Book Description
Over 30,000 online investors daily flock to pristine.com, the top-rated Website run by day trading legends Oliver Velez and Greg Capra, for up-to-the-minute strategies and market commentaries. In Tools and Tactics for the Master Day Trader, Velez and Capra revisit and completely update over 100 of their daily commentaries from the past four years, with new material explaining what worked, what didn't, and why.
This no-nonsense, easy read, meant to be referenced by traders every trading day, covers everything from potent trading strategies to intuitive insights on psychology and discipline. Proving once again that the best teacher is experience, Tools and Tactics for the Master Day Trader will help any trader log on with the technical skills, market knowledge, and confidence they need to capture more winning trades, and reap new profits.
Customer Reviews:
THE best book on trading I have ever read........2007-09-09
I had to get this book after reading such a mix of reviews. I was really curious how it would turn out since reviewers were either raving about it or trashing it.
After reading the 1st half of this book I was shocked to say the least. The first half of this book is worth more than all of the books I have read on trading combined. If someone trashes this book then they are either very new to trading and don't understand the points being made in this book(which I can understand because you have to get some experience under your belt to really appreciate what is being said in this book) or they are looking for a quick strategy they can read in 5 minutes and start making money. For one thing, that's never going to happen anyway.
The trading strategies in this book are very basic, so for newbies that part of the book has some good info. I was hoping for a little more advanced analysis of trading techniques, but I really didn't need that anyway. The knowledge and wisdom in the first half of this book is going to take my trading to moon.
For the newbies who didn't like this book, get a couple years experience under your belts then go back to this book and re-read the 1st half. I guarantee you, you will want to come back here and write a positive review.
Interesting book with lack in details by very self-confident authors.......2007-06-09
When I started reading the book by Oliver Velez and Greg Capra: "Tools and Tactics for the Master Day Trader", I thought it was one of the better books on day trading. It starts out with the importance of discipline, and the lessons to be learnt from losses. It also outlines the concept that you don't buy from the market, but there is always another person on the other side of the trade that has exactly the opposite market expectation as you.
Then come four chapters with lists of rules: 7 deadly sins, 12 trading laws of success, 15 things every trader should know, and 10 lessons for the master trader. Altogether 44 rules, which don't seem to be in any systematic order. It looks like the authors were brainstorming to come up with as many rules as they could think of, and then divided them up among the four chapters. Some rules contradict one another, some important rules are next to irrelevant ones etc. Also the "Seed of Wisdom" does not help to sum up the rules because it often is not related to the part that it is supposed to summarize.
In Chapter 10 and 11 the authors talk about tools and start out by explaining things as basic as a candle stick or support and resistance. Then they dedicate two chapters to Order Systems and Level II data, and it takes until page 293 when they finally talk about trading techniques.
After having talked redundantly about general things for three quarters of the book, the authors give their ideas of entry, stop and exit techniques. What I missed most in this part is the lack of exact trading rules. Everything is expressed vaguely (e.g. p.219 "you can also opt to keep the break-even stop. This is a matter of choice." or p.322 "Sell at least half your stock if and when the stock breaks below the 5-minute low. ... These are just guidelines. We don't want to be stupid. ... Many traders will be best served selling the whole lot at this point."). This is exactly the vagueness you can't afford as a day trader. I was also disappointed that there was so little variety in the trade setups (just three entry techniques).
So my hope was high that in chapter 17 "How to put it all together" there would finally be concrete entry and exit descriptions. Instead, the authors just describe common chart formations like any other book on technical analysis (and do a worse job, too).
Throughout the book I noted an arrogant tone (p. 317: "Let's assume a master trader, let's call him Mr. Velez."). The authors speak about master traders, as if they were some kind of rock stars. No matter, how successful you are, if you quit being humble, the market can easily take everything away from you.
I am giving the book three stars because it does cover important topics for day traders like discipline, and learning from your mistakes. If you want to read a more effective book, however, I recommend the one by John F. Carter "Mastering the Trade".
Seeds of Wisdom!.......2007-05-18
Tools and Tactics for the Master DayTrader: Battle-Tested Techniques for Day, Swing, and Position Traders.
Velez and Capra give me the impression they have traded before and are not just book writer's. You can learn a few pointer's from this book whether you are a rookie or have been trading a while. It covers Candlesticks,Moving Averages, Fibs, Volume and drawing a few trendlines on the charts intraday and daily charts.
It does not go into some of the mathematical stock indicators that some trader's think it might be the "Holy Grail". Sorry, there is no Holy Grail in the stock market you better look elsewhere like yourself. The only "Holy Grail" you will ever find trading stocks is yourself there is no quick fixes to learn to trade stocks it all takes lots of time and practice.
Its to look and observe what a chart's footprints tell you with some seeds of wisdom.
I see so many negative reviews here about this books. I am starting to wonder whether those reader's have ever traded stocks.
I have traded full-time for years and I can tell you they must be all novice trader's hoping that a book might have all the answer's for them and their future. It would help them if they read this book a few times until it sinks in their minds.
Nothing new.......2007-04-18
nothing new, nothing exciting. Everything can be found in books that are half the price. Save your money.
FIVE STARS!!!.......2007-02-27
I would definitely give this book five stars. I really learned alot from it. If you gave it a bad review you either need to go back and read the book again or just skimmed through the book.
and to the person who sid that he "Heard" that they don't actually trade they are wrong and I thought everyone knew not always to believe what they hear. But hey, some people just believe things more easily than others.
and you can't even RATE this book one star because YOU HAVEN'T ACTUALLY READ IT!!!
