Customer Reviews

Short-Term Trading in the New Stock Market

5 star:		(9)
4 star:		(3)
3 star:		(1)
2 star:		(1)
1 star:		(1)

 

 

I read a lot of trading books and have been trading for quite a while. I am always searching for a better book and new ideas. While this book doesn't have any revelations, it does do a wonderful job of reviewing the basics in an easily digestive manner. The author even has some review questions at the end of each chapter to see if you have a good understanding of the material. I particularly like the way the author discusses her stock picks and tells you what she is looking at and her decision process. It helped me ask some different (and better) questions concerning my stock selection before I entered a trade. There are some intermediate level discussions of indicators but very little on system trading (which I am currently researching). All in all an enjoyable book.

This is actually an excellent introduction to short term trading. Everything is well explained and pleasantly written. Day Trading 101. However, it's not really marketed as that, so it gets 2 stars.

If you read this book and much of it is a revelation, you need to spend the next 4-6 months doing research, reading, and paper trading. If you were to start trading based on what's in this book you would lose your shirt.

It's akin to a book on football that explaines the field, how far apart the lines are, where the end zone is, who the players are, what the positions do, what a pass is, the three things that can happen when you pass, etc. It would even have a few basic plays, the "long pass", "student body right", etc. Everything you need to know about football, except how to actually play and win.

Basic, well explained information is what this book has. And if you're just getting into trading it's a worthwhile read. It'll give you a foundation that will help you understand more advanced books like Secrets Of An Underground Trader or Technical Analysis of the Financial Market (Murphy).

But even the lack of advanced technical stuff is not really a strike against Toni's book. The technical books really are just research books for helping you design your own system. They are practically outdated as soon as they come out and even if they're not, it's a dangerous thing to rely on someone else's system. You need to design a system that you can trade and you're comfortable trading. If you can't do this, NO book can help you.

Which leads to the main reason I gave the book 2 stars. Lack of any real discussion of trading psychology. The book you NEED to buy if you're going to trade is Reminiscences Of A Stock Operator. It's 80 years old and explains the mentality of trading as well as any book out there. The Psychology of Risk is another good book. Understanding what it takes to trade and determining if you have that is critical. As is understanding if you can make split second decisions when it's $40K of your own money on the line.

Toni devotes a few pages to it, including a silly 'Psychology quiz' which is probably the same quiz they use in the back of Cosmo to determine whether you're an agressive lover or a passive one.

She also devotes a page at the end of each chapter to 'self-help' tips. It's true that you can't design a system for yourself if you don't know yourself, so these are helpful. At the end of the day tho, they won't explain what it takes mentally to be a trader. Personally, I find Yoga to be a good way to clear my head in the morning and get focused. But it's a means to end. Not the end itself. Such are the self-help tips in the book. If you don't know what you're trying to achieve, they are only so useful.

So if you've read several books on trading you can skip this. There are much more advanced books out there.

If you're new to trading and are looking for a well written book explaining the basics and a bit more, this is worth the money. But it's not a classic or something you'll find yourself referring to as the years go by.

I just finished reading Toni's newest book, Short-Term Trading in the New Stock Market. I am happy to report that each chapter has given me helpful advice. I have been trading for five years, and even in the initial chapters, which talk to newer traders, I learned useful points and strategies that I had forgotten, or had not previously known.

Toni teaches trading with a fast-paced writing style and a sense of humor that I appreciate. I particularly liked her chapters on ETFs: their origins, the benefits of trading and hedging with these funds, and where to find them. (She provides a list of the most actively traded.) Her discussion on market internals, meaning futures, TICK, TRIN, put/call ratio and VIX were very helpful to my day trading strategies.

Unlike other trading authors, Toni keeps her ego out of the picture. And, she adds very useful information between chapters on behavioral concept that help keep your trading mindset clear and constructive. All in all, I enjoyed this book very much and have recommended it to my trading friends.

If you are just starting to explore the possibilities of trading, I highly recommend reading this book. It will give a foundation for deciding what and where you need to look next.

