Customer Reviews

Stock Trading Wizard : Advanced Short-Term Trading Strategies for Swing and Day Trading

5 star:		(41)
4 star:		(2)
3 star:		(3)
2 star:		(8)
1 star:		(5)

 

 

I've got to be honest, after reading the other reviews of this book...I had expected alot more information on daytrading entry/exit techniques. This book covers alot of BASIC technical analysis, which I don't have a problem with per se. Keeping things simple is often key in trading in general, but he doesn't provide many examples on an intraday basis. There was really very little helpful daytrading information in my opinion for anyone who has more than a rudimentary intraday trading background...My biggest problem is with the price. This book should be somewhere around $30 at best. If I had paid that much, I wouldn't be as annoyed as I am right now...I found Tony's other book that provides a day-by-day commentary in a real life trading environment much more useful...I would stay away from this one unless you are a complete beginner...I blew through it in a few hours and I'm no expert in an intraday time frame...

By: Mike Haran - TradeHard.com

Stock Trading Wizard is a very useful book for the simple reason that it's easily understandable. There are so many books about trading that require an advanced mathematics degree just to get through the books' Table of Contents. Mister Oz, on the other hand, describes both simple trading principles and more advanced strategies in a way that all traders, both new and experienced, can easily digest.

The first portion of the book covers many basic principles including: The various types of order entries and how to use them. Supply and demand analogies, and Simple technical analysis patterns.

Following the basics are more advanced concepts including: Advanced technical analysis patterns and which trades to make based on them. A description of using Level II and ECNs and how to take advantage of them. How to compete with Market Makers and how to recognize their tricks.

As you move past the book's centerfold you begin to see the real beauty of the book: a description of how to trade for a living. This section alone is worth the price of admission as Mister Oz describes what it takes to become a full-time professional trader. A sample of the topics include: How to keep your ego in check. How to supervise your account. How to plan your day, and day trading versus swing trading

The book's finale is a case study describing the anatomy of a typical trade. The author uses pages and pages of charts and Level II snapshots to show us in a step by step manner how he studies, enters, supervises, and then closes out a successful daytrade.

To summarize, I'd recommend this book to anyone interested in trading, Stock Trading Wizard will be especially useful to you if you are looking to get serious about your trading. If you have strong a desire to develop the skills necessary to trade successfully, this book is a very good place to start.

I just finished reading this book on short term trading stategies.

Section One covers basic information about the stock market, order types and stop losses.

Section Two covers basics of Technical Analysis. He basically deals with price and its patterns, volume, support and resistance, moving averages, RSI and some of the most popular TA patterns. I like his style because he uses only the basics that I listed above. In his opinion those are all you need to make good trading decisions. His descriptions are easy to understand and would be great for someone unfamiliar and a good brush up for an intermediate. Someone well versed in TA probably wouldn't learn anything new here.

Section Three is an introduction to Level II. Again his explanation is easy to understand and was very valuable for me. He doesn't just describe what it is, he also talks about the major market makers and some of their tricks. I would have liked to see him go into even more detail here although he talks about it more in the last section of the book.

Section Four deals with the order routing systems, those being SOES, SelectNet, ECNs (talks a lot about ISLD), ARCA and even playing market maker yourself. He has a very helpful list of which order routing system to use for different situations. This is very valuable and timely for me since I'll be switching from Datek to MB Trading.

Section Five is Trading for a Living and I was pleasantly surprised at the good practical information provided here. He talks about research, strategy and execution. I've been lacking in strategy and learned some things here. He also talks about quite a few other things like money management, winning streaks, losing streaks (that explained a few things about my recent past!), dealing with pressure, scanning formulas, learning and high versus low price stocks (interesting), among others.

Section Six is a day trading case study where he goes through a day trading Yahoo as a day trade. He mainly goes through what he sees on Level II and the decisions he makes because of it.

I liked this book because most of the things he talks about are geared toward short term trading as opposed to scalping, which most of the day trading books are geared towards. The case study of Yahoo at the end of the book is a day trade looking for 2-4 points which is kind of between a scalp and a short term trade. He has a simple no-nonsense approach to trading and money management that I found appealing. He doesn't seem to be selling a system or trading course like so many other books do although he does have information on his seminars at the end of the book.

If I was to keep this review short and to the point, I would say that I wish I read this book 3 years ago. It would have saved me a fortune. I want to compliment the author on a strong, simple, yet powerful presentation. I am a technical trader myself and I enjoyed all the illustrations of the technical set-ups the author presents in the book, but I really enjoyed and already profited from the trading for a living section of the book.

I bought this book because my friend, who took Mr. Oz's stock trading seminar, recommended it. She told me that this book is a TEXT book for daytraders. She is right, but I think it is more than a text book. It is a REFERENCE book.

