Money-Making Candlestick Patterns: Backtested for Proven Results Review

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(More customer reviews)If you are looking for beautiful charts and explanations of how to profit from Candlesticks this is not the book for you. However, if you are looking for how to back-test candlestick patterns programmatically or by any other commercial back testing tools, then this explains how do you go about it and explains step by step. I am programmer/part-time trader who had no clue how to backtest properly before reading this book. This book gave me enough information now to work on my own algorithms and tune my trading system better.

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Candlesticks are one of the most widely used technical tools in trading. Designed to provide detailed, at-a-glance information, these charts are integrated into almost every web site and charting software solution. But, despite their popularity, the definitions of these candlestick patterns are often vague and misleading. Now, for the first time ever, Steve Palmquist hands you the secrets for effectively using candlestick patterns in all market conditions. Data that would take years to compile and years to interpret is now at your fingertips. Based on intensive back testing and research, Money-Making Candlestick Patterns shows how to appropriately use the most popular candlestick patterns in bull, bear, and sideways trends. Built from PROVEN FACTS, not theory, you'll learn: *Clear definitions of each selected pattern to remove guesswork and improve performance *Exactly what you need to know about back testing to increase your wins and minimize your losses *The impact of various market conditions on the most powerful patterns to remove surprises and increase profits *Keys to eliminating common testing mistakes that can prevent you from making money *The candlestick pattern that has shown triple ROI in back testing This book rigorously tests the assumptions inherent in standard candlestick pattern definitions. Each chapter breaks down the pattern to examine how parameters such as current volume, average volume, and price level will impact results. The definitions that most often produce profitable trades are identified and outlined with complete usage instructions for increasing your winning trade percentage. In this book, technician Steve Palmquist hands you his years of research. The information on back testing and the insight into your favorite patterns will give you a seasoned advantage in a fraction of the time. Thorough and efficiently organized, this book will allow you to use candlestick patterns to exploit every move the market makes.

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The Complete Guide to Investing in Short Term Trading: How to Earn High Rates of Returns Safely Review

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(More customer reviews)I'll start off with the positives: this book does give a good basic overview of basic short-term trading timelines and styles, and it frequently reminds the reader of several key rules for trading success (for example, developing a consistent trading methodology that emphasizes discipline over emotion). The profiles of successful traders also provide some pithy advice from people with varying backgrounds and perspectives. That said, after reading through the entire book, I find that it leaves a lot to be desired. My main complaint is that despite its claim to being a "complete guide" to trading, the book only covers fundamental and technical analysis at a very superficial level. Beyond that level, the book's best advice is "buy some trading software and figure it out." While it's true that you ultimately need to practice the concepts yourself to really apply them effectively, a few diagrams or concrete examples in the book would go a long way toward helping readers digest the ideas being discussed. [...]
Bottom line: you can use this book if you are an absolute novice looking for a very high-level overview of analysis principles and trading techniques. Otherwise, I'd recommend looking elsewhere for more detail and sophistication.

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Short-term trading refers to the practice of buying and selling financial instruments within the same trading week or, at most, a few weeks. Short-term traders buy and sell stocks over a few days or weeks in the hope that their stocks will continue climbing in value for the time they own them, making for quick and, often, huge profits. Some of the more commonly traded financial instruments are stocks, stock options, currencies, and futures contracts such as equity index futures, interest rate futures, and commodity futures. Short-term trading was once the preserve of banks, financial firms, and professional investors. Many traders are bank or investment firms employees working in equity investment and fund management. As with many other business segments, the Internet, technology, and legislative changes have opened up this attractive marketplace to a new breed of individual investors and speculators working part-time. You and I can now stand on an even playing field with the largest banks, wealthiest individuals, and trading institutions from the comfort of home. Short-term trading can provide you with very high and secure rate of return as high as 12%, 18%, 24%, or even 300%. If performed correctly, short-term trading can far outpace all other investment techniques. The key is to know how to perform this process correctly. This all sounds great, but what is the catch? There really is none, except you must know what you are doing! This groundbreaking and exhaustively researched new book will provide everything you need to know to get you started generating high-investment returns with low risk from start to finish. In this easy to read and comprehensive new book you will learn how to set up your online account, how to choose the correct software to use in trading, how to get started in short-term trading, how to invest in short-term stocks, evaluate performance, and handle fees and taxes. This book delves into trading tactics for swing trading, position trading, leveraging the stock market, selling short, and pinpointing entry, exits, and targets for your trades. You will pick up the language of a trader so that you recognize candlestick patterns, advancing and declining issues and volume, call options, and put options. You will know how to find the very best stocks every day, how to read and prosper with stock charts, how to use the New York Stock Exchange tick indicator and trading index (TRIN), the Commodity Channel Index (CCI), the moving average convergence/divergence (MACD), the Dow 30-Day Moving Average. As you read this book, the mysteries of short-term trading will unfold so that you can double or even triple your investment all while avoiding the common traps and pitfalls. In addition, we took the extra effort and spent an unprecedented amount of time researching, interviewing, e-mailing, and communicating with hundreds of today s most successful investors. Aside from learning the basics of mutual fund trading you will be privy to their secrets and proven successful ideas. Instruction is great, but advice from experts is even better, and the experts chronicled in this book are earning millions. If you are interested in learning essentially everything there is to know about short-term investing as well as hundreds of hints, tricks, and tips on how to earn enormous profits in short-term investing while controlling your investments, then this book is for you.

