Trading With Confluence: A Risk-Based Approach to Trading Equity Index Futures [Paperback]

CRM Michael Toma (Author)

Book Description

Publication Date: February 26, 2010

"Success is all about managing risk, not profits."

In Trading With Confluence, Michael Toma takes a unique risk-based approach to succeeding in trading futures. "The one single reason that separates success and failure in trading is the ability to focus on and assess risk", says Toma, who admits throughout the book that his risk management expertise, not his trading skills, propelled his success as a trader. The author provides all the information needed to succeed including his ten most profitable trading setups in an easy-to-understand format. The author also explains his unique methodology on how to self-assess your own trading performance by using key performance indicators specific to trading futures.

Additional topics in the book include:

-The importance of managing risk and how to identify high probability opportunities.
-The 'Big 4 and Little 3' - the 7 key elements to trading success.
-Step-by-step instruction on how to setup your trading business.
-How to create your trading plan and trade journal.
-Learn how to measure and assess your trading activity like a professional risk manager.
-Development of key performance indicators allowing you to monitor your success and identify areas of improvement.
-Learning the 'graduation plan' method of managing your trading capital.
-Explanation of high probability setups to use immediately.
-Specific tips on how to overcome the demons of trading psychology.
-A chapter on the realities of trading and how to minimize mistakes.
-Characteristics of a successful trading coach and how to select the right one for you.

Trading With Confluence provides trade setups you can use from the 1st day you start your trading business and will help reduce the learning curve time that most traders struggle through before becoming consistently profitable.

After spending several years as a corporate risk manager, Michael Toma takes the same risk principles used in his teaching of risk theory and combines it with his passion for trading into a no-nonsense yet intuitive understanding of why markets move through areas of 'confluence'. In Trading With Confluence, Toma provides the trader with all they need to know to trade e-mini futures by minimizing risk of capital. Packed with valuable trade setups, trading templates and platform charting tips, Trading With Confluence is a must read for the novice trader hungry for success trading the e-mini futures markets.

Product Details

• Paperback: 284 pages
• Publisher: Outskirts Press (February 26, 2010)
• Language: English
• ISBN-10: 1432753223
• ISBN-13: 978-1432753221
• Product Dimensions: 6 x 9 x 0.6 inches
• Shipping Weight: 13.6 ounces (View shipping rates and policies)
• Average Customer Review: 4.5 out of 5 stars  See all reviews (4 customer reviews)
• Amazon Best Sellers Rank: #1,720,383 in Books (See Top 100 in Books)

More About the Author

Michael Toma, CRM, is the author of Trading with Confluence, A Risk-Based Approach to Trading Equity Index Futures, in which he details his approach to long-term success in trading futures. His unique "focus on the risk" approach to trading using data-driven risk analytics has attracted professionals seeking improvement in their trading performance as well as new traders seeking a consistent and transparent approach to the markets. Mr. Toma also received the Certified Risk Manager (CRM) designation for risk management excellence from the National Alliance in 2007. In addition to his experience as a corporate risk specialist, he actively trades the US-based equity index and index futures markets as well as the equity markets in mainland China.

Customer Reviews

Most Helpful Customer Reviews

2 of 2 people found the following review helpful:

5.0 out of 5 stars great book for new in trading.!, March 30, 2010

By 

kimberly pisanti - See all my reviews

This review is from: Trading With Confluence: A Risk-Based Approach to Trading Equity Index Futures (Paperback)

This book really hit home with me. I am new to trading but have been following the international markets for some time. I've read a lot of trading books but none really allowed me to think about risk. This book showed me that there's more to risk than just stop loss orders. I'm now going to start my development plan as it is designed in the book. It's something I really need to do to become better at trading. I started to keep a trade journal but only used it for tracking results. The best part of the book is when he shows how I can use my trade journal to find where I can improve. It's a bit advanced so I had to read it twice but I am excited about using these changes immediately.
The graduation plan was my 'ah ha' moment where the book shows how to increase my contract level. Before I was increasing after a good day but using different contract levels for different setups is a brilliant idea.
I also like how the author details his setups that he uses. The chapter on setups was also good because I could always use new proven setups. The other books I read only talk about trends and to be sure to use stops. The book gives specific details about each setup and risk reward and not just what I need to be comfortable with. It is very different than most trading books that bore you with chart theory stuff. Really enjoyed it.!!!

1 of 1 people found the following review helpful:

5.0 out of 5 stars Great Book, Highly Recommended, April 1, 2010

By 

kristie Zhang (New Jersey) - See all my reviews

This review is from: Trading With Confluence: A Risk-Based Approach to Trading Equity Index Futures (Paperback)

I have been swing trading stocks for many years now and have done well over the long term but I did have some trades with large losses. My focus now is trying to reduce my losing trades and manage risk better. I also want to learn how to short stocks now that China markets have approved shorting. I have been reading more `Complete guide' books on shorter term trading and have found this book to be more specific when talking about money management, how to identify trends, and managing risk. This is the first book I have read that gives details about specific setups to use. That was very important to me.
I highly recommend this book for new traders looking to make trading their business. Beginning traders may want to learn basic candlestick charts first since the book is a little more advanced for that.
I met the author, Michael Toma, at a recent book signing and he was very personable. I told him I only trade stocks and he talked to me to afterwards about how to use the same principles for trading stocks that he uses for futures. I'm not ready to make the change to futures yet so that was a very big help.
I highly recommend this book since his risk approach is quite different than any other trading books I have read.

5.0 out of 5 stars wonderful book, September 15, 2010

By 

Adam Cheng - See all my reviews

This review is from: Trading With Confluence: A Risk-Based Approach to Trading Equity Index Futures (Paperback)

The spotlight of this book is to give you a detailed specific plan for risk management. The book is easy to follow for novice and intermediate investor. It explains that risk management is not just putting stop order and shows you how to use all these tools together to protect your investment. I have been trading stocks for many years. I am still appreciating the concept through Mr. Toma's perspective thought. The more important thing I got from this book is how to live a positive life as an isolated stock trader. Definitely will recommend this book to others.