In
the book, I describe the fundamentals of day trading, explain how day
trading is different from other styles of trading and investment, and
elaborate on important trading strategies that many traders use every
day. I've kept the book short so you can actually finish reading it and
not get bored by the middle.
For beginner traders, this book
gives you an understanding of where to start, how to start, what to
expect from day trading, and how to develop your strategy. Simply
reading this book, however, will not make you a profitable trader.
Profit in trading does not come with reading a book or two or browsing
online. It comes with practice, the right tools and software and
appropriate ongoing education.
Intermediate traders may benefit
from the book's extensive overview of some of the classic strategies
that the majority of retail traders regularly use with proven success.
If you think you are beyond the stage of a novice trader, then you may
want to jump ahead and start reading from Chapter 7 for an overview of
the most important day trading strategies:
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 . 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.
ABCD Pattern Trading
Bull Flag Momentum Trading
Top Reversal Trading
Bottom Reversal Trading
Moving Average Trend Trading
VWAP Trading
Support and Resistance Trading
For each strategy, I explain:
How to find the Stock in Play for trade
What indicators I am using on my charts
When I enter the trade
When I exit the trade (profit taking)
What is my stop loss
Day
trading is not gambling. It's not an online poker game. To be
successful at day trading you need the right tools and you need to be
motivated, to work hard, and to persevere. That's How to Day Trade for a Living.