I found this to be a really good text for a person contemplating the "trader game". It is a fairly easy read for someone not all that versed in the fundamentals of trading, but that has an interest in perhaps pursuing the endeavor.

Must traders with some experience would surely find the content slightly rudimentary, I think. But for someone starting out it is just enough - not so elementary to be simple, but not so technical as to be overwhelming. Having read the entire text, I will be re-reading most of it again; this time with a highlighter and notebook.

Toni's writing style is a little too cutesy at times and the included Center Points at each chapter ending are a little to bromidic, but the core of the text is insightful and educational.

Toni's new book is a great source of information for traders. I particularly like the way she explains charting techniques and indicators, such as moving averages, stochastics, MACD, ADX and Fibonacci retracements. In her typical, to-the-point style, she tells you what the indicator is, how it works, its quirks, and how it helps you trade better.

I also learned a lot from her set-ups, actual examples, and her explanations of how each trade progressed. She knows how to explain complicated material in a way that's instructive and enjoyable to read. I highly recommend "Short-Term Trading in the New Stock Market" to anyone interested in trading.

I have been an active trader for four years and I wish I would have had this book four years ago. This book is full of practical wisdom and insight into what it takes to be a trader in today's market. Toni Turner is a active trader and has gone through the ups and downs and knows what it takes to be a trader. In her book she lays out step by step the actions you need to take to have a sucessful trading career. Trading is hard work and only the hungry and determined make it. It's one of the most rewarding careers you could ever dream to have. But it's hard work and Toni hits at all those points in her book. She also incorporates great "Center Points" at the end of each chapter which are truly insightful. You won't go wrong adding this book to your collection.

I just met Toni Turner at the Chicago Traders' Expo. She's a fantastic presenter. She's organized, sincere, and knowledgeable.

I came home and purchased her new book, "Short Term Trading in the New Stock Market." It's definitely worth the price--and more.

Toni writes like she talks, with positive high energy. In the sections on technical analysis, she builds from the basics, such as candlestick technology and moving averages, to more complicated subjects, such as Welles Wilders Directional Indicators, with ease and a reader-friendly style. I found her discussion of volume signals to be comprehensive and practical, and they've already saved me money as risk-management tools.

I have been trading full-time for three years. The information I've learned from this book has had a positive impact that's already helped increase my profit line.

"Short-Term Trading in the New Stock Market" is a great trading resource. It belongs on every trader's bookshelf.

Toni Turner has written an overall informative and fairly comprehensive guide to investing in the stock market. If you have read a lot of other investment books, you won't find a lot of new material in this book. But, as with most books on trading, there are almost always a couple of little gems hidden in the pages that justify the expense.

This book is certainly a good 'primer' for anyone just getting into investing or who wishes to get past just sticking money in their 401K account. It is a good next book past "Investing for Idiots," and a good prerequisite before tackling a book like John Murphy's "Technical Analysis of the Financial Markets."

For those more interested in simple, long-term investing, I would recommend a book like Leslie Masonson's "All ABout Market Timing."

September 2011 Update: I am not sure the same principles apply in today's economic climate as when this book was published. This book came out when many stocks were trending upwards. While many of the observations in this book are valid, I think you should also read more up-to-date books by people who are writing from experience and not from hindsight. I still think Investools training is great if you are serious about the stockmarked, in addition to reading books such as these. Investools is owned by Ameritrade which offers free training (fantastic).


Original Review:

I've just been introduced to the Investools.com course, took their 2 day training, finished their online training, and am still studying the subject.

The title of this book described what I was looking for after the above activity and it proves to tie information together, plus provides direction and greater depth.

I am a technical writer by trade and based on that, am amazed at the clarity and amount of detail Toni Turner packs into each paragraph. Because of that, this shouldn't be the first book to introduce you to the subject, but it should be among the first books you read. If you are already a successful, experienced trader, I'm not sure of its value unless you are switching from a "buy and hold" mold.

My approach to this book is to do a 100% read-through, marking pages of particular interest, then returning to those pages of particular interest, along with other activities on Investools.com (which, itself, seems to be a worthy educational tool).

This was an awesome book, and I highly recommend it to any trader, new or seasoned.