5 comments about The Day Trader's Manual: Theory, Art, and Science of Profitable Short-Term Investing.

1. This book looks good, had one or two good reviews. But I wasted my money on it, because it put me to sleep. Written for the older crowd, with techniques used in the 80's. Definetely did not help me much, even though I sadly read %70 of it.



2. I was looking for "How To" Day trading book. Reading this book was torture. I felt Mr. Eng was trying harder to impress upon the reader his vast knowledge of the theory of economics, rather than teaching one how to day trade. I admit, I couldn't force myself to read the whole book. By the time I finished part two, feeling I'd gained nothing out of those 186 awful pages, I moved on to more exciting authors.



3. Way too much unusable information. I kept waking up throughout the book, hoping to get to the parts about day-trading I could put into practice. (It never happened)



4. I had rated the author's first book "Trading rules: Strategies for success" with 5 stars. I never expected such a frustration with this book.

   Perhaps the trader did try to make this book as a day trader's manual by including everything he deemed fit into a 322 page book: trading psychology, rules drawn from his own experience, chaos theory and in particular many TA tools like Market Profile, Elliot Wave, Gann Fan, RSI, Stochastics and so on. He then used nearly 40% of the book in 14 cases to elaborate those tools. The problem is, though I believe it's the intent of the author to make the book as concise as possible, it's simply impossible for most, even some professionals, to grasp the usage of the aforesaid TA tools. Even worse, the cases just did not help at all.

   In a word, a big disappointment for this one and I suggest those who would like to give the author a try to bet on his first book "Trading Rules: Strategies for success".




5. I anxiously waited for this book to arrive and was disappointed. Though the material may apply to some traders, it was like reading a physics manual. Very little up to date practical info. Candlesticks are not discussed at all. This book may be OK for a casual look over, but there are far better books such as Profitable Candlestick Trading by Bigalow, Toni Turners books, Nissans Candlestick books, Elders books, The Disciplined Trader, The Market Makers Edge, and many others that get into the real meat if you want to learn the art of day, swing, and position trading. Trading is not a get rich quick scheme, it is not gambling, but rather a deliberate planned approach to trading stocks and futures for fun and profit. It takes a lot of hard work and years of study to be consistently successful. You are going to have to focus on the art of the trade, not the money to get it done. Reading all of the books you can find on the subject is definitely suggested. But this one, I cannot recommend.

5 comments about DayTrading into the Millennium.

1. This is a five star must read for people who have been actively trading for less than a year. It is a real blueprint for learning the dos and don'ts of this profession.

   There are other excellent books on the subject, but this one is the easiest to understand and absorb.




2. I will begin by saying that just a few days ago, I was sitting here reading these book reviews just like you. This book is hyped everywhere so I decided to buy it. Unfortunately, I thought that if it sells for $60+, there must be some kind of demand for it. Well I received the book today and I already finished reading the whole thing! The book is EXTREMELY short (the print is large too) and each chapter is about 3 pages long. I don't want to bash this book, because it is a good overview for an absolute beginner. However, if you're already a fairly experienced daytrader looking to learn more, this book is not for you. The book isn't even really for daytraders.. it is just a basic overview of trading stocks in general. If you just opened up a trading account yesterday, you might find the book useful, but I'm returning it.



3. IN MY OPINION, WHICH IS WORTH LITTLE MORE THAN THE SERVER THAT THIS MUMBO-JUMBO IS SAVED ON, THIS IS A FANTASTIC BOOK FOR BEGINNERS AND INTERMEDIATE TRADERS, AND A WASTE OF TIME FOR PEOPLE LIKE ME WHO DECIDED TO TAKE THE EASY ROUTE TO TRADING SUCCESS (WHICH IS TAKING A BASEBALL BAT UPSIDE THE HEAD ABOUT FIFTY TIMES BEFORE I FIGURED WHAT I WAS DOING RIGHT AND WRONG IN THE MARKETS.

