Marcel Link's book Trading Without Gambling

I have read lots of trading book. Some are good some are hard to understand some are present in a way so that people like the book. There are lot of trading books expert trader recommend. I have read most of popular trading book if not I will read them in future. 

Today I will talk about a book that is easy to understand and excellent book to me. I quite like the books because the book is contain lots of information that is usually ignore by new or even semi expert traders. I am talking about "Marcel Link's book Trading Without Gambling".

Marcel Link's explain 

The Trading Plan comes first and should account for the following parameters:

1.  Entering a trade.

2.  Exiting a trade.

3.  Stop Placement.

4.  Position Sizing.

5.  Money Management.

6.  What to Trade.

7.  Trading Time Frames.

8.  Back Testing.

9.  Performance Review.

10.  Risk vs. Reward.

The Game Plan consists of putting the parameters of the Trading Plan to work in day to day trading with the following benefits:

1.  It will force the trader to select a trading style.

2.  It will encourage market study.

3.  It will aide in helping pick the correct trades.

4.  It will prepare the trader for what the market has to offer.

5.  It will help in properly monitoring and exiting trades.

6.  It will keep the trader from overtrading.

7.  It will help with finances.

8.  It will keep the trader focused.

9.  It will take the gambling out of trading.

10.  It will make a better trader out of you.

Link uses a baseball analogy to explain that they are two different creatures that rely on each other to work.  "A good trading plan with no game plan won't work. That's like Pedro having the best fastball and curveball in the world but not knowing when to throw them or who to throw them at.  On the other hand, without a trading plan, a game plan is not nearly as strong.  It's like Pedro deciding he needs to throw a knuckleball in a tough situation, but realizing too late that he never learned to throw one.  But once he gets both of these plans working together, he can win a lot of games and be the superb pitcher that he is".