Day Trading for Dummies

by Ann C. Logue

Book Overview

Day trading is undoubtedly the most exciting way to make money from home. It's also the riskiest. Before you begin, you need three things: patience, nerves of steel, and a well-thumbed copy of Day Trading For Dummies- the low-risk way to find out whether day trading is for you. This plain-English guide shows you how day trading works, identifies its all-too-numerous pitfalls, and get you started with an action plan. From classic and renegade strategies...

• Format: Paperback
• Language: English
• ISBN: 0470171499
• ISBN13: 9780470171493
• Release Date: October 2007
• Publisher: For Dummies
• Length: 336 Pages
• Weight: 1.25 lbs.
• Dimensions: 0.8" x 7.4" x 9.1"

Customer Reviews

Day trading

this book was excellent...it helped me realize this was a profession that just was not for me...saving me countless dollars in mistakes and inefficiencies...it trully paid for itself

Everyone should read this before they get started

Despite the "For Dummies" title, this book is not for dummies but for smart people who want to avoid the mistake most dummies make - not doing your homework! This book is not going to make you a day trader, in other words you're not going sit down after reading this book, open an account, and be a profitable trader. But what it will do is give you the ability to realize what you're getting yourself involved in on all different levels. You'll see what kind of work is involved, what you need to start studying, what the work flow is, what the risks are, what lifestyle it is, and perhaps most vital, the psychological issues you need to confront. That is extremely CRITICAL in my view for anyone to do prior to saying to yourself "I'm going to become a day trader". Logue's book is an excellent way to conduct the due diligence process that so many people neglect prior to opening an account. Logue is not too optimistic or pessimistic, it is not one of those "Make millions trading online" or "Trading ruined my life" books. Most important, it stresses that trading is a business, an entrepreneurial venture, and needs to always be treated as such. I also give props to the traditional "For Dummies" layout, which I'm a big fan of - its easy to reference and get to what you need. I think once you read this book, you'll have a good idea of what trading is like which will help you decide whether or not it is right for you. It also helps point you in the right direction as to how to get started. If more people did this in advance of opening an account, the statistics for failed day traders would no doubt be smaller.

Very Informative

Very good book, informative, the right level of detail, well written, easy to ready, a good starting book to learn about day trading.

Great for beginners

This book has been wonderful for me explaining the very basics of day trading! I would highly reconmend this book to anyone who wants to see what it's all about and how things work. It's obviously not meant to be a detailed book but more of "what this means and what that means". Perfect for dummmies!

More than for just Dummies

I received this book as a gift and, at first, I was skeptical. I spent 20 years working for investment banks starting as a runner on the floor and retiring as the head of a trading desk. "What," I asked, "does this book have to teach me?" Ah, beware of hubris! I was pleasantly surprised at what I learned. The book has a good introduction to how to obtain the sorts of information that a real day trader will need, but is best on the emotional. Emotions are almost always overlooked. I've seen lots of bright people rise to a certain point on a trading desk and then just implode because they couldn't handle the stress. And these were people working with other's money. It is even worse when it's your own dough on the line. The guy who practices day trading until he has his system all ready and then blows out a month after going live is very common. Early in my career I started my own firm. This was before day trading was even technically possible and the firm was in the options pits. I got on the emotional roller coaster: on good days it was "Come on Honey, its steak dinner time!" On bad days I tried to save money by rationing toothpaste. It all ended in tears. This is all by way of stressing the role emotions play in successfully trading the market. This book discusses strategies actually employed by some of the best traders on Wall Street and the book is worth looking into for that alone.