Trading Rules: Strategies for Success (Hardcover)

~ (Author) "This rule of money management is widely credited to William D. Gann, the author and trader who developed innovative trading methods in the early part..." (more)
Key Phrases: normal pyramid, tick profit, unsuccessful traders, Chicago Board of Trade, Penn Central, Commodity Exchange (more...)

Editorial Reviews

Product Description

Here is a collection of over 50 strategies for market success targeted to sophisticated investors and financial professionals. Eng explains what works and what doesn't in an authoritative yet accessible tone. Partial Contents: Don't Follow the Crowd; Markets Are Never Wrong, Opinions Often Are; Grab Windfall Profits; Make a Distinction Between Speculating and Investing; Bear Markets Have No Supports, Bull Markets Have No Resistances; Index.

Product Details

• Hardcover: 266 pages
• Publisher: Longman Financial Service; 8th printing edition (January 1990)
• Language: English
• ISBN-10: 0884629201
• ISBN-13: 978-0884629207
• Product Dimensions: 9.2 x 6.4 x 1 inches
• Shipping Weight: 1.2 pounds
• Average Customer Review: 4.3 out of 5 stars  See all reviews (10 customer reviews)
• Amazon.com Sales Rank: #756,870 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

30 of 30 people found the following review helpful:

5.0 out of 5 stars For intermediate traders, November 28, 2000

By A Customer

The better I get at making money trading, (not investing), the more these good books show up. (When the student is ready, the teacher will appear). I have read dozens of books over the years like all of you,and most of them did nothing for me except help me part with my money. I would get discouraged and quit the game for a few weeks or a couple of months but love of the game kept bringing me back. And when I picked up books like this one, some years ago, it didn't interest me. Know why? I wasn't ready for it. The reason it interests me now is because through many losses and trial and error, I am finding my way through this trading game and I find myself doing most of the right things now and when I read a book like this one, it confirms it! When I was a novice and not doing the right things, this book didn't confirm it, hence, it didn't appeal to me. I guess what I'm saying is, if your not improving at the trading game, then perhaps you're not ready for this book. If you are, you will be pleased to see yourself on many of the pages, but better yet, the confirmation you'll get from the book will increase your confidence and you just have to make more money. Maybe if you're not doing well and read this book, it will help you, too. All I know is when I was losing every day, I kept reading all the hype in the day trading books, losing money and this book didn't appeal to me. Now I have patience and discipline and sleep better and make money. This book has helped me make more as a position/swing trader of stocks only. Just keep in mind the 4 cardinal rules of trading: 1. Trade the trend, 2. Cut your losses quickly, 3. Let your profits run to infinity, and 4. Manage your risk. And when you learn that managing your risk partly involves losing money properly, then losing money won't bother you anymore. Read and reread this book and perhaps you too can trade the market for a living. And you know what? The markets are crashing and I'm still making money. I'm not sure if I would if I hadn't read the book.

13 of 13 people found the following review helpful:

5.0 out of 5 stars Outstanding! You shouldnt miss this!, May 15, 2003

By	ServantofGod - See all my reviews (TOP 500 REVIEWER)

The book began with the author's recall of the suicide of his bond trader friend who lost about US$60K in one single Friday in 1982. Quite a sad story, but it did tell how serious the author was about trading and his sincerity of writing a good book that attempted to help traders and those aspiring ones. In my opinion, he did a very good job.

With fifty chapters of individual trading rules (one can refer to the sample page on Amazon.com), the author had discussed, with abundant real life samples, and without nonsense, most of the essential trading rules that I had read here and there in other trading books and had personally experienced, though not effectively put into practice. One might had already read a lot of trading books. I did. However, this one was so well written and organised that I would like to recommend it to anybody who wants to buy a book for easy reference to keep himself/herself well guarded against the ups and downs of trading life.

13 of 13 people found the following review helpful:

5.0 out of 5 stars Wisdom for Traders, Not "Trading for Dummies", May 27, 2002

By	"mscarborough" (Smyrna, GA United States) - See all my reviews

This book is about the mindset and mental habits a trader needs to be successful in the markets. Every successful trading career has been a process of learning the "rules" in this book. If you can imagine a good friend with years of experience giving you advice on how to improve your trading; that is exactly how this book reads. This book IS NOT a "how to place a trade book." It IS an excellent book on what not to do once a trade has been placed. No book can replace the school of hard knocks every trader has to go through in order to succeed, but if you embrace the principles contained in this book and make them your own; you will save yourself a ton of money. You may even save yourself enough money to stay in the game.