Successful trading in the financial markets is not just for the professionals. Individual investors can succeed in the stock and commodities markets just like professional traders do, if they will consistently apply some very basic principles to their market decision-making, says long-time professional trader and trading coach Phil Storer.

In his soon to be released book, Chalk Talks for Traders Easy Xs and Os from a Proven Market Pro, Storer spells out these principles in clear and simple language, and provides the most easy-to-understand explanations available of the essential techniques of technical analysis used by successful traders. Chalk Talks for Traders Easy Xs and Os from a Proven Market Pro, is also full of chapter by chapter four color graphs and charts.

Adopt an Investors Attitude Rather than a Speculators

One of the most important principles for making successful trades, says Storer, is adopting the attitude of an investor, rather than that of a speculator. While both investors and speculators accept risk as a necessary factor for success, investors tend to create a more complete trading plan than do speculators. The result is a smoother ride in the markets for an investor than the roller coaster experience of a speculator.

While investors and speculators may both get their original ideas from trusted but unproven sources (such as friends, acquaintances, a salesperson or the media) speculators tend to respond with unbridled enthusiasm, but investors will not sign on until a plan is worked out, Storer says.

You Need a Well-Constructed Trading Plan

To be a successful trader, you will need to have a well constructed trading plan, says Storer. Without one, you will unnecessarily jeopardize your welfare and create emotional trauma that could completely remove you from the contest.

A well-constructed plan will address such critical aspects of a trading transaction as: at what price to enter the market (entry level); when to buy (timing); the level of tolerable risk; setting a profit objective (money management); and setting a target price.

A trading plan will not guarantee a win, Storer observes. But because of it, the investor will walk away with the ability to take advantage of the next reasonable opportunity. Unfortunately, without a plan, the same cannot be said of the speculator.

Its Easy to Understand

Chalk Talks for Traders Easy Xs and Os from a Proven Market Pro is filled with easy-to-understand explanations of all of the key principles, concepts and technical trading techniques that can help an individual investor to master the trading disciplines used by successful professionals. Key chapter subjects include: Planning the Trade; Building a Checklist; Reading Momentum; Maximizing Reversals; Swing Trading; Shadow Trading; Band Running; and Calculating Risk vs. Reward. A key feature, the large-size, easy-to-read-and-understand technical analysis charts are perhaps the most easily accessible in the industry today.

Chalk Talks for Traders Easy Xs and Os from a Proven Market Pro is based on the accumulated experience of Storer, who has been a professional trader and trading coach for nearly 40 years. Most of Storers efforts have concentrated on commodity futures although he is also very experienced in stocks. His basic approach to trading is to use technical indicators with a watchful eye trained on the fundamentals that drive the markets. Storer is an expert at predicting the direction as well as the duration in time and distance that markets travel. His trading methods are consistently simple and contain a high degree of reliability because they are designed to fit a working environment. Storer is the director of trading for the commodity division of Dillon Gage Inc. a full service brokerage firm based in Dallas, Texas.

www.chalktalksfortraders.com/.