Trader DNA Book

'Trader DNA' builds a holistic picture of the successful electronic trader. This second edition 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 understand his trading abilities. All too 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.Read More