Customer Reviews

The Compleat Day Trader II (v. 2)

5 star:		(34)
4 star:		(1)
3 star:		(3)
2 star:		(2)
1 star:		(13)

 

 

I feel that Day Tader II is really a rip-off as it basically just reguritates most of the material found in volume one. THIS is typical Bernstein -- the goal is dollars from book sales, not educating the reader. Mr. Bernstein does not respect his readers, and this is the sad part because he obviously is a highly intelligent man who probably could contribute a lot to the field of daytrading education if he weren't so needy and greedy. I wouldn't go so far as to call him "Jake the Snake", but I do think he should put more care into the content of his books.

Bernstein has another excellent book. He reviews the tactics taught in Compleat Day Trader I and then goes on to elucidate a number of more advanced topics that, like his other systems, give very clear entry and exit points and therefore help to minimize the risk.

Jake also again warns of the risks of day trading and shows the importance of developing one's own rules and consistently following them in order to avoid making costly mistakes.

I also cannot help but be impressed with an author who plainly states that he is willing to help his readers, provides a means for his readers to contact him, and then actually makes good this statement. I had some difficulty with one of the trading systems Jake presented because the charting program I was using had a mind of its own. While the manufacturer couldn't help me to clear things up, Jake went out of his way e-mailing and faxing me to help work through my system problems, even though the problem has nothing to do with Jake's system.

Jake has another highly informative and easily read book which should be on every day trader's bookshelf.

Mr. Bernstein writes a book almost every month. He certainly is a prolific writer--my question is when does he have time to trade??

Save your money. Never, never waste your funds on the drivel this author produces!!

A profitable trader would never have time enough to write even one tenth the quantity of words this person produces.

Find traders that actually make money to learn from. There are a few that have written good books.

As starting points:
For equities traders try: Professional Stock Trading
For futures traders try: Trading Day by Day

These are simply starting points, but are written by REAL traders, not worthless-book producers.

If this message gets through to just one person, then I will feel as if I have done something worthwhile. If you really want to daytrade, sit in front of the market for a year or so. Everyday, take thorough notes and see what you can come up with. There are a few good books out there but none that will make you a profitable trader. Gary Smith for instance has written an excellent book on daytrading, so has Toby Crabel. Read all the books you want yet remember two things, there is no substitute for experience and there is no substitute for using your own brain.

This book opened my eyes to many new and valuable timing indicators and methods. With a clear and concise writing style, Bernstein points out many caveats and precautions. The chapters on 30 Minute Breakout and Day of Week patterns were especially helpful, as well as the discussion on Open vs Closing relationships and Inside Days. This book helped me confirm that day trading the commodities market is a tough business, but one that can be learned if you have the discipline and motivation for success.

After reading some of the negative reviews, I can only surmise that these people must not have read the book ... they are 'way off base.

What's more, Bernstein says we can contact him if there are any questions. That's a rare offer these days.

Stated simply this book is written by someone who can not show a positive trading record.What he offers is non-effective trading information."JAKE BERNSTEIN HAS A LOUSY RECORD TRADING .....but has made plenty trading on investor gullibility." (FORBES 3/9/98)

This book is much to general. Mr Bernstein spends much of the book talking about certain indicators and systems and just when you get intrigued he then directs you to one of his other books or his website to learn more about what he has just teased you with leaving you with nothing of tangible use. The 2-3 indicators that he teaches you in the book and the rules to apply them are to vague and can't be applied without further explanation. It does give you decent overview and introduction to day trading but thats it.

The Day Trader II is just a "revised" version of Day Trader I. I found nothing new in this book. So if you've got Day Trader I,you don't have to pay twice for the same content !

If you want a book on philosophy, this is for you. If you are looking for a complete guide to daytrading, you will find this book to be mostly padding. Detail useful to a daytrader forms a surprisingly tiny percentage.

Its title is the most misleading I have purchased in some years. I want my money back.