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Day Trading on the Edge: A Look-before-You-Leap Guide to Extreme Investing
 
 
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Day Trading on the Edge: A Look-before-You-Leap Guide to Extreme Investing [Hardcover]

Leslie N. Masonson (Author)
4.1 out of 5 stars  See all reviews (15 customer reviews)


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Book Description

November 2000
A Look-before-You-Leap Guide to Extreme Investing


Editorial Reviews

From Library Journal

Pure and simple, day trading is more closely related to off-track betting, casinos, and gaming halls than it is to investing. Surging bull markets at the close of the decade have made the stock market the "in place" to be. Masonson, a day trader and consultant, provides an instruction guide for other would-be day traders. The author does a credible job of noting downside risks, notably that most day traders lose money and the failure rate is substantial. The lure of easy money, however, is highly enticing. Masonson provides a primer on day trading, offering detailed hardware and software recommendations, down to the right chair to sit in. The book's greatest value is its interviews with other professionals engaged in day trading, while a chapter dealing with how to retain earnings is particularly valuable for any small business. Libraries with a strong financial section might consider this book.DSteven Silkunas, Southeastern Pennsylvania Transportation Authority, Philadelphia
Copyright 2001 Reed Business Information, Inc.

From Booklist

The notion of day trading for beginners may be something of an oxymoron because, as Masonson emphasizes, day trading should be considered only by experienced investors who are willing to assume a great deal of risk. Masonson is a consultant specializing in cash management and the author of Cash, Cash, Cash: The Three Principles of Business Survival and Success (1990). He is also a successful day trader. Unlike others who have touted the get-rich-quick possibilities of day trading, Masonson fills his advice with caveats. For those determined to take the plunge, he lays out the basic principles and key rules of day trading. He also spells out the advantages and disadvantages of using a day trading firm versus trading from home. He details the attributes of successful traders using a survey of 200 persons and includes interviews with 11 traders and 6 trading firm CEOs. In addition, seven "pro's" have contributed chapters to this straightforward guide. David Rouse
Copyright © American Library Association. All rights reserved

Product Details

  • Hardcover: 383 pages
  • Publisher: AMACOM; 1st edition (November 2000)
  • Language: English
  • ISBN-10: 0814405738
  • ISBN-13: 978-0814405734
  • Product Dimensions: 9.1 x 6.1 x 1.3 inches
  • Shipping Weight: 1.6 pounds
  • Average Customer Review: 4.1 out of 5 stars  See all reviews (15 customer reviews)
  • Amazon Best Sellers Rank: #1,191,701 in Books (See Top 100 in Books)

More About the Author

Leslie N. Masonson, MBA, CCM, is President of Cash Management Resources, a financial consulting firm that he founded in 1987. Masonson's 40-year working career has spanned financial advisory services, trading, investing, banking operations, management, teaching, and cash/treasury management consulting. Most recently, for the past six years he was a Financial Advisor offering investment management services to retail clients. Much earlier in his career, he worked at three large banks for a total of 17 years as a Vice President at Citibank, an Assistant Vice President at Bank of America, and an Assistant Secretary at Irving Trust Company.

He has written more than 50 articles - interviews with traders, and product and book reviews - for numerous financial publications, including Technical Analysis of Stocks & Commodities, Active Trader, and Futures magazine. He has lectured on investing on several cruise lines including Crystal, Celebrity, and Norwegian. In November 2003, he spoke at the Intershow Online Investor's Expo, on "Successfully Trading Stocks for a Living."

Masonson has been studying the stock market for more than 50 years. He has invested in mutual funds, stocks, options, futures, and commodities. Masonson has read more than 500 books on investing and trading, and he is proficient in technical analysis. He has used many investing and trading software programs over the years, including Telescan, OmniTrader, DTN, TradeStation, ULTRA, VectorVest, and High Growth Stock Investing, as well as many charting, investing, and trading sites on the Internet.

