Day Trade Part-Time Review

Average Reviews:

(More customer reviews)When John and I started trading, we found such a confusing mess of information that we had a very difficult time getting started. And it was an expensive time because we had no clear direction or path to take. We wrote this book to serve as a mentor to people who want to give day trading a try, but don't want to "quit their day job" or lose their life's savings to do it.
Day trading is not, and should never be, gambling. In times of extreme market volatility, it can be your most conservative investment style. Understanding and using the principles of day trading can be a safe alternative to a "buy and hold" strategy when the markets are in a zig-zag pattern up and down. With the technology stocks going up 10 points one day and down 10 the next, a careful day trader can capture a piece of that variability each day, whereas a "buy and holder" would be net flat and probably developing a considerable ulcer. Everyone interested in stocks should know enough about day trading to understand good intraday entry points, even if they are primarily investors.
This book is meant to act as your guide - helping you take each step in the learning process toward becoming a successful part-time day trader. We show you how to find a broker, what software you need, what books to read, what web sites to look at, what training course you need, and give you guidance on how to put it all together.
Most important, we tell you everything that can go wrong! And we show you how to practise without risking any of your hard earned money. This is not a get-rich quick scheme. It is an approach that will enable you to capture the daily variations in the market.
John and I were not hedge fund managers. We were not stock brokers. We were just regular people like most of you that wanted to find a way to make a little extra money. We know what regular people "don't" know - we don't assume you have Wall Street Knowledge. We talk to you like we wish someone had talked to us. And we give you examples of the things we went through so you can learn from our experiences and not have to repeat our mistakes.
We wish you much success. Jeanette

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Time Compression Trading: Exploiting Multiple Time Frames in Zero Sum Markets (Wiley Trading) Review

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(More customer reviews)I am very disappointed at this book. Not only have I wasted money on it, but time as well. This book has no new substance whatsoever. It does not provide any new helpful hints or strategies other than the basics every simple trader already knows.
I kept reading and reading, then after a hundred pages I started skimming just to reach something. What is the author suggesting to do to be more profitable at trades? And finally, there it comes. The "Theory of Time Compression". Guess what it is. It is basically this: don't trade utilizing short-term periods (5 minutes), trade utilizing long-term periods (days or weeks). Why? Because when you trade short term your TA signals deceive you and you won't see the big picture. That's it folks! That is the only message of the book!
I am shocked that such a book received 9 five stars out of the 10 that reviewed the book. I am even more shocked by the editorial review: "Reveals how to profit from the actions of market participants operating in different time frames". Really, who wrote this editorial review?
I am very disappointed.
LATER ADDITION:
After posting my comments, I received a response from the author that developed into arguments then took an ugly turn, because of the character of the author, who kept attacking and reducling me. I noticed he did the same with other purchasers who did not like this book. He kept writing in bad language and ill manners, accusing us of being "morons", "stupid", and "losers". His writing also demonstrated an abnormal personality, and he was always writing in exploding capital letters like an inexperienced kid with apparent frustration. If you trust an author who talks like that to his audience, then go ahead and buy the book. But believe me, you would be buying a book, with no substance at all. Save your money, and do a good research. There are plenty of trading books out there by respectable authors that you can benefit from. This book is a scam, don't buy it.
Please check his responses to me and those who gave him a bad rating, then make up your mind.
I also noticed something really suspicious. I decided to look at the reviewers who praised the book. Six of the nine that rated this book as 5 stars have never rated anything else on Amazon. Have they not read any other books on trading? Only two of those nine posted their real names. In addition, none of the nine explained in any way or detail how they were able to utilize the concepts in this book to make them better traders. I even had a response from a "potential" reader who was praising and defending the author and his ideas before he read any of his books!
Therefore here is my question to all those reviewers that gave this book 5 stars: Can you detail the process by which you became a better trader after reading this book? Help me and help potential readers who are deciding whether or not to buy the book for practical help. We all know there is no holy grail, but how exactly did this book help you to be a winner against the other losers?
Finally, I went to the author's website and found out that he advertises and sells a mechanical system that generates buy and sell signals clearly based on Technical Analysis (You can see a program similar to MetaStock with charts and buy and sell signals), while in this book he attacks Technical Analysis in a whole chapter titled "The Illusion of technical Analysis". So which is it Jankovsky?
Readers: Please beware. If you really want to read books that offer value and practical applications, I suggest the followings. These books have many top reviews, not only nine. And you won't find their authors cursing readers who gave their books low rating, and calling them names:
- "Long-Term Secrets of Short-Term Trading", by Larry Williams
- "Way of The Turtles", by Curtis Faith
- "Cybernetic Analysis for Stocks and Futures", by John F. Ehlers
- "High Probability Trading", by Marcel Link
Good luck everyone. Trust me, you can make money in the market. Just read for giants, not suspicious authors.


