Millionaire
Traders
by Kathy Lien
and Boris Schlossberg
     
 
Millionaire Traders by
Kathy Lien and Boris Schlossberg
From the Inside
Flap
Every day, millions of
ordinary people around the world wake up, turn on their
computers, and try to make a living by trading the financial
markets. Some are successful, some fail, but the possibility of
hitting it big attracts many to the business.
As currency strategists and
traders, authors Kathy Lien and Boris Schlossberg have been
active in the markets for more than a decade, meeting many
successful individual traders along the way.
In Millionaire Traders, Lien
and Schlossberg interview twelve ordinary individuals who have
transformed themselves into extraordinary traders. These people
aren't hedge fund managers or employees of large money center
banks with billions at their disposal, but regular folks who
started with as little as $1,000 and turned those modest
initial investments into six- to seven-figure
fortunes.
The traders you'll encounter
come from all walks of life, live around the world, and trade a
variety of electronic markets. Some focus on equities and
options, while others deal in futures or foreign exchange. Each
has a very different style of trading—many that are even in
direct conflict with each other—but all share the common traits
of discipline, persistence, and the willingness to always cut
losses.
Some of the individuals who
share their experiences in the art of trading
include:
Dana "Dan" Allen: the man who
buys crashes and thrives on making bids when most other market
participants are running for the exits
Chuck Hayes: who breaks many
of the sacrosanct rules of trading yet thrives in the chaotic
world of e-mini stock index futures, where the difference
between fortune and failure can be measured in
seconds
Indi Jones (this is an
alias): who trades options for volatility as well as
directionality, using sentiment and psychology to select his
winning contrarian ideas
Roland Campbell: who likes to
trade news flow, but only the news that catches the market off
guard
While none of the traders
highlighted throughout this book were successful from the
start, all learned from their early failures and used those
experiences to improve performance. Now, with Millionaire
Traders, they'll show you how to make serious money in today's
financial markets—whether it be through stocks, futures, or
forex.
From the Back
Cover
Millionaire
Traders
Trading is a battle between
you and the market. And while you might not be a financial
professional, that doesn't mean you can't win this
battle.
Through interviews with
twelve ordinary individuals who have worked hard to transform
themselves into extraordinary traders, Millionaire Traders
reveals how you can beat Wall Street at its own
game.
Filled with in-depth insights
and practical advice, this book introduces you to a dozen
successful traders—some who focus on equities, others who deal
in futures or foreign exchange—and examines the paths they've
taken to capture considerable profits.
With this book as your guide,
you'll quickly become familiar with a variety of strategies
that can be used to make money in today's financial markets.
Those that will help you achieve this goal include:
Tyrone Ball: trades Nasdaq
stocks almost exclusively, and his ability to change with the
times has enabled him to prosper during some of the most
treacherous market environments in recent history
AShkan Bolour: one of the
earliest entrants into the retail forex market, he trades in
the direction of the major trend, rather than trying to find
reversals
Frank Law: a technician at
heart, identifies a trading zone, commits to it, and scales
down as long as the zone holds
Paul Willette: has mastered a
method that allows him to harvest some profits right away,
while ensuring that he can still benefit from an occasional
extension run in his favor
About the
Author
Kathy Lien is the Chief
Currency Strategist at Forex Capital Markets LLC (FXCM). She is
responsible for providing research and analysis for
DailyFX.com, one of the most popular FX portals on the Web.
Lien has written for MarketWatch from Dow Jones, Active Trader,
Futures, and SFO magazines and is frequently quoted on
Bloomberg and Reuters. She is also the author of Day Trading
the Currency Market, which is published by Wiley.
Boris Schlossberg serves as
Senior Currency Strategist at Forex Capital Markets LLC (FXCM)
in New York. Mr. Schlossberg is a commentator for MarketWatch
from Dow Jones, Reuters, and Bloomberg and provides weekly
analysis of the currency markets for CNBC's Squawk Box. He is
also the author of Technical Analysis of the Currency Market,
published by Wiley.
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