Free Ebook: Trading like a sniper. pdf

Nadexsniper

Nadexsniper

strategy is key but trading psychology is more important which contribute 80%+ to your success. if you want to trade like a sniper and pursue long term profits, then the book is for you.
wish you succeed in trading.
 

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When you start trading, there is stress for fear to lose money. however, we can learn to manage the stress by control our breath. Breathing is a unique hybrid to the brain and body. It is simultaneously autonomic and volitional. Due to its autonomic character, you are able to breathe without thinking about it. When you go to sleep, your breathing will go on about its business without your slightest concern. Due to its volitional nature, you can manage how you breathe when in an awakened state. It is this aspect, managing how you breathe, that is vital to emotional regulation.
 
over trading

In a trained trader’s mind, the trader maintains an emotional state of disciplined impartiality. The feeling element of this emotional state produces a belief in the certainty that the trader can take advantage of what ever the market is willing to give it. This state of mind is much more conducive to effective trading and can be developed though memory enrichment and symbolic representation.

overtrading also make your wining rate lower and make you at disadvantages from the probability perspective. so from long run, over trading will make you reach a negative expectation on trading results.
 
traider said:
GPT summary please?
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I’m not the right audience for this but I’m sure one of the 1200 readers so far will get off their arse to thank you and write a review


via Anthropic for pdfs

>>>
Here is a summary of the key points from the book:

- The "trading zone" is a mental state where traders are calm, focused, and able to make objective trading decisions. Strategies to stay in the zone include managing emotions, accepting losses as part of trading, avoiding over-trading, and maintaining discipline.

- Emotion management is critical for successful trading. Fear, greed, impatience, and overconfidence are common emotions that need to be mastered. Traders should train their brains to view losses as normal rather than dangerous.

- Proper risk management involves determining how much capital to risk per trade and actively managing open positions - letting winners run and cutting losses quickly.

- "Trading like a sniper" means being selective, trading less, focusing on higher timeframe charts, and waiting patiently for high-probability setups. This contrasts with "machine gun" trading which is over-trading and chasing lower probability setups.

- For consistent success, the author recommends a "team approach" where traders work together to make decisions and place trades, providing an external control mechanism. The author gives an example from his experience of partnering with others this way.

- Key themes throughout the book are mastering emotions, training patience and discipline, managing risk, and finding external support/accountability. The author argues trading psychology is critical but under-addressed.
 
trismes said:
I’m not the right audience for this but I’m sure one of the 1200 readers so far will get off their arse to thank you and write a review


via Anthropic for pdfs

>>>
Here is a summary of the key points from the book:

- The "trading zone" is a mental state where traders are calm, focused, and able to make objective trading decisions. Strategies to stay in the zone include managing emotions, accepting losses as part of trading, avoiding over-trading, and maintaining discipline.

- Emotion management is critical for successful trading. Fear, greed, impatience, and overconfidence are common emotions that need to be mastered. Traders should train their brains to view losses as normal rather than dangerous.

- Proper risk management involves determining how much capital to risk per trade and actively managing open positions - letting winners run and cutting losses quickly.

- "Trading like a sniper" means being selective, trading less, focusing on higher timeframe charts, and waiting patiently for high-probability setups. This contrasts with "machine gun" trading which is over-trading and chasing lower probability setups.

- For consistent success, the author recommends a "team approach" where traders work together to make decisions and place trades, providing an external control mechanism. The author gives an example from his experience of partnering with others this way.

- Key themes throughout the book are mastering emotions, training patience and discipline, managing risk, and finding external support/accountability. The author argues trading psychology is critical but under-addressed.
More...

Good brief summary.:thumbsup:
 
trader’s fear of loss is not only located in the here and now of his trading, but also in his history. And that history shaped how he sees the market, opportunity, risk, and reward. He adapted to avoid loss. This is his Adapted Voice reacting unconsciously (mindlessly) to the Prosecuting Attorney in his head. This trader can hear a voice in him saying, “Don’t you dare be foolish. Don’t risk your capital stupidly. Keep a tight lid on your losses – or you’ll be left homeless.” Out of fear of loss inherited from a previous generation, his internal dialog limits who he can be today as a trader. Tragic – the historical dialog he trades from was transparent to him. Now, it is not. He no longer mindlessly has to be held prisoner by this intergenerational conversation of possibilities.
 
Once breathing becomes a skill, it can be used like a rheostat for your heart rate. There is a reciprocal relationship between the rate at which you breathe and the rate at which the heart pumps. When breathing with long, deep breaths you produce a mood of calmness where the heart is at rest and the heart rate is slowed down. However if you speed breathing up (or stop breathing), you also speed up the heart rate. As the heart begins to beat harder and faster, an alarm is triggered in the survival brain and it triggers to fight or flight. An emotional hijacking (and a bad trade) is in progress. This, in combination with your cutting off your air supply to the brain, leads the primitive survival brain to overwhelm the thinking brain and become a runaway freight train. This is not conducive to successful trading

---- Trading like a sniper 3rd edition
 
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