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Short-Term Trading in the New Stock Market Review

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(More customer reviews)I read a lot of trading books and have been trading for quite a while. I am always searching for a better book and new ideas. While this book doesn't have any revelations, it does do a wonderful job of reviewing the basics in an easily digestive manner. The author even has some review questions at the end of each chapter to see if you have a good understanding of the material. I particularly like the way the author discusses her stock picks and tells you what she is looking at and her decision process. It helped me ask some different (and better) questions concerning my stock selection before I entered a trade. There are some intermediate level discussions of indicators but very little on system trading (which I am currently researching). All in all an enjoyable book.

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In an uncertain market, can traders and investors find profits in short-term stock movements?Bestselling author and trader Toni Turner teaches readers the techniques and strategies needed to trade in today's up-and-down stock market.The book begins with "Seven Steps to Trading Success," which outlines the logistics needed to establish a trading career.In an upbeat, clear, and lively style, Short-Term Trading for the New Stock Market covers: *The Seven Steps to Trading Success*What the new stock market looks like*How to lower risks and increase gains*How to formulate your own trading business plan*How to analyze market cycles and find profit opportunities*Key Charting fundamentals that reveal buy and sell signals using Trends and Trendlines, Candlesticks, Volume, Momentum Indicators, and other tools for success*Swing Trading, Position Trading, and Selling Short*Introduction to E-mini trading and Forex markets* "Center Points" to find balance and calm in a fast-moving market Short-Term Trading for the New Stock Market is an essential guide for every money-minded trader.

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Stan Weinstein's Secrets For Profiting in Bull and Bear Markets Review

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(More customer reviews)This book has completely changed by perspective on trading or investing (there's a difference). With either one, I believe you will find this book VERY helpful and practical (recognizing breakouts, when to buy, when to sell, cycles of a stock's life, market timing, shorting stocks, establishing safeguards, various order types, etc.).
The book has a heavy emphasis on analyzing charts. This is a major plus, but it's very practical, not numbingly theoretical.
Weinstein is often compared to O'Neil in (momentum) investment style, but I find Weinstein's book much more systematic and well organized than anything I've read by O'Neil. I own 8 books about investing. This is the best, and the only one I go back to continually.
Bottom line: my portfolio has grown 30% in two months using his methodology, and it's kept me from making a LOT of bad decisions.
Don't let the date influence you. Start reading, and you will think he published it this year.

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Stan Weinstein's Secrets For Profiting in Bull and Bear Markets reveals his successful methods for timing investments to produce consistently profitable results.

Topics include:

Stan Weinstein's personal philosophy on investing
The ideal time to buy
Refining the buying process
Knowing when to sell
Selling Short
Using the best long-term indicators to spot Bull and Bear markets

Odds, ends, and profits

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A Beginner's Guide to Short Term Trading: Maximize Your Profits in 3 Days to 3 Weeks Review

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(More customer reviews)She is an excellent author, that's for sure. I have read this one and also her day trading book. The day trading book is better by a mile, even for those wanting a book on swing-trading or position trading.
Essentially what this book amounts to is the swing-trading chapter in her daytrading book expanded with a whole lot of padding. It doesn't really offer any additional insights in my opinion. I can understand the reason for this book from a marketing perspective, but you are much better off reading her day trading book regardless of your trading time-frame.
[...]

