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DAY TRADING BOOKS

Posted in Day Trading (Tuesday, October 7, 2008)

Written by Capra and Greg. By Marketplace Books. The regular list price is $29.95. Sells new for $28.33. There are some available for $33.48.
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3 comments about Intra-Day Trading Tactics Course Book With DVD (Trade Secrets Course Books).
  1. The text has not been edited well, some statement are rather confusing.

    Typos add to the confusion.


  2. The contents of the book are good. There is lot to be desired in the DVD.
    The videographer is terrible. When the author is talking of a particular bar with his Laser pointed on it, the camera is on a wide angle showing a little chart and the auther. He should have shown a larger image of the chart so that we know what bar the author is talking about.


  3. It was supposed to be in my home on 22 March and I haven't received yet.


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Posted in Day Trading (Tuesday, October 7, 2008)

Written by Christopher A. Farrell. By Collins Business. The regular list price is $29.00. Sells new for $10.99. There are some available for $4.32.
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5 comments about The Day Trader's Survival Guide: How to Be Consistently Profitable in Short-Term Markets.
  1. The first thing I look at when I pick up a trading book is when it was published. Pick this one up--"Copyright 2000." That immediately sets off a siren in my head, and warns me to take everything in the book with a substantial amount of salt. Anyone can write a book on how to successfully invest in a market where everything is hot--if you don't believe me, do a search of real estate investment books and see how many of them are older than the current boom. When everyone's an expert--well, just be careful. Couple that with the fact that this guy's website is gone--I've read up a little on him and it would appear he's no longer trading--and caution is definitely warranted.

    That having been said, I was able to glean from this work some important information, and certainly picked up a couple tidbits that I've found useful. This was one of the first daytrading books I ever read, and I think it has its merits for a strict novice. Farrell's sections on NASDAQ level II were insightful as were his thoughts on trading NASDAQ vs. NYSE stocks. His rants on the evil nature of "market makers" and how they're out to get individual daytraders is probably overblown but certainly worth thinking about. And though most of us will never move the kind of capital around required to "scalp trade" (meaning you trade a huge position and hope for a razor-thin margin), I found the technique interesting.

    In short, I wouldn't use this book as a basis for a trading strategy, and would keep in mind the fact that most of these techniques are outdated. Look, for example, at the other reviews of this book--the most recent ones rate this book much lower than those written in the heyday era (or even shortly after). I do believe, though, in assimilating useful information wherever it is found, and that having been said I'd recommend this book for a casual read, not to be taken too seriously and keeping in mind that the value of the author's opinions are very limited. If anything, view it as a daytrading history lesson, and learn from the mistakes of the past.


  2. If you want to buy the book, go ahead, just be careful of superbookdeals, they take your money but don't deliver and don't answer emails. Caveat Emptor.


  3. This book was very good back in it's day. I think the author should publish a revized edition with more up to date strategies.

    When trading short term one needs to realize that the stock market can present us with a lot of hot stocks every day.

    Most of them may seem promising, but the truth is that a good number of these trading & investing opportunities might not be as profitable as one might think. That's why it's very important to know how to choose them especially if you plan to take advantage of them on a daily or weekly basis.

    One site that I recommend is MomentumStockTrading com. They have a pretty clear way for trading hot stocks with momentum using easy to understand strategies. This is also a place where you can learn why knowing how to manage the stock rally is critical to your success.


  4. This book is honest, that's why I give it five stars. Unless the basic principle of Farrell's trading, the ability to get in front of the market makers, changed, the principles of this book should stand. The fact that the book is boring and unexciting indicates to me that the author is a trader, not marketer of his trading system.

    Most exciting approaches in trading don't work. Good trading is boring (and often frustrating). So is trading approach described in this book. You are advised to trade static, non-moving stocks and make money on the double, joining the market makers. That's it. This strategy allows good risk control. And instead of day trading this method (I think) may be used for low maintenance trading too.

    This method is not based on technical analysis, the feeding pot for many authors writing trading books. No new indicators or just discovered rules. Totally different approach. That's why it may work.


  5. First book I read on day trading, explains the games other traders are playing to help you identify what is happening in a stock as you watch it intraday.
    Very insightful on institutional price manipulation, how we as the little fish can get on the right side of the smart money and swim with them to quick profits.
    Good info not commonly shared or explained as well as this.


