Category — Book

Mastering the Trade McGraw Hill Traders Edge

Expert tactics to become make the most of every swing trade

In Mastering the Trade, veteran trader and educator John Carter shares his hard-won five-point technique for successful swing trading. In addition, Carter helps you move to the next level of confidence by explaining how markets really work and detailing behind-the-scenes market mechanics.

User Ratings and Reviews

5 Stars A Must Have for All Traders
This book is a must for day traders. Carter’s set-ups for buys and sells are amazing. Since reading and studing his methods I have almost doubled my daily revenue and looking at 6 figures this year.

If you only read one book (and I have read many) this simple to understand and well documented text will serve you for the rest of your career in the market.

4 Stars its a grate book, for new traders
i have been trading for 2yrs, so im a new trader, this books helps alot, and it convince me to switch from stoks to futers, its toold really help2. i loved the ttmsqueeze. i also found tradestation a grate trader platform, your going to love using the simulator.

3 Stars Mastering The Trade
I was excited to receive this book because it is written by a seasoned professional and as such carries a lot more credibility than one from someone who never actually managed money. I am a money manager and systems developer myself and have managed huge positions and had many hundreds of clients. The first few chapters of the book cover some basics particularly those relating to psychology and setting up to trade. All of it is good. The section on computers is as would be expected for a book published in 2006. Then the book gets into some areas of trading. Chapter 5 is excellent and covers various breadth and/or market internal measurements. I found this chapter to be worth the price of the book as I have always traded with breadth and it was very nice to catch some differt viewpoints and ideas. John Carter is not a systems trader and I am. I code everything and test it extensively. Mr. Carter is a discretionary trader and as I started to code his methods (Part two) I found them to not hold up very well to the scrutiny of computer analysis. The concepts are still of value though, so I still recommend it as excellent reading and a wide array of excellent trading ideas that could be built on. Many times it is the process in the thinking that is of more value that the content itself. So, if you are inclined to purchase the book to find instantly useable trading ideas, you might come up short. But, if you want something that might inspire some of your own brilliance, of course, you may just find a jewel or two. Section three of the book covers more on planning, psychology and the game of trading. This is an excellent book for any level of trader.

1 Star please don’t waste your money
I read this book as a favor to a greeny (the term I use for newbie traders) who wanted my opinion of it. While there are some decent trade observations in this book it is far from containing any original material. Most of the ideas and indicators have been lifted for other peoples ideas, which can be found free and easy with a little research. For example the type of gap play he decribes in this book (and gap theory for that matter) have been around for a min of 40 years and derives from old school pit traders. At least that’s how I first learned of the strategy. Playing the gap is trading 101 when you first study classic charting techniques, or akin to the old axiom “always fade the first move”. Please do not try these techniques unless you know what your doing, you will lose. Trying to put a rigid formulae on a gap play, like this book does, will put you in the poor house. Markets change constantly. Strategies must be adabted with those changing conditions. While I’m not sure I want to go as far as saying he’s a huckster, I’m fully confident in saying he has taken other people ideas and passed off them off as his own. Perhaps a good businessman but unlikely a good trader. At least if Mr. Carter us practicing some of the ideas in his book.

5 Stars Required in my opinion but the setups themselves don’t seem great
I read John Carter’s book “Mastering the Trade” from cover to cover. There is a tremendous amount of detail in his book. And plenty of it is very useful or even necessary to know if you want to trade full time in my opinion. As a matter of fact, I think after reading a bunch of books on trading, that one book singled out some weaknesses I had in my trading I was finally able to identify. I believe the book gives you a good frame of mind with which to look at the markets. However, I tried to quickly find some of the trade setups described in his book and found at least from a rapid, superficial look, that his trade setups don`t seem to be that promising. But, the book gave me a good idea how some technical indicators work. His ideas combined with ideas from Oliver Velez, Alan Farley, Josh Lukeman and Dave Landry (to name a few) make a powerful combination.

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High Probability trading

A common denominator among most new traders is that, within six months of launching their new pursuit, they are out of money and out of trading. High-Probability Trading softens the impact of this “trader’s tuition,” detailing a comprehensive program for weathering those perilous first months and becoming a profitable trader.

This no-nonsense book takes a uniquely blunt look at the realities of trading. Filled with real-life examples and intended for use by both short- and long-term traders, it explores each aspect of successful trading.

User Ratings and Reviews

5 Stars Don’t just read this book – study it
I have a small collection of books on stock trading. For the most part they tell me what other people did to be on the payday side of the market. Some are specific to a set of methods (How To Make Money In Stocks: A Winning System in Good Times or Bad, 3rd Edition), others are good read on what a trader should know, practice, do or not do (Invest Like a Shark: How a Deaf Guy with No Job and Limited Capital Made a Fortune Investing in the Stock Market).