You skimmed through the book and rate it one star??? WOW. that's all I have to say: wow. I'm not even going to say anything else. and people don't listen to all of those bad revievs out there. It really was a great book and is worth the money. (and so is his newer book)
and to the person who said: "This book TOTALLY rocked. I read it alot because it was so awesome"
YOU TOTTALY ROCK TOO! LOL!
Book Description
Ricardo Semler thinks that companies ought to put employee freedom and satisfaction ahead of corporate goals.
Imagine a company where employees set their own hours; where there are no offices, no job titles, no business plans; where employees get to endorse or veto any new venture; where kids are encouraged to run the halls; and where the CEO lets other people make nearly all the decisions. This company—Semco—actually exists, and despite a seeming recipe for chaos, its revenues have grown from $35 million to $160 million in the last six years. It has virtually no staff turnover, and there are no signs that its growth will stop any time soon.
How did Semco become wildly successful despite breaking many of the commonly accepted laws of business? In The Seven-Day Weekend, Ricardo Semler shows that for those willing to take a chance, there is a better way to run a workplace. He explains how the technology that was supposed to make life easier—laptops, cell phones, e-mail, pagers—has in fact stolen free time and destroyed the traditional nine-to-five workday. But this can be a good thing—if you have the freedom to get your job done on your own terms and to blend your work life and personal life with enthusiasm and creative energy. Smart bosses will eventually realize that you might be most productive if you work on Sunday afternoon, play golf on Monday morning, go to a movie on Tuesday afternoon, and watch your child play soccer on Thursday.
This is a radical book that will challenge the business world to make the seven-day weekend a reality.
Customer Reviews:
A workplace for the 21st century... for real!.......2007-08-31
Ricardo Semler became quite popular more then twenty years ago when he tragically and unexpectedly inherited Semco, the family company located in Brazil (originally operating in the naval technology field) from his father. Young and inexperienced he ended up making many mistakes until he realized that the entire traditional `military, command and control' way to manage a company had to be totally and radically changed. He implemented the changes swiftly and Semco has been a successful, unusual, `radical' company since then.
This is Semler's second book, filled with ideas, practices and tools to implement meaningful changes within organizations; changes aiming to reorganize companies both physically and culturally "by constantly questioning the way that we do things". What are these changes all about? Here is a quote that sets to tone of Semler's ideas that have become common practice at Semco (a company with over 200 million dollars in revenues and with a double digit growth during the last 10 years): "Semco has no official structure. It has no organizational chart. There is no business plan or company strategy, no two-year of five-year plan, no goal or mission statement, no long term budget. The company often does not have a fixed CEO. There are no vice presidents or chief officers for information technology or operations. There are no standards nor practices. There's no human resources department. There are no career plans, no job descriptions or employee contracts. No one approves reports or expense accounts. Supervision or monitoring of workers is rare indeed. Most important, success is not measured only in profit and growth."
How can a company be run this way and endure, actually achieving growth and profits within today's extremely competitive market's dynamics? The book articulates ideas and practices that make all of this possible; ideas and practices that spring, according to me, from two pivotal concepts: Driven by Discovery vs Driven by Control; "Nothing but Intuitive Values in Place!". Let's explore them briefly.
Driven by Discovery vs Driven by Control
The key concept is to create a productive environment in which the people clearly perceive that are treated and brought to act as responsible and well informed adults. People should be brought to act driven by a sense of discovery tied to the self-interest (pay attention, Semler points out that the key is the self-interest, not the organizational one) to discover and express their talents (mostly the hidden ones!). Semler points out the concept: "We can't train people to turn them into what we want. Mostly, we want nothing. We don't like training manuals, nor do we ask people where they want to be in five years. We want them to amble and ramble. If they happen to be on a fixed path, we'll gladly help them train for that, but instead of formal training, we encourage people to ask a colleague for explanations, demonstrations, and guidance. Information in any organization should be information on demand". There are no big plans `from the top' that manage strategically and operationally the organization, for this there is no need of control but simply the need of willingness and determination in making sure that a spirit of discovery spreads itself and it is constantly fueled within the company. "Treat them as responsible and well informed adults" is the powerful and controversial principle at the basis of Semco unique reality. A principle that is controversial because goes against many of the practices in place in most organizations. Semler is quite aware of this and traces back the problem to what he considers its root: the need to `de-program' people from the habits created by society and culture, habits that often make of any job a meaningless chore, "Avoid routine and steer clear of habit". At Semco self discovery and expression of the own talents at work is an essential part of working. Semler observes that many people know how to manage well their time and work on many task during their off time during the weekend, then when on Monday show up at work somehow they lose this sense of vitality. The title of the book `The seven-day weekend' becomes the goal: make of the workplace an environment in which people are brought to express their passions, talents and skills just as they do during their weekends! Here are simple roots of discovery vs control!
"Nothing but Intuitive Values in Place!"
