Customer Reviews

Day Trading For Dummies

5 star:		(12)
4 star:		(14)
3 star:		(4)
2 star:		(1)
1 star:		(2)

 

 

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.

"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.

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!

Despite the "For Dummies" title, this book is not for dummies but for smart people who want to avoid the mistake most dummies make - not doing your homework!

This book is not going to make you a day trader, in other words you're not going sit down after reading this book, open an account, and be a profitable trader. But what it will do is give you the ability to realize what you're getting yourself involved in on all different levels.

You'll see what kind of work is involved, what you need to start studying, what the work flow is, what the risks are, what lifestyle it is, and perhaps most vital, the psychological issues you need to confront. That is extremely CRITICAL in my view for anyone to do prior to saying to yourself "I'm going to become a day trader". Logue's book is an excellent way to conduct the due diligence process that so many people neglect prior to opening an account.

Logue is not too optimistic or pessimistic, it is not one of those "Make millions trading online" or "Trading ruined my life" books. Most important, it stresses that trading is a business, an entrepreneurial venture, and needs to always be treated as such. I also give props to the traditional "For Dummies" layout, which I'm a big fan of - its easy to reference and get to what you need.

I think once you read this book, you'll have a good idea of what trading is like which will help you decide whether or not it is right for you. It also helps point you in the right direction as to how to get started. If more people did this in advance of opening an account, the statistics for failed day traders would no doubt be smaller.

This book is everything we have learned to expect from the 'Dummies' genre. It is widely applicable to its subject and contains bibliographic info if you need more on a particular aspect. I am happy with it as my first look at the subject matter.

this book was excellent...it helped me realize this was a profession that just was not for me...saving me countless dollars in mistakes and inefficiencies...it trully paid for itself

Convinced me not to try it. Good info but I don't have the guts to put my money on teh line at this time.

I bought this book hoping it would give at least a basic introduction to day trading. The book accomplished that. Loque goes over the basic needs of being a day trader. Emotional, financial and even office setups. She emphasizes that being a day trader is a business and one has to treat it as such. Not something that you do in your spare time from work or family responsibilities. The only thing I noticed is that she emphasizes having a good trading plan. I think she should have offer more examples of a trading plan and strategies. But she does offer at the end a lot of other resources to check out. If you are absolutely new to day trading this is a good book to start from.

As you probably know, daytrading can be a very good way to
earn a lot of money and also LOSE a lot of money. This book
is pretty good because it gives warnings both of those
categories. I recommend this book because after reading it
you will clearly know whether you are cut out to be a daytrader.
Very basic information, but very necessary information.

I learned a lot about Day Trading after finishing reading this book. I did not play the stock market until I learned the rules of the game first. This book gave me the inside of how to position myself in learning all aspect of being a professional trader. Now I wake up every morning knowing what report to read first and how to play a good game for that day. I recommend this book!