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Technical Analysis Plain and Simple: Charting the Markets in Your Language (3rd Edition) Review

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(More customer reviews)This book is a good beginner's guide to technical analysis. The author touches on many aspects of technical analysis but doesn't go as deeply as Pring or Murphy. As an example, the author explains Elliot Waves in 4 pages, and there are 3 diagrams in those pages.
The book is 300 pages, but it's also 37 chapters. The chapter heading takes about a third of the page, there are breaks between subjects, there are a lot of charts, and not all the pages are filled completely top to bottom. There is less than you think. Take away the large headings, the subject breaks, the charts, fill up the pages completely and this book is probably only 150 pages to explain 37 chapters of material, which is barely enough to scratch the surface, which is what a beginner's book should contain.
One thing I like is that the author uses REAL LIFE examples. One thing I don't like is that while the author does a decent job of explaining the patterns, he doesn't show how to use those patterns as entry or exit points to help you make some $$$.
Overall, an average book at a good price if you want to learn technical analysis, but not trading. But if you want a GREAT book at a good price instead of just an average book, do yourself a favor and invest an extra $10 and buy "How Technical Analysis Works" by Bruce Kamich.

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High-Powered Investing All-In-One For Dummies Review

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(More customer reviews)Great product if you need to remember definitions of certain terms and how things work in different types of markets. The technical analysis section is very insightful about trends and trend lines, but it does discuss any other type of indicators. A definite beginners book.

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Looking for help making smarter, more profitable high-end investment decisions? Why buy ten books that cover each of the major topics you need to understand, when High-Powered Investing All-In-One For Dummies gives you ten expert guide for the price of one?
This hands-on resource arms you with an arsenal of advanced investing techniques for everything from stocks and futures to options and exchange-traded funds. You'll find out how to trade on the FOREX market, evaluate annuities, choose the right commodities, and buy into hedge funds. And, you'll get up to speed on using business fundamentals and technical analysis to help you make smarter decisions and maximize your returns. You'll also find ways to be as aggressive as your personality and bank account allow, without taking foolish or excessive risks. Discover how to:
Conduct preliminary research
Evaluate businesses
Invest for growth and income
Minimize your investing risk
Read financial statements
Understand your tax obligations
Trade foreign currencies, futures, and options
Get a feel for markets and react quickly to fluctuations
Spot and forecast pricing trends
Take advantage of online trading innovations

The key to expanding your investment opportunities successfully is information. Whether you're just beginning to explore more advanced investing or have been dabbling in it for a while, High-Powered Investing All-In-One For Dummies gives you the information, strategies, and techniques you need to make your financial dreams come true.

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Super Sectors: How to Outsmart the Market Using Sector Rotation and ETFs (Wiley Trading) Review

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(More customer reviews)I trade as a second job and read over 80 books about trading and investing so far in my career. if you read other books about sector rotation, like john murphy s intermarket analysis and Laidi s " currency trading and intermarket analysis " and were expecting something similar dont buy this book. is has only very superficial information about sector rotation. the rest of the book is about common sense investing rules, some trading tips and some quotes about sun tzu. they are all worthwhile for a beginner who just started trading but thats it. the chapters about 5 sector supertrends are more than obvious. who doesnt know that china is growing a lot and will consume a lot of commodities? please. I did not pay to hear that. This author poorly matched the contents of his book with the title. Other readers should be warned. If you want to know about sector rotation, and i say that because this is exactly my trading style, you should read the above mentioned books or Sam Stovall s " sector analysis" . Apart from that you have Martin Pring's newsletter and thats about it. no more worthwhile reading in the market about sector rotation. sorry for my spelling I am so pissed of because i bought this book that I am writing this review from my cell.

