A Beginner's Guide To Day Trading Online 2nd Edition

by Toni Turner

Overview

The national bestseller—updated for the new stock market!

"Read the book if you want to know how the market works and how to make it work for you." —Greg Capra, president of Pristine.com, coauthor of Tools and Tactics for the Master Day Trader

"By using the tools, trading tactics and strategies revealed in...A Beginner's Guide to Day Trading Online, you will be armed with the skills needed to help you win your battle with the markets." —Steve Nison, CMT, president, www.candlecharts.com, author of Japenese Candlestick Charting Techniques

"Read this book, and, two, reread this book. It will help you achieve your trading goal, which is to make money in the markets. Every trader, from a beginner to the advanced professional, should have this book!" —John Person, CTA, president, Nationalfutures.com

"There are only a handful of trading educators that I would recommend listening to and...Toni Turner is one of them." —Hubert Senters, www.tradethemarkets.com

Day trading is highly profitable—and highly tumultuous. Moreover, the financial markets have changed considerably in recent years. Expert author Toni Turner gives you the latest information for mastering the markets, including:

• Decimalization of stock prices
• New trading products such as E-minis and Exchange Traded Funds (ETFs)
• Precision entries and exits
• The new breed of trader

Written in an accessible, step-by-step manner, A Beginner's Guide to Day Trading Online, 2nd Edition shows how to day-trade stocks in today's market.

Product Details

ISBN-13:	9781593376864
Publisher:	Adams Media
Publication date:	01/19/2007
Edition description:	2ND
Pages:	288
Sales rank:	98,108
Product dimensions:	6.04(w) x 8.94(h) x 0.77(d)

About the Author

An Adams Media author.