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The financial markets have changed considerably since "A Beginner's Guide to Short-Term Trading" was first published in January 2002. The dot.com implosion, a two-year bear market, wars in the Middle East, a burgeoning demand for commodities, and a softening real estate market have all contributed to a tumultuous stock market.The face and operating procedures of the markets have also changed. In 2001, decimalisation altered the time-honoured pricing of stocks in fractions, and gave way to quotations now delivered in one-cent increments. In addition, exciting new trading products have entered the markets. These include the E-minis (mini-versions of stock index futures contracts), and a host of Exchange Traded Funds (ETFs) that offer baskets of stocks (industry groups or country-specific) traded as a single instrument."A Beginner's Guide to Short-Term Trading, 2nd Edition" will include updates on all the current issues affecting the market.

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Dave Landry on Swing Trading Review

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(More customer reviews)First off, let me say that I have made a lot of money using the information in this book as a basis. But I have found that the market has been changing over the past year or two to make the techniques in here less reliable. I have had to work to tune the information in this book to be more suited for today's markets.
Most of the book is based around finding stocks that have a strong uptrend (or downtrend for shorting opportunities) by utilizing the ADX/DMI technical indicators. Then, you look for a recent high and a pullback of a few days. The idea is that these stocks will recover and shoot higher. He gives a bunch of charts showing stocks during the tech boom reaching new highs, pulling back for 3 or 4 days, then shooting up to astronomical heights. He also gives some variations on this same theme, but most are based on the ADX indicator.
While this is a good basis for finding plays, it does not yield many plays these days on a day to day basis. I wrote software to search out the types of price movement he talks about. In any given day, you will find maybe 20-50 (out of 3000 stocks I scan) stocks that loosely fit his criteria. Out of these, there are maybe 10 that match his criteria, and the next day, maybe 1 stock will follow the pattern. But I don't see many at all reaching the high from before the pullback, never mind shooting astronomically higher.
Further, to get anything out of this book, you will need software that is capable of scanning the market. You will never be able to find these plays manually.
Thus, I can recommend this book if you have access to such software or are capable of writing your own software, as I did. If you do, you can tune these techniques and do quite well for yourself. But otherwise, I can't see spending [money]for this book, for the reasons mentioned above.

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No time to day trade? Intermediate-term and long-term trading not enough? Then, swing trading is for you. Now, David Landry, Director of Trading Research for TradingMarkets has put his entire swing trading methodology into one book to teach you how to trade successfully, every day.Dave Landry on Swing Trading takes you from his daily routine to the exact methods David Landry uses day-in and day-out in his own analysis and trading. More than a dozen momentum-based strategies that pinpoint opportunities based on pullbacks and capitalize on false market moves. He also teaches you how to use volatility to select the right stocks and low risk/high reward set-ups. This is a complete manual on swing trading which includes everything the beginner and intermediate trader needs to get started trading quickly.The following sections are included in his book to help you improve your trading results:Trend Qualifiers - Determining which stocks are moving with the general market trend is the first step. Learn how to precisely identify strongly trending stocks. Stock Selection - Making sure that the stocks you have picked exhibit the highest potential to move in your favor is key. David Landry will show you how narrow down your universe to pick the right stocks to trade. Swing Trading Strategies - Once you have your universe of stocks to trade, you can determine which stocks exhibit the highest potential to trigger for a promising move using chart patterns. More than a dozen swing trading strategies presented in an easy-to-read, easy-to-understand format. He provides you with the specific rules for entry and exit so you can start identifying the best trading opportunities immediately. Trading Master Section - To ensure that you understand as much of Dave Landry's methodology as possible, he has included for you dozens of trading examples to help you understand exactly how he trades his strategies and how he reads the market with uncanny accuracy. Stock Market Timing - Now that you have great set-ups, how do you decide which ones have the best chance for follow through? Learn how to use a number of stock market timing techniques to hedge your trades by trading with the probable direction of the market. Money Management - The real holy grail of trading is not contained in a pattern or an oscillator, it is found in your ability to limit losses and maximize gains. An often-neglected yet crucial element of trading is examined by Dave Landry in-depth as he helps you tailor the best stop methodology for your trading style.Trader's Psychology - You have the tools and the right strategies, but do you have the discipline to succeed with the wealth of trading knowledge you have just learned? Finish off your swing trading education with Dave's thoughts on the winning trading methodology.And much, much more!--This text refers to an out of print or unavailable edition of this title.

