Start Day Trading Now: A Quick And Easy Introduction To Making Money While Managing Your Risk Download Free (EPUB, PDF)
Day trading, or intraday trading, is a method that works just like it sounds: you enter a trade involving one or more stocks (or another security) and exit the trade -- which you've only held onto for seconds, minutes, or hours -- by the end of the day. The plan is to make a trade and exit with a profit -- the sooner the better -- and still get a good night's sleep. Because uninformed traders have made mistakes in the past, many myths about day trading exist. In Start Day Trading Now, you'll learn the truth about day trading, including how much money you'll need to get started, how to choose a broker, set up a trading account, read charts, use technical indicators, place a trade, and manage your money and emotions. Interviews with professional traders are also included. Most important, Sincere thoroughly explains the benefits as well as the risks of day trading. One of the goals is to teach you how to be a better trader. This will help you learn how to trade for a lifetime, and not for just one day.
Paperback: 224 pages
Publisher: Adams Media (March 18, 2011)
Language: English
ISBN-10: 1440511861
ISBN-13: 978-1440511868
Product Dimensions: 5.5 x 0.6 x 8.5 inches
Shipping Weight: 12.3 ounces (View shipping rates and policies)
Average Customer Review: 4.4 out of 5 stars See all reviews (31 customer reviews)
Best Sellers Rank: #59,383 in Books (See Top 100 in Books) #19 in Books > Business & Money > Investing > Online Trading #99 in Books > Business & Money > Investing > Stocks #212 in Books > Business & Money > Investing > Introduction
I picked up Michael Sincere's book, "Start Day Trading Now" from my local bookstore because I got so caught up reading it that I decided to buy it right then and there vs. buying from the Kindle bookstore like I usually do. I took it home and read it cover to cover and I'm currently going through my second read through. It is a bit dense with 181 pages of actual writing that is chock full of definitions, charts, and various anecdotes. I'm not exceptionally new to investing, but am a total beginner when it comes to trading, and Mr. Sincere's book was perfect for me.At first, because of the title, I thought it would provide valuable information on how to choose a good discount broker and have more detailed insights into the daily going-ons of an actual day trader. Although the last 30 pages or so are supposed to introduce you to the life, it's really just an interview with some different day traders providing their own tips and tricks (what indicators they use, what they trade and how, etc.) but it's too over the top for a trader just starting out. What I wanted to know is more of how to pick quality stocks and the best ways to find them. Mr. Sincere also has a repeating theme throughout this book: day trading is NOT for anyone. If you can't have a steeled emotional state while trading, day trading is not for you. If you can't cut your losses short, day trading is not for you. If you are not disciplined, day trading is not for you. As a matter of fact, an author that Mr. Sincere seems to idolize a bit in the book, says in her own that day trading is in fact not for the faint at heart. She states the three "B's" of day trading: bucks, brains, and balls. Basically, if you don't have those, day trading is probably not for you.
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