Day Trading For Dummies (For Dummies (Business & Personal Finance)) [Paperback]

Ann C. Logue MBA (Author)

Book Description

Publication Date: June 7, 2011 | Series: For Dummies (Business & Personal Finance)

In an ever-changing market, get the advantage of trading for yourself

Day trading is undoubtedly the most exciting way to make your own money. Before you begin, you need three things: patience, nerves of steel, and a well-thumbed copy of Day Trading For Dummies?the low-risk way to find out whether day trading is for you.

This plain-English guide shows you how day trading works, identifies its all-too-numerous pitfalls, and gets you started with an action plan. From classic and renegade strategies to the nitty-gritty of daily trading practices, it gives you the knowledge and confidence you'll need to keep a cool head, manage risk, and make decisions instantly as you buy and sell your positions.

• Advice on choosing an online broker
• Updated examples reflect current market and economic conditions and the latest information on SEC rules and regulations (and tax laws)
• Other titles by Logue: Hedge Funds For Dummies, Socially Responsible Investing For Dummies, and Emerging Markets For Dummies

Read Day Trading For Dummies and get the tips, guidance, and solid foundation you need to succeed in this thrilling, lucrative, and rewarding career!

Editorial Reviews

From the Back Cover

In an ever-changing market, get the advantage of trading for yourself

This plain-English guide shows you how day trading works, identifies its all-too-numerous pitfalls, and gets you started with an action plan. From classic and renegade strategies to the nitty-gritty of daily trading practices, it gives you the knowledge and confidence you need to keep a cool head, manage risk, and make decisions instantly as you buy and sell your positions.

• Understand day trading — discover the fundamentals of day trading, from what it is and how it works to what to expect in the day of the life of a day trader

• Start strategizing — get the 411 on the different strategies and research techniques day traders use to determine how and when to buy and sell their positions

• Pick up the tools of the trade — find out how to set up your office to improve your response times, choose the support services you need to research trades, and get through the treacherous day with your sanity intact

• Get down to the nitty gritty — grasp the day-to-day "stuff" that separates day trading from other types of trading, like paying taxes on your gains, figuring out how well your day trading is performing, and much more

Open the book and find:

• Market indicators and day trading strategies

• Advice on how to manage money and your positions

• Key characteristics of successful day traders

• Guidance on understanding risk and return

• How to differentiate trading, investing, and gambling

• A look at rules and regulations

• Research techniques used in day trading

• Tips for managing stress in the trading day

Learn to:

• Get started with an action plan

• Avoid pitfalls

• Succeed in this thrilling, lucrative career

About the Author

Ann C. Logue, MBA, has written numerous financial articles on investment and is the author of Day Trading For Dummies, Hedge Funds For Dummies, Socially Responsible Investing For Dummies, and Emerging Markets For Dummies, all from Wiley.

Product Details

• Paperback: 360 pages
• Publisher: For Dummies; 2 edition (June 7, 2011)
• Language: English
• ISBN-10: 047094272X
• ISBN-13: 978-0470942727
• Product Dimensions: 9.2 x 7.3 x 0.8 inches
• Shipping Weight: 1.2 pounds (View shipping rates and policies)
• Average Customer Review: 4.0 out of 5 stars  See all reviews (34 customer reviews)
• Amazon Best Sellers Rank: #29,870 in Books (See Top 100 in Books)
  • #11 in Books > Business & Investing > Industries & Professions > E-commerce > Online Trading

More About the Author

Ann Logue is a freelance writer and consulting analyst who is fascinated by business and technology. Among her clients and publications are Barron's, The New York Times, Newsweek Japan, Compliance Week, and the International Monetary Fund. She also teaches finance at the University of Illinois at Chicago. She holds a B.A. from Northwestern University, an M.B.A. from the University of Chicago, and the Chartered Financial Analyst designation.

Customer Reviews

Most Helpful Customer Reviews

155 of 167 people found the following review helpful:

5.0 out of 5 stars More than for just Dummies, December 4, 2007

By 

Donald Padou (Washington, DC United States) - See all my reviews
(REAL NAME)   

This review is from: Day Trading For Dummies (Paperback)

I received this book as a gift and, at first, I was skeptical. I spent 20 years working for investment banks starting as a runner on the floor and retiring as the head of a trading desk. "What," I asked, "does this book have to teach me?"

Ah, beware of hubris! I was pleasantly surprised at what I learned. The book has a good introduction to how to obtain the sorts of information that a real day trader will need, but is best on the emotional. Emotions are almost always overlooked. I've seen lots of bright people rise to a certain point on a trading desk and then just implode because they couldn't handle the stress. And these were people working with other's money. It is even worse when it's your own dough on the line. The guy who practices day trading until he has his system all ready and then blows out a month after going live is very common.

Early in my career I started my own firm. This was before day trading was even technically possible and the firm was in the options pits. I got on the emotional roller coaster: on good days it was "Come on Honey, its steak dinner time!" On bad days I tried to save money by rationing toothpaste. It all ended in tears.

This is all by way of stressing the role emotions play in successfully trading the market. This book discusses strategies actually employed by some of the best traders on Wall Street and the book is worth looking into for that alone.

32 of 34 people found the following review helpful:

4.0 out of 5 stars A good start, January 9, 2009

By 

R. S. Wales (South Carolina) - See all my reviews
(REAL NAME)   

Amazon Verified Purchase

This review is from: Day Trading For Dummies (Paperback)

"Day Trading for Dummmies" gives the reader a very basic overview of the various stock markets and other financial instruments available for trading. It also discusses various aspects of technical analysis. Very clearly presented and useful information.

The only downside to the book is that the author constantly states that you should "pick a trading strategy and stick to it" but doesn't give any guidance about legitimate strategies. There are a lot of cracked pots who have written books on trading strategies. A book like this, designed for introduction, should give you a little more information about where to go for the next step in your trading education.

23 of 25 people found the following review helpful:

5.0 out of 5 stars Great for beginners, July 21, 2008

By 

Phil P (Apple Valley, MN United States) - See all my reviews

This review is from: Day Trading For Dummies (Paperback)

This book has been wonderful for me explaining the very basics of day trading! I would highly reconmend this book to anyone who wants to see what it's all about and how things work. It's obviously not meant to be a detailed book but more of "what this means and what that means". Perfect for dummmies!