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Posted in Day Trading (Tuesday, October 7, 2008)

Written by Jeff Cooper. By Marketplace Books. The regular list price is $29.95. Sells new for $28.45. There are some available for $24.98.
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4 comments about Intra-Day Trading Strategies Course Book with DVD: Proven Steps to Trading Profits (Trade Secrets Course Books).
  1. I can not believe someone would write a book on intra-day trading that is only 100 pages, double spaced, and with charts that are literally scribbled on. Mr. Cooper's trading strategy is based 100% on pattern recognition, he does not use indicators at all! His whole theory on when to buy a stock is to wait for the break-out! That is it! He even has cute names for everyday patterns, he calls a simple consolidation a "Cooper 1-2-3 Pullback Position." What does he think he is the first person to ever realize a consolidation during an up-trend is a great time to buy???

    I was planning on buying his other Hit and Run Trading book, but I think I'll pass.

    I did learn something from reading this book, I could actually write my own book on trading. Sure, I know what a trend line is and I know a low-risk trade is to buy the break-out. Well, that is what Mr. Cooper must of thought when he got the idea to write this book.


  2. Not good at all. Bad writing, so boring to read. The name intra-day trading does not fit as he does not talk much about intra-day trading. Save your money, when I ordered this book from Amazon there weren't any reviews which was unfortunate. Plus after each chapter there are questions but you have to go to a website and register (so they could sell you other books) to find the answers. I thought that was disturbing after paying for the book.


  3. This book was a very boring and hard to follow book. I didn't get anything of value from reading this simply because I feel it was a very hard to follow book. If your looking to understand daytrading this is not the books for you. I have read many daytrading books and this one would be last on my list to re-again.


  4. Well, as David Nassar said: "The market's simplicity is it's greatest disguise". I saw the negative reviews here and suspect some people don't see the logic behind trade setups from people like Oliver Velez, Tony Oz, Jeff Cooper, Dave Landry, Josh Lukeman or John Carter. In the book "Profit Strategies: Unlocking Trading Performance with Money Management" David Stendahl describes how he tested systems by adding more money to losing trades (drawdown support) and winning trades (pyramiding). I thought these were very interesting ideas to improve trading performance but was faced with the problem of determining how and when I would do the drawdown support and pyramiding. Then I wondered what would happen if I could take an uptrend for example and divide it in sections that I could trade individually. How would I trade each section of an uptrend? Then I discovered the whole world of trade setups by the people I just mentioned. These kinds of books I find are absolutely essential in solving that problem. I'd also like to mention that Oliver Velez has a new book (Power Trading:...) that comes with a DVD as well that describes trading styles for 3 different time periods.


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Posted in Day Trading (Tuesday, October 7, 2008)

Written by Martin J. Pring. By McGraw-Hill. The regular list price is $49.95. Sells new for $25.95. There are some available for $20.65.
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4 comments about Technician's Guide to Day and Swing Trading.
  1. Whatever one thinks of technical analysis, even a died-in-the-wool fundamental and value investor trembles at the thought of going against the famous "head-and-shoulders" pattern. This book will give you an excellent background in the basics without overwhelming you with a lot of technical detail. The book discusses everything from moving averages and Bollinger Bands to oscillators such as relative strength, MACD (moving average convergence-divergence), ROC (rate of change), the parabolic indicator, and Pring's own proprietary KST indicator, and so on. Also, the included CD contains a four-hour video presentation on the most important topics. Pring says in the introduction that, in contrast to most CDs in books, which are throw-aways, the CD is actually the most important thing and the book is the "throw-away." In any case, there is a lot of value and information here between the book and the CD and overall this is a fine book to get you to the next level in terms of your trading expertise.


  2. The "Technician's Guide To Day & Swing Trading" by Martin J. Pring has a great CD presentation. The CD presentation covers the same information in the book chapter by chapter. I found the CD presentation much easier to understand than reading the book.

    The book combines technical indicators with tips for day and swing trading under different market conditions. Overall, I would highly recommend this combination book and CD to anyone that wants to make money in the stock market. From my own experience, the material sets reasonable expectations and does not make false claims on making easy money in the stock market over a sustained period of time.



  3. Over the years, his name has become synonymous with technical analysis, and this book is not a disappointment. I put Mr. Pring up there in the same category as Larry Connors ("How Markets Really Work") and William O'Neil ("How to Make Money in Stocks").


