Stock Patterns for Day Trading [Hardcover]

Barry Rudd (Author)

Book Description

ISBN-10: 0934380414 | ISBN-13: 978-0934380416 | Publication Date: April 6, 1999 | Edition: 2

This book describes the trading strategies used by a professional stock trader in his own trading. The ideas come both from friends who are successful traders as well as his own experience with SOES trading. The collection of trading patterns described represents one of the first full-fledged books of instruction on short term, swing and day trading in individual stocks. The author's intraday trend trading approach and his scalping method are both described in detail. He uses the setups daily in his own trading. This manual should prove valuable to the thousands of short term stock traders who seek to make their living from speculating on short term price swings. It is a toolbox for finding high probability trades for success as you trade the stock market. The technical ideas are primarily crafted around the personality of the NASDAQ market but may also be implemented in New York trades.

Editorial Reviews

Review

At last! A real book from a real trader! This doesn't belong on your bookshelf, but under your pillow. -- Neal Weintraub, Instructor & Floor Trader at Chicago Mercantile Exchange

Barry's chart patterns & trading tactics have been used by professionals for years. These skills can reap great rewards. -- Oliver L. Velez & Greg Capra, Editors of The Pristine Day Trader

Rudd's book illustrates chart patterns of top traders. They provide a solid foundation in technical analysis for day trading. -- Marc Friedfertig, Managing Member Broadway Trading, LLC & Author

About the Author

Barry Rudd, a native of Dallas, graduated with a BS in Psychology from Texas A&M University. Barry worked in the area of pharmaceutical sales after college. Over a ten-year period he traded stocks, options and futures on a part-time basis and finally became a private full-time investor. He currently day trades stocks, primarily NASDAQ issues, for a living. He has studied all forms of technical analysis and has found "Simplicity is your friend. I rely primarily upon specific daily and intraday price patterns to trade."

Product Details

• Hardcover: 224 pages
• Publisher: Wasendorf & Associates Inc; 2 edition (April 6, 1999)
• Language: English
• ISBN-10: 0934380414
• ISBN-13: 978-0934380416
• Product Dimensions: 11.3 x 8.8 x 0.9 inches
• Shipping Weight: 12.8 ounces (View shipping rates and policies)
• Average Customer Review: 3.6 out of 5 stars  See all reviews (9 customer reviews)
• Amazon Best Sellers Rank: #831,377 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

68 of 71 people found the following review helpful:

5.0 out of 5 stars Charts are the foundation of all daytrading systems, January 29, 2000

By 

Donald Lubben - See all my reviews

This review is from: Stock Patterns for Day Trading (Hardcover)

I've spent in the neighborhood of $500 on daytrading books in the past 12 months. If I could only purchase one daytrading book this would be the one. Over the past year of daytrading I've learned the three best tools for timing trades are 1 - real-time charts 2 - level II quotes & 3 - time & volume of sales. This book has more examples of charts than the other 10 daytrading books I own combined (that doesn't include Barry's second charting book which I also highly recommend). This book is all about keeping things simple. Forget about stochastics, MACD, & all the other things recommended in the Compleat Daytraders I & II books. Barry believes in the KISS method. Keep it simple stupid (thats my paraphrase of what he recommends).

Part of my enthusiasm for Barry's book has to do with my trading results before & after reading his book. Because his book was more expensive than others available I purchased some of the less expensive, introductory, daytrading books. I started trading & over about 7 months lost approximately $7,000. In the past 5 months (since purchasing Barry's book) I have become more patient waiting for the correct chart formations & have become a profitable, part-time daytrader. The $7,000 loss I had 5 months ago has turned around and become a $53,000 gain.

Some of this turnaround is naturally a result of my maturation as a trader. Everyone writes about having to pay one's dues, so to speak, to get an education in daytrading. I certainly did. However, if I could pinpoint THE major turnaround in my trading activities, it would have to do with reading Barry's book.

Can I give this book six stars?

54 of 57 people found the following review helpful:

1.0 out of 5 stars Less than impressed, May 19, 2000

By A Customer

This review is from: Stock Patterns for Day Trading (Hardcover)

I purchased this book based on the glowing reviews that it had received. I have a different opinion after reading it. This is what you receive for your 95 bucks: advice to buy breakouts and about a hundred charts showing what breakouts look like. I believe you can get this knowledge free on the net. The vast majority of this book is pictures of charts that show breakouts. A more reasonable price for this book would be 19.95. At 95.00 it is way overpriced. If I would have looked at this book first at a bookstore, I would not have bought it. The value is not there. If the book was priced reasonably, I would not be writing this review.

Can this book make you a better trader? Perhaps, but there is free information on the net that is better. Another reviewer represents the daytrading university. I looked at that site and it looks like the 69 bucks for 4 months enrollment there would be money better spent (disclosure: I have nothing at all to do with them, I might enroll if I can get my money back for this book)

Before you spend your money on this book, buy Tony Oz's book and Dr. Elder's "trading for a living". In my opinion these are two far superior books. Both of these high priced books are well worth the money. You gain knowledge that is not available anywhere else.

I hope the author does not take it personally, but when you price a book at a hundred bucks, you better deliver something very special. If you are thinking about buying this book, see if you can look at a copy first at a bookstore or library before you decide.

15 of 18 people found the following review helpful:

3.0 out of 5 stars Fair, but not all that informative, August 25, 2000

By 

P. Weaver (Chapel Hill, NC United States) - See all my reviews

Amazon Verified Purchase

This review is from: Stock Patterns for Day Trading (Hardcover)

Perhaps my expectations were too high, but I thought that this book would include numerous day trading patterns. The main advice given is to buy the breakout after the price has been steady for a period. The book does have a lot of good charts showing setups to stay away from, which is why I gave it 3 stars, but I didn't think that it was worth the price.