He has been interviewed on business radio stations, as well on cable TV on the Financial News Network and CNBC. The Wall Street Journal, USA Today, Institutional Investor, Bottom Line/Business, Inc., Las Vegas Review-Journal, and Advertising Age have interviewed him. He has previously authored the following books: All About Market Timing: The Easy Way to Get Started, (McGraw-Hill, November 2003 and translated into Chinese in February 2010), Day Trading On The Edge: A Look-Before-You-Leap Guide to Extreme Investing, (AMACOM, 2000), Cash Cash Cash: The Three Principles of Business Survival and Success, (HarperBusiness, 1990), Corporate Cash Management: Techniques and Analysis, (Dow-Jones Irwin, 1985. Coedited with Frank Fabozzi), and the Corporate Treasury Management Manual (A.S. Pratt & Sons, 1998. Editor and Contributor).

Masonson received a BBA in Finance and Investments from The City College of New York and an MBA in Operations Research from Bernard M. Baruch College. His master's thesis title was "Statistical Evaluation of the Relative Strength Concept of Common Stock Selection."

 

Customer Reviews

15 Reviews
5 star:
 (8)
4 star:
 (2)
3 star:
 (4)
2 star:    (0)
1 star:
 (1)
 
 
 
 
 
Average Customer Review
4.1 out of 5 stars (15 customer reviews)
 
 
 
 
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Most Helpful Customer Reviews

16 of 16 people found the following review helpful:
3.0 out of 5 stars No Methods-but interesting, December 13, 2000
By 
Eugene H. Steele "daytradewithmecom" (Fort Lauderdale, Fl United States) - See all my reviews
(REAL NAME)   
This review is from: Day Trading on the Edge: A Look-before-You-Leap Guide to Extreme Investing (Hardcover)
This book fulfills its' promise but if you want to learn to trade this is not the book for you. It does not pretend to be but the title is deceptive. It really is a look before you leap guide. It is hard to determine who wrote the book with so many contributing writers. I would recommend this book for those who know nothing about the subject and after you have read it you will know nothing about trading. But, you will know everything about the trading industry. The book should have been re-titled but then fewer people would have bought it.
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14 of 16 people found the following review helpful:
1.0 out of 5 stars do not buy this book, May 10, 2001
Amazon Verified Purchase(What's this?)
This review is from: Day Trading on the Edge: A Look-before-You-Leap Guide to Extreme Investing (Hardcover)
If ever I have bought a worthless piece of #### this is it. This man has absolutely nothing useful, except to warn you time and again not to be a day trader. He repeats the same very basic concepts in all the beginning chapters. I learned nothing useful except a ton of webpages and daytrading courses offered by the daytraders who he interviewed complete with thier 800 numbers....A real waste of ... I kid you not.
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16 of 19 people found the following review helpful:
5.0 out of 5 stars Day Trading on the Edge Leslie Masonson, November 22, 2000
By 
"9216" (Jersey City,NJ,USA) - See all my reviews
This review is from: Day Trading on the Edge: A Look-before-You-Leap Guide to Extreme Investing (Hardcover)
Approximately three years ago,I became intrigued with the 'day
trading'phenomenon.There is no shortage of news stories and incidents
to confirm or negate pre-conceived opinions.I have read dozens of
books on the subject,along with hundreds of news stories and visited
scores of websites.With the abundance of raw information,one can
understand,the need for structure and focus. Finally,here is a book
that focuses on all the issues you need to address on whether to
become a day trader or not.This book is:Day Trading On The Edge by
Leslie Masonson.It is the definitive book on the subject to date.
Mr.Masonson,takes on the struggle of whether or not to become a day
trader.The writer takes an impartial,passionate approach and gears his
findings towards the newcomer,the novice day trader,and the online
investor. The book is divided into five sections.Part One leads off
with a hard look at the requirements.The beginning framework provided
is brutal in its honesty about minimum requirements,psychological
makeup,capital requirements,education and commitment. A roadmap is
provided for acquiring the 'best trading education'.The tabulated
results of a fifty-seven question survey of over two hundred day
traders gives an empirical view of requirements.Along with this are
two expert opinions on the importance of psychology in trading.Ten
steps are provided to guide in the selection of a trading firm.Their
names and websites are listed along with a questionaire to assist in
reference checking. If you are more comfortable trading from a home
environment,the requirements are also detailed.There is a wonderful
section entitled 'all about connections'contributed by Gibbons