Marcel Link takes a practical approach to high probability trades. The basic idea:

You are a good ping pong player who beats all the neighbors in your basement. Do you think you would do well at the US Open?

Last weekend you managed not to drown while crossing the 25 yards of your local pool. Do you think you can beat Michael Phelps?

What is the probability of a positive outcome of one of the above? Yet that’s exactly what we do when we jump into the stock market and lay our hard earned cash on the line in a bid against professionals with Harvard degrees, years of experience and deep pockets. With such a lineup, what is the probability of us winning?

This book explains in a good level of detail that actually yes, there is a probability of winning. However, one needs to do a bit of learning, training and planning beforehand. It remains unlikely that you’ll beat the seasoned table tennis pro (my opinion), but with knowledge, training, patience and discipline, you’ll be able to pocket a few points instead of getting blown off the table.

The book goes to great lengths to explain that trading the market is a serious business decision that requires knowledge, preparation, planning and above all, discipline.

Marcel Link explains how several technical indicators work, how traders use them, when to use them and when to stay away from them. He tells you “look, here is a pattern that seems to have worked in the past” but he also points out that a single pattern alone doesn’t make for a good trade and it is up to you to find, interpret and evaluate such pattern and get it confirmed (or not) by other indicators.

This book is an eye opener. One of the very first things I did after cracking it open was to look back and evaluate my past trades. It is horrifying to realize how easily I could have lost a lot of money due to my “buying strategies”. I would have never made those trades if I knew then what I know today.

Summary:

- very well written book, concise style with a touch of humor, very well organized

- very readable, written in simple and effectively used plain English, no typos

- sticks to the point of making trades that have higher probability of payoff

- describes the toolbox needed to find, evaluate and execute great trades

- leans a bit towards short term trading and has commodity trading examples sprinkled through quite frequently. However, both the short term and commodity trading strategies are applicable to long term trades as well

- spends quite a few pages on trader psychology, establishing a trading plan, writing a money management plan and coming up with a game strategy

- emphasizes that a well designed and thought through entry point is just the beginning of a good trade and it needs an equally well designed and thought through exit point. Otherwise a good entry point may turn into a very expensive lesson

- discipline, discipline, discipline

Conclusion:

This is not one evening read. You need to study it, consult the market, study your past trades, play with charts, learn various analysis techniques.

Above all, you need to come up with your plan, test it and come up with your trading identity before you lay a single red cent on the line.

Other (my opinion) useful, complementary books:

How To Make Money In Stocks: A Winning System in Good Times or Bad, 3rd Edition

Invest Like a Shark: How a Deaf Guy with No Job and Limited Capital Made a Fortune Investing in the Stock Market

Classics:

Reminiscences of a Stock Operator (Wiley Investment Classics)

How I Made $2,000,000 In The Stock Market

How to Trade In Stocks

Technical analysis formulas:

Technical Analysis from A to Z, 2nd Edition

5 Stars The typical traders missing LINK to becoming a consistent winner ?
At the beginning I thougt I’d read all this before and that it was all the same.

But soon after reading some more I learned some new things, f.exmpl. to use the fibonacci retracement properly, this is mandatory because every serious trader watches these levels and trade thereafter.

Marcel also goes through exit strategies , something very few other authors do.

He uses his own hard earned wisdom to give great advices.

One of the most important things was the money management chapter, if a trader misses out on this one the it doesn’t matter how good a technician he or she may be.

One of the best trading books I’ve read, just wish I’d read this one earlier.

Good Luck !

5 Stars The Fundamentals of Successful Trading
I would say that this book deals with the basics of what it takes to be a successful trader. It gives the reader a realistic point of view regarding how hard it is to be successful and the most important aspects of surviving and eventually thriving as a trader. In summary:

1.Money management-Have a plan that allows you to have a string of losses and still be ok. MOST new traders destroy their account because they never thought this part through. If you are new to the game and can’t afford to lose thousands of dollars within a few weeks, this should be your top priority before doing any real trades.

2. Greed and Fear-The mental part of the game must be mastered once you have a plan for not losing all your money. Losing and making money both make you crazy. Self control

3. Strategies-this book goes over mechanical system building and the importance of backtesting strategies, but does not go into any detail about specific strategies.

This book teaches you how to think about trading and gives you advice aimed at preventing you from failing, as 90% of new traders do, so says the author. Read this book to learn what concepts need to be prioritized and then get another book to learn specific strategies and charting skills, etc.