  4. It still amazes me that people like Pring can sell books and seminars to so many gullibles, given these "experts" probably never made a penny from actual trading.


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Posted in Day Trading (Tuesday, October 7, 2008)

Written by DeMark Tom Jr. By McGraw-Hill. The regular list price is $49.95. Sells new for $57.00. There are some available for $58.45.
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5 comments about DeMark On Day Trading Options.
  1. Prior to xmas and on my birthday I received a copy of DeMark's 'New Science of Technical Analysis'. I have been a professional trader for over 20 years and currently head up the trading operation at one of the major Wall Street firms. I thought I knew how market operateed and I shared my expereince on TV, radio, and in newspapers for years. Upon reading this book and as well ass the other two in the DeMark set, I have gained a profound new awareness how markets truly behave. The author is beyoind peer in defining and describing the intricacies of price behavior. What an enlightening series of reads.


  2. My trading partner introduced me to the author's work. He told me that the author had worked closely with Paul Tudor Jones, Leon Cooperman, Steve Cohen and other industry titans. To be associated with these guys, he had to have something of value. After reading his books, my conclusion is that he truly possesses a creativity and market awareness that is unmatched in the industry. Although the ideas he presents can be profitably applied, I am certain that he does not share everything he knows with the reader. Regardless something is better than nothing.


  3. You may want to think twice about this one. Not to be negative, but it is very hard to follow. Clear and concise dialog is absent in favor of unnecessary "branding" if you will of common techniques mixed with completely unverified and difficult to back test methods for trading the markets. This is trading celebrity gone wrong. I would love to know the remaining balance of an investment account traded with these "TDious" indicators. You can at least save yourself from this trade.


  4. The previous reviewer cites the perception of the author's inflated ego. I too was distracted by the author's tendency to refer to "TD" indicator this and that and this disturbed me. However, i had the good fortune to meet the author at a Bloomberg seminar and the author explained why he chose to preface his indicators with the 'td'. The justification he gave was that his attorney wanted him to trademark and control the indicators and that was the effective way for him to accomplish that goal. I accept that reason and more than that I can overlook the petty complaint that it is distracting by concentrating upon the value I find in the indicators. I say call them whatever the author wants to since bottom line they are the best I have seen in my 35+ years in the industry.


  5. I am a fan of Demark's indicators if you or I can ever get them. His indicators are only given to high dollar companies like reuters. My reading of this book was a painful process of trying to understand a indicator I cannot even use in trial applications. IT is clear that Demark has left his loyal following to make up bargin basement Metatrader indicator rejects. Like most in this business.....business comes first. I rank this has a 3 and the only reason it got a three was because of the quality of the work. Demark is really only valued by the traders who honestly don't need him to trade like myself. If I was a rookie and pick up one of his books I would not trade the markets because of the over don't explanation and indicators I could not follow. Do not read the reviews folks. They seem real suspect. Make a simple explanation book Demark and make your real indicators available.


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Posted in Day Trading (Tuesday, October 7, 2008)

Written by Christos M. Cotsakos. By Collins. The regular list price is $16.00. Sells new for $1.25. There are some available for $0.01.
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5 comments about It's Your Money: The E*TRADE Step-by-Step Guide to Online Investing.
  1. I can't believe how people criticize Chritos Cotsakos. Sayingthat this book was just for publicity is ridiculous. I was surprisedwhile reading this great book how he did mention other competitors ofhis. This is a quote from his book, "At this point you probablythink I'm going to tell you to go directly to [Etrade] and sign up foran account with Etrade. Even though I am very, very proud of what wehave accomplished, I'm not going to do that. The whole point of thisbook is to empower you. The worst thing you can do when managing ourown money is to blindly follow someone else's advice-no matter whoseit is. If I thought that was a good idea, I wouldn't have bothered towrite this book. Managing your own money online is a way of takingcontrol of your actions, your research, your information, yourdecisions, and your own account. It's not a form of gambling. Makingfinancial decisions without knowing what you're doing is a form ofgambling. Instead of telling you what to do, I'm going to give yousome guidelines to help you select the best possible financial serviceprovider, and then set you loose on the Internet to make the rightdecision-for yourself. So, how do you evaluate and choose a goodfinancial service provider? Start with what I call 'the six Ss':security, speed, simplicity, service, sharing, and scalability. Thebest financial service providers do all of these very well." Nowof course he does mention how great Etrade is but if it was my book, Iwould to. Anyways, the book is great for almost anyone. The book ispretty simple in the beginning, but it helps later on in the book. Thechapters are as follow:

