How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology Kindle Edition
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Professor of Finance, Northern Michigan University
"Andrew represents everything you would want out of a leader. He has given so much to many people by creating Bear Bull Traders. Thanks to this initiative thousands have become empowered, which otherwise would have been much harder, and this has generated a win-win situation for thousands of day traders. This is in essence one, if not, the most important quality in a leader, to be able to find opportunities to generate value for everyone involved."
"I highly recommend Andrew Aziz, Andrew's book (How to Day Trade for a Living) and the Bear Bull Traders online trading community (which Andrew founded and leads) for anyone interested in day trading. Andrew gives lie to the old George Bernard Shaw maxim, "He who can does; he who cannot, teaches" as Andrew certainly can, definitely does, and is also a very effective teacher who sincerely wishes to contribute to the success of others, not only through education per se but also via his curation of a community of traders whose synergies work to the benefit of all. The foregoing is effected with aplomb, charisma, the occasional dash of humor and augmented by a top-notch team of moderators in the Bear Bull Traders chat room, all of whom have their own individual trading styles and who are excellent traders and teachers in their own right. Really good, really helpful, stuff here."
Macro Economist, Market Strategist, Analyst, Equity and Bond Trader
"Andrew has an amazing ability of not only being a good trader but also an effective leader and communicator. Andrew's trading skills are displayed daily in his live trading sessions that he shares with the Bear and Bull traders community. His leadership and organizational skills are evident by the success, effectiveness and popularity of the Bear and Bull traders community. He also has remarkable ability to simplify complex concepts for easy understanding by trading community through webinars and via multiple popular books that he authored"
Technology Leader at AT&T
From the Author
At the beginning of my trading career, a pharmaceutical company announced some positive results for one of its drugs and its stock jumped from $1 to over $55 in just two days. Two days! I was a beginner at the time. I was the amateur. I purchased 1,000 shares at $4 and sold them at over $10. On my very first beginner trade, I made $6,000 in a matter of minutes.
It was pure luck. I honestly had no idea what I was doing. Within a few weeks I had lost that entire $6,000 by making mistakes in other trades. I was lucky. My first stupid trade was my lucky one. Other people are not so lucky. For many, their first mistake is their last trade because in just a few minutes, in one simple trade, they lose all of the money they had worked so hard for. With their account at zero, they walk away from day trading.
As a new day trader you should never lose sight of the fact that you are competing with professional traders on Wall Street and other experienced traders around the world who are very serious, highly equipped with advanced education and tools, and most importantly, committed to making money.
Day trading is not gambling or a hobby. You must approach trading very, very seriously. As such, I wake up early, go for a run, take a shower, get dressed, eat breakfast, and fire up my trading station before the markets open in New York. I am awake. I am alert. I am motivated when I sit down and start working on the list of stocks I will watch that day. This morning routine has tremendously helped my mental preparation for coming into the market. Whatever your routine is, starting the morning in a similar fashion will pay invaluable dividends.
Rolling out of bed and throwing water on your face 15 minutes before the opening bell just does not give you sufficient time to be prepared for the market's opening. Sitting at your computer in your pajamas or underwear does not put you in the right mindset to attack the market. I know. I've experienced all of these scenarios.
In How to Day Trade for a Living, I will show you how you too can take control over your life and have success in day trading on the stock market. I love teaching. It's my passion. In this book, I use simple and easy to understand words to explain the strategies and concepts you need to know to launch yourself into day trading on the stock market. This book is definitely NOT a difficult, technical, hard to understand, complicated and complex guide to the stock market. It's concise. It's practical. It's written for everyone. You can learn how to beat Wall Street at its own game.
And, as a purchaser of my book, I invite you to join my community of traders at BearBullTraders.com. You can monitor my screen in real time, watch me trade the strategies explained in his book, and ask questions of me and other traders in our chat room.
I invite you to join me in the world of day trading. I'm a real person who you can connect with. I'm not just a photograph here on the Amazon site. I love what I do. You can follow my blog post under Author Updates on my Author page on Amazon. It's honest. You'll see I lose some days. You can read the reviews of my book. I know you will learn much about day trading and the stock market from studying my book. You can join at no cost and with no obligation my community of day traders at vancouver-traders.com. You can ask us questions. Practical, hands-on knowledge. That's How to Day Trade for a Living.
- Publication Date : July 21, 2015
- File Size : 47692 KB
- Word Wise : Enabled
- Print Length : 384 pages
- Language: : English
- ASIN : B012C4AU10
- Text-to-Speech : Enabled
- Enhanced Typesetting : Enabled
- Simultaneous Device Usage : Unlimited
- X-Ray : Enabled
- Lending : Enabled
- Best Sellers Rank: #1,902 in Kindle Store (See Top 100 in Kindle Store)
- Customer Reviews:
Top reviews from the United States
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It’s a business. You are buying and selling a product. Reading this book, putting in training time and practicing your training is no different than any other profession. It’s all about knowing when to get in, when to stay, how long to stay and when to get out. We all know that a lot of business startup’s fail because they didn’t do their research on location and product offered. This is your opportunity to do the research on a specific type of day trading. I am opening my brokerage account and feel confident that I can make money doing this. When I say make money I’m talking 50K range not millions per year.
And for those that don’t like this book because it seems “negative” that’s because it is compared to other books that put a nice pair of rose colored glasses on your face and tell you anyone can do this and how you will make millions. This book, the morning chat room, the simulator are all real world and a lot of potential traders lose money because they don’t put in the time before they put in their money. Be smart and learn to do it properly first….or you could just send me your money and save yourself some grief.
This is what I consider to be a successful trade. I did my research in the morning before the market opened, this was one of my selected stocks for the day, spent time in the chatroom, we discussed trade possibility for the day, a list was compiled and based on all that information I shorted this stock for a quick $500 then got out for the day.
I will recommend this book to people who ask me how to begin day trading.
Top reviews from other countries
This was the second book I read about day trading and it is the best book out there for beginners.
I build software for living and I had a requirement to build scanner for gap up /gap down strategy for Indian market.
While researching for the above strategy, I thought of reading few books on day trading and that's how I came across this book.
The writing is simple and plain without any jargons.
Someone has rightly said, "Some books are to be tasted, others to be swallowed, and some few to be chewed and digested". This book falls into the category of chewed and digested.
For years, I had the impression that day traders are gamblers but this book has destroyed that notion. Day trading especially gapping strategy driven by catalyst is not gambling but statistical betting.
There are so many takeaways from this book that one cannot describe it in comments section. Grab a copy and do a favor to yourself by reading it. You can keep it as a reference book.
Note. My apologies for any typos as I am writing it while traveling using mobile phone.
I’m at the very beginning of learning about Day Trading and the stock markets, I haven’t even paper traded yet, but this book has filled me with ideas, potential strategies, a firm understanding and confidence in how to go about getting started. Can’t recommend this book highly enough