A realistic guide to day trading today's stock market The Truth About Day Trading Stocks is an uncompromisingly realistic look at the challenges involved in becoming a successful day trader. Based on author Josh DiPietro's ten years of experience as a day trader, this book dissects the psychological and strategic pitfalls that cause most aspiring day traders to fail. Written in an engaging and sometimes humorous tone, The Truth About Day Trading Stocks relates his own experiences, and in so doing, provides the reader with valuable lessons. This book is an antidote to trading industry hype that…mehr
A realistic guide to day trading today's stock market The Truth About Day Trading Stocks is an uncompromisingly realistic look at the challenges involved in becoming a successful day trader. Based on author Josh DiPietro's ten years of experience as a day trader, this book dissects the psychological and strategic pitfalls that cause most aspiring day traders to fail. Written in an engaging and sometimes humorous tone, The Truth About Day Trading Stocks relates his own experiences, and in so doing, provides the reader with valuable lessons. This book is an antidote to trading industry hype that encourages traders to believe that trading is easily learned and is a fast path to wealth. It explains that the conventional route of attending seminars, buying software, and opening an account with a major brokerage house is a path to failure. Instead, a trader must learn hard lessons of self-discipline, consistency, and staying in the game for the long haul to have a real chance of success. The goal of this guide is to slow down the over-eager, over-optimistic amateur day trader by imparting a realistic view of the challenges of day trading and providing tools, techniques, and insights to become a successful trader without losing a huge amount of money in the process. Josh DiPietro (West Dennis, MA and New York, NY) has been day trading stocks for ten years. He operates a Web site, www.daytraderjosh.com, and provides training programs for aspiring day traders.Hinweis: Dieser Artikel kann nur an eine deutsche Lieferadresse ausgeliefert werden.
JOSH DIPIETRO has been day trading stocks for ten years. He operates a web site (www.daytraderjosh.com) and provides training programs for aspiring day traders. DiPietro's trading approach involves making many trades every day, taking small profits, exiting losing trades quickly, and minimizing transaction costs. He is a critic of the educational paths offered by the established trading industry and is dedicated to providing an alternative educational approach for aspiring traders.
Inhaltsangabe
Preface xiii Acknowledgments xvii Introduction: The Wholehearted Amateur 1 Part I Psychological Truths and What to Do about Them 5 Chapter 1 Truths about Yourself to Know First 7 How Often Do You Trade, and How Profitably? 10 How Much Are You Trading in Capital and Leverage? 10 How Long Have You Been Trading? 12 What Financial Instruments Are You Trading? 13 Are You Trading Other Peoples' Money or Your Personal Capital? 13 Are You a Licensed Trader, or Trading Independently? 13 How Were You Trained? 14 Rules to Remember 14 Chapter 2 How Emotions Can Destroy a Trade 15 The Fear Factor 16 Greed Is Not Good 18 Rules to Remember 21 Chapter 3 Preventing Overconfidence 23 Ignoring Your Predetermined Stop/Loss Price 24 Holding Too Long 24 Rules to Remember 26 Chapter 4 From Impatient to Cool, Calm, and Collected 27 The Waiting Is the Hardest Part 29 Deciding to Learn More 31 Rules to Remember 33 Chapter 5 Taking Breaks 35 Break When Your Confidence Is Low 38 Break Because It's Just Not Working 38 Break and Then What? 39 Rules to Remember 42 Part II The Truth about Your Risk 43 Chapter 6 