    Welcome to the Revolution

    Step I: GetReady Chapter 1: Your Financial Future Is Online

    Step II: Get Set,Get Online Chapter 2: Turn On, Tune In Chapter 3: Get Your ModemRunning Chapter 4: Make It a Good One Chapter 5: Open Your AccountToday Chapter 6: Know Where You're Going

    Step III: Meet the StreetChapter 7: Start with Stocks Chapter 8: Bonds. TreasuryBonds. Corporate Bonds. Municipal Bonds. Chapter 9: Funds, Funds,Funds Chapter 10: Where to Stash Some Cash Chapter 11: KnowThyself

    Stop! (the stop just tells you to go back and make sure youunderstand everything said) Go! (just says go ahead and read)

    StepIV: You've Got the Power Chapter 12: Online Stock Investing Chapter13: Online Bond Investing Chapter 14: Online Mutual FundInvesting

    Chapter 15: Keeping Track

    Step V: High Gear Chapter 16:Your Options Chapter 17: Stock Investing 2.0 Chapter 18: Let's TalkTrends Chapter 19: IPO's and More Advanced Stuff

    Talking the Talk (auseful glossary of terms) Bibliography & e-contact sites Stay inTouch (contact information) Acknowledgements About the Author Index

    This book is great for most people and he just explains how to readstock information and what everything means. It's not an equation ofhow to find the next Wal-Mart or Cisco. I don't know how people saythat this book won't help you at all.



  2. This book gives you the nuts and bolts about trading and investing on E*Trade. It also covers investment tips and references to use, such as margin trading. The book does not tell you what to invest in but how to manage your own money. Great starter book for E*Trade investers and investors who think they know what they are doing but do not.


  3. This book was completely unfulfilling. It's hard to imagine a book that could be less useful for investors. Perhaps Costakos assumes that his potential customers are simpletons who don't know how the Internet works. Even so, his consistent proselytizing for his own online brokerage will annoy both neophytes and experienced traders alike.


  4. As others have stated the book is little more than a 200 page advertisement for e-trade.

    I read the book because I know very little about investing in the stock market and I would like to learn.

    Even as god awful new to the stock market I am, I learned almost nothing from the book. Many of his descriptions of the way things are "Why do companies go public?" were oversimplified to the point of being wrong.

    I went into the book with a bunch of questions and left will all of the same questions.

    At best the only thing the book does is convince you to invest money in the stock market through E-trade.

    If you are going to trade online, the $13 per trade commission E-Trade charges you is much higher than the $7/trade rate offered by Scottrade, or the $10/trade Ameritrade offers but you won't find that in the book.

    If you want to learn about the stock market, I would recommend instead Jim Cramer's 'Mad Money' or 'Sane Investing in an Insane World'.

    If you managed to make it here to read this review then it is a fair bet you already know everything 'It's Your Money' has to say. The book is really that worthless.


  5. I just received this book in the mail and opened it up. I am a little disappointed the book I received is a "First Edition" where the copyright is 2000. If I understand this correctly, the information in the book is "as of the 2000"; eight years ago.

    I bought this intending to use it along with my recently opened E*Trade account. I now expect there to be significant differences between what the book is showing and what the current E*Trade website looks like. If the book is just sticking to the fundamentals this will probably turn out just fine; time will tell.

    I wish I had been able to tell the year when the book was published before the decision was made to purchase but that is information that needs to be added to the Amazon website and not a criticism of this specific book.


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Posted in Day Trading (Tuesday, October 7, 2008)

Written by Peter J. Sander. By Alpha. The regular list price is $19.95. Sells new for $8.29. There are some available for $3.20.
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5 comments about The Complete Idiot's Guide to Daytrading Like a Pro, 2nd Edition (The Complete Idiot's Guide).
  1. Sorry, but this book appears to have been written by a wanna be writer whose style---if you can call it that---is so blatantly irritating, condescending, and ridiculous that its facetiouseness distracts from any worth the book might otherwise provide which is minimal at best. Almost every paragraph contains a silly lead in to the next as if the writer is trying to hold your hand and help you 'get through' the material. Stuff like, 'ok, we're almost there now!' and 'I know you probably want to get right to the good stuff, but first, let's get a few of the harder points over with!....' Still with me? Both the writer and publisher should be pilloried for presuming the public is THAT dumb. You guessed it: don't buy this rubbish. And while we're at it, probably the only other book that's just as bad as this one for silliness is Toni Turner's.


