Features
- Cover Type: Paperback with 360 pages
- Published by: For Dummies October 29, 2007
- Written in: English
- ISBN 10 Number: 0470171499
- ISBN 13 Number: 978-0470171493
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Book Dimensions:
9.1 x 7.4 x 1.1 inches
- Weighs: 1.1 pounds
Reader Reviews
I received this book as a gift and, at first, I was skeptical. I spent twenty 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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