Burke,that demystifies this area.The author has painstakingly detailed
additional critical info you will need.No detail is spared,Mr.Masonson
even helps you to select a comfortable chair.You are treated to a
picture of his 'Herman Miller Aeron Chair'.A plush $750 cushioned
chair geared to comfortable seat any daytrader for a stressful day.
Mr.Masonson uses simple everyday language,along with easy to follow
charts to summarize critical factors and data for easy reference and
decision making. The educational resources catalogued are virtual.It
leads off with a questionnaire to frame your needs.This is followed
with a focused listing of websites,related phone numbers,books,a
technical analysis workshop along with its demanding
curriculum,professional trading magazines and financial columns.You
could spend a good portion of your life structuring and researching
all the material on the web.This is all conveniently grouped together
from a traders' perspective in this book. Money management,an
integral part of day trading is handled deftly and expertly by John
Piper,Oscar Goldman,Ryan Jones and Ted Tesser.To accomodate the
differing styles of processing information,various approaches are
highlighted.From general rules,to the highly technical approaches of
the fixed fractional method,optimal f,and Oscar Goldman's 'new
age'approach-Your Mind's Money Machine. Everyone agrees legally
keeping what you make is a core strategy.Ted Tesser tackles this issue
with refreshing simplicity and humor (Mr.I M Screwed's A/C), head
on.You will find comprehensive analysis of 'broker-dealer/market
maker'strategy,entity and VEBA structurings and how to incorporate
these strategies into your trading program.Like rare fine wines,a list
of tax advantaged websites is provided. Would you like to go one on
one with traders and CEO's of trading firms?The author goes head on
and ask 1001 questions you would have asked such luminaries as Theresa
Lo,Larry Pesavento,Tim Cho(TCI Corp),Donald and Robert Bright,Alan
Farley,Chris Manning and a host of others.Check out the curriculum for
one of the best technical analysis seminars around-MATS(Manning
Advanced Training Seminars).These interviews in section four are
riveting,balanced and essential in your consideration to daytrade or
not. The CEO's of trading firms are grilled.Their honesty and ability
to openly respond to issues such as daytrading services,the Mark
Barton incident,potential suitability of a client,their training
programs,the future of daytrading,SEC issues,margin requirements
etc.,is compelling when you are deciding whether to trade with a firm
or from home. Contributing CEO's are from On-Site Trading
Inc,EdgeTrade.Com, Bright Trading,Inc,Market Secs,Inc and Carlin
Equities Corp,all luminaries in the field. The Regulatory findings on
the daytrading industry are all collected,and referenced for your
perusal.A roadmap is provided for you to evaluate these findings and
decide whether you want to be a part of this industry.The industry's
concerns-comparison to gambling,firms' flaws and failure to prove
their claims,lending arrangements,deceptive advertising are discussed
without qualifications. The author challenges you to explore this
intriguing world and decide if you really want to be a part of it.Or
else,why would he include as one of his final chapters-Why In The
World Would Anyone Become A Day Trader?- by Saul Nirenberg.If you
still opt for this world,then pg.364 of the final chapter is for you.A
comprehensive,finely crafted plan for venturing into the nether world
of day trading. Whatever you decide,it is a riveting and compelling
discourse.


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Inside This Book (learn more)
First Sentence:
You are constantly being bombarded by newspaper and financial magazine ads, thirty to sixty second TV spots, and mail from online brokers with freebies or discount coupons trying to grab your stock trading business. Read the first page
Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
online trading expo, equities day trader, welfare benefit trust, new day trader, remote traders, day trader trade, day trader need, other training tools, trading seminars, perfect trader, day trading stocks, unsuccessful traders, successful day trader, minimum attributes, simulated trading, day traders, paper trading, trading software, swing trading, technical analysis tools, day trading firm, market wizards, new traders, losing capital, trader view
Key Phrases - Capitalized Phrases (CAPs): (learn more)
Bright Trading, Wall Street, Nasdaq Level, United States, Omega Research, New York City, On-Site Trading, Dow Jones, Manning Advanced Trading Seminars, Online Trading Academy, Don Bright, Las Vegas, The Matrix, Arthur Levitt, Edwin Lefevre, Investor's Business Daily, San Francisco, Stock Operator, Ted Tesser, Everyone Gambles But the House, Has the Mark Barton, John Piper, Kyle Zasky, Mark Douglas, New Jersey
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