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Smart financial strategies that can secure your financial future

There are more than 600 exchange traded funds on the market today, and new ones are opening every day. Total worldwide invested assets in ETFs now tops $500 billion. Written in a straightforward and accessible style, Super Sectors outlines a specialized trading system that utilizes standard and leveraged exchange traded funds in an easy-to-follow plan, so that you can identify and invest in the hottest sectors in the world.In this book, author John Nyaradi skillfully shows you how to use ETFs to take advantage of businesses and sectors that are profiting, while also minimizing risk by getting out of the same areas before they start to decline. Along the way, Nyaradi reveals how to best analyze different sectors, such as technology, utilities, industrial, energy, services, and finance, and then discusses which ETFs can help you profit from the opportunities these sectors present. The book:• Outlines an active investment management strategy that will allow you to generate steady success in any market• Details how different types of businesses profit and suffer during different business cycles• Explores how sectors rotation strategies and exchange traded funds can put you in a better position to excel financially• Includes interviews with key expertsThe "buy-and-hold" strategy of yesterday won't work in today's investment environment. Nyaradi identifies the strongest potential sectors in the future. Find out what will work with Super Sectors as your guide.

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The Strategic Dividend Investor Review

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(More customer reviews)"The Strategic Dividend Investor" is a well written and informative guide to a rock solid investment strategy that has, unfortunately, been largely overlooked for the past two decades. Peris takes the time to educate the reader on the fundamentals of company valuation without bogging down in analytics. A pleasure to read without ever being campy or dumbed-down, "Strategic Dividend Investor" fills an obvious void in the realm of money management publication: a book sophisticated enough in content to satisfy the needs of the investment professional while being witty and accessible to those managing their own money.

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TIRED OF THE STOCK MARKET'S UPS AND DOWNS?
Get off the Wall Street roller coaster with strategic dividend investing!

"Peris is way out in front of the Wall Street pack. His book makes a case for dividend-driven investing that no one in this back-to-basics era should ignore."Josh Peters, Editor, The Morningstar Dividend Investor

"Peris is a leading portfolio manager in the dividend investing space, and his results and insights add tremendous value to any portfolio. Whether you're an individual investor or an institution portfolio manager, The Strategic Dividend Investor is an absolute must read in this challenging market environment."Don Dion, President, Dion Money Management, and Editor, The Fidelity Independent Adviser

"In this lively and persuasive polemic, Daniel Peris forcefully reminds us what equity investing is really all about: SHOW ME THE MONEY!"Ian Kennedy, former Director of Research, Cambridge Associates

About the Book:

There's a big difference between investing in the stock market and investing in companies through the stock market.The Strategic Dividend Investor shows you why, over the long run, investing in companies with high and rising distributions is far superior to "playing the market."

Responsible for $4.5 billion in dividend-anchored portfolios, Daniel Peris demonstrates that, for most investors, buying a stock in the hope of making a quick buck by selling it in a few weeks or months is far from the best way to create wealth. Instead, you should use the stock market as a means of receiving a share of excess profits—dividends—from corporations in which you own stock. Over time, those payments—and the growth of those payments—represent the vast majority of stock market returns.

The Strategic Dividend Investor outlines the key issues you need to address in order to create a solid dividend portfolio, including how to:
View the stock market as a business venture rather than as a platform for speculation
Strike the right balance between current yield and dividend growth
Learn to assess the ability and inclination of a company to pay and increase its dividends over time

The real key to mastering the stock market is to take the stock out of the equation and treat your outlay as you would any other business investment—with an eye to the long term and to cash returns.

By contrast, the "buy low, sell high, repeat frequently" philosophy foisted on the investing public has been wrecking portfolios on Main Street for decades, all the while generating big profits for Wall Street. But after a decade of mediocre returns from the stock market—highlighted by two dramatic crashes—now is the time to refocus your portfolio on dividends, and The Strategic Dividend Investor will show you how.

