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Search - Trader DNA

Trader DNA
Author: David James Norman

'Trader DNA' builds a holistic picture of the successful electronic trader. The book describes how traders can create a multi-dimensional map of their natural trading abilities and using their knowledge, how they can implement trading strategies that take advantage of their strengths. 'Trader DNA' helps a trader develop trading acumen. All t... more »oo often, traders venture into the realm of electronic markets unprepared for what faces them and all too often they end up leaving the industry, significantly poorer and completely disillusioned about their trading future. If a trader took time to assess and understand his natural trading abilities before he started trading electronically, he could save himself money and unnecessary stress. Time taken to assess trading strengths and weaknesses is time well spent and every current or 'would-be' electronic trader should take a step back from the marketplace to assess his abilities, to improve upon his strengths and to limit the impact of his weaknesses not just once, but on a regular basis. 'Trader DNA' unlocks the complex and multi-dimensional psychology of the successful electronic trader and describes in depth the ever-changing electronic environment in which he operates. Electronic trading has been around for over 20 years, and although the level of technological sophistication has increased in the industry, nothing much has changed with regard to how a trader interfaces with electronic markets: the client-server network model is still predominant, traders still pack a great deal of visual information into their desktop real estate using multiple trading screens with multiple trading software applications, and risk management systems are still based on the central counter-party role of the clearing house. Now, however, with the growing sophistication and deployment of automated trading systems, automated quote systems and electronic take-out facilities, traders just starting in the business, those looking to make the transition from floor based trading to screen based trading, and even professional electronic traders are feeling particularly vulnerable. 'Trader DNA' describes how electronic markets are changing, how electronic traders can build skills to enable them to take advantage of the evolving market place and how all traders including new entrants to the marketplace, can improve their trading skills even before they start trading with real money. 'Trader DNA' develops the concept of automated trading through an in depth study of the psychology of the trader, focusing on traders' natural abilities with regard to electronic trading and how they can be improved. In addition, 'Trader DNA' describes several other things: Firstly, what a new electronic trader is likely to confront when he begins trading on electronic markets and what assistance is available to him from outside institutions that can assist him in gaining valuable experience and knowledge of electronic trading. Secondly, how 'Trader DNA' research can help traders to develop trading skills and to improve upon their weaknesses. Thirdly, 'Trader DNA' describes several new and evolving technologies that could become commonplace in the electronic trading industry over the next 10-15 years. Technologies, for example, like digital certificates, a more advanced and robust version of the banking industry 'smart card', will provide a complete blueprint of the trader's credit profile thus enabling him to trade directly with an unknown counterparty without the need to use the services of a central clearing counterparty. Fourthly, 'Trader DNA' explores the way in which developing electronic markets will facilitate a new kind of financial services industry in which the institutions that are currently predominant are modified or replaced by new institutions with various new functions. Fifthly, Trader DNA describes the arrival of a new era of financial individualism, self-reliant, self-supporting and ent

ISBN-13: 9780954049386
ISBN-10: 0954049381
Pages: 280
Rating:

0 stars, based on 0 rating

Publisher: Paradym Limited
Book Type: Paperback
Members Wishing: 0
Reviews: Amazon | Write a Review

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