Semler defines intuition as "the fuel of choice for rambling through the seven-day weekend" adding "people have to be encouraged to act on instinct , because by-the-book management leaves companies vulnerable, or otherwise its potency as a tool will be lost". Here it is the strong connection between today's challenging market, societal and economic dynamics and the `discovery vs control' mindset. This is why Semler asserts openly that "Semco's most precious asset is the wisdom of its workforce, and our success grows out of our employees' success". It is important to point out that this not a rhetorical statement empty of its meaning in the day to day work within the company. The ideas and practices of the book are bound to shock many of us and fully demonstrate what it means to truly believe in empowering people and having owners and top managers give up control. Many managers and entrepreneurs from all over the world go to visit Semco trying to understand what the company is all about. They understand the concepts and practices quite well, yet few of them have the courage and the vision to actually implement them! When you make of intuition a key driving force at any level or your organization you truly make every single person to lever its decision making and work upon experience and knowledge. This process truly depends upon the development and utilization of people's passions and talents driven by their own interest, the interest of the company comes second and it is a by product of the first. As Semler says this practice "is messy, inefficient, and hugely rewarding". The `Semco approach' cannot be implemented to bits and pieces, it is fully integrated with several key aspects, for example: the way that retributions are set (by the people!); time is managed (at Semco it is possible to `retire' at 40 and go back to work at 60!); trust is nurtured on a daily basis in so many ways that are a joy to read about! All of this based upon the "treat them as responsible and well informed" adults concept.
When I learned about Semler (about 10 years ago) I was really intrigued by what they were able to do at Semco. I admired those practices and ideas and I enjoyed the spontaneous, open, straightforward, trial-and-error way they came about. I also though that Semco was some sort of `world apart' and I felt that their practices were way too radical to become some sort of `model' for other companies. Nowadays I believe that market, economic and societal trends are leading all of us to pay closer attention to the `quirky ways' of that Brazilian company. May be this is why Ricardo Semler himself is at present a visiting scholar at Harvard... The key starting challenge (and too often the `show stopper') is to have business owners and top managers understand and apply on a daily basis the `discovery vs control' principle. Who is willing to take on the challenge? We are ready to help! Focusing on the relevance of INTUITION in today's organizations would be already a good start...
The Seven-day Weekend.......2007-08-07
This book may be an eye-opener for someone who has been living under a rock, but my guess is that for most people who actually read this book all the talk about loosening control and trusting people will be preaching to the converted. My main interest was to learn about how to make such a setup work. But following the tradition of management literature, the advice is offered through stories and anecdotes. While this makes the book very readable, it does leave some gaps... So until an anthropologist manages to infiltrate the company and produce something more systematic and objective, I guess we'll either have to make do with this book -- or apply for a job at Semco to see for ourselves :-)
A New Way to Work that Works.......2007-03-16
Semco, Ricardo Semler's privately held Brazilian company is hard to describe, mostly because it looks and acts so different from what we expect a company to be. That's why Semler devotes the first chapter of Seven Day Weekend to telling us what Semco is and does and what makes it a different place to work. At the end of the chapter, he says this:
"Although I still can't definitely answer the question about what Semco does do, I can say we've changed the way work works and improved the quality of our lives - and so can you."
After reading Seven Day Weekend, I still can't tell you exactly what it's about. But I can say that it will change the way you think about work and open up new possibilities for you.
There's a lot of talk these days about changing the workplace and making it more democratic and self-organizing and participative. We've seen pieces of this at places like WL Gore and, more recently at Best Buy. We've read the business press articles and pundit opinions.
But the fact is that if we are going to see significant workplace change on a large scale, there will need to be more companies that act like Semco. The owners of those companies will have to try things out and show us. That's what Ricardo Semler has done.
If you want to see how the wisdom of crowds works out in a company, it's in here. If you want to see how democratic principles work out in management, that's here, too. And if you want to see things about self-organizing and self-managing work groups and chaos theory, that's here too.
But Seven Day Weekend is not a how-to manual. You won't come out of it with a bunch of checklists or bulleted lists of sure-fire techniques. You will improve your understanding of a few key points
* People can be trusted to make decisions that are not only in their best interests, but in the company's best interest.
* In most cases, following the natural law of things works at least as well and often better than trying to control and direct.
* Strategy Semco-style is about building on talents and following ideas and not about master plans.
You will want to know if Semco has been successful in a traditional business way. It has been extravagantly successful, growing revenue and profits at 40 percent per year for two decades. Not only that, the company survived the convulsions in the Brazilian economy in the 1980s and 1990s.
And you'll want to ask Ricardo Semler about how he works as CEO and how he controls things. Here's his answer.
"I don't. I let the system work for itself."
The bottom line is that you should read this book because it will give you a window into a very different way of working and organizing a business. It's a system that's uncommon as well as uncommonly successful. And it's a system we can learn from.
Good ideas, not applicable to everyone.......2007-02-18
This book has some revolutionary and great ideas. It is inspiring, but not necessarily applicable to everyone. I recommend the book for someone who is looking for fresh and new approaches to management. However, if you are looking for immediate solutions, this may not be what you are looking for. I will re-read this book for sure though.
The Pursuit of Happiness .......2006-12-25
I read both of Ricardo Semler's books, Maverick! and Seven Day Weekend prior to watching the film about Enron. As a 22 year old dreamer, idealist, pragmatist, and economics student, I feel blessed to have been given the opportunity to see the opposite ends of the capitalist spectrum. There's so much knowledge to be learned from the two companies, Enron and Semco. Semco is everything Enron wasn't and is making profit while empowering its employees like no other company on the planet. Business does not have to be analogous to war. Enron's motto was `ask why' and nobody ever did, Ricardo Semler's motto is `ask why' and he hasn't stopped asking. Ricardo Semler will be regarded as the most influential CEO of the 21st century, mark my words.
