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Books For Day Trading

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chops_a_must

chops_a_must

Printing My Own Money
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I have a lady friend who is wanting to eventually become a full time day trader. I was wondering if there are any books you guys could recommend for such a person. Detail, technicalities and difficulty in concepts are not a problem here, she is a smart one (otherwise I wouldn't be messing with her), so any titles or authors you could recommend would be great.

Thanks in advance.
 
Chops, tell your lady friend to try Tony Oz-The stock trader.

Nizar, what part of that book deals with day trading? It's been a while since I've read it, but I don't recall anything in there about daytrading :confused:
 
chops_a_must said:
I have a lady friend who is wanting to eventually become a full time day trader. I was wondering if there are any books you guys could recommend for such a person. Detail, technicalities and difficulty in concepts are not a problem here, she is a smart one (otherwise I wouldn't be messing with her), so any titles or authors you could recommend would be great.

Thanks in advance.
Click to expand...

Adaptive Analysis by Nick Radge

Master the Markets by Tom Williams

Candlestick Charting by Louise Bedford (just as an intro to candles)

:2twocents
 
professor_frink said:
Nizar, what part of that book deals with day trading? It's been a while since I've read it, but I don't recall anything in there about daytrading :confused:
Click to expand...

Well it will help her develop a system for trading any sort of time frame.
 
CanOz said:
Adaptive Analysis by Nick Radge

Master the Markets by Tom Williams

Candlestick Charting by Louise Bedford (just as an intro to candles)

:2twocents
Click to expand...
Personally haven't found much benefit to using candles for daytrading, but it would depend on the timeframe- On a 2 minute chart, the difference between the various patterns can be 1 buy or sell order. They could be of slightly more use on a half hourly or hourly chart.
 
It's Snake Pliskin said:
Sure it's not for you chop?
Click to expand...
No, it's definitely not for me. I work for myself and that is stressful enough. I'm 22 and going grey, and have had several bouts of severe stress related illnesses so far. Although, I would like to get into a position where I can trade just for fun, without it really mattering. So I'm sure I'll end up reading these books anyway.

And thanks for all of the help in this thread guys. I would let you know what I decided on, but I think she is stalking me on here. She is one smart cookie, which is something I don't get to say about someone often, so nothing would surprise me.

Anyway, I'll let you know how it goes!
 
Chops I just had a look in my library, found a book on day trading I once read on a long flight some years back.
Its an easy read & entertaining.

A beginners guide to Day Trading Online.
By Toni Turner.
 
I'd recommend CFD to all day traders. Great tools for short term traders: Leverage, short selling, cheap commissions, and dividend payment on ex-div date etc. Personally, I prefer CFD to options & futures contracts.

For books about CFDs, Catherine Davey's 'Making Money from CFD trading' is easy to read.
 
Has any1 read:

Trading for a living: Psychology, Trading tactics, Money management
By Dr. Alexander Elder (1993).

Any thoughts on it?

Amazon gives it 4.5stars based on 165 customer reviews...
 
I have read Alexander Elder's book and found it excellent. It was recommended to me by a number of friends in the investment community and I found it very informative. It even come with a study guide to help you with examples.

Cheers.
 
nizar said:
Has any1 read:

Trading for a living: Psychology, Trading tactics, Money management
By Dr. Alexander Elder (1993).
Click to expand...
He has a newer book which supercedes this one - Come Into My Trading Room. This is an expensive and long book ($75) but it has many insights into trading as a business that I have not read anywhere else. It's worth every cent.
 
nizar said:
Has any1 read:

Trading for a living: Psychology, Trading tactics, Money management
By Dr. Alexander Elder (1993).

Any thoughts on it?

Amazon gives it 4.5stars based on 165 customer reviews...
Click to expand...

I have the abridged version on cds. It is good entertainment. Far cheaper than the book.
 
Thanks all for your thoughts.
Stevo/Tech id be keen to hear your opinions if you have read it.

As for you Snake:

It's Snake Pliskin said:
I have the abridged version on cds. It is good entertainment. Far cheaper than the book.
Click to expand...

Do you mean entertainment or education?
Or are you just so pro that trading is just fun for you now?
Haha, keep up the good work champ :D
 
nizar said:
As for you Snake:

Do you mean entertainment or education?
Or are you just so pro that trading is just fun for you now?
Haha, keep up the good work champ :D
Click to expand...

No it is good entertainment because some books can be a bore to read. I have read many, I mean many. Listening to the cd's allows you to listen and think while some guy with a convincing voice spells it all out. The only annoying thing is you have to rewind it to listen to some "important" parts, and there are some.
 
Come into my trading room is great but really is not focused on day trading infact discourages it completely for new traders.

Is anyone here actually trading with his triple screen system and doing ok from it?
 
While I can't sleep, I might as well tell you what I ended up deciding on.

Adaptive Analysis - Nick Radge
Mastering the Trade - John F. Carter
The New Market Wizards - Jack D. Schwager

Thumbing through them they looked great, and she seemed rather pleased with the choices. The only comment I have got so far (she is through the first part of Adaptive Analysis) is that it is rather egotistical. But I guess that is to be expected.

Anyway, when I get to it, I'll post my opinion in the Adaptive Analysis thread.

Many thanks for all of the ideas here!

Cheers,
Chops.
 

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