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Understanding Stocks Review

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(More customer reviews)This book is a great book for beginning investors. Nearly every book I've read on the subject has been dry and boring, and I'd tend to retain little knowledge as I trudged my way through. Michael Sincere does an amazing job of covering a large amount of information in a format that's easy to read and understand.
Most books on stocks I've read are heavily biased towards fundamental or technical analysis, and do very little to explain both. This book covers both fundamental and technical analysis, and gives the pros and cons of each, suggesting that using both is best, and leaves it to the reader to decide what's best for them.
This book also does a very good job of pointing out the benefits of contrarian strategies, and defining the major pitfalls most beginning investors face, and how to overcome them to become a successful investor. Even though the book goes into advanced strategies, the author quite responsibly points out that they should be left to successful investors, but gives enough insight to allow for understanding, and even commonly suggests other readings for further study.
This is THE book to read for a beginning investor interested in the stock market, especially if other books have been too tedious or boring.

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Understanding Stocksis an entertaining, easy-to-read book about one of the most fascinating subjects in the world: the stock market.You don't have to be a dummy, idiot, or fool to understand the market. You also don't have to be a genius. After reading this book, you'll realize that understanding stocks is not that hard. The hard part is making money, which you'll also learn how to do.

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Study Guide for Come Into My Trading Room: A Complete Guide to Trading Review

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(More customer reviews)Like Elder's first study guide, whether this will help you or not depends on your learning style. If you don't trust that you know something until you've taken a test, this book can help. It does an excellent job of pulling out the key topics and quizzing you on them. There are no 'silly' questions here--only the important stuff. On the other hand, if you like to read and underline, then return to the text when you are actually 'doing' the activity, then this book is probably a waste of money. One nit complaint: some of the labeling of chart features is a bit unclear. Since it is sometimes tough to tell which letter goes with which feature, answering some questions is difficult, even when you know the material.

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The trading bible for the new millennium
In Come Into My Trading Room, noted trader and author Dr. Alexander Elder returns to expand far beyond the three M's (Mind, Method, and Money) of his bestselling Trading for a Living. Shifting focus from technical analysis to the overall management of a trader's money, time, and strategy, Dr. Elder takes readers from the fundamentals to the secrets of being a successful trader--identifying new, little known indicators that can lead to huge profits.
Come Into My Trading Room educates the novice and fortifies the professional through expert advice and proven trading methodologies. This comprehensive trading guide provides a complete introduction to the essentials of successful trading; a fresh look at the three M's, including a proven, step-by-step money management strategy; and an in-depth look at organizing your trading time. Come Into My Trading Room reviews the basics of trading stocks, futures, and options as well as crucial psychological tactics for discipline and organization—with the goal of turning anyone into a complete and successful trader.
By showing traders how to combine the elements of mind, method, and money, Come Into My Trading Room gives readers the knowledge and insight to enter the market with confidence and exit with profits. Unparalleled depth and a wide range of coverage will keep all levels of traders engaged, informed, and returning to Come Into My Trading Room again and again.
Dr. Alexander Elder (New York, NY) is a professional trader, technical analysis expert, and practicing psychiatrist. He is the founder of Financial Trading Inc., providing intensive trading camps to traders all over the world. Elder's first book Trading for a Living (Wiley: 0471592242) and the companion study guide have sold over 160,000 copies.

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Strategic Stock Trading: Master Personal Finance Using Wallstreetwindow Stock Investing Strategies With Stock Market Technical Analysis Review

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(More customer reviews)While reading Strategic Stock Trading, I was able to use some of the techniques from the book to "read" stock charts better and to make some better trades that resulted in profits. I was also able to close some positions which would have resulted in losses if I had held them any longer. I have been trading options since 2003. I quadrupled my trading account, then watched like a deer caught in the headlights, while my account had a 50% draw down from late 2007 thru early 2009. In the last six months I have inched my way up to about 75% of my top rung. Through self discipline, I have learned to shorten the holding time that I am in a position and have learned to liquidate positions which are starting to look like they want to take a vacation in the sun (head south).
While reading Strategic Stock Trading, I realized that by looking at stock charts with a different perspective, like Michael Swanson shows you how to do, trading can be so much easier. Michael shows how to step back and look at the overall life cycle of a sector of the stock market and the life cycle of an individual stock, to see which of the four stages of the life cycle they are in. Strategic Stock Trading shows how to see the trend that a stock is in, even though it may be oscillating up and down and not giving a clear trend in the short term. This oscillating within a range may happen just before the stock breaks out, up or down, depending on which part of the life cycle the stock is at.
With thousands of stocks to chose from to trade, how does a person know what to trade to make a profit? The media is full of brilliant ideas and suggestions. When you understand how to look at the life cycle of a stock and use some basic charting techniques, it is easy to see whether or not to take a position on a brilliant idea or suggestion, or whether to be in cash, ready to take advantage of the next direction a stock is going to take. It's not about being able to read Candlesticks, Fibonacci Retracements, Elliot Waves, Head and Shoulder and other patterns. It's being able to understand the psychology of other traders (including professional traders). This is what Michael Swanson is getting at in his book Strategic Stock Trading. Yes, it is a short book and it can be read in one sitting, if you like, but the basic concepts may take you by surprise. It may adjust your thinking a bit and you may become profitably happy from that adjustment. It happened to me and I am looking forward to a happy trading future - regardless of which way the market trends.