Average customer rating:
- totally worthless
- Pragmatic advise to those who can listen.
- Outstanding. Read it again and again.
- Add this to your arsenal
- One of the best books on day trading...
|
The Undergroundtrader.com Guide to Electronic Trading: Day Trading Techniques of a Master Guerrilla Trader
Jea Yu
Manufacturer: McGraw-Hill Trade
ProductGroup: Book
Binding: Hardcover
 General
| Popular Economics
| Business & Investing
| Subjects
| Books
General
| Business & Investing
| Subjects
| Books
General
| Accounting
| Industries & Professions
| Business & Investing
| Subjects
| Books
General
| E-commerce
| Industries & Professions
| Business & Investing
| Subjects
| Books
Futures
| Investing
| Business & Investing
| Subjects
| Books
General
| Investing
| Business & Investing
| Subjects
| Books
Shopping & Commerce
| Reference
| Business & Investing
| Subjects
| Books
Network Security
| Networking
| Computers & Internet
| Subjects
| Books
Investing
| Personal Finance
| Software
| Computers & Internet
| Subjects
| Books
General
| Accounting
| Business
| Software
| Computers & Internet
| Subjects
| Books
Internet
| Home Computing
| Computers & Internet
| Subjects
| Books
| Internet & Education
| Online Searching
| Web Browsers
| Web for Kids
General
| Computers & Internet
| Subjects
| Books
General
| Accounting
| Accounting & Finance
| Professional & Technical
| Subjects
| Books
Look Inside Business Books
| Trip
| Specialty Stores
| Books
Look Inside Computer Books
| Trip
| Specialty Stores
| Books
Similar Items:
-
Secrets of the Undergroundtrader
-
Mastering the Trade (McGraw-Hill Trader's Edge)
-
A Beginner's Guide to Day Trading Online
-
The Market Maker's Edge
-
The Compleat Day Trader II (Compleat Day Trader)
ASIN: 0071360166 |
Book Description
On his hugely popular Web site Undergroundtrader.com, Jea Yu tells traders how to stand firm, trust their instincts and knowledge, and grab the day trading profits they deserve. Traders trust Yu's hard core, just-the-facts perspective to cut through the fluff, hype, and misinformation, and deliver effective trading tips and strategies on techniques, order routing, technical analysis, market maker activity, and more.
Here, Yu dynamically transfers his methods for making daily, real-time recommendations to the printed page. Traders will derive instant benefit from Yu's straightforward, Web site-driven analyses including: *
Vital and detailed information on the different stock markets *
Techniques to profit from IPOs and Internet stocks *
A day in the life of a successful electronic trader
Download Description
Are you ready to learn the down-and-dirty rules for making an excellent living as an electronic day trader? Then let Jea Yu's The Undergroundtrader.com Guide to Electronic Trading teach you the advanced tools and techniques of today's most successful traders.
Customer Reviews:
totally worthless.......2004-07-02
It always amazes me how some people have the ability to write a whole book with nothing to say. If you can make money using the techniques in this book please email me, as far as I'm concerned this book is only meant to promote their services. The second half of the book is surely meant to impress, not to teach. I hate these selling techniques: they even make us pay for their promotional material.
Pragmatic advise to those who can listen........2002-08-20
If one were to follow the advise in this book, they would be successful. The author leaves nothing to chance and is trying to teach the reader that he too must leave nothing to the whim of the market. The premise on which this excellent book is founded is to react to the market and not forecast it. As Jea Yu points out, it is harder to do than you might expect. The battleground is really the "baggage" that we all bring to the table - our ego's, our budget and most of all our bad judgment. This is a great book and teaches a winning style, if the trader has the discipline to follow it.
Outstanding. Read it again and again........2002-07-20
A novice should probably read that fluffy Toni Turner book to get an idea of the lingo, but no one should contemplate day trading without reading Lu. This book is a detailed description of the intricacies of no-nonsense, hardcore daytrading, written by a consistently successful practitioner.
I have read dozens of books on trading and this is the only one that I read again within one week of finishing it for the first time. It's simply too good to store on a shelf. Read it, learn from it, read it again, profit from it.
To use an old cliche, the small amount of money spent on this book will be the best investment you'll ever make. I'm not kidding. Read Toni Turner's sappy book if you must, if you're new to the game, but don't open an account until you read Jea Lu. His explanation of Level II screens, the use of stochastics and moving averages, and his advocacy of zero-emotion trading are all gems, which alone would be worth the price of the book.
I'm currently re-reading it, cover to cover, for the third time.
Add this to your arsenal.......2001-12-22
Books on day trading are everywhere! Hmm...is this book for you you ask? This book should be read by all beginner to intermediate traders. Many people think that they can find ONE book out there and read it and make $$$. It's not like that in this profession. Would you be a lawyer after reading one book, much less without a degree? So this book is a tool, and a good one at that. No fluff here, just the experiences of someone who trades. If you wake up and sit in front of your monitor from 7:30am to 4pm watching Nasdaq Level II screens and daily/intraday charts...they this book will help you. He shows you HIS experiences in the market. Like I said in my headline....add this to your arsenal of solid daytrading books.
