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Truth about Day Trading Stocks A Cautionary Tale about Hard Challenges and What It Takes to Succeed

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ISBN-10: 0470448482

ISBN-13: 9780470448489

Edition: 2009

Authors: Josh DiPietro

List price: $50.00
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Book details

List price: $50.00
Copyright year: 2009
Publisher: John Wiley & Sons, Limited
Publication date: 7/17/2009
Binding: Hardcover
Pages: 208
Size: 6.25" wide x 9.30" long x 0.77" tall
Weight: 1.056
Language: English

Preface
Acknowledgments
Introduction: The Wholehearted Amateur
Psychological Truths and What to Do about Them
Truths about Yourself to Know First
How Often Do You Trade, and How Profitably?
How Much Are You Trading in Capital and Leverage?
How Long Have You Been Trading?
What Financial Instruments Are You Trading?
Are You Trading Other Peoples' Money or Your Personal Capital?
Are You a Licensed Trader, or Trading Independently?
How Were You Trained?
Rules to Remember
How Emotions Can Destroy a Trade
The Fear Factor
Greed Is Not Good
Rules to Remember
Preventing Overconfidence
Ignoring Your Predetermined Stop/Loss Price
Holding Too Long
Rules to Remember
From Impatient to Cool, Calm, and Collected
The Waiting Is the Hardest Part
Deciding to Learn More
Rules to Remember
Taking Breaks
Break When Your Confidence Is Low
Break Because It's Just Not Working
Break and Then What?
Rules to Remember
The Truth about Your Risk
The Importance of Risk Management
The Amount of Trading Capital Allocated to Each Trade
The Timing for Allocating Capital to a Trade
Overexposure to Risk
The Stock or Company You're Trading
The Time of Day You're Trading
Gambling
Rules to Remember
Why Overexposure to the Market Can Hurt
Time versus Timing
Rules to Remember
Budgeting: Knowing Your Financial Limitations
Don't Quit Your Day Job: Catch-22
Crunching the Numbers
Cushion Cash
Rules to Remember
Minimizing Your Risk with Stop/Loss
Making Stop/Loss Automatic
Rules to Remember
Averaging-Down: A Skilled Strategy
To Average-Down Successfully Takes Mastery
Know-How Doesn't Grow Overnight
Rules to Remember
Gambling versus Day Trading
Rules to Remember
Intraday Trading Truths
Why Some Traders Make More Mistakes
Pick Your Stocks Carefully
Focus, Focus, Focus
Pay Attention to Market-Moving News
Rules to Remember
Trading Consistently All Day
Rules to Remember
Stock Picking: Simplifying the Process
Your Stock Should Have an Average Daily Volume of One Million Shares or More
Choose Stocks between $10 and $100
Pick Stocks That Display Tradable Intraday Price Swings
Don't Trade Stocks Affected by Strict Federal Regulations
Beware of Stocks Directly Affected by Current News Headlines
Rules to Remember
Why News Can Be Just Noise
Trading on News versus Monitoring News
Rules to Remember
The Truth about Training and Preparation
About Those Training Programs
Seminars for the Greenhorns
Training Programs for the More Experienced Trader
Tips for Selecting the Right Program
Rules to Remember
Picking the Right Online Broker: Pay-per-Share versus Pay-per-Trade
Starting Out with Pay-per-Trade
Transitioning to Pay-per-Share
High Leverage Pros and Cons
Hang on to Your Pay-per-Trade Account
Rules to Remember
Paper-Trading Strategy
Paper Trading for the Amateur
A Word about Advanced Paper Trading
Rules to Remember
Trading for Skill versus Trading for Income
Building a Foundation of Trading Skills
First Level
Second Level
Third Level
Summary
Rules to Remember
The Perfect Trading Day
Early Morning Activities
Pre-market Trading
The Opening Bell
Midday Activities
The Last Hour of Trading
The Closing Bell
After-Market Trading
Homework
The Worst Trading Day
Early Morning Activities
Premarket Trading
The Opening Bell
Midday Activities
Last Hour of Trading
The Closing Bell
After-Market Trading
Homework
Conclusion: Parting Words
Appendix: Rules to Remember
About the Author
Index