The Importance of Risk Management 45 The Amount of Trading Capital Allocated to Each Trade 46 The Timing for Allocating Capital to a Trade 47 Overexposure to Risk 48 The Stock or Company You're Trading 49 The Time of Day You're Trading 49 Gambling 50 Rules to Remember 51 Chapter 7 Why Overexposure to the Market Can Hurt 53 Time versus Timing 54 Rules to Remember 58 Chapter 8 Budgeting: Knowing Your Financial Limitations 59 Don't Quit Your Day Job: Catch- 22 60 Crunching the Numbers 62 Cushion Cash 63 Rules to Remember 64 Chapter 9 Minimizing Your Risk with Stop/Loss 65 Making Stop/Loss Automatic 65 Rules to Remember 71 Chapter 10 Averaging-Down: A Skilled Strategy 73 To Average-Down Successfully Takes Mastery 74 Know-How Doesn't Grow Overnight 75 Rules to Remember 77 Chapter 11 Gambling versus Day Trading 79 Rules to Remember 82 Part III Intraday Trading Truths 83 Chapter 12 Why Some Traders Make More Mistakes 85 Pick Your Stocks Carefully 86 Focus, Focus, Focus 87 Pay Attention to Market-Moving News 90 Rules to Remember 91 Chapter 13 Trading Consistently All Day 93 Rules to Remember 98 Chapter 14 Stock Picking: Simplifying the Process 99 Your Stock Should Have an Average Daily Volume of One Million Shares or More 100 Choose Stocks between $10 and $ 100 101 Pick Stocks That Display Tradable Intraday Price Swings 102 Don't Trade Stocks Affected by Strict Federal Regulations 102 Beware of Stocks Directly Affected by Current News Headlines 104 Rules to Remember 105 Chapter 15 Why News Can Be Just Noise 107 Trading on News versus Monitoring News 109 Rules to Remember 111 Part IV The Truth about Training and Preparation 113 Chapter 16 About Those Training Programs 115 Seminars for the Greenhorns 116 Training Programs for the More Experienced Trader 119 Tips for Selecting the Right Program 120 Rules to Remember 123 Chapter 17 Picking the Right Online Broker: Pay-per-Share versus Pay-per-Trade 125 Starting Out with Pay-per-Trade 125 Transitioning to Pay-per-Share 126 High Leverage Pros and Cons 130 Hang on to Your Pay-per-Trade Account 131 Rules to Remember 132 Chapter 18 Paper-Trading Strategy 133 Paper Trading for the Amateur 134 A Word about Advanced Paper Trading 139 Rules to Remember 140 Chapter 19 Trading for Skill versus Trading for Income 141 Building a Foundation of Trading Skills 141 First Level 144 Second Level 146 Third Level 147 Summary 148 Rules to Remember 150 Chapter 20 The Perfect Trading Day 151 Early Morning Activities 151 Pre-market Trading 153 The Opening Bell 156 Midday Activities 157 The Last Hour of Trading 159 The Closing Bell 160 After-Market Trading 160 Homework 161 Chapter 21 The Worst Trading Day 163 Early Morning Activities 163 Premarket Trading 164 The Opening Bell 166 Midday Activities 166 Last Hour of Trading 167 The Closing Bell 168 After-Market Trading 168 Homework 169 Conclusion: Parting Words 171 Appendix: Rules to Remember 175 About the Author 181 Index 183
Preface xiii Acknowledgments xvii Introduction: The Wholehearted Amateur 1 Part I Psychological Truths and What to Do about Them 5 Chapter 1 Truths about Yourself to Know First 7 How Often Do You Trade, and How Profitably? 10 How Much Are You Trading in Capital and Leverage? 10 How Long Have You Been Trading? 12 What Financial Instruments Are You Trading? 13 Are You Trading Other Peoples' Money or Your Personal Capital? 13 Are You a Licensed Trader, or Trading Independently? 13 How Were You Trained? 