Customer Reviews

How To Day Trade Stocks For Profit

5 star:		(7)
4 star:		(2)
3 star:		(0)
2 star:		(1)
1 star:		(1)

 

 

I've been trading for about 7-8 years now, first as a swing trader and now primarily a day trader. I have a pretty good thing going but I'm always studying, always trying to learn something new to give me an edge. I've read a ton of books on trading and investing--I have a lot of the big name books that have hundreds of reviews and lead the pack in sales. All I have to say is thank God for the digital age and the ability to self publish, because this gem of a book would not exist if Harvey Walsh had to first go out and get a book deal with a major publishing house. At this point in my trading career, if I learn a couple of new tricks or concepts from a book I'm happy. I'm totally happy with my purchase of this book.

The vast majority of trading and investing books out there are preparatory--they tell you the things you need to know and have and be before you trade. They go through risk management, indicators, trading psychology, all the things you'll need to know before you start trading. All of these are critical to a trader's success, but nearly all of them drop you off and say goodbye at the point where you're sitting at your PC, logged into your broker's trading platform, trying to put it all together and actually made a trade. Harvey's book picks up where those books leave off. It astounds me that there aren't more books like this out there. Well, no, I guess it doesn't--most people with the knowledge and ability to actually pull off a day trade either have a pamphlet sized book that they're selling for $89.99, or they have their own websites and "systems" and chat rooms, through which they're willing to impart their knowledge for a scant $400 a month. Harvey has done beginning to intermediate level traders a huge service with this book. This is a sick bargain.

This book is very, very rare in that it really is a how to book on day trading. It gives specific trading setups, how and when to enter, and after you're in, how to manage the trade. These are valid, sound techniques--anyone with a significant amount of real experience trading would recognize them. He's also a good teacher, his clear and straightforward style making it easy to understand the concepts he's trying to get across.

But it doesn't stop there. Harvey gives the reader a well written, though brief, primer on all of those same preparatory concepts the big boys' books have. He talks about markets in general, indices, sectors, futures, order types, risk management, position size, brokers, the importance of paper trading, charting, chart patterns, indicators, support & resistance, and more. He really does cover all the bases.

The book does have a few shortcomings, but this is less a criticism of the book than it is a realization that no one book is going to give you everything, nor is one person's take ever the final word on any subject. Many of what I call the preparatory topics, like "what are futures," or risk management, are only brief introductions to the topics. There are entire books written on subjects that Harvey gives only a few paragraphs or maybe a couple of pages worth of explanation. This is understandable, though--the focus of the book is how to day trade, not how to become expert in every conceivable aspect of trading.

Another important point here is that this is just one way to day trade, not The Way. Harvey is big on chart patterns and on entering trades where support or resistance has been broken, which is a totally valid way to trade, but this style often ignores the dollar of price movement that's happened prior to the breakout that nets 20 cents. This type of trading can definitely be profitable, but after mastering these techniques the trader needs to keep learning from his own experience as well as from others.

So, here's my advice to you if you're a new trader: Buy and read this book. When you finish it, start paper trading. Then buy a few of the best books from the big guys, like (especially) Brett Steenbarger, Mike Bellafiore, Alexander Elder, Marcel Link, Van Tharp and others. Read and understand them. Understand that risk management and preservation of capital are the most critical aspects of trading, far more important than entries and exits. Spend time going through the pile of trading websites, taking advantage of their free info. Then, read this book again. You should then be ready to log into your trading platform and start trading with a small amount of money. From there it's up to you.

I'm having a serious issue with the Kindle version of this book. I've tried reading it on my Kindle, my Kindle Fire, and my Kindle for PC software. On all three devices, the charts and graphics in the book are all out of order. Completely in the wrong places. When I read a paragraph regarding a specific graph, I then have to flip four or five pages ahead to see the proper graph and then flip back to continue reading. It's as if all of the graphics are placed several pages ahead of where they belong. They are embedded in the text, still, but in the wrong location. If there is a way for me to fix this, someone please let me know. I'm really disappointed in the poor editing of the digital version of this book. I'm honestly surprised that there have been no reviews concerning this already. Please tell me if I'm doing something wrong.