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Day Trading For Dummies (For Dummies (Lifestyles Paperback)) Review

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(More customer reviews)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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In an ever-changing market, get the advantage of trading for yourself
Day trading is undoubtedly the most exciting way to make your own money. Before you begin, you need three things: patience, nerves of steel, and a well-thumbed copy of Day Trading For Dummies?the low-risk way to find out whether day trading is for you.
This plain-English guide shows you how day trading works, identifies its all-too-numerous pitfalls, and gets you started with an action plan. From classic and renegade strategies to the nitty-gritty of daily trading practices, it gives you the knowledge and confidence you'll need to keep a cool head, manage risk, and make decisions instantly as you buy and sell your positions.
Advice on choosing an online broker
Updated examples reflect current market and economic conditions and the latest information on SEC rules and regulations (and tax laws)
Other titles by Logue: Hedge Funds For Dummies, Socially Responsible Investing For Dummies, and Emerging Markets For Dummies

Read Day Trading For Dummies and get the tips, guidance, and solid foundation you need to succeed in this thrilling, lucrative, and rewarding career!

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Trade Your Way to Financial Freedom Review

Average Reviews:

(More customer reviews)Out of kindness I have chosen to rate this a two-star publication. There are a few, very few, useful statements here for traders.

What else would one expect from a person that does not trade? Merely talking with successful traders does not imbue one with trading wisdom.

Like all of Tharp's work, from what I have seen, the title belies the content. That is, little to no worthwhile content, but a captivating title. Anyone that honestly believes themselves to be credible enough to write a trading book that can deliver "Financial Freedom" that has never traded professionally should not be believed. It would be similar to seeking advice from a homeless person about becoming a billionaire.
Another credibility issue for me with this author is that he is now hawking "No Money Down" and "Get Rich in Real Estate" tapes, books, seminars, etc. I would speculate that Tharp would sell widgets, or, at a minimum, books about widgets, if he believed there was money to be made.
I find it impossible to believe this person could ever be a credible source of information about trading! His trading resume consists of ..., well nothing, except the idea of how to make money by writing words on a subject he knows nothing about.

Many more useful, credible books exist that will help in attaining real financial freedom. Brett Steenbarger is a trader and has produced good material on the psychology of trading, and Mark Douglas, even though he does not trade, has produced more interesting and valuable books.
The most useful advice, read books about trading that are written by traders, and read reviews written by people who trade every day.

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The bestselling holy grail of trading information-now brought completely up to date to give traders an edge in the marketplace

"Sound trading advice and lots of ideas you can use to develop your own trading methodology."-Jack Schwager, author of Market Wizards and The New Market Wizards

This trading masterpiece has been fully updated to address all the concerns of today's market environment. With substantial new material, this second edition features Tharp's new 17-step trading model. Trade Your Way to Financial Freedom also addresses reward to risk multiples, as well as insightful new interviews with top traders, and features updated examples and charts.

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Strategies for Profiting on Every Trade: Simple Lessons for Mastering the Market Review

Average Reviews:

(More customer reviews)Although there are many insightful and terrific lessons to be learned here if you are a Pristine Trained Trader you will recognize the book to be a compilation of Paul Lange's weekly trading lessons. A free weekly service from Pristine. I suspect Mr. Velez' name was added for name recognition and, thus more sales. It is Mr. Lange's book, however, make no mistake. That said Paul Lange is one of the most astute traders and best educators around. I had the pleasure of working with Mr. Lange and was constantly amazed at his trading prowess and his ability to convey the information. It's simply this book offered nothing new.

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Swing Trading For Dummies Review

Average Reviews:

(More customer reviews)I always thought "swing trading" referred to trading with a time horizon of a few days. This author, however, defines it as trading with a time horizon of a few days to a few weeks. So this book is geared to trades that could last a month or long--something I consider outside the realm of short term trading.
In any case, the book is split into five parts: Part 1 discusses the fundamental info (how markets work, what things to look for in a broker and deciding whether to trade using fundamental analysis or technical analysis). What I did appreciate in Part 1 is the author's focus on multi-asset classes and global stocks. Most short term trading books I've read seem to believe that only one asset class exists in the world: U.S. stocks. This one takes a different approach. The author stresses the importance of looking beyond the traditional pale of U.S. stocks and examines international stocks, commodities (via ETFs) and currencies. By expanding your investment universe, you're more likely to find securities with the right characteristics.
Part 2 has three chapters on technical analysis covering (1) charting, (2) indicators and (3) trading ranges or trends. Almost any technician knows how to interpret MACD or Stochastics, but how to use them properly is key. For example, the author stresses the importance of "only going on green". That is, we often find charts or indicators with buy signals but you can only buy the day a signal is actually given.
Part 3 is all about fundamental analysis. I don't use fundamentals that much in my trading so I read this part more with an eye to understand certain concepts. The discussion on debt and leverage was helpful given the current financial mess we're seeing. The author appears to have been right on his call that Marvel was highly leveraged and not worth swing trading on the long side.
Part 4 is perhaps the most important part of the book (and why was it put last?). It discusses risk control, developing a trading plan, using intraday charts and walking through an actual swing trade. By far, the most useful chapter was the managing risk chapter (10) because it covered position sizing, placement of stop loss orders and how to limit losses at the individual stock level and portfolio level. The last two concepts seem to be similar to Alexander Elder's "shark bite" and "piranha bite" concepts.
Part 5 is the "Parts of Tens" which is made up of two "top ten" chapters: Ten simple rules for swing trading and ten deadly sins of swing trading. If you've read Parts 1 through 4, you'll already have covered both top ten lists. The sins include things like starting with too little capital, gambling on earnings dates, trading penny stocks and violating your trading plan.

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Take advantage of price swings in strongly trending securities and pump up your portfolio!
Want to know the strategies of successful swing trading? This friendly guide covers the ins and outs of this risky but profitable investing approach, explaining all the basics in plain English. You'll see how to use the two investment approaches - technical and fundamental analysis - to indentify promising securities in strongly trending markets. In addition, this guide covers how to calculate investment returns and, most important, how to manage your portfolio's risk.
Learn from a highly experienced trader, analyst, and portfolio manager - the author shares his insider knowledge
Understand often overlooked topics such as money management, journal keeping, and strategy planning - key areas that will largely determine your success
Focus on the fundamentals - often overlooked by swing traders, fundamental analysis can increase your chance of success
Determine your entry and exit points with technical analysis - read charts, apply indicators, and compare markets
Evaluate companies with fundamental analysis - grasp the basics of financial statements and the criteria to screen for undervalued or overvalued stocks
Develop and implement your trading plan - outline what you trade and how often, decide your risk tolerance, and calculate your performance

Open the book and find:
The differences among swing trading, day trading, and buy-and-hold investing
The pros and cons of technical and fundamental analysis
A step-by-step anatomy of a trade
A wealth of charts and screenshots
Real-world examples of swing trading successes
The 10 deadly sins of swing trading - avoid at all costs!
Sample trading plans
Useful resources for navigating data

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Short-Term Profit Hunter: Stochastics, Moving Averages and the Mindset to Make You a Winning Trader Review

Average Reviews:

(More customer reviews)Jay's presentation of his refined trading technique was just in time for me. The methodology Jay has evolved which include 3M - Methods, Mindset, and Management are all encompassing the trading business. His methods provide the trader resource enough to begin trading for profit almost from his next trade. I have set up his method and it worked great for me on NIFTY futures on the morning of 3rd Feb 2011.

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A Beginner's Guide to Day Trading Online (2nd edition) Review

Average Reviews:

(More customer reviews)Although there are plenty of reviews on Amazon to help you decide whether or not to buy the book, I wanted to offer my two cents.
As for the positive points of the book, the title is dead on: "A BEGINNERS Guide to Day Trading Online". The book is a great primer that introduces you to the world of day trading, trading jargon and terminology and, although briefly, charting and technical analysis. The book is well written and Toni Turner does a great job of explaining things in layman's terms. I personally thought the book excelled in two areas. First, the book does a good job of introducing the readers to the styles of day trading. Toni explains the time frame and investment goals of classic day trading, swing trading, and scalping. Whenever she introduces a new theory or strategy, she takes the time to show the reader how the newly introduced topic relates to the day trader, the swing trader, and the scalper. Secondly, I appreciate the fact that Toni puts together a point-by-point checklist to help the beginning trader choose a stock. The checklist is by no means perfect and you will definitely want to include/exclude certain criteria when you begin to trade, but instead of aimlessly looking through thousands as stocks after you finish the book, she gives you a good starting point.
Another positive point of the book is the fact that the author includes short quizzes at the end of each chapter to help you absorb the information just presented and a "Center Point" that features a motivational quote and couple of paragraphs of reflection. The "Center Point" motivational speech compliments the authors "Rah-Rah" Cheerleading-type tone and constant overuse of the exclamation point that other reviewers complained about. I really didn't mind the authors cheerleading and enthusiasm, but I can understand how some people were annoyed by it. I would definitely prefer a lively author who is excited about the world of trading than a dry, cold author with no personality.
As for negative factors, I think Toni Turner tends to oversimplify things a bit. You come away feeling as though you're ready to place your first trade after reading the book when you are really only beginning to scratch the surface. The book offers VERY LITTLE technical analysis. Toni never mentions key indicators such as MACD, RSI, ROC, or PSAR. I understand the book is just a primer for beginners and that the aforementioned technical indicators are not necessary for someone who is trying to decide whether or not he/she wants to trade for a living. However, if Ms. Turner is going to suggest you can begin trading after finishing the book, she should at least suggest to the reader that there are other technical indicators to be considered before entering a stock position.
Here is how you should decide if this book is for you or not:
If you are novice who is considering trading part-time or would like a solid introduction to day trading as a full-time profession, this book is for you. WORD OF CAUTION: Do not open up a brokerage account armed solely with the knowledge in this book. You will go broke quickly. I suggest you follow up this book with other books on the subject of trading (Toni gives you a listing at the end) and paper trade for a couple months before you even begin to think about trading with real money.
If you are an advanced-beginner or intermediate trader, this book is not for you. You probably already have a working knowledge of every concept Ms. Turner presents.


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Day trading is highly profitable--and highly tumultuous. Moreover, the financial markets have changed considerably in recent years. Expert author Toni Turner gives you the latest information on mastering the markets, including:
Decimalization of stock prices
New trading products such as E-minis and Exchange Traded Funds (ETFs)
Precision entries and exits

The new breed of traderWritten in an accessible, step-by-step manner, A Beginner's Guide to Day Trading Online, 2nd Edition shows how to day trade stocks in today's market.

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Start Day Trading Now: A Quick and Easy Introduction to Making Money While Managing Your Risk Review

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(More customer reviews)This book is chock full of information that comes at you fast in a great conversational tone. Its easy to understand and a lot of the methods are great to apply to even your long term investment strategy.
Because its a book for beginners, don't expect this to be the end all book for day trading. Keep your education going but this is a great start!

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Electronic Day Trading Made Easy, Revised and Expanded 2nd Edition: Become a Successful Trader Review

Average Reviews:

(More customer reviews)Great writers make complex tasks easy and not vice versa. I read this book, because one of my protégés bought it and asked for my opinion. My background is of a professional futures, options and equity trader for 23 years. Here are my conclusions:
1. The author is trying really hard to show his knowledge by defining almost every little thing in this industry. He over did it and included things he should have not. For example, on page 159 he talks about "Trading Against the Hedge Box" He says clearly in the first sentence that NASDAQ market would no longer allow this type of trading, but he goes on to explain the concept over the next five pages! Why? This is not making things EASY ...
2. The author tries to explain how scalping stocks (trading for 1/8 of a point) is the way to go on 1000 share lots. He sounds just like a graduate of the Online Trading Academy, and I will tell you this doesn't work. You will also find contradicting statements arguing if volatile NASDAQ stocks should be your favorite or trying to scalp the specialist on the NYSE should be the way to go? You can try and scalp the specialist, but let me tell you, the odds are not on your favor, because trying to make a 1/16 buying on the bid and selling on the ask (all day long as the author suggests) works in fantasy land.
3. The coverage of order execution is just completely WRONG! Page 113 "When stock prices are moving up FAST, the SOES buy order is an excellent tool for getting into the market ... if stock prices are declining QUICKLY, the SOES sell order is an excellent tool for getting out of the market quickly. Whoever wrote this statement, never traded a fast moving stock in his life! SOES will be the last place to go. Here is more, page 114, "Getting in the market with the SOES is one of the most common execution methods of day trading" WRONG AGAIN!
4. Level II screens are wrong, they are quoted in 1/32 increments for $50+ stocks. That is not something you will see in real life and it hurts illustrations of S/net orders.
5. Page 148 contains a strategy using Instinet. "A large Instinet BID volume by itself is ALWAYS a positive or bullish indicator." The author fails to tail you about MM and ECN tricks, and headfakes. There is more to it than that!
6. Page 167, "The day trader must have a higher percentage of winning trades than losing trades." In reality, professional traders such as Sunny Harris will say that on the average, out of ten trading days, successful traders will have 6. losing days and 4 winning days.
7. ARCA? One of the best execution vehicles was completely omitted from the book!
I can keep giving more examples, but I think I made my point clear. This book does not offer the TRUTH. If it did the title would be SUCCESSFUL Day Trading Made Easy. It seems to me that the author took the already published books and repackaged them. No real substance, and a guaranteed method to lose all your money.
An important method for making money in the stock market is to FILTER out the noise. I wish the author would have FILTERED out the fluff and fillers out of his book and made it EASY, other than including information that is not correct or irrelevant.
I doubt that the author would be able to show a real life WINNING trading record, based on what is in his book.
Afterall, what do you expect for twenty bucks?
One more thing, I hated the idea that the author will even say that it is possible to get financed by someone else. Page 24, "Hypothetically, the loan money is never at risk." WRONG AGAIN! What happens if you used those 100K to buy 1000 shares of ABC at 100, and the stock was halted intraday and opened for trading at 28? The trader will lose $72,000, but only $10,000 was his equity, who will pay the rest?

