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    The Ruff Guide to Trading: Make money in the markets
    The Ruff Guide to Trading: Make money in the markets
    The Ruff Guide to Trading: Make money in the markets
    Ebook191 pages1 hour

    The Ruff Guide to Trading: Make money in the markets

    By Steve Ruffley

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    About this ebook

    If it's trading, then Steve Ruffley has seen it and done it!

    Steve Ruffley has been involved in the finance industry for 15 years and is currently chief market strategist and head of education at InterTrader. In his Ruff Guide to Trading, he shows you the markets through his eyes. He reveals how he sees trading as a whole, how he assesses and exploits trading opportunities, and how he thinks about risk. He also describes three of his winning strategies.

    The focus of the Ruff Guide is intraday trading; everything covered relates to finding and making money from short-term trading opportunities that arise as part of everyday market moves.

    At the heart of Steve Ruffley's approach is a very simple 80-20 rule for understanding market movement. This is that market moves are 80% technical and 20% fundamental. He explains the fundamental and technical aspects you need to use to get the right balance in your market analysis and shows how to put these into practice with examples from real-life market action.

    Steve also explains why success at trading first requires you to understand yourself and your fellow traders, and provides guidance to help you gain this understanding.

    The Ruff Guide is the result of Steve Ruffley's thousands of hours of trading, charting and teaching experience. Pick it up to follow the simple and accessible guidance of someone who has seen and done it all before.
    LanguageEnglish
    PublisherHarriman House
    Release dateSep 30, 2015
    ISBN9780857194985
    The Ruff Guide to Trading: Make money in the markets
    Author

    Steve Ruffley

    Steve Ruffley has been involved in the finance industry for 15 years. "If it's trading, then I've done it," is one of his favourite sayings. Steve's career began placing investments for high net worth clients at PricewaterhouseCoopers. He was quickly hooked on the financial markets. After moving to Gibraltar, he joined the Marex trading graduate scheme. Later, Steve took the opportunity to risk manage some of the best traders in the business at Refco. This was a high-pressure environment where he had to simultaneously monitor all the major markets and up to 40 trading accounts at a time. At one point in the risk room there were 28 screens for two people. He then went on to run the live floor at Schneider, where there were around 144 traders. This was at the height of the prop trading boom. Over this period Steve had unparalleled access to the thoughts and strategies of some of the best traders around. He saw some common traits of success and also, more importantly, failure. Putting all this knowledge to use, Steve's next move was to start trading from home. Then, after a few years of lonely but successful trading, he decided that there was more to life. He decided to turn his hand to education and teamed up with InterTrader (intertrader.com) to become their chief market strategist and head of education. "Those who can, do; those who can't teach," the saying goes. Steve decided to prove he could do both, in real time with real money. Since 2010, Steve has presented nearly 1000 webinars on all aspects of trading and he has traded at over 150 live events, demonstrating how to make money in real market situations. To prove his teaching worked and in preparation for 'The Ruff Guide To Trading', he publicly traded a £5k trading account to £11k in 90 days.

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      Book preview

      The Ruff Guide to Trading - Steve Ruffley

      The Ruff Guide

      to Trading

      Make money in the markets

      By Steve Ruffley

      HARRIMAN HOUSE LTD

      18 College Street

      Petersfield

      Hampshire

      GU31 4AD

      GREAT BRITAIN

      Tel: +44 (0)1730 233870

      Email: contact@harriman-house.com

      Website: www.harriman-house.com

      First published in Great Britain in 2015

      Copyright © Steve Ruffley

      The right of Steve Ruffley to be identified as the Author has been asserted in accordance with the Copyright, Designs and Patents Act 1988.

      Paperback ISBN: 9780857194008

      eBook ISBN: 9780857194985

      British Library Cataloguing in Publication Data

      A CIP catalogue record for this book can be obtained from the British Library.

      All rights reserved; no part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise without the prior written permission of the Publisher. This book may not be lent, resold, hired out or otherwise disposed of by way of trade in any form of binding or cover other than that in which it is published, without the prior written consent of the Publisher.

      No responsibility for loss occasioned to any person or corporate body acting or refraining to act as a result of reading material in this book can be accepted by the Publisher, by the Author, or by the Employer of the Author.

      Dedicated to Arthur Ruffley 1921-2015

      About the Author

      Steve Ruffley has been involved in the finance industry for 15 years. If it’s trading, then I’ve done it, is one of his favourite sayings.

      Steve’s career began placing investments for high net worth clients at PricewaterhouseCoopers. He was quickly hooked on the financial markets. After moving to Gibraltar, he joined the Marex trading graduate scheme.

      Later, Steve took the opportunity to risk manage some of the best traders in the business at Refco. This was a high-pressure environment where he had to simultaneously monitor all the major markets and up to 40 trading accounts at a time. At one point in the risk room there were 28 screens for two people.

      He then went on to run the live floor at Schneider, where there were around 144 traders. This was at the height of the prop trading boom. Over this period Steve had unparalleled access to the thoughts and strategies of some of the best traders around. He saw some common traits of success and also, more importantly, failure. Putting all this knowledge to use, Steve’s next move was to start trading from home. Then, after a few years of lonely but successful trading, he decided that there was more to life.

