The Day Trader's Manual: Theory, Art, and Science of Profitable Short-Term Investing (Hardcover)

~ (Author) "This section is the first of three parts to this book..." (more)
Key Phrases: spread scalper, selective tape, bottoming action, Dow Jones Industrials, New York, Chicago Board of Trade (more...)

Editorial Reviews

Product Description

Presents day traders with a systematic and rational framework for decision-making in the futures, options and equities markets. Offers complete coverage of day-trading methods including price, time and volume analysis techniques, money and position management strategies, trading systems, computerized trading tactics and much more.

From the Publisher

Presents day traders with a systematic and rational framework for decision-making in the futures, options and equities markets. Offers complete coverage of day-trading methods including price, time and volume analysis techniques, money and position management strategies, trading systems, computerized trading tactics and much more.

Product Details

• Hardcover: 352 pages
• Publisher: Wiley; 1 edition (January 1, 1993)
• Language: English
• ISBN-10: 0471514063
• ISBN-13: 978-0471514060
• Product Dimensions: 10.2 x 7.3 x 1.1 inches
• Shipping Weight: 1.8 pounds (View shipping rates and policies)
• Average Customer Review: 2.0 out of 5 stars  See all reviews (10 customer reviews)
• Amazon.com Sales Rank: #983,027 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

12 of 12 people found the following review helpful:

1.0 out of 5 stars Too much Theory, June 27, 1999

By A Customer

I was looking for "How To" Day trading book. Reading this book was torture. I felt Mr. Eng was trying harder to impress upon the reader his vast knowledge of the theory of economics, rather than teaching one how to day trade. I admit, I couldn't force myself to read the whole book. By the time I finished part two, feeling I'd gained nothing out of those 186 awful pages, I moved on to more exciting authors.

8 of 8 people found the following review helpful:

1.0 out of 5 stars Not practical, May 21, 2004

By A Customer

I anxiously waited for this book to arrive and was disappointed. Though the material may apply to some traders, it was like reading a physics manual. Very little up to date practical info. Candlesticks are not discussed at all. This book may be OK for a casual look over, but there are far better books such as Profitable Candlestick Trading by Bigalow, Toni Turners books, Nissans Candlestick books, Elders books, The Disciplined Trader, The Market Makers Edge, and many others that get into the real meat if you want to learn the art of day, swing, and position trading. Trading is not a get rich quick scheme, it is not gambling, but rather a deliberate planned approach to trading stocks and futures for fun and profit. It takes a lot of hard work and years of study to be consistently successful. You are going to have to focus on the art of the trade, not the money to get it done. Reading all of the books you can find on the subject is definitely suggested. But this one, I cannot recommend.

11 of 12 people found the following review helpful:

5.0 out of 5 stars One of the best books on successful trading I've read, September 7, 1998

By A Customer

I'm an advanced trader and only bought this book because a very good friend who is a retiring physician suggested I do so. The book is written in three separate parts. The first part discusses the theory of day trading. The second goes into the details of applying current strategies. The third, and this is where the meat is, takes about 14 trading examples and applies the thinking process of how to trade to actual markets. This book goes far beyond what most other "how to" books on market trading is all about. The other books I've read goes and tells the intricate details of what techniques and how to use them. What Eng does in this book, and other books, is to tell how to use the techniques to make money. This is what I am, as a trader trying to make money, looking for. I don't want to know that a 7 day moving average is better than a 13 day moving average. I just want to know how to make money. Eng tells me how to do so without bogging me down with useless details. I hate to say it (and I wonder what readers of this will say) but most books on trading is really "masturbation of the mind." All play and no substance. Here, Eng gets down to the details: it's all in the management of the trade, once you have it on. This is what Eng writes about: manage, manage, manage. The last part, where the successful trades turn to profits, is where he guides me through the successful management of the trade. I think most beginning traders will find this book to be too advanced because it concentrates on how to make money and it doesn't concentrate on how to make the reader a proficient technical analyst. Take it from me, I've spent years learning about moving averages. It's only when I figured out that I had to do something to make the trade profitable that I started to really make a lot of money. Eng might be too far ahead of the curve for the rest of the readers to figure out. I've read some of Eng's works and he does go into tremendous details in his other books. In this one he does token explanation and focuses on the management of the trade. As far as I know there are no books out there by other writers that concentrate on the real money-making aspect of trading. I spent years learning the details, but in this one book Eng makes it very succinct: it doesn't matter what techniques you use, just use them, and then successfully manage that trade to money!! In my library this book is highly ranked.