Trade Your Way to Wealth: Earn Big Profits with No-Risk, Low-Risk, and Measured-Risk Strategies (Wiley Trading): Bill Kraft
Editorial Reviews
Product Description
Successful trader and advisor Bill Kraft shows how to trade the financial markets in a way that limits risk and provides the potential for big profits. Kraft, who left a successful law practice to become an independent trader, explains his own educational process and how he arrived at a trading approach that primarily uses options to generate consistent income, limit risk, and participate in big market moves. In simple and down-to-earth language, Kraft explains a variety of strategies including buying and selling options; covered call writing; collars; using closed end mutual funds for income; debit spreads, volatility-based straddles; ratio backspreads; condors; and calendar spreads. Kraft emphasizes that traders need to first develop a sound and reasonable business plan – in the same manner that any entrepreneur would plan a new business. Armed with the strategies explained in the book and a solid business plan, traders will have a blueprint for generating consistent profits in a relatively stress-free and efficient manner.
From the Inside Flap
Trading the financial markets can be a risky endeavor, but with the right approach you can achieve success. Author Bill Kraft is well aware of the difficulties that surround trading, but during his time in this field, he’s developed some distinct strategies to overcome these obstacles and enhance the performance of his portfolio.
Now, in Trade Your Way to Wealth, Kraft shares his hard-won knowledge with you and reveals how to trade in a way that limits risk, generates consistent income, and provides the potential for big profits.
Filled with in-depth insights and practical advice, Trade Your Way to Wealth skillfully explains Kraft’s market philosophy—which will allow you to trade with little risk and without the need to monitor the market every day—of keeping your losses to a minimum, while not cutting your gains.
This accessible guide begins by addressing the pros and cons of “buy and hold” investing and then quickly moves on to discuss the importance of cultivating a comprehensive trading plan before you enter today’s markets. With a plan in place, you’ll be introduced to a variety of risk-sensitive trading strategies—primarily based on options—that will allow you to make money, and manage risk, whether the markets are going up, down, or sideways. And unlike so many other books, Kraft shows you where the risks exist and how to deal with them, so you can invest in your comfort zone.
Chapter by chapter, you’ll learn how to take different strategies—from buying stocks with protective puts to selling naked calls—and apply them in real-world trading situations. Along the way, you’ll discover how to efficiently integrate exchange-traded funds (ETFs) into your investment endeavors and become familiar with certain low-risk, high-yield vehicles that can produce consistent income. Many of the examples explored cannot be taxed federally, while some are even exempt from both federal and state taxes.
Whether you’re new to trading or an experienced investor, Trade Your Way to Wealth has the information you need to succeed. It will allow you to capture considerable profits from today’s dynamic markets, while operating in a relatively risk-free manner.
