The Compleat Guide to Day Trading Stocks
Author: Jacob Bernstein, Jake Bernstein
List Price: $39.95
Our Price: Click to see the latest and low price
ISBN: 0071361251
Publisher: McGraw-Hill Trade (30 August, 2000)
Sales Rank: 86,692
Average Customer Rating: 4.3 out of 5
Customer Reviews
Rating: 5 out of 5
Compleat Guide to Day Trading Stocks
The Compleat Guide to Day Trading Stocks is just that: one of the most complete and very best books ever written on the subject of day trading. Its highly regarded author, Jake Bernstein takes the reader from the very basics such as realistic risk/reward considerations, the essential mechanics of trend-following systems, fundamental vs. technical analysis, timing indicators, stochastics and charts, all the way to clear and precise systems and methods as well as the Psychology of Day Trading. He goes out of his way to make sure that the reader is absolutely aware of all aspects of day trading before making a commitment - including the long and painful learning curve that is inevitable - and clearly states who should not undertake day trading. Having said that, if the reader understands this, and is still firmly committed to making day trading a success, Mr. Bernstein gives his utmost support by going deeply into the nuts and bolts of the art by providing a solid foundation with proven strategies that can be thoroughly back-tested. This is really the most beneficial part of the book for the experienced investor, and is that which sets it apart from the many more general works on the subject. The reader is encouraged to learn and test these methods and systems and to incorporate the ones that are best suited to his/her own investment style. Pitfalls are clearly stated and the writing is extremely fluid and easy to understand. Best of all, the reader subconsciously develops the proper attitude that is so essential to succeed - that day trading should be treated as a serious business which can and will only be successful if done with the proper frame of mind, diligence, hard work, and risk management as well as a dedication to discipline. I highly recommend it!
Rating: 5 out of 5
For those willing to work at day trading.
This is an excellent book. I would recommend this book to anyone who is willing to work at day trading. This isn't a book that promises riches in a few easy steps. At the start of the book, the author writes: "If you seek success as a day trader, you'll have to make your money the good old-fashioned way: you'll have to do some work." In addition to doing a good job of providing an overview of several technical indicators (including lists of the PROS and CONS of each one), the author devotes several chapters to detailed explanations of various approaches.
He also provides information on (the indispensable idea of) system development, practical considerations of day trading, and the psychology of day trading.
Again, to anyone who is serious about day trading, I would HIGHLY recommend this book.
Rating: 2 out of 5
Disappointed! Too simple, sometimes naive
This is the second Jake book I had read up till now. The first one is "Investment Quotient" which I gave my highest rating. That does not lead to my negative comment on this one because of over expectation. It's just that the content and quality of this so named guide just cannot be described as compleat.In one single book of only 200 pages, Jake tried to discuss many important elements of day trading, including history, mechanism, player characteristics, market structure and even sophisticated technical tools like Stochastics, MACD, Momentum, various forms of Moving Average and even AI. The problem is: he tried to cover so many things that the whole book becomes very shallow and far from what is needed for this highly risky game.
I dont understand why many reviewers gave this book such high ratings. I am afraid that many amateurs had already been lured to enter the game under the false illusion that they became better, if not well equipped, after reading this book, and had already fallen prey to the market crocs.
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