   I HAVE BEEN TRADING FOR A WHILE, AND FOUND THAT MUCH OF THE INFO IN THIS BOOK I HAD ALREADY LEARNED BY LOSING MY *SS IN THE MARKET (OOPS)...BUT HEY, WHAT'S AN EXTRA SIXTY BUCKS FOR A BOOK AT THIS STAGE :-)

   IF I HAD READ THIS BOOK A YEAR AGO, I WOULD HAVE SAVED MYSELF A NEW BMW (AND UNFORTUNATELY FOR ME IT WOULDN'T HAVE BEEN A 318I, BUT RATHER THE BIG BOAT 735...YEAH, YOU KNOW THE ONE!)

   ANYHOW, I DIGRESS. THE POINT IS THAT THIS IS A VERY GOOD FIRST YEAR BOOK ON INVESTING AND ACTIVE TRADING, AND OF LITTLE USE FOR THE WAR-BATTERED TRADER.

   IF YOU NOT YET A SEASONED VETERAN, BUY THE BOOK AND READ IT TEN TIMES. IF YOU ARE ON YOUR SECOND TOUR, SKIP THIS ONE AND READ BOTH OF JACK SCHWAGER'S BOOKS.

   HOPE THESE WORDS FROM A SARCASTIC OLD PISSER LIKE ME HELPS.

   DFD

   PS- I'M UP FOR THE YEAR, SO DON'T THINK THAT THIS OLD CODGER DOESN'T KNOW A LITTLE BIT ABOUT THE GAME!




4. I found this book to be extremely light on useful information. 230 very small pages with big margins, and very few pages per chapter to use up even more space. The author, many times, will start to talk about something that makes you think, "Now this should be interesting", only to change the subject just at the point where the information could get useful. Very frustrating. Before buying any book I would seek an independent review, where you can at least be sure that the reviewer is not the writer himself.



5. I found this book to be a great introductory book into the world of Daytrading. And that is probably all you will ever get out of any book on Daytrading, just a few bits and pieces of useful information that you can use. Unfortunately for us, like most trading books, especially Daytrading books, it is overpriced.

1 comments about Wall Street Stories: Introduction by Jack Schwager.

1. A neat collection of short stories that appeared in McClure's Magazine around 1900. Some characters reappear in different stories, but the stories are each self-contained. This is the earliest work in which I have found the short-selling quote: "He who sells what isn't his'n, Must buy it back or go to pris'n (page 173)." If you want to feel the brass Ticky-ticky-ticky-tick of the ticker then read this book. The first story "The Lady and Her Bonds" appears to have been the inspiration for Lefevre's novel "Sampson Rosk of Wall Street." If you liked "Reminiscences of a Stock Operator," you will love this book. Don't be dissuaded by the "out of print" label probably attached to this work - it cn still be found and is worth the search.

5 comments about What Works in Online Day Trading.

1. This is an eclectic book. It doesn't focus on a major theme and is a collection of different people's views plus the author's.

   I would not recommend this book for beginners who want to learn the basics because I don't feel the foundation is thorough.

   It is a good book for those who want to see how others trade, their diverse techniques, and their opinions on trading. Also of value are the risk management techniques.

   A more appropriate title would be: Different techniques by various traders and other trading tips.




2. I have read many "trading" books, and find this one a pleasant suprise. Section Two includes a good source of trading strategies that work, each one written by people who actually trade. Strategies covered include 1) pure price action by Gary Smith, 2) breakouts by Mark Seleznov, 3) seasonals by Steve Moore, et.al., 4) patterns by Mark Etzkorn, 4) springs and upthrusts by Hank Pruden, 5) Bow Tie patterns by Dave Landry, and a few others.

   The strategies include a good summary of setups, entries, stops, and exits. These summaries are general enought that you can program them in most any backtest software you use, not just Tradestation or C++. I use them to backtest with TC2000 and TC Companion.

   The book also has very good information on risk mangement, the mechanics of trading and the mindset of different trading styles.

   The great thing about this book, is that it is a well integrated compilation of tools and techniques from a variety of well known and/or highly successful traders. The editor did a wonderful job of taking this diverse group and integrating the book into a very logical and usable flow.

