Strategies for the Online Day Trader Book Review
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Electronic day trading is one of today's fastest growing, most exciting, and highest paying professions. Traders can--and do!--make thousands of dollars at the punch of a key. But if you think electronic trading is a game, you won't survive. Serious traders will show you the way out of the arena--after first, of course, none-too-gently helping themselves to your bankroll. Still ready to take these guys on? STRATEGIES FOR THE ONLINE DAY TRADER is written for the current trader who is serious about raising his level of expertise and becoming a successful electronic day trader. This realistic look at the world of electronic day trading familiarizes you with the psychology and philosophy behind day trading--along with the obstacles and pitfalls that can plague unwary gunslingers. Use STRATEGIES FOR THE ONLINE DAY TRADER to help you sidestep potentially disastrous errors as it points out which trades will tip the scales in your favor. This commonsense book shows you how to outsmart other traders, and see past their feints and dodges to discern their true intentions with unerring accuracy. Its NASDAQ Level 2 and NYSE SuperDOT trading strategies let you follow the inside market--plus what is beneath the inside market!--with trading lessons including: Risk management strategies that increase your leverage while reducing your exposure; The most effective trading strategies--and when, how, and why you can profit from each; A crash course in the basic theories of technical analysis; Analysis of the different behaviors of rising versus declining stocks; Understanding support and resistance levels, including breakouts and breakdowns, overshooting and undershooting; Factors involved in swing trading; High velocity, high probability scalping techniques. Specific risk-reducing strategies.â€¦detailed, step-by-step analysis of trades both good and bad.â€¦Charts and examples of scalp, swing, and core tradesâ€¦. Everything you need to become a full-time professional day trader is in STRATEGIES FOR THE ONLINE DAY TRADER. Read it and you will truly understand the natural dynamics of price direction, the psychological traits required of successful online traders, and the innate instincts necessary to grab split-second trading profits at the leading edge of electronic day trading--the new century's most important trading phenomenon.