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Title: Day Trade Online by Christopher A. Farrell ISBN: 0-471-33120-1 Publisher: John Wiley & Sons Pub. Date: 31 March, 1999 Format: Hardcover Volumes: 1 List Price(USD): $29.95 |
Average Customer Rating: 3.25 (163 reviews)
Rating: 4
Summary: ''Excellent Primer''
Comment: Even though this book might be dated(1999) it contains excellent ideas on day trading and tells about the author strategies on pecking away at the Specialist & Market Makers. It's very simple read,It tell's you to stick to a game plan to keep your profits ahead.
Good Read
Rating: 3
Summary: Might have been a good book but now obsolete
Comment: A few ideas in this book that aren't in other books. Unfortunately, the market system changed significantly since. NYSE shares can trade off the floor. There's before market and after market trading. Decimalization also is a major change. Some of the ideas are still useful in today's market so it might be worth a read just for that. But to blindly follow the advice here and assuming you can make a living on it is a receipt for disaster.
Author mentioned it isn't uncommon for a trader to make 100% returns in one year and compares it with the market doing 20% in a good year. HHHmmm...100% is halved because he mentions using using 100% margin. Even without the leverage, the risk isn't the same as buying and holding a portfolio of stocks. Author understates the risks involved in his strategy--the downside risk in buying for the 1/16 is still the price of the entire investment--bad things can happen even to low volitility stock when the broader market tumbles--the downside risk certainly is not just 1/16 mentioned in the book. Plus 20% is a _good_ return on the market but certainly not the best--returns of 40% isn't that rare and if you're speaking of picking 10 or so stocks, returns of 50% isn't that uncommon. In any case, the idea is to make day trading a part time or full time job. If that's the objective, you need to average the returns out and only the amount of money you make in excess of buying and holding an inexpensive no-load mutual fund should be considered your average return for your work. Not too many people have that much risk capital to make that work--the only reasonable option seems to be to start a hedge fund like the author did and charge the client for managing money. But a lay person probably won't attract too many clients because of zero professional trading experience factor--the author was a professional trader at a few major firms.
The author's own hedge fund only did 65% in the first year. I wonder how well he's doing now?
Rating: 2
Summary: Not Very Helpful Book
Comment: This book is based on the authors opinions instead of a book that gives crucial innformation. No technical analysis help and barely any fundamental help. Horrible book
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Title: The Day Trader's Survival Guide: How to Be Consistently Profitable in Short-Term Markets by Christopher A. Farrell ISBN: 0066620856 Publisher: HarperBusiness Pub. Date: 01 November, 2000 List Price(USD): $29.00 |
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Title: The Electronic Day Trader: Successful Strategies for On-line Trading by Marc Friedfertig, George West ISBN: 0071364285 Publisher: McGraw-Hill Trade Pub. Date: 24 August, 2000 List Price(USD): $16.95 |
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Title: A Beginner's Guide To Day Trading Online by Toni Turner ISBN: 1580622720 Publisher: Adams Media Corporation Pub. Date: 01 March, 2000 List Price(USD): $15.95 |
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Title: How to Get Started in Electronic Day Trading: Everything You Need to Know to Play Wall Street's Hottest Game by David S. Nassar, David S. Nasser ISBN: 0071345663 Publisher: McGraw-Hill Trade Pub. Date: 30 November, 1998 List Price(USD): $24.95 |
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Title: A Beginner's Guide to Short-Term Trading: How to Maximize Profits in 3 Days to 3 Weeks (Jataka Tale Series) by Toni Turner ISBN: 1580625703 Publisher: Adams Media Corporation Pub. Date: January, 2002 List Price(USD): $15.95 |
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