UPDATE: I removed the book from my Kindle Fire and downloaded it again and now the charts seem to be lining up properly. I'm going to try doing that on the other devices and see what happens.

In this book, Harvey doesn't claim to have found the Holy Grail trading strategy that works every time without fail. Instead, Harvey outlines the exact strategy that he uses successfully in an easy to read and understand format. He preaches keeping things simple and putting in the work required to profit from the markets daily. Anyone who has ever traded knows that there is no system that works 100% of the time with little to no effort needed. Harvey discusses controlling emotions, staying disciplined, and not over-complicating your trading strategy.

With numerous examples with detailed explanations, he walks you through exactly how he enters and exits trades. You can also look up his YouTube page and watch him use this exact strategy successfully on multiple videos.

For $10, this book is an absolute steal!

Knowledge is power and when experiencing the information provided by the author of 'How To Day Trade Stocks For Profit' that statement cannot get any truer. As daunting as it may look for a person with little to no experience with stocks and trading, I can tell you for a fact that after reading this book you will be surprised at how easy it all really is.

'How To Day Trade Stocks For Profit' shares the basics in an easy to read style without all the alien jargon that always makes this subject sound so complicated and on top of that provides exercises that will further clarify the trading process.

I highly recommend reading this book for anyone looking into day trading and who wish to make a profit from it.

I read this book out of curiosity as I have very little experience trading but always wanted to know more. I was surprised at how simply yet thoroughly it explained the stock market concepts & strategies. Most importantly, this book got me motivated and excited to get started. I couldn't wait to finish reading and begin this new adventure. Highly recommended!

This is really good stuff, I'm profiting from it. After several weeks of practicing the principals outlined in this book, I've started trading live and am making money. The idea of choosing only easy stocks and easy trades makes so much sense. Other books only talk about theory, but this one shows you the nuts and bolts of actually doing it.

I really appreciated the exercises in the book because they helped me understand the trading process and were easy to follow. In my opinion It could have included a bit more on psychology, hence only the four star rating.

Nevertheless, I thought the book was informative and a great primer on trading. The format was easy to understand, and I would recommend it to others looking for a "how-to" guide.

This book is great for anyone interested in trading stocks. I had a little bit of knowledge of the subject before reading it but it filled in a lot of holes. It also showed me that some of what I thought I knew was wrong!

The book is split onto four sections. Section one covers all the basics. It's easy to read with lots of bullet points and examples. The charts in the book look better on the iPad screen than the Kindle screen, but that's more a criticism of the Kindle. Section two is a set of questions and answers to test what you've read so far.

Section three is the best bit, thats where it gets into really how to make money in detail. Section four is more questions and answers. That actual making money part is amazing, it got me buzzing with excitement.

I read the book in a weekend, and by Monday was raring to go - it's really motivating. Overall a great book for beginners. It tells you everything you need to know to trade stocks for profit. Troy Bonar "The Samurai of Success"TM Author of Geocaching Your Life: Finding Your Treasure and Achieving Success

This review is from: How To Day Trade Stocks For Profit (Kindle Edition)
In this world of economic uncertainty, the average person has to become familiar with alternative methods to supplement their income (if they have an income, that is). Although there have been many willing to teach you the ropes, no one has ever been as thorough and easy to understand as Harvey Walsh in his book "How to Day Trade Stocks for Profit". This great instruction manual won't make you rich over night, nothing will, but it will guide you into being able to make a profit by trading stocks. Thinking of all the wealthy people that are in the public eye because they made fortunes by trading stocks, I decided it was time for my "piece of the pie". This is a great start and I highly recommend it.

I like the previous reviewer have the same problem with the Kindle version of this book. The charts and diagrams are not in order with text. They're several pages or even a chapter ahead of whats being discussed. It makes it almost impossible to understand and learn anything. Also you can't enlarge the image of the charts or diagrams and there so tiny you need a magnifier to read them. This is a poorly presented product. I don't know if the book is any good, because I can't read it.

Update: Amazon has corrected this problem and now after redownloading, the problem with the charts and diagrams has been corrected and it is now in sync with the text.