Day Trading For Dummies

by Ann C. Logue

Day trading is undoubtedly the most exciting way to make money from home. It's also the riskiest. Before you begin, you need three 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 to the nitty-gritty of daily trading practices, it gives you the knowledge and confidence you'll need to keep a cool head, manage risk, and make decisions instantly as you buy and sell your positions. Learn how You'll also find Top-Ten Lists of good reasons to go into day trading, or run from it in terror, as well as lists of the most common (and expensive) mistakes day traders make. Read Day Trading For Dummies and get the tips, guidance, and solid foundation you need to succeed in this thrilling, lucrative and rewarding career.

Genres: Finance, Business, Nonfiction, Self Help, Audiobook, Reference, Money

336 pages, Paperback

Published January 1, 2007

Reviews

[JP · Rating 3 out of 5]

Solid coverage in the usual Dummies series format, which means it's targeted to the novice or potentially interested day trader. What's most important is that she provides critical caveats and considerations, plus a reality check about the typical day in the life. Some of the company and news source entries are already outdated (a year after the 2011 edition), but that reflects the ever-changing nature of the industry.

[Paul · Rating 3 out of 5]

Did not cover technical analysis enough for me. The book was more concerned about the psychology of a trader than anything else. I did become more clear on definitions and terms that I see thrown around the trading communities more.

[BLACK CAT · Rating 2 out of 5]

I think I will read about swing trading now.
I did not enjoy the idea of trading debt money.
Good introduction.

[Tanmay Jadhav · Rating 1 out of 5]

Ah! i wish i could just rate it a zero star.

This book is an un-organised mess. It has curated super technical stuff from all around the market and put it into the book even if it doesn't concern day trading.

The books seems to focus too heavily on positional and fundamental trading and just asks us to be a good lad and apply those concepts to day trading which in the author's own words is very very different from the former.

Please don't read this as a started. I'm sure it'll just leave you dis-illusioned. May i recommend "How i day trade for a living"- Andrew Aziz as a started book for anybody interested in day trading.

Uh.

[John · Rating 1 out of 5]

A VERY accurate title. Another title would be learn to go broke from the comfort of your own home.

[Marshall · Rating 2 out of 5]

95% of this book is variants on the theme "don't be stupid." I was amazed at how many ways an author managed to say this. The rest is a mildly useful compendium of other books, websites, publications, and software packages for day traders. Almost never does it mention how to actually, you know, day trade.

[Peter Backx · Rating 4 out of 5]

As you would expect, Daytrading for Dummies is a short introduction into daytrading. What is it? Why should you do it? Why shouldn't you?

It is an enjoyable read that gives a good idea of what it is all about and is useful if you decide to not start daytrading (which is probably a good idea)

[Fancia Saydee · Rating 4 out of 5]

not what i expected

Not what i expected but good advice and knowledge to have. I guess i expected more info on how to day trade, or the act of actually day trading with technology analysis and the bells and whistles.but this did not do it for me.

[Evan · Rating 3 out of 5]

Good intro to day trading. It covers lots of useful resources and make sure to check them out. I like the part on tax.
Cons: writing is not concise; much info has been outdated; it would have been great if author could provide updates to this wonderful resource.

[Jay Raymond · Rating 4 out of 5]

good starting point into the world of trading.

[Praveen Rana · Rating 2 out of 5]

Not that of a good book. If you've read other books then you'll find it boring. I completed the book with just sub headings. Some pointers might work for newbs.

[Peter Lopez · Rating 5 out of 5]

I think the best thing that this book kept repeating is the statistic that most day traders fail.

[Stephen · Rating 4 out of 5]

Good intro to the topic.

[Abhi Yerra · Rating 4 out of 5]

Solid coverage of someone interested in day trading including basic strategies, taxes, and regulation. A good starting point for sure.

[Anthony Newell · Rating 4 out of 5]

What you would expect for a for dummies book. Provides lots of good information about trading.

[Andy Vila · Rating 3 out of 5]

This book made me realize how easy is to understand and plan strategies from the point zero.

[Maymoona · Rating 5 out of 5]

Good enough for someone new to understand the market and it's trade.

[Ian · Rating 4 out of 5]

While very basic and surface level info still does a good job at covering all the basics in one place and has a ton of helpful links to websites and other books and blogs to really dig into.

[Cassandra · Rating 4 out of 5]

It's decent. A lot of information in this including some information on taxes for traders.

[Parsnips23 · Rating 5 out of 5]

Great, no nonsense guide to day trading.

[Matthew · Rating 5 out of 5]

Everyone Needs to Read this book

[Donald · Rating 2 out of 5]

I suppose I might have found this one more informative if I wasn't already investing, swing trading, and trading options. Still, the over-arching theme seems to be that day trading isn't for everyone. Like anything having to do with the markets, one must dabble, stick a toe in, get past the goose bumps, leave emotions out of it, and be brutally honest with yourself.
Want to daytrade?
Learn to read charts; my favorite book is written by the guy who introduced Candlestick Charting to the western world, Steve Nison. Then, read a million charts and follow the action of a million more.

[Mike S · Rating 4 out of 5]

JP's review is good. I'd just like to add that this is a good read for any beginner, to familiarize yourself with investing in general, even if you're not interested in day trading. I'm reading about swing trading and this is one of the books I got to make sure I had the basics covered before reading books targeted to swing trading.

[Artem · Rating 1 out of 5]

It’s is a dictionary. It will not teach you day trading

You can easily avoid this book as it doesn’t have any serious day trading guides or strategy review. In a nutshell it is a huge dictionary of everything trading starting with where you can get more info and what kind of PC you need to day trade. I do not recommend the book

[Filippo Pivetta · Rating 3 out of 5]

An excellent book that introduces you to the world of trading in a simple and interesting way. It provides a perfect foundation for starting from scratch and several insights.
The book is written in simple, conversational language, suitable for beginners.
I recommend it to those who approach this world for the first time but it is not essential to those who already know the basics of trading.

[Matt · Rating 4 out of 5]

This book is challenging but I will finish it =).

[David Robins · Rating 4 out of 5]

Like most For Dummies books, it's an excellent survey with solid material, but didn't add anything deep.

[Prabu Manoharan · Rating 3 out of 5]

ok with intro & techniques but the book is not brief on any topics.

[Justin · Rating 1 out of 5]

Don't bother reading this.

No flow to this book, just information all over the place.

Much better alternatives out there for people looking to learn the basics of trading.

[Ben Kellermann · Rating 4 out of 5]

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 to the nitty-gritty of daily trading practices, it gives you the knowledge and confidence you'll need to keep a cool head, manage risk, and make decisions instantly as you buy and sell your positions. Learn how to: Set up your accounts and your office Connect with research and trading services Plan and research trades carefully and thoroughly Comply with regulations issues and tax requirements Leverage limited capital Cope with the stress quick-action trading Sell short to profit from price drops Evaluate your day-trading performance Use technical and fundamental analysis Find entry and exit points Use short-term trading to establish a long-term portfolio You'll also find Top-Ten Lists of good reasons to go into day trading, or run from it in terror, as well as lists of the most common (and expensive) mistakes day traders make. Read Day Trading For Dummies and get the tips, guidance, and solid foundation you need to succeed in this thrilling, lucrative and rewarding career.