Winning the Trading Game: Why 95% of Traders Lose and What You Must Do To..

307 Pages·2008·3.09 MB·english

by  Noble Drakoln

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Winning the
Trading
Game
Why 95% of Traders Lose and What
You Must Do to Win
NOBLE DRAKOLN
John Wiley & Sons, Inc.
iii
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vi
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Winning the
Trading
Game
i
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Founded in 1807, John Wiley & Sons is the oldest independent publish-
ingcompanyintheUnitedStates.WithofficesinNorthAmerica,Europe,
Australia,andAsia,Wileyisgloballycommittedtodevelopingandmarket-
ing print and electronic products and services for our customers’ profes-
sionalandpersonalknowledgeandunderstanding.
TheWileyTradingseriesfeaturesbooksbytraderswhohavesurvived
the market’s ever changing temperament and have prospered—some by
reinventing systems, others by getting back to basics. Whether a novice
trader, professional or somewhere in-between, these books will provide
theadviceandstrategiesneededtoprospertodayandwellintothefuture.
Foralistofavailabletitles,visitourWebsiteatwww.WileyFinance.com.
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Winning the
Trading
Game
Why 95% of Traders Lose and What
You Must Do to Win
NOBLE DRAKOLN
John Wiley & Sons, Inc.
iii
FM JWBK107-DraKoln February7,2008 10:13 CharCount=0
Copyright(cid:1)C 2008byNobleDraKoln.Allrightsreserved
PublishedbyJohnWiley&Sons,Inc.,Hoboken,NewJersey
PublishedsimultaneouslyinCanada
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LibraryofCongressCataloging-in-PublicationData
DraKoln,Noble.
Winningthetradinggame:why95%oftradersloseandwhatyoumust
dotowin/NobleDraKoln.
p. cm.–(Wileytradingseries)
Includesindex.
ISBN978-0-470-16995-7(cloth)
1.Investments. 2.Portfoliomanagement. 3.Investmentanalysis.
4.Finance,Personal. I.Title.
HG4521.D722008
332.6–dc22 2008004979
PrintedintheUnitedStatesofAmerica.
10 9 8 7 6 5 4 3 2 1
iv
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Thisbookisdedicatedtomysons,AlexandZachary—thanksfor
keepingmefocusedonthefuture.
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vi
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Contents
Preface xv
Acknowledgments xix
PART I More Life at the End of Your Money 1
CHAPTER 1 The Need to Build Wealth 3
RetiringEarly 4
NegativeSavingsRate 5
SocialSecurity 6
Conclusion 8
CHAPTER 2 Money-Making Megatrends 11
Industrialization 12
EmergingMarkets 13
China 13
India 14
Brazil 14
Russia 15
Mexico 15
OtherEmerging-MarketCountries 16
ResourcesunderFire 16
Food 17
Water 17
Energy 18
Ethanol—TheGasolineAlternative 19
Futures,Forex,orStocks? 20
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