   While it may be too much for the pure beginner, this book will be most appreciated by the intermediate to advanced trader.




3. This is not your ordinary trading book, but one that teaches some real "usable" techniques. The book is broken up into chapters written by different people, so the tone of voice will change frequently. The prize of this book is the Seleznov breakout method, which anyone can use to trade profitably for life. That alone is worth thousands of times the price of this book. I'd recommend this for any serious amateur/semi-pro level short term trader who may be lacking a consistent trading system.



4. I decided to give this book a chance in providing me essential elements of a typical intraday technical trading system. Sure I wasn't expecting a copy-paste daytrade system that suits everyone.. if there ever was one...
   It's just, if you're starting out in daytrading (asuming you've been doing numerous of position & swing trades) looking for honest information, this book does the job. Eclectic but essential and honest. The actual job of creating a profitable system, simple or complex, still is yours.. .



5. This book has strong and weak chapters and average usability. It consist of a mixture of good advice: "Nervous money tends to become some elses money", long and tideous explanations on online technology, lame explanations about charts: "The vertical (Y) axis shows the price level, and the horisontal (X) axis shows time"...if you did not know this or could not figure it out yourself, you should nok trade at all. Stronger chapters looked at risk control & money management and some interesting interviws with for example Linda Bradford Raschke. The money management section helped me a lot and if you have not figured out that theme yet I would buy this book only to read those 42 pages.

No comments about Getting Started in Real Estate Day Trading: Proven Techniques for Buying and Selling Houses The Same Day Using The Internet!.

5 comments about The Strategic Electronic Day Trader.

1. this is the only day trading book that will explain you which
   charts to use and whay if you realy want to become daytrader do
   your acount a favor and ORDER THIS BOOK NOW!!!



2. This book is nothing more than a sales pitch for the author's trading school. From page 62, "All screens, strategies, and formulas are given to students of ." Really? I thought I bought this book to learn the author's screens, strategies and formulas. Further, chapter seven is dedicated to convincing the reader of the value of the authors "biomechanical trader" methodology. I completed the book wondering what my payment should be for enduring this pitch.



3. Many topics in this book weren't new to me.
   Though for a beginner it might be interesting as it gives an impression of what trading is all about and what kind of trader you want to be.
   Deel covers trade management and trading strategies, account and money management, technical charting, order entry and Level 2, ECNs and MMs. A little bit of everything.

   However what was new to me and made me stunned were last the 2 chapters "the biomechanical trader" and "seize the day".
   Very very interesting indeed! It's like those adds I've read before: "People are using only 10% of their brains...." (well??)

   For your trading education you should read more than just one book. This might be one in your collection to give you yet another point of view on trading (that's what it was for me). Still I give this book 4 stars because I liked the chapter on trading strategies so much.




4. Just got a chance for a quick browse. Later in the book, the author complained he offered everyone an "once in a life time opportunity on a silver platter": One on one personal training, 1 million dollar capitol, 90% of the profit. But throughout LA, only one person applied?!

   What's the catch? You have to finish 4 of his courses.

   Why not complain yourself not coming up with some better sales pitch ^_^




5. at writing 200 pages of BS. I thought this book is about day trading strategies or talk about strategic day trader. But no, all there was is this trend quantifier (useless), and for level II, he just touches on order routing(you got to be kidding me). Wait a second... where are the strategies? Waste of TIME, and a waste of money. But I was really amazed about how someone can write a book out of nothing. No, don't even qualify as a advertising/marketing pitch. Poorly written and no substance. 1 star for wasting ink and paper.

No comments about Reminiscences of a Stock Operator by Edwin Lefevre.

1 comments about Day trading with linear regression channels and intermarket analysis (Follow along as I post my paper trading account on my website).

1. I liked this book and found it very helpful. While it's not for novice traders, the tone of the writing is always friendly and honest. (Most traders sound so pompous and arrogant when they write about trading.) There's no over-promise here, just sound guidelines and lessons. The plastic comb binder lets me leave it on my desk during the day so I can refer to the lessons as I trade. A very worthwhile book for any day trader who's looking to improve his/her game.

