The Laws of Trading

<p><b>Every decision is a trade. Learn to think about the ones you should do — and the ones you shouldn’t.</b></p> <p>Trading books generally break down into two categories: the ones which claim to teach you how to make money trading, and the memoir-style books recounting scandals and bad behavior. But the former don’t have profitable trades to teach; if they did they’d keep those trades to themselves. And the latter are frequently entertaining, but they don’t leave you with much you can apply in your own life. <i>The Laws of Trading</i> is different.</p> <p>All of our relationships and decisions involve trading at some level. This is a book about decision-making through the lens of a professional prop trader. For years, behavioral and cognitive scientists have shown us how human decision-making is flawed and biased. But how do you learn to avoid these problems in day-to-day decisions where you have to react in real-time? What are the important things to think about and to act on? The world needs a book by a prop trader who has lived, breathed and taught trading for a living, drawing upon years of insights on the trading floor in real markets, good and bad, whether going sideways, crashing, or bubbling over. If you can master the decision-making skills needed to profitably trade in modern markets, you can master decision-making in all walks of life. This book will teach you exactly those skills.</p> <ul> <li>Introduces, develops, and applies one law per chapter, making it easy not only to remember useful concepts, but also to have them at the ready in any situation.</li> <li>Shows you how to find and think about the “special edge” of your organization, and yourself.</li> <li>Teaches you how to handle the interaction of people with artificially intelligent (AI) machines that make decisions, a skill that is rapidly becoming essential in the AI-driven economy of the future.</li> <li>Includes a “bonus” digital ancillary, an Excel spreadsheet with various worked examples that expand on the scenarios described in the book.</li> </ul> <p>Do you need to make rational decisions in a competitive environment? Almost everyone does. This book will teach you the tools that let you do your job better. </p>