Synopses & Reviews
- Get started with an action plan
- Avoid day-trading pitfalls
- Position yourself for trading success
Start day trading today with this hands-on guide to mastering the markets
This plain-English guide shows you how day trading works, identifies its all-too-numerous pitfalls, and gets you started with an action plan. From classic and renegade strategies to the nitty-gritty of daily trading practices, it gives you the knowledge and confidence you need to keep a cool head, manage risk, and make decisions instantly as you buy and sell your positions.
- Understand day trading — discover the fundamentals of day trading, from what it is to how it works
- Start strategizing — get all the facts on the different strategies and research techniques day traders use to determine how and when to buy and sell their positions
- Pick up the tools of the trade — find out how to set up your office to improve your response times, choose the support services you need to research trades, and get through a treacherous trading day with your sanity intact
- Get down to the nitty gritty — grasp the day-to-day “stuff” that separates day trading from other types of trading, like paying taxes on your gains, measuring your daily trading performance, and much more
- Move beyond stocks — find out how to trade in commodities and derivatives, among other more exotic trades
Open the book and find:
- Market indicators and day trading strategies
- Advice on how to manage money and your positions
- Key characteristics of successful day traders
- Guidance on understanding risk and return
- How to differentiate trading, investing, and gambling
- A look at rules and regulations
- Research techniques used in day trading
- Tips for managing stress in the trading day
Synopsis
Day Trading For Dummies, 3rd Edition, will provide anyone interested in this quick-action trading for income with the nuts and bolts information, advice and, most importantly, a step-by-step plan of action for getting started day trading the market. It will include 25% updated and revised content, including:
- expanded coverage of day trading resources and sites available
- help choosing an online broker in the current market
- new trading products
- updated information on SEC rules and regulations (and tax laws),
- new investment options
- updated examples that reflect current market and economic conditions
Synopsis
In an ever-changing market, get the advantage of trading for yourselfDay trading is undoubtedly the most exciting way to make your own money. Before you begin, you need three things: patience, nerves of steel, and a well-thumbed copy of Day Trading For Dummies.
This plain-English guide shows you how day trading works, identifies its all-too-numerous pitfalls, and gets you started with an action plan. From classic and renegade strategies to the nitty-gritty of daily trading practices, it gives you the knowledge and confidence you'll need to keep a cool head, manage risk, and make decisions instantly as you buy and sell your positions.
- Expanded coverage of day trading resources and sites available
- Help choosing an online broker in the current market
- New trading products
- Updated information on SEC rules and regulations (and tax laws)
- New investment options
- Updated examples that reflect current market and economic conditions
Read Day Trading For Dummies and get the tips, guidance, and solid foundation you need to succeed in this thrilling, lucrative, and rewarding career!
About the Author
Ann C. Logue, MBA, has more than a dozen years of experience working in financial services and has taught business administration at the University of Illinois. She is a finance writer who has written numerous articles on investment and has edited publications on equity trading and risk management.
Table of Contents
Introduction 1
Part I: Getting Started with Day Trading 5
Chapter 1: So You Want to Be a Day Trader 7
Chapter 2: Planning to Succeed As a Day Trader 23
Chapter 3: Deciding What to Trade and How to Trade It 45
Chapter 4: Defining Trading: Risk, Reward, and Timing 69
Chapter 5: Regulation and the Modern Trader 81
Part II: Exploring Popular Day-Trading Strategies 97
Chapter 6: Managing Your Money and Positions 99
Chapter 7: Technical Analysis 101 115
Chapter 8: Following Market Indicators and Tried-and-True Day-Trading Strategies 137
Chapter 9: Increasing Risk and Potential Return with Short Selling and Leverage 161
Chapter 10: Looking for Easy Profits: Navigating the Tricky World of Arbitrage and High-Frequency Trading 177
Chapter 11: All About Accounts 191
Part III: Necessities and Niceties for Successful Day Trading 205
Chapter 12: Equipping to Day Trade 207
Chapter 13: Researching Research Services 215
Chapter 14: Stress Management in the Trading Day 231
Chapter 15: Taxes for Traders 243
Chapter 16: But Did You Make Money? Testing, Tracking, and Evaluating Performance 263
Chapter 17: Day Trading for Investors 283
Part IV: The Part of Tens 295
Chapter 18: Ten Good Reasons to Day Trade 297
Chapter 19: Ten or So Good Reasons to Avoid Day Trading 303
Chapter 20: Ten Common Day-Trading Mistakes 309
Chapter 21: Ten Tested Money-Management Techniques 315
Appendix: Additional Resources for Day Traders 321
Index 329