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401(k) Day Trading: The Art of Cashing in on a Shaky Market in Minutes a Day Hardcover – October 4, 2011
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From the Inside Flap
Such a daily ritual taking only minutes a day could alternatively be described as "everyday trading." With this approach, you won't have to sit around at your computer to execute trades all day. Instead, you simply execute a single daily fund exchange in 401(k) and other types of retirement savings accounts on your way to a more secure retirement.
Based on years of experience consulting on retirement plans, author Richard Schmitt offers investors a clever way to enhance the returns on their retirement savings in 401(k) Day Trading. This book takes you on a backstage tour through the environment, rationale, and process for day trading a retirement portfolio. Its approach to buying low and selling high through quick daily fund exchanges draws on many of the fundamental principles of investment management to exploit daily market volatility. This day trading method uses basic arithmetic to set up and capture stock market gains in a wobbly market from once-a-day fund exchanges within the unique framework of retirement savings plans—where trades do not trigger immediate taxes or direct trading costs. Engaging and informative 401(k) Day Trading:
Offers the do-it-yourself investor, novice and pro alike, fresh direction on trading and managing 401(k) and other retirement savings accounts, such as IRAs, 403(b), and 457 accounts
Highlights real opportunities to earn better returns through retirement portfolio management in the current type of market environment of high volatility and no apparent direction
Provides a proven and accessible approach to navigating the road to retirement funding
And much more
In addition to describing the process and nuances of day trading retirement savings, this book also introduces you to some of the basic tenets of investment management that apply to this form of trading and touches on essential topics ranging from expense management to seriously saving for retirement.
Until now, day trading 401(k) accounts has been somewhat of a dirty little secret that plan administrators would rather you not know about. But the fact is that 401(k) and other retirement savings plans offer favorable conditions, which make it possible to derive value from each daily trade over the long term. Isn't it time you took control of your retirement destiny by following a strategy that works in the type of bumpy market environment that has put us back where we started over a decade ago?
From the Back Cover
"During extended periods of sideways market returns and high volatility, investors need a strategy to preserve their retirement savings. Rick Schmitt's trading system combines systematic dollar cost averaging with contrarian investing to grow savings for those investors who have the willingness to opportunistically restructure their 401(k) accounts and the discipline to follow a long-term plan."
—Jim Koch, Founder and Principal, Koch Capital Management LLC
Top Customer Reviews
Now, after carefully reading the book several times, and actually applying it in practice by managing my 401(k) portfolio, I need to say what might not be for everyone. I believe your IQ should be above average, you need to be able to work with spreadsheets, formulas, i.e you need to be mathematically savvy if you want to do it yourself. You might delegate to do the trading to somebody else, but you will miss a lot of fun doing so.
First, let me tell you that this book helped me to understand investing in general and retirement investing in particular. At the beginning, I thought this approach is too good to be true. Beating S&P 500 consistently over several years is not what I've done in the past. So I was kind of skeptical that this might be true. Then I took the S&P 500 historical data starting from 1995 and have done simulations as if I've applied Richard Schmitt's approach to 401K investing. You can find my simulations on the blog site I created (see my profile link). The only period I see where the Schmitt's approach did not work was the period of continuous growth of stocks: from 1995 to 2000. But this was not a period of a "shaky economy" that we are in right now.
Second, I am working with this system every day since the end of 2011. The only difficulty I see for those people who would try this system having only two retirement accounts.Read more ›
I bought this book to see whether there were some techniques I did not imagine. There weren't.
Bulk of book is palaver and useless story telling. Content is sparse.
Essence is a daily rebalancing scheme likened to dollar cost averaging.
Minor disclaimer that this scheme will work in trendless markets.
Under performs when market goes one way for a year or two.
Author notes the difficulties that funds and employers have raised to stop frequent trading. He recommends a convoluted two account approach. Might work if you have two retirement accounts of roughly equal size.
It just seems like a way to write a book with a provocative title and gather whatever royalties are available for little useful content.
Of course, its unique take on the use of fundamental investment principles (with a twist) to harness wobbly market conditions for financial gain gives new meaning to managing retirement savings. Out with old buy-and-hold strategy and enter a new era of everyday trades taking just a few minutes a day. Then simply let the basic arithmetic take over to sow and harvest gains from buying low and selling high in a choppy market. "401(k) Day Trading" even describes how to smooth out the speed bumps that would otherwise thwart it within all types of retirement savings accounts. Thanks to you...Professor Schmitt, for sharing your strategy in a refreshing way that anyone...even this "savvy investor"...saving for retirement can appreciate and benefit from...time and money well spent.
Buy when the stock market is down, and sell when it goes up. It all sounds so logical, when you observe the market going up and down every day. The story gets even better when you consider that your gains won't cost you any more in current income taxes or direct trading costs. This book offers a fun read in explaining what, when, and how much stock to buy and sell in retirement savings accounts to come out way ahead of the game. Check it out now.
Most Recent Customer Reviews
This book is well written but most of it is just definitions of financial terms. When you do finally get to the meat of the book you realize you need two or three retirement... Read morePublished on March 9, 2013 by chris
401k Day Trading is an easy to read book which demystifies retirement savings management for people with little time and even less investment experience or confidence. Read morePublished on January 22, 2012 by Joan