5 Stars Excellent Book
This is an excellent book about trading, especially for the beginner. However, the beginner is not likely to recognize why this book is excellent versus the many books written about trading by non-traders. I highly recommend this book to anyone trying to teach themselves about the markets. If you already are a successful trader, the book may not be that helpful. If I were to teach a course in trading, I would consider using this book as one of the textbooks for the class, in part because there are very few comprehensive good books about trading. I have read the negative reviews posted on Amazon, and I don’t think they are, for the most part, informed or fair. I hope the author comes out with a second edition, in part because while I think the content is excellent, the writing could be improved upon. But I’d rather have a substantively excellent book, than one of the many trading books well-written by a non-trader that is unhelpful or even misleading on the substance. “High Probability Trading” is worth the read.

5 Stars Don’t let it sit on your bookshelf
like I did for about 3 years. Now I that I finally picked it up I am almost a third of the way through and already has Marcel Link’s clear, honest, to the point language and approach to day trading dotted my i’s and crossed my t’s several times over. Yes, I did read books about small cap value investing, how to read charts and how to make money using all kinds of fancy systems before this one and I recommend you do the same. But don’t stop there – go ahead and finish your training with this excellent work. Marcel’s straightforward message is so simple yet so deep that I hope it will, just like it is already doing for me, banish all your fears about making mistakes and still coming out a winner. I write this on purpose because if you are not making money in the market you probably have a fear of winning and/or are making too many mistakes. Right after I started reading this book I had my first winning streak in years only to face an age old stumbling block just a week later; this time, thanks to Marcel’s warning, I could honestly say to myself “It’s OK, keep going” and I actually was able to prevent a big loss because the market had turned against me. Thanks to Marcel’s “handholding” I had the courage to read all the charts before rushing into a decision that could have cost me. This book is for everybody who is missing out on grasping the “whole” of trading. After this, I plan to read more technical books just to stay sharp in that area, but for the time being I am enjoying every page in this volume. Highy recommended.

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Trade What You See How To Profit from Pattern Recognition Wiley Trading

Trading the financial markets is extremely difficult, but with the right approach, traders can achieve success. Nobody knows this better than authors Larry Pesavento and Leslie Jouflas, both traders and educators of traders, who have consistently used pattern recognition to capture profits from the markets. In Trade What You See, Pesavento and Jouflas show traders how to identify patterns as they are developing and exactly where to place entry and exit orders. While some patterns derive from the techniques of Wall Street’s earliest traders and other patterns reflect Pesavento’s emphasis on the geometry of market movements and Fibonacci numbers.. Filled with hard-won knowledge gained through years of market experience, Trade What You Seeoutlines both a practical and sophisticated approach to trading that will be of interest to both novice and seasoned traders alike.

Larry Pesavento is a forty-year veteran trader. He operates a Web site,

User Ratings and Reviews

5 Stars One of the Easiest Technical Trading Books
This book is one of the easiest reading technical analysis books I’ve read. The book lays out a fairly simple mechanical system which can be implemented immediately to improve one’s bottom line. I’ve been using the patterns and techniques in this book for a little over a month and it has helped me more than just about any other book out there. I now have a specific plan of action and rules to follow when I enter the market every day.

I would say that the only area lacking in the book is the mental side of the equation. But this isn’t a book on the psychology of trading. The psychology of trading is far too important to be covered in a chapter in a book on technical pattern recognition. Those looking for guidance on the psychological side of trading would do well to read books by Dr. Brett Steenbarger, and the first half of Trading Chaos by Dr. Bill Williams.

I would say that reading the first half of Trading Chaos and then Trade What You See could be a real recipe for success for a lot of traders. Every trader has a different perspective and style, and every trader needs to find their own style. These two books fit my style best and I think they could help others as well.

4 Stars Good for Fiboinacci aplications however few patterns used as Recognition Trading
Should be used by Advanced Traders…Also if you like to use triangules and Fibonnacci as tolls for trading decisions.

3 Stars …If You Can See It
Respect to the author, but a lot of this material can be found on the internet already, such as the AB=CD and Gartley patterns. For a book about visual pattern recognitions, the b/w blurry charts were a disappointment. Authors take note, shell extra for some color and larger charts will convey more than words, it would become a bestseller fast. Still, I’ve timed some profitable options trades using the geometric patterns.

A Pesavento must have book is Astro Cycles…if you are ready for it

3 Stars Good Book but Pasavento is known for better
Great Book on simple TA… It was not what I expected but a cool book..

5 Stars This book is fantastic
I am new to the world of trading, and I have already read many books, seen seminars, etc.

Out of everything I have read, this book is not only the most practical and objective, but it also includes many poignant examples of both successful and failed trades. The patterns in this book are consistent and all build from Fibonacci ratios as well as the classic AB=CD pattern.

I cannot recommend this book enough. Out of every trading book I have, this is my favorite. It is well worth the money.

One note: it does take a little time to break into at first. I don’t know that the opening of the book eases the reader into it, but if you get frustrated just skim the Fibonacci parts and go into the AB=CD pattern. It gets clearer from there.