  2. If your stock market experience is limited, this book will serve as a good introduction. The material is basic and presented in an easily understood format.


  3. This particular book is fine as a general reference on the stock market, but frankly beginners will need more concrete and to the point strategies to make it as online stock traders.

    The reality is that the stock market doesn't care if you are a beginner. It will gladly take your money away if you don't know what your doing. So the bottom line is, you better be PREPARED before you even think about making your first trade.

    Stock trading is a very competitive field and in order to succeed you need to FOCUS on a set of simple strategies that you can implement without hesitation.

    This game is all about buying and selling according to your set ups. So the clearer your set ups are, the easier for you can be to make a profitable decision.

    Hopefully some sites on the web do offer more relevant and updated stock trading information. One of those sites is Sharp Trades ( SharpTrades com )

    They focus mainly on short term momentum stock trading strategies, that in my opinion are easier to implement than many other technical systems outhere.

    Stock trading doesn't have to be complicated as many people perceive. But you do need to follow a well organized set of rules and tactics, that once you master them, you can aspire to replicate profitable trades with consistency.


  4. New edition just out. More sensible approach, and updated. Definitely worth the money, especially for new traders.


  5. Recently I decided to try short-term trading. Soon I realise that I need to learn more. What is going on behind bid/ask postings, how to read and interpret Level II quotes, what is Naqdaq TotalView, what advance platforms are available today, etc? So I went to local bookstore and browsed through the section. Didn't find anything satisfactory so bought this book as a temporary solution. After an hour of reading I decided to write my first book review on Amazon.com. This is simply the best book I could hope to find on the subject: precise, structured, brief yet informative, state-of-the-art information. Excellent book overall. I highly recommend this book for beginners and may be even more experienced traders that didn't keep up with the latest advances. My only complain is that the indexing is not detail enough.


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Posted in Day Trading (Tuesday, October 7, 2008)

Written by George West. By McGraw-Hill. The regular list price is $18.95. Sells new for $1.32. There are some available for $2.95.
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5 comments about The Electronic Day Trader: Successful Strategies for On-line Trading.
  1. This book is essentially obsolete just three years after its publication. Stocks are now traded in decimals, and the spreads on heavily traded stocks are now almost nonexistent, sometimes being less than one cent a share. Consequently, you can forget about any of the strategies or information regarding "pocketing the spread", "getting between the spread", etc. With the proliferation of ECN trading, the influence of the market makers in a stock has been markedly reduced. In a stock that trades 80 million shares per day, a market maker with a 100,000 share block is not going to be able to move the stock significantly, and ECN trading can overwhelm his influence. Likewise, information gleaned from the Level II screen, while still useful if one knows what to look for, is no longer the Holy Grail. Also, day trading firms, like the authors' "Broadway Trading" are on the way to extinction, now that some big online brokers offer direct-access trades for less than a quarter of what day trading firms charge, as well as offering free Level II quotes and other information not available to the day trading firms.

    While the book contains a few nuggets of trading info, it was not written in a logical, easy to follow manner. As has always been the case, aspiring traders need to study the markets intensely and develop their own trading techniques; they cannot expect that any book will teach them how to be successful in a field where very few people ever succeed.



  2. good book , nice condition


  3. This book completely fails to realistically convey the relative risks and profit potential for the average wannabe day trader. Im talking about someone with less than a few thousand to play the market. Unless you have big bucks and Level II quotes forget day trading unless you are very lucky. In the trading parlance, I wish I had a short position on this book at its current price, and could cover my short at the current used price! Save your money.


  4. They went bankrupt, which is where you would be if you followed West and Friedfertig's methods. The book was a copy of Jack Schwager's Market Wizards series, due to the interviews conducted with "traders". You would be amazed if you saw some of these people and didnt read their words in print. Somehow they would not come off so sharp. Trust me!

