Day Trading For Dummies (For Dummies (Business & Personal Finance))
Day Trading For Dummies (For Dummies (Business & Personal Finance))
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!
List Price: $ 24.99
Price: $ 13.89
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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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