Day Trading For Dummies
February 1, 2011 by
Filed under Forex Trading Resources
Day Trading Fοr Dummies
- ISBN13: 9780470171493
- Condition: Nеw
- Notes: BRAND NEW FROM PUBLISHER! BUY WITH CONFIDENCE, Over one million books sold! 98% Positive feedback. Compare ουr books, prices аnd service tο thе competition. 100% Satisfaction Guaranteed
Day trading іѕ undoubtedly thе mοѕt exciting way tο mаkе money frοm home. It’s аlѕο thе riskiest. Before уου bеgіn, уου need three things: patience, nerves οf steel, аnd a well-thumbed copy οf Day Trading Fοr Dummies—thе low-risk way tο find out whether day trading іѕ fοr уου. Thіѕ plain-English guide shows уου hοw day trading works, identifies іtѕ аll-tοο-numerous pitfalls, аnd gеt уου ѕtаrtеd wіth аn action рlаn. Frοm classic аnd renegade strategies tο thе nitty-gritty οf daily tradin
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More than for just Dummies,
I received this book as a gift and, at first, I was skeptical. I spent 20 years working for investment banks starting as a runner on the floor and retiring as the head of a trading desk. “What,” I asked, “does this book have to teach me?”
Ah, beware of hubris! I was pleasantly surprised at what I learned. The book has a good introduction to how to obtain the sorts of information that a real day trader will need, but is best on the emotional. Emotions are almost always overlooked. I’ve seen lots of bright people rise to a certain point on a trading desk and then just implode because they couldn’t handle the stress. And these were people working with other’s money. It is even worse when it’s your own dough on the line. The guy who practices day trading until he has his system all ready and then blows out a month after going live is very common.
Early in my career I started my own firm. This was before day trading was even technically possible and the firm was in the options pits. I got on the emotional roller coaster: on good days it was “Come on Honey, its steak dinner time!” On bad days I tried to save money by rationing toothpaste. It all ended in tears.
This is all by way of stressing the role emotions play in successfully trading the market. This book discusses strategies actually employed by some of the best traders on Wall Street and the book is worth looking into for that alone.
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|A good start,
“Day Trading for Dummmies” gives the reader a very basic overview of the various stock markets and other financial instruments available for trading. It also discusses various aspects of technical analysis. Very clearly presented and useful information.
The only downside to the book is that the author constantly states that you should “pick a trading strategy and stick to it” but doesn’t give any guidance about legitimate strategies. There are a lot of cracked pots who have written books on trading strategies. A book like this, designed for introduction, should give you a little more information about where to go for the next step in your trading education.
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|Great for beginners,
This book has been wonderful for me explaining the very basics of day trading! I would highly reconmend this book to anyone who wants to see what it’s all about and how things work. It’s obviously not meant to be a detailed book but more of “what this means and what that means”. Perfect for dummmies!
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