The Guts & Glory of Day Trading: True Stories of Day Traders Who Made (or Lost) $1,000,000

by Mark Ingebretsen

Overview

A rediscovered trading classic Very few day traders make money - let alone $1 million or more - in the daily stock-trading battle. 'The Guts and Glory of Day Trading' tells the true stories of twelve otherwise ordinary people who have made or lost at least $1 million trading stocks. Their triumphant and tragic tales pull back the curtain from the gritty world of day trading to give a rare glimpse of the human emotion, the lives transformed, and the lessons learned, aside from the hype. Day traders aren't only market gurus and stock brokers, but regular people - classical pianists, burned-out photographers, moonlighting business consultants - who decided to pursue an exciting and treacherous phenomenon to achieve independent success and wealth beyond their wildest dreams. Their stories will inspire you, and - more importantly - show how you can improve your own trading strategies by learning from their successes and avoiding their mistakes. Every battle has its winners and losers. Every day, thousands of day traders take their battle positions in front of their computers to go head-to-head against the world's best, and most powerful, trading institutions. There are casualties, many casualties. But there are also victories - moments when an individual trader reaches the pinnacle of our capitalist system to take a profit. Making money isn't easy - with a 75 to 90% failure rate, only the strong survive, and only the most savvy live to trade another day. But despite the negative press, a wildly unpredictable market, and the possibility of losing their shirts on any given trading day, these market mercenaries continue to trade, and day trading continues to grow as a profession. What drives them? In 'The Guts and Glory of Day Trading', you'll read the astounding stories of those traders who have been skilled enough to make significant money, and the gut-wrenching dramas of those who were unfortunate to lose vast fortunes. Their stories and strategies will keep you on the edge of your seat. These valuable lessons from this trading dozen tell more than just the pits and peaks of stock trading. They teach the survival skills and tactics necessary to live to trade another day. You can learn how to improve your own trading techniques by learning what most of them did right - and what some of them did wrong.

Product Details

ISBN-13:	9781906659714
Publisher:	Harriman House Ltd
Publication date:	02/11/2013
Edition description:	Reprint
Pages:	220
Product dimensions:	6.00(w) x 9.10(h) x 0.70(d)

About the Author

Mark Ingebretsen, has been writing about finance and investing for over 20 years. He is a featured columnist at TheStreet.com and his articles have also appeared in Esquire, Sports Illustrated, Chicago and numerous other magazines. He and his family live in Iowa.

Table of Contents

Foreword vii

Preface xi

Acknowledgements xiii

Chapter 1 Introduction 1

Renegades in Cyberspace

Chapter 2 How to Grow $20,000 into $1,000,000 in One 'Horrible' Year 11

The Intelligent Speculator Teresa Lo

Chapter 3 Trading Microtrends 29

The Tactician Brendan DeLamielleure

Chapter 4 Those Who Forget the Past... 43

Gap Trader Terry Bruce

Chapter 5 Trading As a Quest for Knowledge 55

The Teacher Oliver Velez

Chapter 6 On-the-Edge Trading 69

Momentum Trader Barbara Hamilton

Chapter 7 Pennies from Heaven 79

The Scalper Chris Farrell

Chapter 8 Betting it All 93

The Quintissential Contrarian Mary Pugh

Chapter 9 Profiting from Good Markets and Bad 109

Rider of the Storm Scott Slutsky

Chapter 10 When the Market Turns Mean, Turn to Your Friends 121

The Trench Rat Dave Gordon

Chapter 11 Secrets of a Techno-Fundamentalist 131

The Earnings Player Barbara Simon

Chapter 12 Long-Term Holds and Covered Calls 143

The Gorilla Hunter Bob Martin

Chapter 13 If I Only Had a Brain... 155

The AI Guy Scott McCormick

Conclusion: A Master List of Trading Rules 167

Appendix: Money for Nothing and the Quotes are Free 181

Understanding the basics of day trading

Index 193