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The Nasdaq Trader's Toolkit Review

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(More customer reviews)This is the hardcopy version of the excellent e-book the "Tools of the Trade." Everything you need to know about execution. Including SuperSoes, SelectNet, Soes, all ECN's. It is the best reference manual I've ever seen. Don't know why they decided to publish in paper.,. Author is former market maker, used to head MB Tradings' trade desk. You can see him at all the trade expos -gives talks about execution. Knows his stuff. Wish I had the book when I started trading direct! Would have saved some of lo$$e$ :)

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Nothing has changed the markets more in the last few years than the advent of direct access, the combination of NASDAQ Level II quotes and direct order routing which together enable savvy traders to "hit" bids and offers and go up against the market makers. But just having access to these tools is not enough. Knowing how to use the tools-quickly and expertly-is key. In The NASDAQ Trader's Toolkit, a former market maker reveals the secrets of NASDAQ trading systems.

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Stop Orders: A practical guide to using stop orders for traders and investors Review

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(More customer reviews)The author takes pains to ensure that a small number of very clearly defined concepts are correctly understood. And these concepts are well chosen - if a trader takes the trouble to read this book carefully, their trading will be safer, more responsive and more consistent for it. A modest ambition for a book, maybe, but none the worse for that. Highly recommended.

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A stop order is an essential tool used for money management and risk limitation, but for many investors and traders it is not terribly well understood. The author begins by presenting a thorough survey of the various stops available, including buy and sell stop orders and trailing stop orders. This provides a vital introduction for beginners, and a handy reference guide for those more experienced. Having described these tools, Stop Orders then moves on to examine their practical applications by explaining how to use the different stop order techniques when making your trades in the markets. The book is illustrated throughout with charts for stock indices, individual stocks, commodities and foreign exchange currency pairs to provide a range of real-life examples. This book covers everything you need to know about stop orders and how to make them work for you. Whether you are a trader, an investor, or a spread bettor, you should regard the stop order as essential in helping you lock in your profits and succeed in the markets.

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The Day Trader's Advantage: How to Move from One Winning Position to the Next Review

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(More customer reviews)Because of the author's name and reputation, I was anxious to open this book, read and gain something. Within forty minutes of the read, I found myself skimming through the book to find something with some meat in it. Instead, I found the first 24 pages covering "The Psychology of . . .", "Overcoming the Psychological Barriers . . .", etc., etc. Then we go to 8 pages that touch on "Market Analysis & Day Trading," and then, "The Innergame Trading Approach." Mind you, 8 pages, or a little longer than most forewards. The vast remainder of the book is the author interviewing several well know traders about this and that. The questions are general and as often as not the trader being interviewed rambles on in generalities. My impression of this work is the author was evidently long on positions in the market and decided to write this book while he waited for a price move. Conversely, a book I purchased at the same time,"Trade Your Way to Financial Freedom," by: Van K. Tharp is excellent. This book has something to say and information for anyone to consider or incorporate.

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