The Truth About Day Trading Stocks: A Cautionary Tale About Hard Challenges and What It Takes To Succeed
The Truth About Day Trading Stocks
A realistic guide to day trading today's stock market
In terms of the potential for heavy financial losses, day trading is a high-risk profession. No one should contemplate day trading without giving thought to the ways he can lose, and all the ways to lessen or avoid them. Yet many people enter the game with unrealistic expectations, unaware of what it takes to succeed. Seminars and software alone do not make a successful day trader, cautions author Josh DiPietro. 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. In The Truth About Day Trading Stocks, DiPietro offers the amateur day trader a brutally honest look at the pitfalls of day trading—and how to hopefully avoid them.
Written in an engaging and sometimes humorous tone, The Truth About Day Trading Stocks draws on the author's own experiences as a day trader to offer a clear-cut departure from typical "golden goose" strategies promising instant wealth. Instead, he attempts to slow down the dangerous fervor of the average amateur and demonstrate the ways you can become a professional and not lose your shirt in the process. The Truth About Day Trading Stocks shows how trading decisions are bent and shaped by emotions, and why it is critical to know yourself, understand risk, and remember that increasing your skill level is a gradual, ongoing process—there's always more to learn! After dispensing with popular illusions, DiPietro proceeds to offer realistic, practical trading advice—comparing pay-per-trade with pay-per-share brokers, determining which works best and when, offering suggestions on how to avoid the prospect of perfect trades turning ugly, and more. At the end of the book, he also includes a section called "Rules to Remember," a list of over eighty rules, simply stated and easy to grasp, to benefit amateurs' performance.
Throughout the book, the author describes his development of acute self-awareness while figuring out how to succeed. Through that blunt self-portrayal, the goal of The Truth About Day Trading Stocks is to help you create a disciplined mind-set and apply it to your own successful trading style.
What people are saying - Write a review
This is Josh DiPietro (Day Trader Josh), this is my book, I wrote it. But for some reason the ISBN number is different then what my publisher has. If you read my books and have been trying to contact me without success I apologize. Feel free to call my trade desk to discuss the book and my strategy. 760.. 754.. 12 30
"The Truth" is most definitely what this intra-day trading stocks book is all about. I have been a struggling online day trader for about four years now. The stock market has been a complete nightmare for me. I have been reading a lot of books lately, and The Truth About Day Trading Stocks has been the one that stands out the most. Josh DiPietro, Day Trader Josh, really knows the hard side of day trading stocks. I feel like he is in the trenches with all of us amateurs. His advice is straight-up, he holds no punches. If you are looking for a day trading stocks book that is gunna show you how to make loads of money with some proprietary trading strategy, then this is not the book. Josh purposefully sways from giving the "golden goose" of strategies that will turn you into a millionaire overnight. He teaches just the opposite, he shows the hang-ups to day trading, he shows all the pitfalls and landmines. This book should be a requirement for all beginner day traders. Unfortunately, many beginner day traders think they are advanced. I strongly suggest all degrees of day traders read this book, especially if you have not yet figured out why you can't generate consistent profits.
Trading Consistently All
YOUR STOCK SHOULD HAVE AN AVERAGE DAILY VOLUME OF
Why News Can Be Just Noise
The Truth about Training and Preparation
Picking the Right Online Broker
Trading for Skill versus Trading for Income
The Perfect Trading
Knowing Your Financial Limitations
Minimizing Your Risk with StopLoss
A Skilled Strategy
Gambling versus Day Trading
The Worst Trading
APPENDIX Rules to Remember
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The Truth About Day Trading Stocks: A Cautionary Tale About Hard Challenges ...
No preview available - 2009