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Many say few know more about stock trading than Michael Swanson, who ran a top ranked hedge fund for four years and has built up a huge audience of readers on his website WallStreetWindow.com thanks to the accuracy of his market calls and investment acumen, including making over 50% in 2008 in one of the worst years for the stock market ever. His book Strategic Stock Trading demystifies the stock market by explaining what truly makes the stock market and individual stocks move the way they do and shows you how you can take advantage of it. The book explains the principles required for you to become an elite trader in the stock market, including what and when to buy and sell using the Two Fold Formula, how to manage risk, and how to be able to foresee real changes in the overall trend of the market before the crowd does. There are many investment books that describe aspects of technical and fundamental analysis. This one puts them together and shows you have to really use them in a strategic way backed by real life experiences and examples. It also discusses the psychology of investors in the market and how hedge funds and institutional investors now influence the stock market more than ever before and what the individual investor must do in this type of market to succeed.

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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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All About Market Indicators (All About Series) Review

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(More customer reviews)My first book on technical analysis of stocks was "Technical Analysis from A-Z". That was way, way over my head. I needed something a little easier to start out on and didn't kill me with math. This book is it and I would absolutely recommend it to anyone who wants to learn about these valuable tools for investing short or long-term.
If you don't know anything about indicators (or a still relatively new to the subject) and are investing, I would urge you to read the material in this book. There are valuable lessons that could prevent serious financial hardship (like the simple rules around moving averages, which you can use to get a feel for where the market is going).
It is a primer. It is not an exhaustive study, and the author never makes a claim that it is. It's really a wonderful "appetizer" that shows you the different strategies. It also points you in the direction of where you should look next. He also does a nice little "back-test" to see which of the major strategies work. I found this useful in having a starting direction.
On a side note, I like Sincere's style. It's very easy to understand. I bought his book, "Understanding Stocks", for my teenage son. I have read two of his other books, "Understanding Options" and "101 Investment Lessons". "Understanding Options" I found to be a great starting overview of this complicated field; "101 Investment Lessons" was useful and should be read, but was a bit dated (it was written in the late 90s), and needs to be read with an open mind.
But this book -- Understanding Market Indicators -- I really believe is an absolute must-read if you are investing and are not familiar with technical analysis. It could save you a LOT of pain.

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ALL SIGNALS ARE GO!Why did professional trader and Market Wizard Linda Raschke move completely out of the stock market three days before a major crash? And what motivated Fred Hickey, a Barron'sRoundtable participant and editor of a monthly investment newsletter, to send out an alert to his subscribers three months before an October crash? And why did economist Bernard Baumohl recommend going long in the midst of one of the greatest recessions since the Great Depression?Is it luck or is it really possible to forecast what the market will do next? By the time you finish All About Market Indicators, you'll have an answer.

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If It Doesn't Go Up, Don't Buy It, 3rd Edition Review

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(More customer reviews)Aside from the humor in the book this is perhaps the most interesting investment plan I have ever seen. It is aimed at the basic investor, not someone who has spent years studying the stock market. The simple straightforward language is easy to understand. By trading no-load, no-fee mutual funds following this method it is possible to grow your money. It also discusses when and how to move your money to safe havens when mutual funds are not a good choice.
There are also chapters on options, commodities, and gold, but they are short and the subjects are presented more for background information than anything. You could not trade those successfully from the information in the book. But if you have money in IRA's and 401K/403B's then this will show you how to maximize your investment

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An easy-to-understand way to buy and sell no-load mutual funds. How to find funds that go up and when to sell funds that go down. Never lose money in the stock market. Very few buys and sells per year and only requiring about one hour per month of your time. Works for regular IRAs as well as 401Ks.