One of my favorite books!!

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Forex Patterns and Probabilities Trading Strategies for Trending and Range Bound Markets Wiley Trading

While most books on trading deal with general concepts and shy away from specifics, Forex Patterns and Probabilities provides you with real-world strategies and a rare sense of clarity about the specific mechanics of currency trading. Leading trading educator Ed Ponsi will explain the driving forces in the currency markets and will provide strategies to enter, exit, and manage successful trades. Dozens of chart examples and explanations will guide you each step of the way and allow the reader to “look over the shoulder” of a professional trader hard at work at his craft.

This book provides traders with step-by-step methodologies that are based on real market tendencies. The strategies in this book are presented clearly and in detail, so that anyone who wishes to can learn how to trade like a professional. It is written in a style that is easy to understand, so that the reader can quickly learn and use the techniques provided.

User Ratings and Reviews

3 Stars Solid knowledge but poorly applied
Many of the other reviews have described the ‘meat’ of this book. I will not waste time repeating it.

Simply put –

Mr. Ponsi provides excellent information. However, they are very big moves and definitely not for beginners. True, you could use micro lots so the risk/reward is on a level you could digest…but you will be wasting days and/or weeks of time waiting for this ‘perfection’ to actually happen…and in ANY kind of trading…nothing (even when everything is perfect) is guaranteed!

Ed is trying to create the highest probability trades that could go in your favor. Definitely a smart thing to do! In my opinion, and by the opinions of MANY other leading traders/authors, time and resources are being wasted.

Let’s work with a real world example and real world numbers.

Posit – with Ed’s system you might get 4-6 trades a month.

Consequence – Out of those trades zero to all of them could fail.

Result – You risk sitting for a whole month only to gain nothing or risk large loses.

Conclusion – Time and resources are being wasted.

A HUGE NO! NO! among pro traders and myself included. I can easily have done numerous high probability trades within the time that were low risk and high reward. I do that every day from Monday to Thursday.

Again, I think Ed’s material is an excellent read for knowledge and to learn…but definitely not for a solid trading system. Just wait till you hit days or weeks of ranging/box markets and see what happens!

5 Stars Great beginner book
I am new to Forex. Ed Ponsi has made this an easy to understand topic and also made it easy to start trading. My first trade (in a practice account) netted $3500 dollars while risking $7000. Truly an easy to read book that let’s you look over the shoulder of a professional trader. I have never reviewed a book but felt compelled after reading this one.

5 Stars Excellent! Best Forex Book By A Mile
I’m going to throw away all of my old trading books, all of them put together can’t match this one. Not just the best fx book, maybe the best trading book, period. Many of the techniques apply to stocks too. I’m getting fantastic results on the Swiss franc using one of the trending techniques. Ponsi’s strategies make sense, it is very easy to learn his styles of trading, which shift along with changing market conditions. Much better than anything else out there.

5 Stars Made A HUGE Difference In My Trading
This book made a huge difference in my trading. I struggled for several years before finding this book, didn’t know what I was doing wrong until now. I started using FXEd Trend last year, it was just so-so at first but then this year I’ve been knocking it out of the park with that strategy. I sent the author an email and he was very responsive, I was pleased to learn that we even placed some of the same trades! I can’t believe how clear and simple he makes it, gives you step by step instructions. I never thought I would make money trading but it really can be simple, if you have a good plan and the discipline to follow it. If you are a trader and you haven’t read this book yet then make it your top priority.

2 Stars Book for beginner
Book providing an overview of the forex market and some simple strategies. A book for beginners. If you have read other similar books, give this one a skip.

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Day Trading For Dummies For Dummies Business and Personal Finance

Day trading is undoubtedly the most exciting way to make money from home. It’s also the riskiest. 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 get 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. Learn how to:

• Set up your accounts and your office
• Connect with research and trading services
• Plan and research trades carefully and thoroughly
• Comply with regulations issues and tax requirements
• Leverage limited capital
• Cope with the stress quick-action trading
• Sell short to profit from price drops
• Evaluate your day-trading performance
• Use technical and fundamental analysis
• Find entry and exit points
• Use short-term trading to establish a long-term portfolio

You’ll also find Top-Ten Lists of good reasons to go into day trading, or run from it in terror, as well as lists of the most common (and expensive) mistakes day traders make. Read Day Trading For Dummies and get the tips, guidance, and solid foundation you need to succeed in this thrilling, lucrative and rewarding career.

User Ratings and Reviews

2 Stars Not For Dummies —
I have a Mensa IQ – have traded equities for 15 years and found this book to be complex and difficult to read. It presumes a lot of things that puts this well outside the title ” For Dummies.” “Daytrading for Intermediate to Advanced Traders” would be more honest.