One of the best books on day trading..........2001-12-04
Most who attempt day trading fail because they underestimate the learning curve, both in terms of the knowledge and capital it takes to succeed. The UndergroundTrader.com Guide to Electronic Trading, is recommended to those with at least some day trading experience, who are determined to survive the learning curve. Author Jea Yu is co-founder of UndergroundTrader.com, a popular Web site for day traders. "The secret to successful trading" he says, "is to know what to do when certain prices occur, and to let go of belief and prediction in order to focus more clearly on what is actually happening in the market."
The book's themes are the necessity for precise, objective methods of identifying and managing trades, the requirement for discipline, the importance of money management, and the powerful psychological factors that lead traders into self-defeating behavior. Charting indicators and studies such as moving averages, stochastics, and Fibonacci pivot points are detailed and illustrated, and the author does a superlative job of explaining the nuances of reading the Nasdaq Level 2 screen and how to track the ax and significant market makers. Execution methods and order routing are covered, as are as ways to exit trades in fast markets. Two days in the life of author-trader Yu are detailed minute-by-minute, trade-by-trade - and this section demonstrates and ties together the principles and techniques presented throughout the book.
Roll up your sleeves, for you will likely find this one of the best books on how to day trade with success.
Average customer rating:
- Fuzzy Math
- Disappointed! Too simple, sometimes naive
- So simple, so good...
- Compleat Guide to Day Trading Stocks
- ANSWERS, ANSWERS AND MORE ANSWERS
|
The Compleat Guide to Day Trading Stocks
Jake Bernstein
Manufacturer: McGraw-Hill
ProductGroup: Book
Binding: Hardcover
General
| Popular Economics
| Business & Investing
| Subjects
| Books
General
| Business & Investing
| Subjects
| Books
General
| Accounting
| Industries & Professions
| Business & Investing
| Subjects
| Books
Futures
| Investing
| Business & Investing
| Subjects
| Books
General
| Investing
| Business & Investing
| Subjects
| Books
Introduction
| Investing
| Business & Investing
| Subjects
| Books
Stocks
| Investing
| Business & Investing
| Subjects
| Books
General
| Personal Finance
| Business & Investing
| Subjects
| Books
General
| Strategy Guides
| Games & Strategy Guides
| Computers & Internet
| Subjects
| Books
Internet Games
| Games & Strategy Guides
| Computers & Internet
| Subjects
| Books
Technical Support
| Business & Culture
| Computers & Internet
| Subjects
| Books
Network Security
| Networking
| Computers & Internet
| Subjects
| Books
Investing
| Personal Finance
| Software
| Computers & Internet
| Subjects
| Books
General
| Accounting
| Business
| Software
| Computers & Internet
| Subjects
| Books
General
| Computers & Internet
| Subjects
| Books
General
| Accounting
| Accounting & Finance
| Professional & Technical
| Subjects
| Books
Look Inside Business Books
| Trip
| Specialty Stores
| Books
Look Inside Computer Books
| Trip
| Specialty Stores
| Books
All Amazon Upgrade
| Amazon Upgrade
| Stores
| Books
Business & Investing
| Amazon Upgrade
| Stores
| Books
Computers & Internet
| Amazon Upgrade
| Stores
| Books
Professional & Technical
| Amazon Upgrade
| Stores
| Books
Similar Items:
-
The Compleat Day Trader II (Compleat Day Trader)
-
The Compleat Day Trader: Trading Systems, Strategies, Timing Indicators and Analytical Methods
-
Stock Patterns for Day Trading
-
A Beginner's Guide to Day Trading Online
-
The Day Trader's Survival Guide: How to Be Consistently Profitable in Short-Term Markets
ASIN: 0071361251 |
Book Description
Day trading is Wall Street’s hottest trend and, in The Compleat Guide to Day Trading Stocks, famed futures trader and author Jake Bernstein turns his attention, knowledge, and experience to the exciting world of stock trading. Bernstein covers timing systems, trend following systems, breakout systems, and more—all illustrated with chart examples based on intra-day time frames, and supported by results from his meticulous, historically accurate back testing.
Basic enough for novice traders—yet with enough detail for the most demanding market veterans—Bernstein’s book gives day traders the tools they need to succeed in this fast-paced, relentless market. Special attention is given to:
• Day trading the technology sector
• Risk management and diversification
• Little-known nuances of order placement Jake Bernstein (Northbrook, IL) publishes MBH Weekly, a newsletter covering the commodities and futures markets. Author of The Compleat Day Trader and Strategies for the Electronic Futures Trader, Bernstein is a popular speaker at trading seminars and regularly appears on radio and television.
Customer Reviews:
Fuzzy Math.......2004-06-06
Although there is much informative basic material in this book, I cannot stand the fuzzy math this author uses. The percentage gains he reports in some of his examples are blatantly deceptive. An example is Fig. 5-10, where he shows the possible gains achievable using the "gap" method. He quotes a profit potential of $21062, which I dont dispute. However, there is no mention of the actual money necessary to make the trades shown, which is probably somewhere around $30,000 (minimum). This would yield a profit of around 67%. The figure, however, quotes a profit return of almost 700%!! Whether or not these figures are his, or if he borrowed them from another source does not matter. He should know better! This sort of misleading "fluff" does nothing but confuse the amatuer and leads to the expectation of gains much better than realistically possible with a small account balance. Throughout the book, math like this is used to over exagerate possible gains from day trading.
Disappointed! Too simple, sometimes naive.......2002-09-16
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.