    Also do you think our authors would be able to spot "managerial talent" over a few aspiring proprietory traders? No they hire guys who have previously filed bankruptcy in their past and pipe up their accomplishments, which are a joke when you realized they bailed on creditors!!

    Save yourself a dime and avoid it-if someone gives it to you, and you can't return it, use to start the BBQ grill. I could go on and on about SEC/NASD violation, getting short on a downtick, etc but I wont!



  5. There are some good ideas that you can rescue from this book. Therefore I think you should buy it since you can make much more money and certainly recoup your small investment if you employ 2 o 3 good tips.

    Any way, from my point of view a trader must always read as much as he can. There is simply no other way to prepare one self for this difficult yet incredibly rewarding activity, but to learn and put into practice as much ideas as you can, at least by paper trading first.

    The are a lot of books on the subject, however many of them where written 2 o 4 years ago and that kind of makes them obsolete in this constantly changing field.

    The internet offers great places where you can learn more specialized trading techniques. One of those places that I have found to be worthy is ProfitableStockmarket dotcom.

    They focus mainly on momentum trading and employ a rather simple yet effective strategy. I think that for a trader to survive and be profitable, its neccessary to keep their trading as simple as possible. To much confussion and technical indicators will most of the time make you slow in your decisions and froze you up when a good opportunity is right in front of you.

    In the end it's all about buying or selling with out hesitation, and doing it over an over again according to your set ups.


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Posted in Day Trading (Tuesday, October 7, 2008)

Written by Van K. Tharp and Brian June. By McGraw-Hill. The regular list price is $34.95. Sells new for $17.20. There are some available for $12.99.
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5 comments about Financial Freedom Through Electronic Day Trading.
  1. My trading coach recommended this book to me so I could better write my trading and business plan for my trading business. After studying and applying the books material I was able to format a proven and tested plan. I later met with my trading coach to review my plan and he said it was one of the best plans he has seen. Thanks to this book I am able to sucessfully maintain a trading career.


  2. In his follow up to his first book 'Trade Your Way to Financial Freedom' Van K Tharp expands on some of the ideas presented specifically in the realm of trading electronically.

    Though not as revolutionary as his first book, this one is still packed with 'not found elsewhere' useful information for both beginning and experienced traders. Treat it as a supplement to his first book and you will learn something useful.


  3. I would recommend the book to stock traders,but also if you're trading futures -as in my case- the book is worthwhile as a blueprint for devising business and trading plans. Mind you, the advice given in the book about equipment, software and hardware is already obsolete since the book was written a few years ago.


  4. This book was a great addition to the other books I have read about trading for a living. While Gary Smith's book was his actual trading process and Alexander Elder's covered the psychological dynamics of creating a system, this book really got into the technical dynamics of risk and expectancy with formulas and excellent explanations of how to be profitable based on your amount of trades/risk/expectancy.

    The six key elements you will understand for making money in the market from this book are:
    1. System reliability
    2. reward to risk ratio
    3. cost of trading
    4. Your trading opportunity level
    5. What you can do based on the size of your equity
    6. Your position sizing algorithm

    This is a more technical read than other books and comes across very tedious at times, but I found it well worth the effort for the added insights I received.


  5. This book contains a wealth of information - I strongly recommend it! The content is excellent, and the writing style is understandable and candid. Brian June not only discusses the nuts-and-bolts of day-trading (Level II screens, time-and-sales data, 'ax' market makers, direct-access systems, trading strategies) but covers in detail how one should prepare prior to the market opening and how one needs to debrief trading after the close. Dr. Van Tharp covers two of the most important concepts of trading: risk management (i.e., capital preservation) and money management (i.e., position sizing). If you have not internalized these concepts into your belief system already read these chapters, memorize them. They are key disciplines as they will keep you in the game.


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Posted in Day Trading (Tuesday, October 7, 2008)

Written by Markus Heitkoetter. By BookSurge Publishing. The regular list price is $15.99. Sells new for $15.94.
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5 comments about The Complete Guide to Day Trading: A Practical Manual From a Professional Day Trading Coach.
  1. Day trading is a potentially rewarding but also quite risky profession. Many day traders jump into their new career role with both feet, but they don't succeed and often quit as quickly as they started. They either end up losing money or they make so little that they cannot leave their day job and work exclusively as a day trader.

