Customer Reviews

What Works in Online Day Trading

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

 

 

I have read many "trading" books, and find this one a pleasant suprise. Section Two includes a good source of trading strategies that work, each one written by people who actually trade. Strategies covered include 1) pure price action by Gary Smith, 2) breakouts by Mark Seleznov, 3) seasonals by Steve Moore, et.al., 4) patterns by Mark Etzkorn, 4) springs and upthrusts by Hank Pruden, 5) Bow Tie patterns by Dave Landry, and a few others.

The strategies include a good summary of setups, entries, stops, and exits. These summaries are general enought that you can program them in most any backtest software you use, not just Tradestation or C++. I use them to backtest with TC2000 and TC Companion.

The book also has very good information on risk mangement, the mechanics of trading and the mindset of different trading styles.

The great thing about this book, is that it is a well integrated compilation of tools and techniques from a variety of well known and/or highly successful traders. The editor did a wonderful job of taking this diverse group and integrating the book into a very logical and usable flow.

While it may be too much for the pure beginner, this book will be most appreciated by the intermediate to advanced trader.

This is not your ordinary trading book, but one that teaches some real "usable" techniques. The book is broken up into chapters written by different people, so the tone of voice will change frequently. The prize of this book is the Seleznov breakout method, which anyone can use to trade profitably for life. That alone is worth thousands of times the price of this book. I'd recommend this for any serious amateur/semi-pro level short term trader who may be lacking a consistent trading system.

This is an eclectic book. It doesn't focus on a major theme and is a collection of different people's views plus the author's.

I would not recommend this book for beginners who want to learn the basics because I don't feel the foundation is thorough.

It is a good book for those who want to see how others trade, their diverse techniques, and their opinions on trading. Also of value are the risk management techniques.

A more appropriate title would be: Different techniques by various traders and other trading tips.

This is a good book that tells it like it is. It made me stop and think before I risked my money in the stock market. It was written by a group of writers who seem to know their stuff. It talks about a subject which many day trading books do not! It is risk mgmt. If you wanted to learn about NASDAQ, this is a good book. If you wanted to learn about the NYSE, I would read another one. The thing though is the diveresity in topics covered in this book. I do recommend it to begginers and intermediate traders. Beware that after reading this book, you may end up postponing your plans to trade in a rush.

I think this book is a good book, although some chapters are weak. There are some inspirational ideas on day trading other books didn't mention. I would recommended this book to people who just started day trading!

This book has strong and weak chapters and average usability. It consist of a mixture of good advice: "Nervous money tends to become some elses money", long and tideous explanations on online technology, lame explanations about charts: "The vertical (Y) axis shows the price level, and the horisontal (X) axis shows time"...if you did not know this or could not figure it out yourself, you should nok trade at all.

Stronger chapters looked at risk control & money management and some interesting interviws with for example Linda Bradford Raschke. Also a chapter by Hank Pruden (follower of the Wyckoff method) was great. Dave Landry (The Bow Tie System) also contributes, but many of the methods can be found on the Internet. Just type "Bow Tie Patteren" and you will be greatly rewarded for free :)

The money management section helped me a lot and if you have not figured out that theme yet I would buy this book only to read those 42 pages.

I decided to give this book a chance in providing me essential elements of a typical intraday technical trading system. Sure I wasn't expecting a copy-paste daytrade system that suits everyone.. if there ever was one...
It's just, if you're starting out in daytrading (asuming you've been doing numerous of position & swing trades) looking for honest information, this book does the job. Eclectic but essential and honest. The actual job of creating a profitable system, simple or complex, still is yours.. .