Day Trading For Dummies

Day Trading For Dummies

Day Trading For Dummies

In an ever-changing market, get the benefit of trading for yourselfDay trading is unquestionably the most interesting way to make your very own money. Prior to you start, you require 3 things: persistence, 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 mistakes, and gets you began with an action plan. From classic and renegade strategies to the fundamentals of day-to-day trading practices, it offers you

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Start Day Trading Now: A Quick and Easy Introduction to Earning money While Managing Your Risk

Start Day Trading Now: A Quick and Easy Introduction to Making Money While Managing Your Risk

Day trading, or intraday trading, is a method that works similar to it sounds: you get in a trade including one or more stocks (or another security) and exit the trade– which you have actually just held onto for seconds, minutes, or hours– by the end of the day. The plan is to make a trade and exit with an earnings– the earlier the much better– and still get an excellent night’s sleep.
Because uninformed traders have actually made mistakes in the past, numerous tales about day trading exist. In Start Day Trading Now, you’l.

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4 thoughts on “Day Trading For Dummies

  1. 12 of 12 people found the following review helpful
    5.0 out of 5 stars
    Worth it for the chapter on taxes alone, March 9, 2014
    By 
    Darwin “Computer consultant” (Redmond, WA United States) –

    Verified Purchase(What’s this?)
    I’ve read many books on day trading. Most cover techniques and psychology for trading in quite good detail, and certainly in more detail than covered here. After all, these “…for Dummies” books are intended to be an overview and cover more breadth than depth.

    That being said, I find this to be not just an excellent overview as intended, but a real gem for the chapter covering the tax situation traders must deal with. None of the other books I’ve read have covered this!

    If you’re aspiring to be a day trader full-time, you need to know about Form 3115 and the mark-to-market election, filing 1040ES and paying taxes on estimated income four times a year, and how important good record keeping is for trades and deductions. You most certainly need to talk to a good tax expert or CPA to work through this, but at least after reading this book you’ll have a general understanding of the process and what topics to run by any potential tax advisor before you hire them.

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  2. 7 of 8 people found the following review helpful
    5.0 out of 5 stars
    Great introduction, May 31, 2014
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    Verified Purchase(What’s this?)
    This review is from: Day Trading For Dummies (Kindle Edition)
    This is a very good introduction to Day Trading. The author explains all the key aspects, but also spends a lot of time exploring the psychology and type of person who can be successful at day trading. There are lots of references, and the information is current.

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  3. 38 of 38 people found the following review helpful
    4.0 out of 5 stars
    Should be titled “Start Day Trading Later”, November 7, 2011
    This review is from: Start Day Trading Now: A Quick and Easy Introduction to Making Money While Managing Your Risk (Paperback)
    I picked up Michael Sincere’s book, “Start Day Trading Now” from my local bookstore because I got so caught up reading it that I decided to buy it right then and there vs. buying from the Kindle bookstore like I usually do. I took it home and read it cover to cover and I’m currently going through my second read through. It is a bit dense with 181 pages of actual writing that is chock full of definitions, charts, and various anecdotes. I’m not exceptionally new to investing, but am a total beginner when it comes to trading, and Mr. Sincere’s book was perfect for me.

    At first, because of the title, I thought it would provide valuable information on how to choose a good discount broker and have more detailed insights into the daily going-ons of an actual day trader. Although the last 30 pages or so are supposed to introduce you to the life, it’s really just an interview with some different day traders providing their own tips and tricks (what indicators they use, what they trade and how, etc.) but it’s too over the top for a trader just starting out. What I wanted to know is more of how to pick quality stocks and the best ways to find them. Mr. Sincere also has a repeating theme throughout this book: day trading is NOT for anyone. If you can’t have a steeled emotional state while trading, day trading is not for you. If you can’t cut your losses short, day trading is not for you. If you are not disciplined, day trading is not for you. As a matter of fact, an author that Mr. Sincere seems to idolize a bit in the book, says in her own that day trading is in fact not for the faint at heart. She states the three “B’s” of day trading: bucks, brains, and balls. Basically, if you don’t have those, day trading is probably not for you.

    What I gleaned from this book is that if you don’t go into the market knowing what you need to know, you could lose pretty badly. Mr. Sincere’s book only gets you 10% of the way there.

    BUT!

    This book is a GREAT 10% and it touches most of the basics of what you need to know, in order to point you in the right direction. This book never claims to be in-depth and with what I’ve learned in this book, I’ve decided to hold off day trading until I get at least five more books and months (or more) of experience paper trading. Then I only want to go in with the minimum requirement of $25k so that I can’t lose too big.

    Summary: For those of you looking for a good place to start, inquire within the pages of this book. NOT for those who want to start actually trading tomorrow, IS for the novice who wants to learn what will eventually be required to day trade in the months ahead.

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  4. 9 of 9 people found the following review helpful
    5.0 out of 5 stars
    Fantastic book for the novice trader!, June 19, 2011
    By 
    LaVelle Ward (Chicago, IL) –

    Verified Purchase(What’s this?)
    This review is from: Start Day Trading Now: A Quick and Easy Introduction to Making Money While Managing Your Risk (Paperback)
    This book is chock full of information that comes at you fast in a great conversational tone. Its easy to understand and a lot of the methods are great to apply to even your long term investment strategy.

    Because its a book for beginners, don’t expect this to be the end all book for day trading. Keep your education going but this is a great start!

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