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 annotated charts and backtested results.

Way of the Trader is a must read for anyone thinking of trying their hand at trading. It's also an indispensable tool for experienced traders who are unable to remain profitable over the long run and need to introduce order and structure to their daily routine.

Murphy doesn't claim to be another market guru or promise to make you millions. He’s the guy up the street who figured out how to become profitable after years of frustration and confusion. Based on his own experience and that of other professional traders, he systematically demonstrates how patience and perseverance, when coupled with an open mind and hard work, offer a path to a lifestyle which is financially independent and free.

If you have the courage to take that path, this book is the first step on the way.

About this title

About the Author:

Ian Murphy is a successful private trader, trading his own account using trend-following, swing-trading and day-trading strategies. He has studied various facets of trading with a number of experienced traders, including psychology and trading methods with Dr. Alexander Elder. He has also worked closely on technical analysis and trading strategies with Kerry Lovvorn. Throughout his trading career, Ian has maintained detailed records and a diary documenting the highs and lows of his trading experiences. Over time, he identified the most important aspects of the journey as he began to interact with other traders. The lessons learned have now been brought together in his new book, Way of the Trader. Based in Ireland, after college Ian Murphy trained in electronics before travelling in Europe, North Africa and Central America. He returned to Ireland to work in the metal recycling industry, eventually specializing in precious metals. This brought him into contact with the financial markets and he has been an active trader ever since. murphytrading.com

Review:

“The liveliest book on trading I have read in several decades ... A breath of fresh air: real, humane, and genuinely funny. You’ll enjoy reading it” - Dr. Alexander Elder

About this edition

• Publisher: Harriman House
• Publication date: 2019
• ISBN 10: 0857196987
• ISBN 13: 9780857196989
• Binding: Hardcover
• Edition number: 1
• Number of pages: 300