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Trading Rules: Strategies for Success
By: Eng, William, F

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Item #: 4809770
Pages: 266
Publisher: Marketplace Books
ISBN: 1592802540
Type: Book - Hard Cover
Publish Date : 8/28/2006
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Synopsis:
Trading Rules has evolved into a classic among trading books. In simple, no-nonsense style, William Eng pulls from his own experience to offer 50 hard-earned rules that lay the foundation for lasting success in the markets.

Eng's book isn't about surviving the fluctuations of the market, it's about mastering the moved and making money. Some examples include:

• Learn to trade with the trends
• Big movements take time to develop
• The smarter you are, the longer it takes to win
• Tips don’t make you any money
• Buy rumors and sell facts
• Nothing new ever occurs in the markets
• Don’t watch or trade too many markets at once

Every intelligent trader should study and apply these critical insights of a gifted expert.




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Jacket Description:
Succeeding in the market takes a kind of wisdom that comes from years of experience and insight. Mix this wisdom with intelligent planning and a calm patience and you have all the making of a winning trader. But how does one remain calm and plan intelligently?

This can only come from watching the successes and failures in the market over many years.

William Eng has earned has earned his place in the libraries of trading literature. His awareness of market trends and insights into basic human behavior have allowed him to pinpoint the most critical rules of trading process, rules that can guide a life-long winning career.

Learn to:

• Manage your trades so you make the most money
• Sell short as often as you go long
• Keep a profit from turning into a loss
• Trade at the market and not use price limit orders

Prosper from Eng’s lifelong adventure in the investment world and learn how to make money and cut losses. Whether you are new to trading or a seasoned professional, you’ll learn something new from this book—something you’ll wish you had know years ago.



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Table of Contents:
PREFACE
INTRODUCTION
RULE 1:
DIVIDE YOUR TRADING CAPITAL INTO TEN EQUAL RISK SEGMENTS
RULE 2:
USE A TWO-STEP ORDER PROCESS
RULE 3:
DON'T OVERTRADE
RULE 4:
NEVER LET A PROFIT TURN INTO A LOSS
RULE 5:
TRADE WITH THE TREND
RULE 6:
IF YOU DON'T KNOW WHAT'S GOING ON, DON'T DO ANYTHING
RULE 7:
TIPS DON'T MAKE YOU ANY MONEY
RULE 8:
USE THE RIGHT ORDERS TO GET INTO THE MARKETS
RULE 9:
DON'T BE WHIMSICAL ABOUT CLOSING OUT YOUR TRADES
RULE 10:
WITHDRAW A PORTION OF YOUR PROFITS
RULE 11:
DON'T BUY A STOCK ONLY TO OBTAIN A DIVIDEND
RULE 12:
DON'T AVERAGE YOUR LOSSES
RULE 13:
TAKE BIG PROFITS AND SMALL LOSSES
RULE 14:
GO FOR THE LONG PULL AS AN OUTSIDE SPECULATOR
RULE 15:
SELL SHOR AS OFTEN AS YOU GO LONG
RULE 16:
DON'T BUY SOMETHING BECAUSE IT IS LOW PRICED
RULE 17:
PYRAMID CORRECTLY, IF AT ALL
RULE 18:
DECREASE YOUR TRADING AFTER A SERIES OF SUCCESSES
RULE 19:
DON'T FORMULATE NEW OPINIONS DURING MARKET HOURS
RULE 20:
DON'T FOLLOW THE CROWD- THEY ARE USUALLY WRONG
RULE 21:
DON'T WATCH OR TRADE TOO MANY MARKETS AT ONCE
RULE 22:
BUY THE RUMOR, SELL THE FACT
RULE 23:
TAKE WINDFALL PROFITS WHEN YOU GET THEM
RULE 24:
KEEP CHARTS CURRENT
RULE 25:
PRESERVE YOUR CAPITAL
RULE 26:
NOTHING NEW EVER OCCURS IN THE MARKETS
RULE 27:
MONEY CANNOT BE MADE EVERY DAY FROM THE MARKETS
RULE 28:
BACK YOUR OPINIONS WITH CASH WHEN THEY ARE CONFIRMED BY MARKET ACTIONS
RULE 29:
MARKETS ARE NEVER WRONG, OPINIONS OFTEN ARE
RULE 30:
A GOOD THING IS PROFITABLE RIGHT FROM THE START
RULE 31:
AS LONG AS A MARKET IS ACTING RIGHT, DON'T RUSH TO TAKE PROFITS
RULE 32:
NEVER PERMIT SPECULATIVE VENTURES TO TURN INTO INVESTMENTS
RULE 33:
DON'T TRY TO PREDETERMINE YOUR PROFITS
RULE 34:
NEVER BUY A STOCK BECAUSE IT HAS A BIG DECLINE FROM ITS PREVIOUS HIGH, NOR SELL A STOCK BECAUSE IT IS HIGH PRICED
RULE 35:
BECOME A BUYER AS SOON AS A STOCK MAKES NEW HIGHS AFTER A NORMAL REACTION
RULE 36:
THE HUMAN SIDE OF EVERY PERSON IS THE GREATEST ENEMY TO SUCCESSFUL TRADING
RULE 37:
BAN WISHFUL THINKING IN THE MARKETS
RULE 38:
BIG MOVEMENTS TAKE TIME TO DEVELOP
RULE 39:
DON'T BE TOO CURIOUS ABOUT THE REASONS BEHIND THE MOVES
RULE 40:
LOOK FOR REASONABLE PROFITS
RULE 41:
IF YOU CAN'T MAKE MONEY TRADING THE LEADING ISSUES, YOU AREN'T GOING TO MAKE IT TRADING THE OVERALL MARKETS
RULE 42:
LEADERS OF TODAY MAY NOT BE THE LEADERS OF TOMORROW
RULE 43:
TRADE THE ACTIVE STOCKS
RULE 44:
AVOID DISCRETIONARY ACCOUNTS AND PARTNERSHIP TRADING ACCOUNTS
RULE 45:
BEAR MARKETS HAVE NO SUPPORTS AND BULL MARKERS HAVE NO RESISTANCE
RULE 46:
THE SMARTER YOU ARE, THE LONGER IT TAKES
RULE 47:
IT IS HARDER TO GET OUT OF A TRADE THAN TO GET INTO ONE
RULE 48:
DON'T TALK ABOUT WHAT YOU'RE DOING IN THE MARKETS
RULE 49:
WHEN TIME IS UP, MARKETS MUST REVERSE
RULE 50:
CONTROL WHAT YOU CAN, MANAGE WHAT YOU CANNOT

CONCLUSION- THE 360 DEGREE WHEEL THEORY

INDEX



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