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The Truth About Day Trading Stocks: A Cautionary Tale About Hard Challenges and What It Takes To Succeed (Wiley Trading) Review

Average Reviews:

(More customer reviews)If you are searching around on Amazon for a book that will get you started in day trading, this is it. Josh DiPietro will give you the straight truth about the reality of being a day trader. It is a career choice like any other. It takes hard work to become successful. Almost every beginning trader blows out their account before learning to manage risk. You can read books and take seminars but only real trading will make you successful. I have been a trader for over 6 years and I agree completely with these observations from the author.
Josh's key points are to start with 100 share blocks only, to limit exposure and build skill. Do not move above this amount until you have been successful for months, then only increase trade size very gradually. You can make money trading 100 shares at a time through out the day. This also keeps your emotions under control when no one trade has to much riding on it. Use preset stop losses if your trade goes against you. Most amateurs make the mistake of stubbornly holding losing positions or even increase their position on the way down, this can be disastrous. The key to day trading success is consistency, making the money you need daily, by having a great win ratio.
Josh's system is scalping .20 cents to .40 cents off nice steady consumer staple stocks that trade at least a million shares daily on the market. He uses the previous days support and resistance levels as a trading range along with volume. His trading seems to be primarily counter trend, shorting at break outs to new highs and going long at support to try to catch retracements to profit. I have used this system in range bound markets for much success. So I can say his system is sound from my personal experience. He also wants to avoid stocks if they are in the news or earnings are expected, because that will disrupt the range and lead to volatility and trends.
He also explains the value of using pay per share brokers versus pay per trade brokers. If you qualify for an account with a pay per share firm you could get 10 to 1 or even 20 to 1 leverage. This is for the advanced and you must show them your ability to trade before they will release that much buying power to you. But it enables you to be profitable with $10 and $20 scalps because a 100 share trade is about .35 cents. This is an opportunity amateurs rarely hear about.
I have read over a hundred trading books and day traded successfully through this recent financial crises, with a 31% return from September 2008 to July 2009. I also was one of the rare people who went to a cash position in my 401K on January 5th of 2008. With my background I still learned several things from this book and it was great to get my mind focused during this break from trading. I highly recommend for all beginning and intermediate traders. I wish I would have had this book when I started day trading it would have saved me both money and time.

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

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(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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High Probability trading Review

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(More customer reviews)I've read some of the reviews (or should I say criticisms) of this book. They write that it's for beginners, there are just a couple of setups, and the obligatory discipline "cut your losses" warning chapter. I think people are missing the big picture.
If you want a detailed book about technical analysis, with lots of explanations, setups, etc. etc., there's "Technical Analysis Explained" by Martin J. Pring, or you can buy something by Jack Schwager or John Murphy.
If you want a book about building and testing a trading system, there's "Trade Your Way to Financial Freedom" by Van K. Tharp.
If you want a self-help book about discipline / psychology, there are a lot of those, some in the investment section, some in the psychology section.
If you want a book about day-trading, there are a ton of those as well.
The thing I like about this book is that everything is there in one place. At the end of each chapter, the author gives you pointers on what to do and what to avoid doing to reinforce your memory of the principles. The book is written in a very readable style. I got this book about three weeks ago, and by applying some of the principles I learned from the book, I made two profitable trades (which I would not have normally made) and avoided making a trade which I normally would have made. This trade would have been a loser. As a result of reading this book, I made and saved enough money in the last three weeks to buy ten copies of this book. Isn't that why we read these books???

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A common denominator among most new traders is that, within six months of launching their new pursuit, they are out of money and out of trading. High-Probability Trading softens the impact of this "trader's tuition," detailing a comprehensive program for weathering those perilous first months and becoming a profitable trader.

This no-nonsense book takes a uniquely blunt look at the realities of trading. Filled with real-life examples and intended for use by both short- and long-term traders, it explores each aspect of successful trading.

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

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(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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