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
Product Description
Day trading is undoubtedly the most exciting way to make money from home. It's also the riskiest. 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 get 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. Learn how to:
- Set up your accounts and your office
- Connect with research and trading services
- Plan and research trades carefully and thoroughly
- Comply with regulations issues and tax requirements
- Leverage limited capital
- Cope with the stress quick-action trading
- Sell short to profit from price drops
- Evaluate your day-trading performance
- Use technical and fundamental analysis
- Find entry and exit points
- Use short-term trading to establish a long-term portfolio
You'll also find Top-Ten Lists of good reasons to go into day trading, or run from it in terror, as well as lists of the most common (and expensive) mistakes day traders make. Read
Day Trading For Dummies and get the tips, guidance, and solid foundation you need to succeed in this thrilling, lucrative and rewarding career.
Back Cover Copy
Features sample trading plans Know the markets, gain confidence, and buy and sell like the pros Want to succeed as a day trader? This plain-English guide shows you how day trading works, identifies the all-too-numerous pitfalls, and gives you a step-by-step action plan to get started. From classic and renegade strategies to the nitty-gritty daily practices, you'll see how to keep a cool head and manage risk while you buy and sell your positions.
Discover how to: -
Set up your accounts and your office -
Plan and research trades -
Comply with regulatory issues -
Leverage limited capital -
Profit from price drops -
Make better portfolio decisions
Reader ReviewsI 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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