5 comments about The Compleat Day Trader: Trading Systems, Strategies, Timing Indicators and Analytical Methods.

1. One of the most difficult things involving the markets, regardless of what you trade is timing.With this book, Jake not only gives you suggestions for timing indicators, but he also gives you some strategies to follow and shows real time examples which are clear and very detailed. In this book, Jake share his extensive knowledge about systems, strategies, technical indicators, and trading systems. I have purchased many trading books and this one is CRITICAL for your success as a trader. One more point that I wish for potential traders to consider is the source. Jake Bernstein has been involved in commodities and futures trading for 25 years. He brings real trading experience to the table. He does not promise you guaranteed results are a "pot of gold" under the rainbow. What he does give you is the information that you will need to be successful, REGARDLESS of the time frame you are trading. Also, he is available for you. I recently e-mailed him with a question from the book and I received a detailed explanation from him the very next day! I challenge you to find any author who will do that! Good luck and good trading!



2. Most books for "day traders" are so general that their techniques and advice can be successfully used by swing-traders (those who keep stocks for several days), and even by longer-term investors. This one is different. The author, Jake Bernstein, strongly advocates real day trading, when no securities ever kept overnight. Therefore, his techniques are usable for very short term trading only.

   The advantage of this book is that it has very little general rhetoric and comes straight to the point, that is to the techniques which the author finds profitable. Basically, 90% of the book is about the use of technical indicators (such as various moving averages and oscillators) to determine potentially profitable entry and exit points. The topics discussed in particular detailed manner are the use of moving averages, stochastic indicator, moving average channel (MAC), relative strength index (RSI), momentum, and techniques for trading of opening gaps. The author also suggests several oscillators of his own. However, despite the simplicity of these indicators, one has to own software such as Omega Research Trade Station to calculate and plot these home-made oscillators in real time, or write a program yourself. There are also several chapters applicable to futures only (actually, the whole book is about trading in the futures market, but 95% of techniques are equally applicable to stocks).

   The great advantage of the book is that it is very specific, clearly illustrated, and gives plenty of detailed technical advice and a number of potentially profitable trading techniques. Be advised, however, that those who are interested in trading but do not have enough capital to take profits from half-a-tick changes (and I, too, belong to this group) cannot really take advantage of this book. No trend and no trade longer than a few hours is discussed there! Therefore, this book is for the serious day traders, and only for them. If you are a day trader, this book is a must; if you are not, do not bother buying it but rather consider other options, e.g., the excellent book "How to get started in electronic day trading" by D.S.Nassar which is good for traders on any time frame.




3. Trading especially short term trading need great concentration and a full-time commitment. Professional traders write few or no book.

   Mr. Bernstein's books and articles are everywhere. Sometimes I came across his publications, I scanned through a few pages to see what he had to say about trading. Mr. Bernstein makes statements which are generally safe and easy to say. For example, I read his article the other day. He tells the readers "Do your homework.", "The trend is your friend." etc. Of course, these are the common rules for traders. But what are the concrete steps to implement these rules in the real-life situation? Well, I could hardly find any. On the other hand, he stated in that article: "...I maintain that a good trader can make any system works." I found this statement unprofessional and phony. The reasons:

   1. Many systems on the market are just trash and can not be used at all.

   2. Good traders wouldn't pick up any system and risk their money with it. Good traders are very selective and only trade a few systems that have proven record and are suitable for their individual styles.

   I found similar problems in other works by Mr. Bernstein. Should I bother to buy this book? No, thanks.

   I have read books from many different writers and have more than 10 year active trading experience. So I know something.

   A few tips(IMO) for choosing good books on trading:

   1. Only a small percentage of books on the market are good or great.

   2. Popular books are not necessary good books. If you automatically think so, you've probably fallen into "Herd mentality" thinking.

   3. Trading is a bottom line business. Find books written by traders who had proven long-term(5 year or more) successful trading records. They are the ones "know how".