    Lack of education, lack of discipline, and other factors are among the reasons many people don't succeed when they attempt to make a living as a day trader and this is where The Complete Guide to Day Trading can help. This book explains the do's and don'ts of the profession and it includes graphic illustrations that help explain how to spot trends, how to know the right timing for buying and selling, and how to realize when the time is right to get out of a specific investment and move on to the next.

    Day Trading requires discipline, education, timing, and planning. These areas, and others like them, are emphasized over and over again in this book because anyone who is lacking in any of these areas is almost certain to fail. For example, one of the most common mistakes made in day trading is not having the discipline to quit while you're ahead. A person will be trading away and will have made a decent amount of money for the day. But because market conditions are favorable and the money is looking good, the day trader will suddenly feel a surge of greed and want to continue trading. Sometimes, more money will be made but more often than not, the gains from earlier in the day will be wiped out, resulting in no positive cash flow for the day. On the opposite end, the same occurrence is commonplace. A day trader might be having a bad day with losses of a few hundred dollars. Instead of quitting for the day and hoping for a better tomorrow, the day trader will suddenly increase the amount of his/her investments in an effort to gain back what was lost. Panic can then result, leading to even greater losses. This is why discipline and planning are so important. The day trader needs to set a goal for daily earnings and then stick to that goal, resisting the temptation to continue trading.

    Besides the advice on attitude, education, and the like, The Complete Guide to Day Trading is also very practical about the science of day trading and it includes many graphic illustrations to help day traders learn how markets work. This is very valuable information and these graphs and the accompanying text rank amount the most helpful parts of the entire guide. Many individuals may have sufficient education, discipline, and planning strategies, but they may have little knowledge about the actual tracking of stock options, futures contracts, foreign currency, etc. This book offers a quick overview of these different investments and how they work, followed by actual graphic illustrations that indicate the pricing trends for a specific commodity or financial security on a given day. Using these illustrations, the book indicates precise ways to spot trends and the exact moment to buy and sell.

    Day trading should never be viewed as a get rich quick scheme and I like that the author doesn't promote day trading in this manner. I also like the way he includes evaluations of different software products for tracking pricing changes throughout the day and I like his lists of helpful hints and principles for day trading. Some of the educational material on stock options, futures contracts, etc., isn't as thorough as it could be, but the approach of this book is very practical and hands- on, and it serves as an effective resource for someone considering day trading as a full or part time profession.


  2. The book is definitely insightful. I am happy that I purchased it. I do believe if I had a better understanding of the trading world then maybe the information would resignate more.


  3. Day trading is not easy, and this book does a great job in "keeping it simple." The book explains how to always go for singles consistently, not the home run everyone wants. Also, good traders have a plan, and they are disciplined toward it. Traders without a plan are just gamblers. This book is so to the point, and for $15.95, you cannot afford to not have this book! 5 stars!


  4. I have had high hopes for this book based on good reviews. I admit, I slacked off and didn't check the reviewers as I normally do. For me this book was a disappointment - regurgitated and repackaged information for the beginners that you can find free on the internet.

    Markus Heitkoetter of Rockwell Trading sells day trading seminars that are priced in middle four-digits. You always have to do your due diligence, whether it is a $15 book or a four-digit seminar. Otherwise you risk to buy an inferior product. In case of trading, always do research online in depth or ask the vendor to provide the track record. If any teacher cannot provide a successful track record in their field - run. Buyers beware!!!


  5. The book can be useful for an absolute beginner but it lacks the depth and substance in a lot of areas. Another warning sign is that that the book is published by writer himself, maybe that explains the underlying reason for it.


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Intra-Day Trading Tactics Course Book With DVD (Trade Secrets Course Books)
The Day Trader's Survival Guide: How to Be Consistently Profitable in Short-Term Markets
Intra-Day Trading Strategies Course Book with DVD: Proven Steps to Trading Profits (Trade Secrets Course Books)
Technician's Guide to Day and Swing Trading
DeMark On Day Trading Options
It's Your Money: The E*TRADE Step-by-Step Guide to Online Investing
The Complete Idiot's Guide to Daytrading Like a Pro, 2nd Edition (The Complete Idiot's Guide)
The Electronic Day Trader: Successful Strategies for On-line Trading
Financial Freedom Through Electronic Day Trading
The Complete Guide to Day Trading: A Practical Manual From a Professional Day Trading Coach

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Last updated: Tue Oct 7 12:23:47 EDT 2008