So simple, so good..........2002-04-03
Jake has writed no news about trading world, but all that the traders need is into this book. Sometimes we read a bit of trading system, a bit of psicological approach, etc. Jake said that the book is dedicated to day traders and aspiring day traders the world over. Doing day trading is arduous: the challenge immense. The promise of victory and lure of wealth inspire you daily to confront the odds of success. Jake give us this book in the hope that his efforts, research, suggestions, systems, and methods will help us achieve our goals.
Great buy!
Compleat Guide to Day Trading Stocks.......2002-03-18
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!
ANSWERS, ANSWERS AND MORE ANSWERS.......2002-02-17
THIS IS A GREAT BOOK TO GET ANSWERS TO QUESTIONS ABOUT SHORT-TERM AND DAY TRADING. THIS BOOK TELLS YOU WHAT YOU NEED TO KNOW AND IT EXPLAINS HOW TO GET WHERE YOU WANT TO GO. THE AUTHOR DOES NOT TELL YOU ONE METHOD OF TRADING. HE LAYS THEM ALL OUT FOR YOU TO DECIDE WHICH METHOD BEST SUITS YOU; WHICH IS THE KEY TO SUCCESS IN ANY ENDEAVOR. MR BERSTEIN IS A VETERAN AND HE TELLS YOU WHAT HE THINKS. TO ME THAT MEANS A LOT.
THE WEALTH OF INFORMATION IS ASTOUNDING.
A MUST READ.
Amazon.com
Sometimes our parents plant weird ideas in our heads, such as "You shouldn't be selfish," when the subject of buying something nice arises. As an adult, that often translates into "I don't deserve to have money." Or maybe we feel so good about the money we make that we can't resist spending it on whatever catches our eye: a new pair of shoes, a titanium mountain bike, a leather love seat to go with the leather sofa we couldn't afford last month.
Financial planner Brooke Stephens has heard every excuse for not making, saving, and investing money; she also knows that no matter what attitude a person starts with, he or she can change it. So Wealth Happens starts with baby steps--tiny exercises to change your mind about money, and to increase your knowledge about what it can do. Then she shows the basics of investing, building wealth, protecting what you've built, and, finally, retiring on that wealth.
Sprinkled among the chunks of concrete advice are quotes and proverbs ("Save money and money will save you"), inspirational anecdotes (John D. Rockefeller built an incredible fortune while tithing 10 percent to his church), and real-life scenarios showing how a decent income can get gobbled up with foolish purchases and the resultant credit-card interest. Wealth Happens is about as beginner-friendly as personal-finance guides can possibly be. Because of that, it probably won't be very useful to the person who's already paying off credit-card balances each month and saving for retirement. But for the person who wonders how people who own homes got them, or how anyone can actually afford to retire at 65, this is the book to buy. --Lou Schuler
Book Description
Does a secure financial life seem to difficult to imagine let alone achieve? Does wealth strike you as an impossible dream? Whether you're living from paycheck to paycheck, or simply confused by the world of stocks, bonds, and brokers, it's never too late to change your situation. All you need is a little help.
By spending just ten to fifteen minutes a day with this immensely helpful book, you'll discover that financial security is just steps away. Filled with the wisdom and advice of a seasoned expert, this year-old program for success shows you how to:
- change your attitude and change your life
- break out of debt and control your spending
- choose investments and make your money grow
- protect your gains and prepare for a comfortable retirement
- give your children or grandchildren a secure start in life and much more!
Customer Reviews:
The Best Book of Finances I've Ever Read.......2006-05-10
This book truly changed my life. Ms. Stephen's down to earth, friend-to-friend approach spoke to me like no other financial advice book ever had. As everyone here has said, the daily devotional style makes it easy to digest and the quotes are truly inspirational. My thanks to Ms. Stephen's for this fabulous book.
Best of it's kind.......2003-09-05
Wonderful book for those who want to learn how to learn how to gain control of your money and invest.
Incredibly Informative..........2002-02-13
I recommend this book to anyone who needs to gain control of their finances and set up their future.
Easy to follow....straightforward....tons of great advice!
This book is wonderful.......2002-02-12
I feel that my review should be first! This book is great. Not only is it a daily financial devotional, but it is also a down-to-earth NIV financial bible. I bought this book on a clearance rack in Crown and never read it until last week(note, I bought the book a year ago!). However, buy it, read it, use it, and read it again......
excellent book and as easy to read as a novel.......2000-06-04
Like the other people who reviewed this book, I just love it. I first borrowed it from the library and then purchased it for myself. I like the way it is made up, in tiny steps and really easy to read and follow. It truly inspired me to take a new look at money and I found out that you can save money in more ways than I ever thought possible. I highly recommend it. It is well worth the price.
Book Description
Jump Into the Day-Trading Trenches and Sharpen Your Own Survival Skills
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 from the market.
Making money isn't easy—with a 75 to 90 percent 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? How do they do it? What are their secrets? In
The Guts & 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 enough to lose vast fortunes.
Whether you're a trader yourself or just a casual investor, their stories and strategies will keep you on the edge of your seat. The 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 or investing techniques by learning what most of them did right—and what some of them did wrong.
"An excellent successor to Jack Schwager's Market Wizards. I highly recommend it to anyone serious about trading and investing."
—Zhiwu Chen, professor of finance, Yale University School of Management
"Mark Ingebretsen subtly debunks the worst day-trading stereotypes. The stories offer real-life lessons that any trader can profit from."
