The Simple Strategy by Markus Heitkoetter is a book that provides a step by step trading plan for trading stocks, futures, Forex and ETFs. It offers a simplified approach to trading where traders can learn important things such as how to make money even if half of their trades are losing trades, setting up their charts, when to enter or exit a trade, the right places to put their stop loss, the best time to take profits and so much more.
There are a lot of graphics and charts that have been used in the book to help the readers understand every point and implement it. Traders do not need to buy any expensive charting software or proprietary indicators when they have this book. All that is needed is a charting software that has essential charting capabilities such as ability to plot MACD, Range Bars, RSI, and Bollinger Bands. This is quite encouraging considering the fact that more than 90% of the charting software available nowadays have these capabilities.
Markus Heitkoetter brings a fresh approach to the topics and subtopics under every chapter. For example, Bollinger Brands is an indicator that has existed for quite a while now but very few people knew it could be used as dynamic trendlines. This unique approach is what makes the book stand out by providing a new way forward for traders in the industry.
The Simple Strategy has been written to suit all types of traders including professionals and amateurs. It tells them how to take the best advantage of intra-day trends when trading. Nowadays, traders face numerous challenges especially after the arrival of computerized trading and low trading commissions, but any challenge can be met and conquered by reading this book.
At the beginning of the book, Marcus narrates his own inspirational journey to success as a trader. He explains how he felt frustrated at one point of his life as a result of what he calls Analysis Paralysis, which occurs when traders plot so many indicators on their charts that they can no longer see the price action. Instead of using so many indicators, the Simple Strategy provides only three that can be used to make all the trading decisions needed.
The Simple Strategy offers a comprehensive guide to day trading from a renowned trading coach to help even the most inexperienced trader learn the dos and don’ts of this exciting profession. More information about this book can be found at the official website of Rockwell Trading.