Financial Freedom Through Electronic Day Trading / Edition 1

Financial Freedom Through Electronic Day Trading / Edition 1

by Van K. Tharp, Brian June
5.0 5
ISBN-10:
0071362959
ISBN-13:
9780071362955
Pub. Date:
12/18/2000
Publisher:
McGraw-Hill Professional Publishing
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Financial Freedom Through Electronic Day Trading 5 out of 5 based on 0 ratings. 5 reviews.
Guest More than 1 year ago
This book contains a wealth of information - I strongly recommend it! The content is excellent, and the writing style is understandable and candid. Brian June not only discusses the nuts-and-bolts of day-trading (Level II screens, time-and-sales data, 'ax' market makers, direct-access systems, trading strategies) but covers in detail how one should prepare prior to the market opening and how one needs to debrief trading after the close. Dr. Van Tharp covers two of the most important concepts of trading: risk management (i.e., capital preservation) and money management (i.e., position sizing). If you have not internalized these concepts into your belief system already read these chapters, memorize them. They are key disciplines as they will keep you in the game. Four days ago I recommended the book to another full-time trader, and he just wrote back saying, 'I wanted to thank you for recommending the Tharp/June book. It is full of mandatory knowledge one needs, but also they make it clear what the requirements are to be successful. I am finding the book extremely enlightening - thanks again.' I have been a student of the markets for over ten years having proceeded through the study of fundamental analysis, technical analysis, and trading psychology (in that order). I wish I had this information at the start of my journey.
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Guest More than 1 year ago
This is a good book but I think a day trader needs to focus on more especific trading tactics. The most succesful day traders will focus most of the time on a limited number of stocks and on a limited number of factors. To reduce those numbers even more, many top traders will concentrate only on stocks with momentum. One of the most important aspects one must grasp when trading a stock with momentum is how to approach the rally. Knowing how to trade the rally makes all the difference in the world. Not many books cover this aspect in a simple yet detailed manner. The other day I visited a place on the web called ChatHotStocks dotcom. They provide a practical approach for searching and trading stocks poised for a rally in a very simple way. I suggest you visit them, because in the end it's all about the rally. Anyways, a trader must always read and consider as many trading strategies as he can. There are a lot of good trading strategies outhere. The trick is to test them as much as you can -at least on paper- and stick to the one that fits you best and brings you profits consistently.