Day Trade Part-Time (Wiley Online Trading for a Living) - Hardcover

Cook, John; Szwec, Jeanette

Hardcover

ISBN 10: 047139310X ISBN 13: 9780471393108

Verlag: Wiley, 2000

Inhaltsangabe

The Quick-Start Guide for Becoming a Successful Day Trader-In Your Spare Time
Are you intrigued by stories of inexperienced day traders pocketing a year's salary on one well-placed trade? Day Trade Part-Time will show you how to start day trading at your own pace and-by trading before work, after work, or whenever you have a few minutes-grab a foothold in this exciting, potentially lucrative trading phenomenon.
Today's up-and-down markets have proven to be ideal for scalping quick day trading profits, and Day Trade Part-Time can get you started today. Look to this comprehensive and detailed guide for:
* Information and resources guaranteed to shave months off your learning curve
* Expert guidance on setting up your own day trading account
* Strategies to test your skills before placing your own money on the line
Whatever your current career, it's long past time you discovered the lucrative possibilities of electronic day trading. Let Day Trade Part-Time give you a solid foundation of trading knowledge-and the confidence you need to open an account and carve out your own space in this fascinating, fast-action marketplace.
Look for other in-depth trading guides from the Wiley Online Trading for a Living series, including:
How I Trade for a Living by Gary Smith
Trade Options Online by George A. Fontanills
Trade IPOs Online by Matthew D. Zito and Matt Olejarczyk
Please visit our Web site at www.wileyfinance.com

Über diesen Titel

Über die Autorin bzw. den Autor

JOHN COOK has traded full-time since 1997. Formerly a department head with a major rail carrier, president of a product development and marketing company, and partner in a development company, Cook has also used his trading experience and knowledge to codevelop (with Jeanette Szwec) a seminar for part-time traders.
JEANETTE SZWEC spent most of her professional career as a consumer marketing executive for a Fortune 500 company. Her carefully developed day trading strategy has allowed her to earn a comfortable living as a professional day trader.

Aus dem Klappentext

The day trading book for the rest of us...Successful day traders come in all shapes and sizes, and from every conceivable profession. Many begin as part-time traders-holding on to their day jobs, learning the fine points of day trading at their own pace, and substantially limiting their downside risks while enjoying the same limitless upside potential of other day traders.
Day Trade Part-Time places you front and center in this trading revolution. Authors John Cook and Jeanette Szwec-veteran day traders who taught themselves the rules through trial-and-error-have put together today's most straightforward, no-frills look at how anyone can ease their way into day trading safely and sensibly.
Showing you how to walk before you run, this one-of-a-kind guidebook discusses:
* Simulation trading techniques to test and hone your new knowledge before actually placing your money on the table
* Timing the market like a day trader even if you are buying for the long run
* Today's most highly rated books, seminars, and Web sites-to help you establish the necessary knowledge foundation
* Brokerage firms that specialize in Level I and Level II quotes, and how to select the right broker for your needs
* How the new after-dinner trading hours make it increasingly easy and lucrative to become a part-time trader
* Electronic Communication Networks (ECNs)-how they work and which are right for you
* Short-Term Momentum and Consolidation Breakout-the two strategies behind the majority of day trading action
* Detailed charts describe how stocks performed during real-time trading-and why
* Professional money management strategies for building wealth while limiting losses
* SureStart Suggestions-strategically placed recommendations for developing a trading program based on your own skills and styles
Packed with information most traders must spend years acquiring, Day Trade Part-Time will help you become a careful, knowledgeable, and successful electronic day trader.

Auszug. © Genehmigter Nachdruck. Alle Rechte vorbehalten.

Pitfalls of Trading

We must start with a word of caution. Trading is very difficult to master successfully. Trading is complex, not only because of the scope of what you must learn, but also because of many other factors involved. We want you to know that we did not write this book to encourage you to trade. Our book will show you the risks and rewards of trading. It will also explain what it takes in time, commitment, education, equipment, and dollars to become a consistently profitable part-time trader. If you decide this is what you want, you will have the information necessary to achieve that goal in the most expedient and effective manner.

Trading, like any other business, has its share of failures. In fact, it has a high percentage of failures, with estimates ranging from 70 to 80 percent. Please remember this when you make your decision about whether you should trade or not. Trading is a zero sum game. A zero sum game is like a game of musical chairs, one player takes from another; one wins and another must lose. In this business of trading, you are up against the best professional traders, market makers, and even powerful institutional investors.

For most traders, including the authors of this book, a major hurdle in trading is controlling your emotions while trading. Discipline is critical. You may say to yourself, as we once did, "Emotions? Not a problem for me." Prepare to be surprised!

When emotions are in charge, logic and objectivity are left at the front door. Your anxiety kicks in. The charts and data seem to be running faster than they did when you were paper trading. You are no longer viewing the charts with the same calmness and clarity as you did when paper trading. The larger your share size, the more anxiety!

We hope you are beginning to understand that emotions make trading very difficult. Fortunately, we have many tools and technical analyses available that will allow you to see the markets objectively, and to trade with confidence, not with your emotions.

Additionally, you can paper trade or simulation trade for however long it takes to master the technical analysis techniques you want to use. You will build confidence in your trading skills by paper trading. You can then move into live trading with the same confidence by using small share lots. With this approach, your logic, not your emotions, will control your trading.

In the section titled "Your Trading Account and the Learning Curve" in Chapter 6, you will see what can happen if the learning curve begins poorly, as in our example of Trader I. Total disaster! Fortunately, our Trader II (later in the chapter) took a different path leading to success as a part-time trader.

In Appendix B, you will find an article on day trading prepared by the Securities and Exchange Commission, Office of Investor Education and Assistance. Although written primarily for full-time traders, we strongly suggest that each of you read this article. It covers many of the risks associated with trading, particularly for those traders who have not followed the path of discipline and education...

Details zur Ausgabe

• Verlag: Wiley
• Erscheinungsdatum: 2000
• Sprache: Englisch
• ISBN 10: 047139310X
• ISBN 13: 9780471393108
• Einband: Gebundene Ausgabe
• Auflage: 1
• Anzahl der Seiten: 224
• Kontakt zum Hersteller: WROX; https://www.wiley.com/en-us; ; 111 River Street; Hoboken; NJ; 7030; USA
• Verantwortliche Person: Sebastian Seckfort; 4.92E+12; kontakt@bookfarm.de; ; Luftpark 2; Löbnitz; Sachsen; 4509; Deutschland