If you are looking for simple understanding of the day trading concept, look elsewhere. If you want an advanced text, this is probably a minimally fair choice.

5 Stars Great for beginners
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!

5 Stars More than for just Dummies
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.

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The Complete Guide to Investing in Short Term Trading How to Earn High Rates of Returns Safely

Short-term trading refers to the practice of buying and selling financial instruments within the same trading week or, at most, a few weeks. Short-term traders buy and sell stocks over a few days or weeks in the hope that their stocks will continue climbing in value for the time they own them, making for quick and, often, huge profits. Some of the more commonly traded financial instruments are stocks, stock options, currencies, and futures contracts such as equity index futures, interest rate futures, and commodity futures. Short-term trading was once the preserve of banks, financial firms, and professional investors. Many traders are bank or investment firms employees working in equity investment and fund management. As with many other business segments, the Internet, technology, and legislative changes have opened up this attractive marketplace to a new breed of individual investors and speculators working part-time. You and I can now stand on an even playing field with the largest banks, wealthiest individuals, and trading institutions from the comfort of home. Short-term trading can provide you with very high and secure rate of return as high as 12%, 18%, 24%, or even 300%. If performed correctly, short-term trading can far outpace all other investment techniques. The key is to know how to perform this process correctly. This all sounds great, but what is the catch? There really is none, except you must know what you are doing! This groundbreaking and exhaustively researched new book will provide everything you need to know to get you started generating high-investment returns with low risk from start to finish. In this easy to read and comprehensive new book you will learn how to set up your online account, how to choose the correct software to use in trading, how to get started in short-term trading, how to invest in short-term stocks, evaluate performance, and handle fees and taxes. This book delves into trading tactics for swing trading, position trading, leveraging the stock market, selling short, and pinpointing entry, exits, and targets for your trades. You will pick up the language of a trader so that you recognize candlestick patterns, advancing and declining issues and volume, call options, and put options. You will know how to find the very best stocks every day, how to read and prosper with stock charts, how to use the New York Stock Exchange tick indicator and trading index (TRIN), the Commodity Channel Index (CCI), the moving average convergence/divergence (MACD), the Dow 30-Day Moving Average. As you read this book, the mysteries of short-term trading will unfold so that you can double or even triple your investment all while avoiding the common traps and pitfalls. In addition, we took the extra effort and spent an unprecedented amount of time researching, interviewing, e-mailing, and communicating with hundreds of today s most successful investors. Aside from learning the basics of mutual fund trading you will be privy to their secrets and proven successful ideas. Instruction is great, but advice from experts is even better, and the experts chronicled in this book are earning millions. If you are interested in learning essentially everything there is to know about short-term investing as well as hundreds of hints, tricks, and tips on how to earn enormous profits in short-term investing while controlling your investments, then this book is for you.

User Ratings and Reviews

4 Stars Emotions determine success!
I’ve read quite a few books on investing stocks and bonds and this is the first one that addresses the motive behind it all; Emotions. I particularly liked the “Success Stories,” a brief yet in depth look at those who have prospered from using this book. As the chapters proceed, stock market buzz words and other important terms are explained in easy to understand, layman’s terms. This book provides an entertaining and practical read.

4 Stars For The Serious Investor
For the serious investor, all the information you need to know and do before you make a trade is in this book. It becomes clear that Northcott wants you to become comfortable with the idea of trading and identifies the many challenges that new traders face. He doesn’t send the unrealistic approach that you can win every time, but instead explains that you can trade without risking everything if you follow the guidelines in his book. You begin to discover what category you fit into with the different type of traders that are presented in the book and what might work for you using a variety of trading topics and interviews from those who work in the business everyday. Each chapter ends with a summary and a list of important terms filled with tips to become a natural in investing.

Even if you don’t invest, you can understand how investing affects everyone and what it takes to become a part-time or full-time trader. Northcott warns the reader to watch out for greed and fear and lets you know what to expect in the industry. Most of what you need to know about brokers, placing your orders, and how to establish a business plan to make your dreams into realistic goals are in this book. Precise information on the different markets and stock exchanges allows the reader to understand more on market makers and market pricing. The chapter on how to view charts is very helpful in deciding on future investments or to understand current investments and analyze stock trends.

Northcott says there needs to be a balance between being safe and taking risks. I’m a frugal person and not one to take a chance, but I might give it a try now. Although some of the information in this book can be presented clearer at times, this book is easier to understand than other investing books. It gives you the tools to make the decisions you will need to make in this profession that will help you to succeed and recognize an opportunity over a downfall.