—Jamie Heller, editor-at-large, TheStreet.com
"Invaluable reading for anyone who considers making money in the stock market a priority."
—Kris Skrinak, general manager, ClearStation.com
Customer Reviews:
A Handbook For Skeptics.......2005-11-09
I was thinking of leaving my present job (in the administrative field, basically, I work as a secretary in an office downtown San Francisco) for the glamorous field of day trading, because a cousin of mine claimed to have made over $10,000 a day for eight days in a row, and this fellow is a totally uneducated guy without a brain in his head, so I figured, how hard could it be? However Mark Ingebretsen's book convinced me that I'm not quite as ready as I thought I was to jump into the pool of guts they call the day trading game.
No matter if you're new to the job or an old hand, day trading requires either nerves of steel or a mind completely dulled by OxyContin. Ingebretsen has rounded up the usual suspects, but makes his own contribution of a radpidly expanding field by interviewing some luckless schlemiels who lost everything, and would you believe it, more than one of them claim they have no regrets! I'd be kicking myself around the block and these people are just flushed with triumphant and glistening with endorphins.
My cousin says he just went in on a dare from an old college roommate. They read a book called DAY TRADING FOR DUMMIES, and the next thing you know they were holding down space at one of those trading parlors in Sunnyside. And the next thing you know after that, Jeff (my cousin) is hosting a family reunion at "Firefly," his newly purchased retreat in Jamaica, formerly the home of the Duke and Duchess of Windsor. However, envy and jealousy have torn his immediate family apart and none of them are coming, so what's the odds? It's like being a lottery winner. On the one hand, all your dreams come true, but on the other, like Jennifer Aniston, or Karl Rove, your life becomes miserable thanks to renewed public scrutiny.
Amateur at best.......2003-12-24
The 'error' in the title of this book is a representative of the appalling quality of the book. To be fair, the author cites his definition of 'day trading' which is *NOT* the industry accepted definition.
A couple of problems with this book:
- the author appears to have no idea regarding the topic of trading;
- it generally has little to do with day trading;
- most subjects in the books are average people who got lucky with apparently no skills (nor common sense);
- the book is written in a style suited to magazines, particularly those for pure entertainment - although unfortunately it is not entertaining at all. The author is unable to direct subjects to the appropriate topics and fails to extract anything substantial in any area; and
- there is very little useful and educational information in it at all (eg statistics / methods / psychology / money management).
There are many other books that are significantly better than this one, particularly Schwager's Market Wizards books.
If you're looking for some possibly fun (for those who haven't read anything in this area), brainless and easy reading - this could be your answer to boredom.
If you want anymore, I'd almost guarantee your disappointment.
The Worst trading book i've ever read.......2002-03-04
I am a full time equity & futures trader. I have read a lot of trading books. The Guts and Glory of Day Trading, has NOTHING to do with day trading. It's just story telling. No *exact* programming code revealed, no statistical analysis either. Overall, it tells you nothing at all about day trading.
Learn from others' mistakes.......2001-12-04
Dear Mark,
I just wanted to say how much I enjoyed your book. Of course I am trying to make a living as a daytrader, but what I find interesting is that your book has the mistakes the various traders have made as well as their success
stories. It is very inspirational to know that other people have setbacks too. I am living in Japan; I teach in the evenings then come home and trade from 11:30pm (Japan time) through to early morning, then sleep, then new day begins.......so I am a "night-trader"......... Anyway I just wanted to say I read and appreciated your book very much! Write another!
The worst book about day trading I've ever read.......2001-10-05
"What is a day trader? Maybe it doesn't matter."
Unfortunately for us readers, this statement (taken from the book) is not meant as a joke. Many of the chapters are about people who have absolutely nothing to do with day trading. It is amazing that the author claims to have selected these people from a much longer list of candidates. Well, maybe it isn't that amazing when you consider that everything in this book is based on phone interviews in which the "traders" presented their own stories. No trading records were reviewed, not a single account was audited.
Let's look at two examples taken from the book:
Example 1: "Barbara Hamilton" (her real name was not given in the book): divorced and received $525,000, which she turned into (the text isn't very specific about this) a little more than one million...by buying and holding internet stocks in 1998 and 1999. Despite being considered a "day trader" by the author, she was still holding them all the way down, and lost most of her money. The chapter ends with the words: "And she was bound and determined to make back her million."
Example 2: Mary Pugh: Bet all her money (!) on one single penny stock, held it on the way up, held it one the way down. Needless to say, that's a little different from what I consider day trading.
Just as an aside: The cover blurb ("Real-life lessons that any trader can profit from.") was written by Jamie Heller, editor-at-large at TheStreet.com, the web site Mark Ingebretsen used to write articles for. I guess that's what friends are for.
Book Description
You're no idiot, of course. You can surf the Web with the best of them, and check the stock market online. You even did all your holiday shopping via the Internet. But when it comes to trading stocks and bonds, and especially making day trades, you leave it to your broker to call the shots. Don't make another phone trade! The Complete Idiot's guide to Day Trading Like a Pro shows you the secrets of going head-to-head with actual traders and brokers. You'll learn where the best trades are made, how to gain direct access to markets, and how to use the strategies of the top market makers. In this Complete Idiot's Guide, you get:
Customer Reviews:
Excellent book for a beginner.......2006-12-16
Recently I decided to try short-term trading. Soon I realise that I need to learn more. What is going on behind bid/ask postings, how to read and interpret Level II quotes, what is Naqdaq TotalView, what advance platforms are available today, etc? So I went to local bookstore and browsed through the section. Didn't find anything satisfactory so bought this book as a temporary solution. After an hour of reading I decided to write my first book review on Amazon.com. This is simply the best book I could hope to find on the subject: precise, structured, brief yet informative, state-of-the-art information. Excellent book overall. I highly recommend this book for beginners and may be even more experienced traders that didn't keep up with the latest advances. My only complain is that the indexing is not detail enough.
