Customer Reviews

The Compleat Guide to Day Trading Stocks

5 star:		(10)
4 star:		(0)
3 star:		(0)
2 star:		(1)
1 star:		(3)

 

 

A great book! Easy to understand, fast paced introduction to trading. I have read some other books that seem to repeat the same thing over and over through half the book, before getting to the nuts and bolts. But this one is constantly smooth to read from start to finish. I couldn't put it down till I was done.

This is an excellent book. I would recommend this book to anyone who is willing to work at day trading. This isn't a book that promises riches in a few easy steps. At the start of the book, the author writes: "If you seek success as a day trader, you'll have to make your money the good old-fashioned way: you'll have to do some work."

In addition to doing a good job of providing an overview of several technical indicators (including lists of the PROS and CONS of each one), the author devotes several chapters to detailed explanations of various approaches.

He also provides information on (the indispensable idea of) system development, practical considerations of day trading, and the psychology of day trading.

Again, to anyone who is serious about day trading, I would HIGHLY recommend this book.

The Compleat Guide to Day Trading Stocks is just that: one of the most complete and very best books ever written on the subject of day trading. Its highly regarded author, Jake Bernstein takes the reader from the very basics such as realistic risk/reward considerations, the essential mechanics of trend-following systems, fundamental vs. technical analysis, timing indicators, stochastics and charts, all the way to clear and precise systems and methods as well as the Psychology of Day Trading. He goes out of his way to make sure that the reader is absolutely aware of all aspects of day trading before making a commitment - including the long and painful learning curve that is inevitable - and clearly states who should not undertake day trading. Having said that, if the reader understands this, and is still firmly committed to making day trading a success, Mr. Bernstein gives his utmost support by going deeply into the nuts and bolts of the art by providing a solid foundation with proven strategies that can be thoroughly back-tested. This is really the most beneficial part of the book for the experienced investor, and is that which sets it apart from the many more general works on the subject. The reader is encouraged to learn and test these methods and systems and to incorporate the ones that are best suited to his/her own investment style. Pitfalls are clearly stated and the writing is extremely fluid and easy to understand. Best of all, the reader subconsciously develops the proper attitude that is so essential to succeed - that day trading should be treated as a serious business which can and will only be successful if done with the proper frame of mind, diligence, hard work, and risk management as well as a dedication to discipline. I highly recommend it!

This is the second Jake book I had read up till now. The first one is "Investment Quotient" which I gave my highest rating. That does not lead to my negative comment on this one because of over expectation. It's just that the content and quality of this so named guide just cannot be described as compleat.

In one single book of only 200 pages, Jake tried to discuss many important elements of day trading, including history, mechanism, player characteristics, market structure and even sophisticated technical tools like Stochastics, MACD, Momentum, various forms of Moving Average and even AI. The problem is: he tried to cover so many things that the whole book becomes very shallow and far from what is needed for this highly risky game.

I dont understand why many reviewers gave this book such high ratings. I am afraid that many amateurs had already been lured to enter the game under the false illusion that they became better, if not well equipped, after reading this book, and had already fallen prey to the market crocs.

Although there is much informative basic material in this book, I cannot stand the fuzzy math this author uses. The percentage gains he reports in some of his examples are blatantly deceptive. An example is Fig. 5-10, where he shows the possible gains achievable using the "gap" method. He quotes a profit potential of $21062, which I dont dispute. However, there is no mention of the actual money necessary to make the trades shown, which is probably somewhere around $30,000 (minimum). This would yield a profit of around 67%. The figure, however, quotes a profit return of almost 700%!! Whether or not these figures are his, or if he borrowed them from another source does not matter. He should know better! This sort of misleading "fluff" does nothing but confuse the amatuer and leads to the expectation of gains much better than realistically possible with a small account balance. Throughout the book, math like this is used to over exagerate possible gains from day trading.

This book is very well written. It kept me interested from cover to cover. I discovered that the pratical usages of Jake's suggested signals, indicators and chart patterns work wonders! The rules of the game are explained clearly. The odds seem more in my favour much more than ever now. I have read other daytrading books, but this book has restored the speculative drive in me with new fervour....and positive results! No, it's not a get-rich-quick book, but it is down-to-earth, accurate & beneficial. Highly Recommended!

This is an excellent work. As one who is considering a career change to day trading and has read many books on the subject, I can attest to the fact that this book, unlike most of the others, is a cogent, scientific study of short-term trading. Mr. Bernstein illustrates precise trading systems, with entry, exit and stop-loss indicators, and sets forth the results of his backtesting, all in a clear and very readable style. I highly recommend it.

THIS IS A GREAT BOOK TO GET ANSWERS TO QUESTIONS ABOUT SHORT-TERM AND DAY TRADING. THIS BOOK TELLS YOU WHAT YOU NEED TO KNOW AND IT EXPLAINS HOW TO GET WHERE YOU WANT TO GO. THE AUTHOR DOES NOT TELL YOU ONE METHOD OF TRADING. HE LAYS THEM ALL OUT FOR YOU TO DECIDE WHICH METHOD BEST SUITS YOU; WHICH IS THE KEY TO SUCCESS IN ANY ENDEAVOR. MR BERSTEIN IS A VETERAN AND HE TELLS YOU WHAT HE THINKS. TO ME THAT MEANS A LOT.
THE WEALTH OF INFORMATION IS ASTOUNDING.
A MUST READ.

Although its getting a little old, the advice Bernstein lays out in his book is all useful and keeps you thinking. "Day Trading Stocks" is one of the few books that gives clears entry and exit systems with no fluff or filler.

This book reflects independently many of the successful techniques I have used to day trade to achieve a profitable 80% win rate. You must have the discipline, patience, and persistence to day trade successfully. You must remain sensible and rational in your approach to day trading. "Organization, self-discipline, and experience will be your greatest assets." "You need to implement your trades with consistency, objectivity, and accuracy." "If you trade with the existing trend, then the odds will be in favor of your making a profit." Buying on support in an uptrend and going short at resistance in a down trend are high probability trades for profit. the author suggests that buying on an extreme gap down or going short on an extreme gap up at the open is a high probability way to make profits. You will learn a method called the one hour breakout which uses the closing prices in first five minute increments in the first hour of trading, this is a very powerful method for catching the daily trend. This book explores the psychology and risk management involved in day trading along with many strategies for being successful. I recommend this book for the beginning day trader or for any of us needing a refresher course to get back on track..