Day Trading 101: From Understanding Risk Management and Creating Trade Plans to Recognizing Market Patterns and Using Automated Software, an Essential Primer in Modern Day Trading

by David Borman

Overview

A comprehensive guide to day trading, with prescriptive information and actionable advice to help you achieve financial success.

It may seem that day trading is only for savvy investors who know the ins and outs of the marketplace—but it doesn’t have to be. All it takes is the right information and staying on top of the market.

Day Trading 101 simplifies all the terms, strategies, and processes involved in day trading, helping even the most novice investor find financial success. With information on recognizing trading patters, mastering trading options, keeping tabs on the market, establishing strategies to make the most profit, and understanding trading lingo, this guide can get you on track to becoming a smart investor. Full of expert advice on the best paths to trading success, Day Trading 101 leaves no stone unturned, and no trading option undiscovered.

Product Details

ISBN-13:	9781507205815
Publisher:	Adams Media
Publication date:	01/09/2018
Series:	Adams 101 Series
Pages:	256
Sales rank:	95,578
Product dimensions:	5.30(w) x 7.20(h) x 0.60(d)

About the Author

David Borman has been involved in the financial markets and trading since 1999. He has professionally worked at Deutsche Bank, Merrill Lynch, TCM Custom House, Morgan Stanley, and Phillip Capital. He has been exposed to the trading and day trading of mutual funds, stocks, ETFs, Leveraged ETFs, Commodities, and Derivatives. He has worked right alongside the Risk Management Desk of a Singapore Based Futures Commission Merchant, where fifty million dollar margin calls were a daily occurrence. Within his own account, he has traded extensively using ETFs, precious metals, and currencies. He holds a BS in finance from Southern Illinois University, and a masters in accounting from DePaul University, and is working on his PhD in financial management from Northcentral University. When not trading, David finds the time shop for treasures at local antique shops. He is the author of Day Trading 101.

Table of Contents

Introduction 9

Chapter 1 Introduction to Markets and Trading 13

Functions of the Markets 14

Who's Who in the Marketplace 19

Commonly Traded Products 24

More Commonly Traded Products 29

Trading Basics 35

Chapter 2 Creating a Trading Plan 39

A Good Day in the Markets 40

A Bad Day in the Markets 45

Writing a Business Plan 50

Making the Best Use of Your Time 54

Chapter 3 The Cost of Trading 57

Working Alone 58

The Day Trader's Tools: Trade like a Pro 60

Brokerage Basics 64

Chapter 4 Getting Started in the Marketplace 71

Trading Stocks 72

Day Trading Foreign Exchange 76

Commodities 81

Futures 85

Starting to Trade 89

Advice on Trading Ideas 94

What to Trade Seasonally 98

Keeping Things in Perspective 103

The Benefits of Practice Accounts 107

Chapter 5 Handling Risk 115

Risk and Cash Accounts 116

Offensive and Defensive Risk 119

Controlling the Risk of Each Trade 124

Chapter 6 Trade Setups and Information 129

How Does Margin Work? 130

Learn to Trade Opportunistically 135

Trading in an Overheated Market 139

Trading in the World Markets 143

Chapter 7 Analyzing the Market 145

Fundamental Analysis 146

Fundamentals of Commodities and Currencies 153

Technical Analysis 161

More Indicators 167

Chapter 8 Advanced Day Trading 173

Looking for Trades 174

Trading Entry Points 178

More Risk Management Techniques 182

Programming Your Trades for Entry Points 186

Preset Profit Points 189

Emotions and Trading 192

Trade What's Hot 196

Advanced Risk 199

Quick Trading 203

Trading Overnight or Longer 207

Diversification, Leverage, and Trading Risk 210

Leverage and Trading Risk 214

Chapter 9 Managing Your Accounts and Profits 219

Full Time or Part Time? 220

Realistically Looking at Profits 224

Building Your Account Slowly 227

Recording Gains and Losses 231

Trading Profits, Expenses, and Taxes 235

Extend Your Knowledge 240

Index 244