5 Stars Day Trading Made Easy
The Complete Guide to Investing In Short Term Trading by Alan Northcott is a great tool for the novice and seasoned trader alike. It gives real life examples of how traders have won big, lost their shirt and everything in between. The author is much like a personal business consultant. He shows you how to get started and build your business into a long-term, profitable entity. The strategies in this book are priceless. Industry experts convey the same information at seminars and workshops for enormous sums of money.

So whether you are trying to decide if trading is for you or you’re reaching for the stars. The Complete Guide to Investing In Short Term Trading is sure to launch you to new levels of success.

4 Stars Trading Know-How
When people first think of trading as a profession, they typically focus on two key elements – self employment and lots of money, and probably not in that order. But The Complete Guide to Investing in Short Term Trading sheds light on the reality of trading – that it’s hard work and, if managed the right way, can be quite rewording.

The book opens with a review of the many emotions involved in trading and how there needs to be a balance to have a successful career in trading. It also offers a detailed look at various types of markets (Broad, Stock, Bond, Futures, Options, Forex and Commodity), the types of traders associated with each (Day, Swing and Position), and an overview of order placements.

In detailed description, the book educates readers considering a career in trading about the ins and outs of the trading profession. With its step-by-step instruction, this book is a terrific business tool for anyone with a desire to participate in the world of trading. It offers fundamental information including a glossary for novices and more advanced information for traders already working in the field.

This is one comprehensive book for anyone considering a career as a trader.

5 Stars Trading 101
This is an excellent choice for anyone that is looking for a book to start out with and learn the basics of trading. The author does an excellent job touching on every topic you will need in trading, some of these are: how greed and fear factor into the markets, how the markets operate, the differences between swing traders, position traders and day traders, the different kinds of orders that can be placed, market or limit, stop order or limit stop order, trading using fundamental analysis vs. technical analysis, and the importance of money management in trading, along with the importance of building a trading system that fits your personality and gives you an edge over the markets.

While experienced traders will get very little out of this book, it is a nice refresher on the psychology of trading and the importance of following your own stock trading system and following your own rules. I rank this book as 5 stars and a must have for traders just starting out, it is a great stepping stone to more advanced books from Alexander Elder and William O’Neal.

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The Complete Guide to Day Trading A Practical Manual From a Professional Day Trading Coach

Learn the Art of Day Trading With a Practical Hands-On Approach

Do you want to be a day trader?

Every day, millions of dollars change hands in the markets, presenting the perfect opportunity for people just like you to make significant money and profits through the art of day trading.

But here’s the question: is day trading right for you? And, if it is, how do you get started?

In his new three-part guide, professional day trading coach Markus Heitkoetter lays out a simple, proven system for trading success. From the basic essentials of trading to the actual process of making money in the markets, he’ll cover it all.

* What You Need To Get Started: The Tools, The Methods, The Mindset

* Finding the Best Market to Trade: Futures, Forex, Stocks, or Options

* A 7-Step Approach to Developing Your Own Profitable Trading Strategy

* The 10 Power Principles of Successful Trading Strategies

* Avoiding The 7 Common Mistakes of Traders

* Get Started Without Risking A Single Penny

* Ready-To-Use Trading Plan Templates, Checklists, Resource Directories, & More

Loaded with easy-to-use information, proven and reliable strategies and guidelines, and a practical hands-on approach to the industry, The Complete Guide to Day Trading is your own personal manual to success in the markets.

User Ratings and Reviews

5 Stars The best trading book ever!
I bought this book for one reason, and one reason only – to see what the author had to say about trading strategies. I appreciated the sections on what it takes to become a day trader – mindset, funds, goals – and the chapters that dealt with info for newbies, like finding a broker and picking a market, but I’ve been a trader for awhile. It was nice refresher material, but not the main reason I bought the book.

Since I first began trading, I’ve been trying to find the ideal strategy for me. I’ve found a lot of elements from different trading strategies that I like, but I haven’t found any one strategy that seems to fit me perfectly. Because of that, I’ve thought a lot about what it takes to create a well-tested, reliable strategy. What do you need? How much depends on numbers and how much depends on your personal preferences? And how do you go about creating a new strategy that’s successful in the markets and also works for your trading style?

When I read the back cover of this book, I finally found something that might be able to answer my questions. One of the main elements of the book is that it lays out a seven-step approach to creating your own trading strategy, and I was hooked. I bought my copy right then and there. And I’m really glad I did.

These are the seven steps outlined in The Complete Guide to Day Trading for creating your own strategy:

Step 1: Selecting a Market

Step 2: Selecting a Timeframe

Step 3: Selecting a Trading Approach

Step 4: Defining Entry Points

Step 5: Defining Exit Points

Step 6: Evaluating Your Strategy

Step 7: Improving Your Strategy

I can’t really go into detail on each step, even though I’d like to, but the ones that were really essential to me were Steps 3-7, especially 6 and 7. I finally feel like I have a good idea of what a reliable trading strategy needs to be. And I have the knowledge to test my strategy, revise it, improve it, and use it in a way that complements my trading preferences and style.