   4. Be wary of the authors who write many trading books.

   Good luck.




4. Take my word for it and save your money, the techniques in this book simply do not work!



5. The book is good if you want to depend on technical strategies to make money day trading.
   
   The stock market is always presenting us with trading opportunities that don't neccesarily have to do anything with technical analisys.
   
   As a day trader your homework is all about studying and testing different market strategies that will help you take advantage of stocks and at the same time protect your investments. Just always keep in mind that a good strategy is simple and practical. Complicated technical systems will always make you slow in your decision making process or confuse you right from the start.
   
   There are very good sites on the web where you can access practical trading strategies that are easy to implement. One of those sites is Stress Free Traders ( StressFreeTraders com)
   
   They focus on short term day trading strategies that can help you pick and approach momentum stocks while reducing your trading risk.
   
   All in all, day trading is all about picking the best stock opportunities and deciding when to buy and when to sell with ease and simplicity. Once you learn to master your trading decisions, you can aspire to obtain consistent profitable results.

5 comments about How To Get Started In Electronic Day Trading.

1. Awesome ideas to make money with. I have been trading 35 years and feel the ideas in this book are timeless techniques that I know work. The book was written with experience and it shows. I've read many and this is one of the best.



2. I like some of the ideas presented by Mr. Nassar, however i think he needs to update his book and get a little bit more practical.
   
   When you make a trade either your going to lose money or your going to make money, and some other times you will break even. When you win some body else will lose and so forth, but that's NOT what's important.
   
   The most important aspect in day trading is the knowledge FILTER you employ to make your buy & sell decisions. There are many "fantastic" strategies outhere, but you need to test them in order to discover which ones help you the most.
   
   Complicated strategies that rely on a "boat load" of technical indicators can make you slow, and being slow in this game can be as dangerous as not knowing what to do in the first place.
   
   I think the worst thing that can happen to a beginner day trader is to get information overload. It's better to go step by step, and test a simple strategy that can show you how to focus on concrete ways to make money.
   
   Fortunatly there are some good sites on the web today that can show you how to trade stocks in practical and effective ways. One of those sites is Stress Free Traders ( StressFreeTraders com )
   
   In the end, stock investing & trading is all about buying and selling according to your knowledge FILTER. Once you master and follow youre proven filter parameters like a clock, you can expect to start making serious amounts of cash on a consistent basis.



3. Bought book, flipped through for 5 minutes, found good use starting a wood-fire. All the info contained here can be had for free on the internet. If you've been trading more then 2 days you already know more then the author of this book. Just plain awful!



4. Maybe "bad" is a bit harsh. David Nassar is a real and successful trader, and a guy who has years and years of experience training and managing highly successful traders to boot. He writes great articles for Active Trader and Futures magazines, and has written another book that I consider to be five-star outstanding.
   
   But this book is disappointingly basic. It focuses on the mechanics of how trading is done and gives very little, if any, actual trading methodologies. A quick look at the table of contents and you will get the overview. It seemed to me like half the book was discussing how an order is placed!
   
   Perhaps part of the problem is being outdated. Deciding how to route an order these days is a very insignificant factor in daytrading; the days of the SOES bandits are long, long gone. Broker's trading platforms now use smart routing technologies to get the best fill, and as a sharp trader you are using limit orders on stocks that have a 1 cent spread anyway. I suppose this was written back when you could take advantage of price differences between ECNs and Market Makers.
   
   Your time is much better spent reading his other book, Rules of the Trade, where you can actually learn a few things and become inspired.
   
   [...]



5. If there were no other books for those desiring to learn to trade this book would be ok. This covers a lot of the basics but not as well as many others available. I have been investing in equities online for five years - before that in mutual funds that I selected. I'm now looking to start trading based on technical analysis rather than fundamentals. Two books that I would suggest that are more comprehensive and easier to read are Toni Turner's book "A Beginner's Guide to Day Trading Online" and the best I have read so far by John Carter "Mastering the Trade".