Last updated on April 11th, 2020
Trading is difficult but it is still very possible to make money doing it.
The question on the mind of everybody that takes up trading is:
“How do I achieve the goal of making money”?
What is required is adapting a successful existing business model to this speculative arena?
The model that makes most sense is the “casino paradigm” and nobody understands it better than author Richard Weissman – a professional trader with over fifteen years of experience consulting and training traders and risk managers.
In his superb book called “Trade Like A Casino“, Weissman dives into how many successful traders operate and that is that they operate just like a casino.
Your Casino Mindset In Trading
Every casino has an edge but that edge is extremely small. In traders speak, the casino has a positive expectancy when it does business and while they may not win every hand, they end up as the last “person” standing.
Successful traders use a trading method with positive expectancy and then implement their method in changing and also volatile market conditions.
Weissman explores the intricacies of methodology, mental control, and flexibility that allow traders to develop and maintain a casino-like edge.
It also addresses some of the more complex issues that surround this model of successful speculative trading.
An Exciting Trading Interview
In this NetPicks Author Series Webinar, we’re sitting down with Richard to get some nuggets you can use including:
- Reveal the best-kept secret in trading, the cyclical nature of volatility, and offers insights on the tools needed to measure it
- Discuss the importance of timeframe analysis and one of the most important tools associated with it—time frame divergence
- Cover common trading pitfalls and how to transcend them as well as a wide variety of techniques for analyzing and improving trader performance
- Examine the psychological mindset required to succeed with a positive expectancy model
Successful traders don’t need luck, since they consistently play the probabilities and manage risk. That’s how casinos win, and with this book as your guide, that’s how you’ll learn to win in today’s dynamic markets.