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Way of the Trader

A complete guide to the art of financial trading

By Ian Murphy
Cover of Way of the Trader (Hardback) by Ian Murphy Cover of Way of the Trader (Mobile Phone) Cover of Way of the Trader (Tablet)

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About the Author

Ian Murphy

Ian Murphy is a successful private trader, trading his own account using trend-following, swing-trading and day-trading strategies. He has studied various facets of trading with a number of experienced traders, including psychology and trading methods with Dr. Alexander Elder. He has also worked closely on technical analysis and trading strategies with Kerry Lovvorn.

Throughout his trading ... Read more on Ian Murphy

Contents Listing

The Foreword by Dr. Alexander Elder
The Introduction

Part A
The Job: Is Trading a Job or a Business?
The Relationship: A Trader and The Market

Part B
One Rule: The Preservation of Capital
Two Choices: Keeping it Simple
Three Styles: Trend Following, Swing Trading and Day Trading
Four Legs: The Attributes Which Support a Successful Trader
Five Stages: The Path of a Successful Trader's Career
Six Edges: The Psychological Tools of a Successful Trader
Seven Records: A Look at the Records a Trader Should Keep
Eight Checks: A Comprehensive Pre-Trading Checklist
Nine Filters: Selecting Which Stocks to Trade Using Filters
Ten Tools: An Introduction to Technical Indicators and Orders

Part C
The Strategies
Perfect Imperfection
The Tidal Strategy
The Wilde Strategy
The Help-Up Strategy
The Help-Down Strategy

The Beginning
The Acknowledgements
The Author
The Index
The Foreword by Dr. Alexander Elder
The Introduction

Part A
The Job: Is Trading a Job or a Business?
The Relationship: A Trader and The Market

Part B
One Rule: The Preservation of Capital
Two Choices: Keeping it Simple
Three Styles: Trend Following, Swing Trading and Day Trading
Four Legs: The Attributes Which Support a Successful Trader
Five Stages: The Path of a Successful Trader's ...

Jacket Text

Way of the Trader offers a fresh perspective on a mysterious art - trading the financial markets. Over 15 compelling chapters, Ian Murphy unpacks the world of a private trader, providing a wealth of practical tools for those wishing to make a living from the markets.

In Part A he examines the job of a trader and their relationship with the market - and how to survive where so many others have failed.

In Part B he reveals the habits of serious professionals. These include essential procedures such as the Eight Checks and the Nine Filters which should be employed by all traders before a single penny is placed in the market. Most important of all, Ian explains how the Five Limits of Risk allow us to embrace the dangers at the heart of trading, so we can face the market with confidence and clarity.

In the Six Edges chapter, psychology - the key to trading success - is closely examined and we see how the concept of a trading edge is overrated and misunderstood. We also learn how Buddhist techniques for working with the mind can be profitably employed in the market.

In Part C the author shares three consistently profitable trading strategies which expose opportunities inherent in the market and demonstrates how to leverage those opportunities. These strategies are explained in great detail with the aid of annotated charts and backtested results.

Way of the Trader is a must read for anyone thinking of trying their hand at trading. It's also an indispensable tool for experienced traders who are unable to remain profitable over the long run and need to introduce order and structure to their daily routine.

Murphy doesn't claim to be another market guru or promise to make you millions. He’s the guy up the street who figured out how to become profitable after years of frustration and confusion. Based on his own experience and that of other professional traders, he systematically demonstrates how patience and perseverance, when coupled with an open mind and hard work, offer a path to a lifestyle which is financially independent and free.

If you have the courage to take that path, this book is the first step on the way.

Professional Reviews

“The liveliest book on trading I have read in several decades … A breath of fresh air: real, humane, and genuinely funny. You’ll enjoy reading it” Dr. Alexander Elder

Overall, Way of the Trader is an ideal companion for those new to the world of financial trading, as well as an indispensable guide for more experienced traders who also might find a few new ideas to apply to their methods. Richard Gill, CFA, for Master Investor Magazine


Media Coverage

The Vox Markets Podcast

Ian Murphy full time trader and author of - "Way of the Trader - A Complete Guide to the Art of Financial Trading" talks about new his book.

Ian Murphy is a successful private trader, trading his ...

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Talk Markets

It’s been a while since a mainstream publisher released a book on trading, especially trading with a human face. Ian Murphy’s Way of the Trader: A Complete Guide to the Art of Financial Trading ...

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Master Investor

Overall, Way of the Trader is an ideal companion for those new to the world of financial trading, as well as an indispensable guide for more experienced traders who also might find a few new ideas to ...

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Stocks & Commodities

Ian Murphy trades his own account using trend-following, swing trading, and daytrading strategies. He studied under experienced traders such as Alexander Elder and Kerry Lovvorn. Working in metal ...

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