Table of Contents

Foreword     xi
Acknowledgments     xiii
Introduction     xv
This Ain't No Dress Rehearsal!     1
Benefits of Day Trading: The Good News
The Flip Side: Wall Street Takes No Prisoners
What Does a Day Trader Look Like?
To Trade or Not to Trade?
Author's Note
Center Point: The Power of Commitment
Wall Street: A View from the Top of the Skyscraper     7
The First Traders
The Birth of Wall Street
Who Are Wall Street's Biggest Party Animals? The Bulls and the Bears
The Land of Greed and Fear
Supply and Demand or How Much Will You Pay for That Cookie?
Price: The Bottom Line
The New York Stock Exchange
The NASDAQ Stock Market
The American Stock Exchange, or Amex
Where You Come In
The Bid and Ask, or Offer: What They Mean
NASDAQ Level II System
The Ringmaster, CNBC
Center Point: Empower Your Personal Beliefs
Day Trading Is Your Business: Let's Set It Up That Way     23
Your Day Trading Stash: A Reality Check
Choose Your Weapon
What Type of Trader Are You: Part-time or Full-time?
Trading with an Online Broker: Which One Is Right for You?
Advantages of Using a Direct-access Trading Platform
Should You Open Two Trading Accounts?
Slippage and Commissions: How They Affect Your Wallet
Trading On Margin: How to Do It and Still Sleep at Night
Develop a Simple Business Plan
Create a Success-oriented Environment
Paper Trading: Should You Do It?
Center Point: Your Vision: Life's Invitation to Greatness
The Winning Market Mentality That Leads toProfits     41
Protect Your Principal
Trade to Trade Well, Not to Make Money
Why the Stock Market Is Always Right
The Trader's Most Formidable Foe
Why Faith and Hope Should Be Left in a Basket by the Door
Why "The Devil" Made You Lose All That Money
Celebrate Your Positive Trading Characteristics
Reality Check: What Color Is the Stock Market?
Don't Push the River: Swim with It and the Money Will Flow to You
Responsibility and Respect: How They Play Leading Roles in Your Success
Center Point: Extend Your Reach
Trading Fundamentals You'll Build On     59
The Market Has No Price or Time Limits
Fundamental Versus Technical Analysis
Different Trading Time Frames: What They Mean to You
Trading with the Clock for Profits
Introduction to Charting Techniques
Center Point: The Miracle of Giving
Technical Analysis 101: The Trend Is Your Friend     83
Stock Cycles: How They Help You Plan Your Trades
Support and Resistance: What They Are, How to Recognize Them
Money-making Breakouts and Breakdowns: How to Identify Them
How to Draw Trendlines or Where to Connect the Dots
Center Point: Coincidence or Synchronicity?
Choose a Stock to Trade     121
Volume: A Simple Indicator That Says a Lot
Moving Averages: What They Are, How to Use Them
The Final Touch: Momentum Indicators
Center Point: Detachment-Pathway to Freedom
When the Tough Get Going: Beginning Trader's Boot Camp     155
Beginner's Boot Camp: Week 1
Beginner's Boot Camp: Week 2
Order Types and Definitions
Center Point: The Power of Intuition
Plan Your Trade and Trade Your Plan     177
How to Design Your Trading Log
Viewpoint: Top Down Versus Bottom Up Approach
Plan Your Trade with Risk-reward Analysis
Money-making Chart Patterns for Position Trades
The Basics: Continuation and Reversal Patterns
Double-bottom Pattern
Cup-with-handle Pattern
Reverse Head-and-shoulders
Plain Vanilla Breakout
Know Your Stop Before You Shop
Center Point: Practice Healthy Selfishness
The Swinging Day Trader     203
Fibonacci Numbers
Money-making Setups for Swing Trades and Day Trades
Gap Openings: How to Manage Them
To Hold Overnight, or Not to Hold Overnight
Nitty-gritty Stuff about Day Trading
Does Your Stock Waltz or Jitterbug?
Where to Place Your Stop-loss Orders
Day Trading Setups: What You're Looking For
Quick Level II Review and Intraday Trading Tactics
Pre-market and After-hours Trading Scene
The Ultimate Day Trading Scene
Center Point: Release the Past
Scalps and Shorts, or the Quick and the Dead     231
What Is Scalping?
Basic Scalping Tactics
Price Behavior at Whole and Half Numbers
Scalping Technique: Early Entries
Level II Review and Scalping Strategies
Additions to Your Intraday Toolbox
Tick Charts
Scalping Setups
Boost Your Scalping Profit Potential
Scalping Checklist
Selling Short: Don't Sell It Short!
The Shorting Process: How It Works
Chart Patterns for Selling Short: What to Look For
Bottom Line Shorting Strategies
Center Point: Create a Prosperity Mindset
Love Your Losses: They're a Trader's Best Friend!      269
Seven "Suicide Scenes": How to Avoid Them, Protect Your Principal, and Live to Trade Another Day
Stuff Happens
The Good News, Bad News Roller-coaster Ride
Drop the Stop Game
How Not To Catch a Falling Knife
Hey, Wait for Me!
The Whipsaw Club
Going Ballistic
Center Point: The Truth about Fear
Trading Survival Techniques     281
The "if, Then" Mentality: How It Boosts You to the Ranks of Professionals
Stay Aware of Big Picture Dynamics
The Advance-decline Line as a Superb Storyteller
Meet Another Storyteller: U.S. Thirty-year Treasury Bonds
Other "If, Then" Settings
Too Much Chocolate?
Watch Out! It's Options Expiration Week
Program Trading: A Jolt Out of the Blue
Learn How to Change Gears
Trading Day In a Capsule
Where to Find Stocks to Trade
Trading Fitness: Your Body. Your Mind
Trading Rules to Prosper By
Center Point: Live Consciously and Succeed!
The Future Is Now!     299
Trading From the State of Overwhelm
Microlist of High-caliber Financial Web Sites
Pump and Dump
Should You Take a Trading Course?
In Conclusion
Center Point: We Are All Connected
Recommended Reading List     307
Index     309

What People are Saying About This

Greg Capra

Toni Turner's information-packed guide leads you through techniques and tactics you'll need to become a winning trader, and does it in an upbeat, easy-to-understand format. Read this book if you want to know how the market works and how to make it work for you.—Co-author of Tools and Tactics for the Master Day Trader

Fernando Gonzales

Every new trader should buy A Beginner's Guide to Day Trading Online. Toni Turner takes a difficult subject--trading in the stock market--and makes it enjoyable and exciting to learn. I found the book to be highly compelling and a real page-turner. Don't start trading without it!
—Co-author of Strategies for the Online Day Trader