This book features practical trading strategies that incorporate the use of futures, options, and spot markets. Filled with in-depth insights and expert advice, "Trade Like a Pro" will show readers how to: construct trades that carefully incorporate spot, futures, and options together; choose one of 15 strategies that can diminish risk and maximize profit potential; and determine the risk/reward profile of staying in a trade, or if a trade can be salvaged, using any one of the 15 strategies to rescue the position. Each strategy is broken down into three components: 'why you should use it', 'when you should use it', and 'what market environments are most conductive' to using it. Included among the strategies are: using options as a stop or as a risk management tool and using straddles and strangles to trade news events. Noble DraKoln (Long Beach, CA) is President of Liverpool Group Inc. and author of the Wiley title "Winning the Trading Game" (978-0-470-16995-7).
Preface. Acknowledgments. Part I. Designing the Trade. Chapter 1. From Retail Trader to Professional Trader. Transitioning from Retail Trader to Professional Trader. Successful Professional Traders. Tightening up Your Approach to the Markets. Chapter 2. Markets and Margin. Exchanges. What Does This Mean for the Market? Daisy Chain Effect. Global Markets. Becoming a Sophisticated Trader. What Do These Changes Mean for Your Trading? Chapter 3. Some Essentials of Trading Three Different Types of Traders. A Trader's Focus. Essential Trading Concepts. Using This Book to Its Fullest Potential. Part II. Basic Strategies. Chapter 4. Holding the Bull and the Bear by the Tails. Straddle, Strangle, and Execution. Getting the Right Options for the Job. Option Tutorial. Sample Straddle and Strangle Write-up Sheets. Conclusion. Chapter 5. Precision Trading at Its Finest. What is Hedge Trading? Precision Trading Ground Rules. Identifying Market Trends. Conclusion. Chapter 6. Trading with Hard Stops. Stop Loss Order. Options as an Alternative to the Stop. Conclusion. Chapter 7. The Markets on a Leash. Collar. General Collar Pitfalls. Day Traders. Conclusion. Chapter 8. Replacing Traditional Options with Synthetic Options. Synthetic Option versus Standard Option. When to Use a Synthetic Option. Conclusion. Chapter 9. Everything in its season. Spread Opportunities. Conclusion. Chapter 10. Gunning for Premiums with Covered Options. Problems with Selling Options. Covered Option Trading. Conclusion. Chapter 11. Outflanking the Market. Frontspreads and Backspreads. Trading Backspreads. Conclusion. Part III. Advanced Strategies. Chapter 12. Exposing Yourself to Loss. Synthetic Futures, Long - Short. Primary Drawbacks. Inter-commodity Spread. Primary Drawbacks. The Bull Call Spread and Bear Put Spread. Primary Drawbacks. Conclusion. Chapter 13. Advanced Option Selling Strategies. Do 90% of Options Expire Worthless? What to Expect When Selling Options. Strangles, Straddles, or Naked Options. Sell Straddle. Sell Strangle. Naked Option Selling. Conclusion. Chapter 14. Retreat, Recovery, Opportunity. Manipulating the Strategies. Conclusion. Chapter 15. Analyzing Charts and Strategies. S&P 500. Euro. Gold. Corn. Oil. Conclusion. Chapter 16. Applying These Strategies with Stocks. Stocks. Strategies. Conclusion. About the Author. Index
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