For what it's worth, I recommend this book to everyone who is serious about trading stocks. Again, I take my hat off to Mr. Oz for a masterful job on this one. Thank you for a Great Great book. When I finished reading the book, it all clicked together and I feel confidant with every trade I make. It is a great feeling.

With all the different books on day trading currently available on the market, it is really hard to choose the best one. If you are reading this review, look no further. This is the book to buy.

I really enjoyed Tony Oz's book because of the following reasons.

I. The book is very well written and the ideas and strategies are featured in a very simple to understand manner.

II. The illustrations are numerous and of high quality. The case study at the end of the book is so good that it made me feel as if I was watching a thriller on TV.

III. The author covered an area that I have not seen in any of the daytrading books, where he talks about cost averaging for wealth creation through trading the spiders as a long-term investment vehicle. This chapter was fascinating to me and was worth the price of the book by itself.

IV. I loved the entire section, "Trading for a Living" it contains the details of the essentials to successful trading. The author walks you through stock picking methods and trading strategies.

V. The number one reason I enjoyed this book is because the author tells you straight-out, "This is How I Make a Living Trading Stocks" No other book I have read delivers on this important aspect of day trading.

I feel that this book is very well rounded. It is like having the best of all the trading books put into one. The book contains enough substance to help you become a successful trader if you read no other.

If you want to trade stocks for a living, this book is a must investment.

One more thing, I felt that this book is the first of many which presents daytrading as an honorable profession and actually shows what successful daytrading entails. Maybe the public will, finally, also see it this way.

I bought this book because I read the following review by Garbis from Chicago, "This is the best trading book, of many, which I have read over the past 14 years as an investor and a professional trader. It is the only book which not only describes the many facets of the otherwise complex business of trading, but also goes beyond the academic, and into the PRACTICAL realm! It is written with the benefit of years of a pro's experience, but presented in such manner so to benefit beginners as well as seasoned traders. I highly recommend the financial and the time investment necessary to acquire, read and STUDY this "how to" manual."

I have to say that I really enjoyed reading this book and have implemented the strategies it features successfuly. I will not be surprised if the copy I have in my posesion will be worth a fortune one day. This book is destined to become a classic.

Advanced short-term strategies? Please... Most of this book is lightweight technical analysis and basic Level II reading. The problem with all of these daytrading books is that there's not a single advanced book out there that's any good; you even have futures traders who think they can write about day trading stocks. You're paying more than 90 bucks for 168 pages of large print text. I recommend that you go to the Underground Trader site and pick up the manual there - short and sweet, covers all the aspects of sound day trading techniques.

If you want to know what a SUCCESSFUL stock trading system is built on, study this book. The author did a great job on this one. It is only 187 pages, but each page is powerful. The book answers the question, how do you do it? This book is as powerful as you would want it to be, and every time you read it, you will find "new" stuff that will help make your trading system more profitable. I agree that the editing in this book was not top notch, but this book is written in such a simple way that an 8th grader can easily understand it.

I also recommend "Building Blocks for Successful Day Trading" by Tony Oz in which the author takes you through the most common mistakes he has made as a trader. I can't find a listing for this book on Amazon.com, it was published by JHP Productions, the ISBN is 0-9673862-1-7. I received it from my online broker when I opened an account.

Another good book is Toni Turner's "A Beginners Guide to Day Trading Online." It is not as good as "Stock Trading Wizard," but should still make it to your library.

I am a successful day trader. This book contains essential information for all day traders. If you are already a successful day trader, you probably already know almost all of this information, but if you are not, then there are things here you need to know.

The reviews that complain about the substance or the lack of advanced Technical Analysis interpretation miss the most important thing about this book: it has all the basic information you need to be successful. The reviewers that complain about the lack of more detailed TA are complaining because they have failed to understand the basics and are not equipped to create their own TA strategies based on the basics. Nobody is the same, nobody trades exactly the same way, and if everyone that day trades did the same thing at the same time, there would be no day trading.

If you want advanced TA, get "The New Science of Technical Analysis" by Thomas R. DeMark. If you want to know all the basics and be ready to take money away from day traders who don't understand what is happening, this book is worth every penny.

I really enjoyed this book because it shows how to use basic elementry trading strategies in a very profitable way. Just like the author, I too use basic technical analysis to choose my entry and exit points. I have been very successful in using similar strategies to the ones the author features in his book, and in all my trading experience, I have come to realize that simple works. I found the section on Level 2 quotes to be very informative, but I have not used Level 2 quotes yet. I might do so in the future. My favorite section was the trading for a living section of the book. Great lessons on money management which taught me about the sweeping philosophy. In conclusion, I feel this book shows how to successfully trade stocks in the simplest most profitable way. It will be well worth the money to you if you are willing to study and implement these strategies. As to me, the one chapter on money management was worth more than the price of the book by itself. I think you will read this book more than once.