      He decided to turn his hand to education and teamed up with InterTrader (intertrader.com) to become their chief market strategist and head of education. Those who can, do; those who can’t teach, the saying goes. Steve decided to prove he could do both, in real time with real money.

      Since 2010, Steve has presented nearly 1000 webinars on all aspects of trading and he has traded at over 150 live events, demonstrating how to make money in real market situations. To prove his teaching worked and in preparation for The Ruff Guide To Trading, he publicly traded a £5k trading account to £11k in 90 days.

      Steve has also written software for MetaStock (TraderMaker PRO), MT4 and recently the new trading platform of Tradable (iView Charts). His technical analysis has been quoted by the FT, Bloomberg, Reuters, Wall Street Journal, New York Times and many other publications.

      Preface

      What this book covers

      This book is a no-nonsense approach to the real world of intraday trading from someone who has done pretty much every aspect of it.

      The focus is how to trade the financial markets on an intraday basis. That is, how to make money from short-term moves that happen as part of everyday market activity. Everything in this book relates to trading when the markets are open and identifying short-term trading opportunities.

      I have a fairly simple basic rule for understanding market movement. This is that the markets move 80% of the time due to technical trading and analysis, and that the other 20% of the time moves are due to new fundamental news and data. I will cover the fundamental and technical aspects of trading that are vital in getting the right balance for your trading outlook.

      There’s quite a bit of theory to go through before I get to some practical trading strategies. This is all designed to open your mind to how the markets function and how other traders make money – and therefore how you can make money.

      There is a certain mindset you need to adopt when trading. People often refer to this as trading in the zone. In order to be in the zone you have to first locate the zone and more importantly identify the makeup of your own zone. This is different for different people. You need to understand yourself, other market participants and the trading world in general before you will ever get close to being able to trade in the zone. I’ll guide you towards that mindset.

      Who this book is for

      This book is for anyone who wants to learn the theory and practice behind successful intraday trading. Perhaps you have tried intraday trading before, but you haven’t had the success you wanted. Or maybe you have an interest in trading, but aren’t sure how to get started. My Ruff Guide is for you.

      This is not a book for those who want to get rich quick. If you think this is possible then you will never be able to approach trading the right way, so my ideas are not for you.

      A basic knowledge of technical analysis concepts and terms will be helpful, as I do not go into detail on these. There are many beginner’s books on technical analysis available, as well as free resources on the internet.

      How this book is structured

      The book begins with some high-level theory that you need to know. Unfortunately without understanding this initial chapter, you won’t be able to take your trading further and the rest of the book will be of little use.

      The focus moves on to fundamental and technical perspectives of how the market functions and how you should position your strategies as a trader.

      I will then discuss the importance of having a trading plan, or at least some goals for what you are realistically trying to achieve. Without this you will soon get disillusioned and will not make the best use of your time within the markets.

      From there I move on look at three practical strategies you can use in your own trading. It is important that you follow the book in order – there is nothing to be gained from skipping sections.

      Contents

      About the Author

      Preface

      Introduction

      Part 1. Theory and Understanding

      Chapter 1. Trading FAQs

      Chapter 2. Understanding People and Yourself

      Chapter 3. My 80/20 Rule

      Chapter 4. My 80/20 Rule – Overview of 20% Fundamental

      Chapter 5. My 80/20 Rule – Overview of 80% Technical

      Chapter 6. The Trading Plan

      Chapter 7. The Ruff Guide to Risk

      Part II. Practical Strategies

      Chapter 8. Reversals and Breakouts

      Chapter 9. Identifying Overextended Markets and Trading the Key 50%

      Chapter 10. Gaps

      Conclusion

      iView Charts

      Introduction

      My name is Steve Ruffley. I am a professional trader, risk manager and mentor. I’m not out to prove that I am the world’s best trader. What I am trying to prove is that I can help any level of trader gain that essential trading edge.

      The trading landscape has changed over the years, with more and more people gaining access to the financial markets. What has not changed is the type of people who trade the markets professionally and also the way the markets essentially function.

      Over the last 15 years, I have learnt a lot about all aspects of trading. From trading my own account, risk managing and mentoring traders, to creating software and signals. If you have ever thought about gaining an edge in trading, believe me so have others. The chances are I’ve tried it with varying degrees of success.

      So my advice is to save yourself the time, money and stress it’s taken me to learn the lessons I have. Instead, follow the simple and accessible steps in this book.

      Your aim as a developing trader should be to achieve a high-level understanding of people. People control every aspect of what happens in the world of trading to some degree. Understand people and you will understand the markets.

      Everything you read here is taken from my own experience. If it is in the book it is because it has either made me money or lost me money. The Ruff Guide to Trading is an accumulation of thousands of hours of trading, charting and teaching.

      My methods of teaching traders are to give them the building blocks to establish their own opinions, strategies and confidence. There is no shortcut to learning the art of trading, but the process can be sped up by a good guide and the right approach to learning.

      Let’s get started.

      Part 1.

      Theory and Understanding

      Chapter 1.

      Trading FAQs

      Introduction

      One of the ways I teach

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