I’m a satisfied reader, and if anyone else out there is interested in the same thing as me, then I would say this book is exactly what you’re looking for.

1 Star Regurgitated and repackaged information for the beginners
I have had high hopes for this book based on good reviews. I admit, I slacked off and didn’t check the reviewers as I normally do. For me this book was a disappointment – regurgitated and repackaged information for the beginners that you can find free on the internet.

Markus Heitkoetter of Rockwell Trading sells day trading seminars that are priced in middle four-digits. You always have to do your due diligence, whether it is a $15 book or a four-digit seminar. Otherwise you risk to buy an inferior product. In case of trading, always do research online in depth or ask the vendor to provide the track record. If any teacher cannot provide a successful track record in their field – run. Buyers beware!!!

5 Stars Trading Review
The book is definitely insightful. I am happy that I purchased it. I do believe if I had a better understanding of the trading world then maybe the information would resignate more.

5 Stars Great book, very basic, but right to the point.
Day trading is not easy, and this book does a great job in “keeping it simple.” The book explains how to always go for singles consistently, not the home run everyone wants. Also, good traders have a plan, and they are disciplined toward it. Traders without a plan are just gamblers. This book is so to the point, and for $15.95, you cannot afford to not have this book! 5 stars!

4 Stars Is Day Trading in Your Professional Future?
Day trading is a potentially rewarding but also quite risky profession. Many day traders jump into their new career role with both feet, but they don’t succeed and often quit as quickly as they started. They either end up losing money or they make so little that they cannot leave their day job and work exclusively as a day trader.

Lack of education, lack of discipline, and other factors are among the reasons many people don’t succeed when they attempt to make a living as a day trader and this is where The Complete Guide to Day Trading can help. This book explains the do’s and don’ts of the profession and it includes graphic illustrations that help explain how to spot trends, how to know the right timing for buying and selling, and how to realize when the time is right to get out of a specific investment and move on to the next.

Day Trading requires discipline, education, timing, and planning. These areas, and others like them, are emphasized over and over again in this book because anyone who is lacking in any of these areas is almost certain to fail. For example, one of the most common mistakes made in day trading is not having the discipline to quit while you’re ahead. A person will be trading away and will have made a decent amount of money for the day. But because market conditions are favorable and the money is looking good, the day trader will suddenly feel a surge of greed and want to continue trading. Sometimes, more money will be made but more often than not, the gains from earlier in the day will be wiped out, resulting in no positive cash flow for the day. On the opposite end, the same occurrence is commonplace. A day trader might be having a bad day with losses of a few hundred dollars. Instead of quitting for the day and hoping for a better tomorrow, the day trader will suddenly increase the amount of his/her investments in an effort to gain back what was lost. Panic can then result, leading to even greater losses. This is why discipline and planning are so important. The day trader needs to set a goal for daily earnings and then stick to that goal, resisting the temptation to continue trading.

Besides the advice on attitude, education, and the like, The Complete Guide to Day Trading is also very practical about the science of day trading and it includes many graphic illustrations to help day traders learn how markets work. This is very valuable information and these graphs and the accompanying text rank amount the most helpful parts of the entire guide. Many individuals may have sufficient education, discipline, and planning strategies, but they may have little knowledge about the actual tracking of stock options, futures contracts, foreign currency, etc. This book offers a quick overview of these different investments and how they work, followed by actual graphic illustrations that indicate the pricing trends for a specific commodity or financial security on a given day. Using these illustrations, the book indicates precise ways to spot trends and the exact moment to buy and sell.

Day trading should never be viewed as a get rich quick scheme and I like that the author doesn’t promote day trading in this manner. I also like the way he includes evaluations of different software products for tracking pricing changes throughout the day and I like his lists of helpful hints and principles for day trading. Some of the educational material on stock options, futures contracts, etc., isn’t as thorough as it could be, but the approach of this book is very practical and hands- on, and it serves as an effective resource for someone considering day trading as a full or part time profession.

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Trading in the Zone Master the Market with Confidence Discipline and a Winning Attitude

Maximizing the trader’s state of mind is the key to successful results. Conflicts, contradictions and paradoxes in thinking can spell disaster for even a highly motivated, astute and well grounded trader. Mark Douglas, a trader, personal trading coach, and industry consultant since 1982, sends the message that “thinking strategy” will profoundly influence a trader’s success rate. Douglas addresses five very specific issues to give traders the insight and understanding about themselves that will make them consistent winners in the market.