14 Rules to Remember 14 Chapter 2 How Emotions Can Destroy a Trade 15 The Fear Factor 16 Greed Is Not Good 18 Rules to Remember 21 Chapter 3 Preventing Overconfidence 23 Ignoring Your Predetermined Stop/Loss Price 24 Holding Too Long 24 Rules to Remember 26 Chapter 4 From Impatient to Cool, Calm, and Collected 27 The Waiting Is the Hardest Part 29 Deciding to Learn More 31 Rules to Remember 33 Chapter 5 Taking Breaks 35 Break When Your Confidence Is Low 38 Break Because It's Just Not Working 38 Break and Then What? 39 Rules to Remember 42 Part II The Truth about Your Risk 43 Chapter 6 The Importance of Risk Management 45 The Amount of Trading Capital Allocated to Each Trade 46 The Timing for Allocating Capital to a Trade 47 Overexposure to Risk 48 The Stock or Company You're Trading 49 The Time of Day You're Trading 49 Gambling 50 Rules to Remember 51 Chapter 7 Why Overexposure to the Market Can Hurt 53 Time versus Timing 54 Rules to Remember 58 Chapter 8 Budgeting: Knowing Your Financial Limitations 59 Don't Quit Your Day Job: Catch- 22 60 Crunching the Numbers 62 Cushion Cash 63 Rules to Remember 64 Chapter 9 Minimizing Your Risk with Stop/Loss 65 Making Stop/Loss Automatic 65 Rules to Remember 71 Chapter 10 Averaging-Down: A Skilled Strategy 73 To Average-Down Successfully Takes Mastery 74 Know-How Doesn't Grow Overnight 75 Rules to Remember 77 Chapter 11 Gambling versus Day Trading 79 Rules to Remember 82 Part III Intraday Trading Truths 83 Chapter 12 Why Some Traders Make More Mistakes 85 Pick Your Stocks Carefully 86 Focus, Focus, Focus 87 Pay Attention to Market-Moving News 90 Rules to Remember 91 Chapter 13 Trading Consistently All Day 93 Rules to Remember 98 Chapter 14 Stock Picking: Simplifying the Process 99 Your Stock Should Have an Average Daily Volume of One Million Shares or More 100 Choose Stocks between $10 and $ 100 101 Pick Stocks That Display Tradable Intraday Price Swings 102 Don't Trade Stocks Affected by Strict Federal Regulations 102 Beware of Stocks Directly Affected by Current News Headlines 104 Rules to Remember 105 Chapter 15 Why News Can Be Just Noise 107 Trading on News versus Monitoring News 109 Rules to Remember 111 Part IV The Truth about Training and Preparation 113 Chapter 16 About Those Training Programs 115 Seminars for the Greenhorns 116 Training Programs for the More Experienced Trader 119 Tips for Selecting the Right Program 120 Rules to Remember 123 Chapter 17 Picking the Right Online Broker: Pay-per-Share versus Pay-per-Trade 125 Starting Out with Pay-per-Trade 125 Transitioning to Pay-per-Share 126 High Leverage Pros and Cons 130 Hang on to Your Pay-per-Trade Account 131 Rules to Remember 132 Chapter 18 Paper-Trading Strategy 133 Paper Trading for the Amateur 134 A Word about Advanced Paper Trading 139 Rules to Remember 140 Chapter 19 Trading for Skill versus Trading for Income 141 Building a Foundation of Trading Skills 141 First Level 144 Second Level 146 Third Level 147 Summary 148 Rules to Remember 150 Chapter 20 The Perfect Trading Day 151 Early Morning Activities 151 Pre-market Trading 153 The Opening Bell 156 Midday Activities 157 The Last Hour of Trading 159 The Closing Bell 160 After-Market Trading 160 Homework 161 Chapter 21 The Worst Trading Day 163 Early Morning Activities 163 Premarket Trading 164 The Opening Bell 166 Midday Activities 166 Last Hour of Trading 167 The Closing Bell 168 After-Market Trading 168 Homework 169 Conclusion: Parting Words 171 Appendix: Rules to Remember 175 About the Author 181 Index 183
Rezensionen
"DiPietro gives an insight int to what it takes to become a day trader. And he should know..." (City A.M. July 27th 2009)
Es gelten unsere Allgemeinen Geschäftsbedingungen: www.buecher.de/agb
Impressum
www.buecher.de ist ein Internetauftritt der buecher.de internetstores GmbH
Geschäftsführung: Monica Sawhney | Roland Kölbl | Günter Hilger
Sitz der Gesellschaft: Batheyer Straße 115 - 117, 58099 Hagen
Postanschrift: Bürgermeister-Wegele-Str. 12, 86167 Augsburg
Amtsgericht Hagen HRB 13257
Steuernummer: 321/5800/1497
USt-IdNr: DE450055826