Trading In The Zone offers specific solutions to the “people factor” of commodity price movement. It uncovers the true culprit for lack of consistency when it comes to stock picking: lack of focus and self-confidence. Through simple exercises, traders will learn how to think in terms of probabilities, and adopt the specific beliefs necessary to developing a winner’s mindset. Along the way, they’ll gain valuable insights into their own entrenched misconceptions about the market.

Backed by compelling examples, Trading In The Zone adds a new dimension to getting an edge on the market. Through a better understanding of themselves, as well as of Wall Street’s realities, traders will come to leverage the power of their psyche for unprecedented profitability.

User Ratings and Reviews

5 Stars Great book… a whole new level of personal insite!!!
This is a super book.

The focus is on improving yourself as a trader, but the material can be applied to any aspect of yourself that you wish to understand or improve.

The explanation about how the our minds create, maintain and use our beliefs is very clear and simple. The explanation of how are minds function with exiting beliefs is followed by methods for overcoming limiting behaviors and instilling new beliefs.

A quote that I think we have all been told in some form or another has much clearer personal meaning after reading this book.

“When it comes to personal transformation, the most important ingredients are your willingness to change, the clarity of your intent, and the strength of your desire.”

If you’re willing to work on yourself, this book is a fantastic guide.

5 Stars Don’t place another trade until you read this book
And, it doesn’t hurt to read this essential book again every couple of years either as your trading develops and matures.

Some reviewers are critical of the style of writing (psycho babble, motivational, etc) and some are critical of the quality of the writing. Some even think the book is over rated. Don’t be swayed by the critics — just get the book and read it.

You’ll find that the message (regardless of the delivery or the style of the writing) is all that matters. If at first the message seems redundant or unfamiliar or a bit uncomfortable, keep an open mind. Remember, repetition of a message enables you to integrate it more effectively. And, if the ideas are a little “out there” for you, it is the revolutionary ideas that are often the ones that inspire true discovery (in trading and life).

Mastering our trading psychology and self awareness is the key to pulling all the other elements together. A terrific system plus great fundamentals won’t add up to consistent profitability unless we can master our mind.

5 Stars Buy it
If you are a new trader, you probably won’t “get” this book. It takes some time and pain to realize there’s a problem beyond market knowledge. The author says as much.

I read the three star review and I agree with it—there’s a lot of words in this book. BUT, as that reviewer said, the gems are there and worth every penny I spent on this book. I’d have paid a thousand dollars for them. I actually bought it because another reviewer said it was the best book he’d read on trading. I’d have to agree.

I have fabulous trading days only to have them followed by disaster days. I thought this was just me, but this book says one thing that will hit home to those who trade: euphoria leads to reckless trading. That’s exactly the thought I couldn’t put into words and hearing him I realized I’m not alone.

I wasn’t going to review the book because I don’t need the competition, but then I realized what he says is true—there are few great traders.

5 Stars A must read for traders
This book changed the way I think and act when trading. If you are an experienced trader or a new trader, this book is a must. It’s one of the only sources that focuses on the mental aspect of trading. There are piles of technical, fundamental and system trading books, but this author will introduce you to the most important part of trading – your mind and how to control emotion when putting on a trade!

5 Stars A book that offers great value
Internalize the 5 fundamental truths as proposed by Mark Douglas, they are applicable not just to trading but also to one’s career and personal life. In my opinion, a must-have in one’s personal library.

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Market quality and price discovery Introduction of the E mini energy futures An article from Global Finance Journal

This digital document is a journal article from Global Finance Journal, published by Elsevier in . The article is delivered in HTML format and is available in your Amazon.com Media Library immediately after purchase. You can view it with any web browser.

Description:
In mid-June 2002, the New York Mercantile Exchange (NYMEX) introduced E-mini futures contracts on natural gas and crude oil, a natural response to information technology developments and investor interest. The transition data allow examination of the effects of the new contracts on market quality and price discovery. Bid-ask spreads on the regular futures have been reduced significantly since introduction of the E-mini futures, showing improved market quality from competition effects. The E-mini market contributes more than 30% to the price discovery process, although it represents less than 1% of the volume of the regular futures with the same underlying. E-mini futures have several advantageous characteristics over regular futures, which should explain these significant results.

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Hedging with floor traded and E mini stock index futures An article from Quarterly Journal of Business and Economics

This digital document is an article from Quarterly Journal of Business and Economics, published by University of Nebraska-Lincoln on June 22, 2005. The length of the article is 8407 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: Hedging with floor-traded and E-mini stock index futures.
Author: Chien-Liang Chiu
Publication: Quarterly Journal of Business and Economics (Magazine/Journal)
Date: June 22, 2005
Publisher: University of Nebraska-Lincoln
Volume: 44 Issue: 3-4 Page: 49(20)

Distributed by Thomson Gale

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