MUCH Better than first edition.......2005-11-11
New edition just out. More sensible approach, and updated. Definitely worth the money, especially for new traders.
It does have a few nuggets ... How ever..........2005-09-27
This particular book is fine as a general reference on the stock market, but frankly beginners will need more concrete and to the point strategies to make it as online stock traders.
The reality is that the stock market doesn't care if you are a beginner. It will gladly take your money away if you don't know what your doing. So the bottom line is, you better be PREPARED before you even think about making your first trade.
Stock trading is a very competitive field and in order to succeed you need to FOCUS on a set of simple strategies that you can implement without hesitation.
This game is all about buying and selling according to your set ups. So the clearer your set ups are, the easier for you can be to make a profitable decision.
Hopefully some sites on the web do offer more relevant and updated stock trading information. One of those sites is Sharp Trades ( SharpTrades com )
They focus mainly on short term momentum stock trading strategies, that in my opinion are easier to implement than many other technical systems outhere.
Stock trading doesn't have to be complicated as many people perceive. But you do need to follow a well organized set of rules and tactics, that once you master them, you can aspire to replicate profitable trades with consistency.
Good first book on day trading.......2005-03-09
If your stock market experience is limited, this book will serve as a good introduction. The material is basic and presented in an easily understood format.
0 stars if allowed.......2004-12-21
Sorry, but this book appears to have been written by a wanna be writer whose style---if you can call it that---is so blatantly irritating, condescending, and ridiculous that its facetiouseness distracts from any worth the book might otherwise provide which is minimal at best. Almost every paragraph contains a silly lead in to the next as if the writer is trying to hold your hand and help you 'get through' the material. Stuff like, 'ok, we're almost there now!' and 'I know you probably want to get right to the good stuff, but first, let's get a few of the harder points over with!....' Still with me? Both the writer and publisher should be pilloried for presuming the public is THAT dumb. You guessed it: don't buy this rubbish. And while we're at it, probably the only other book that's just as bad as this one for silliness is Toni Turner's.
Amazon
Only a small percentage of those who try day trading achieve success because most are undercapitalized, lack discipline, and have little idea how much knowledge and experience are required. For the determined newcomer, David S. Nassar's How to Get Started in Electronic Day Trading Home Study Course is a comprehensive immersion that includes a well-written workbook, 10 hours' worth of audiocassettes, and a CD-ROM. Nassar, author of the book How to Get Started in Electronic Day Trading, is a trader who heads a brokerage firm offering electronic trading as well as training. He writes, "My task here is to teach you to play with fire without getting burned."
The workbook presents an overview of the markets and introductions to electronic direct-access trading (EDAT), indexes and indicators, and technical analysis. Also included are detailed explanations on how to pick tradable stocks (are you a specialist, scalper, or shepherd?); trade the news (earnings, splits, economic announcements); and profit from going short ("trading the bear inside you"). The chapters on market psychology and money and mind management are particularly astute ("The Emotional Bank Account Is Funded by Attitude"), and all are cross-referenced and reinforced in the corresponding audio tapes. The CD-ROM includes effective audio-visual presentations on the components of an EDAT trading platform, the analytical tools, trading mechanics and execution methods--most illuminating are the trades the author navigates, tick by tick, on NASDAQ level two.
In all, Nassar has done an admirable job of creating a thorough introductory training course, and his enthusiasm and passion for markets and trading are infectious. Those serious about learning to trade successfully will find this an effective--and hopefully profitable--introduction. --Scott Harrison
Book Description
The national business bestseller
"Nassar has in mind sophisticated real-time data and computer programs that let ordinary investors see the same stock information pro traders see at the very same moment . . . a great introduction."
Kiplinger's Personal Finance
"Reveals important tips and tactics for novices. . . . offers surprising and educational insights on how to 'buy and sell' on the same computer networks as brokers like Goldman Sachs."
ABCnews.com
"This book takes you to the leading edge of today's electronic trading technology. Regardless of the prevailing market sentimentbull, bear, or sidewaysits techniques and strategies will help you take advantage of the profit opportunities that occur every trading day."
Technical Analysis of Stocks and Commodities
Customer Reviews:
A small fish in a competitive pond.......2007-04-01
If there were no other books for those desiring to learn to trade this book would be ok. This covers a lot of the basics but not as well as many others available. I have been investing in equities online for five years - before that in mutual funds that I selected. I'm now looking to start trading based on technical analysis rather than fundamentals. Two books that I would suggest that are more comprehensive and easier to read are Toni Turner's book "A Beginner's Guide to Day Trading Online" and the best I have read so far by John Carter "Mastering the Trade".
Bad Book by an Excellent Author.......2006-03-19
Maybe "bad" is a bit harsh. David Nassar is a real and successful trader, and a guy who has years and years of experience training and managing highly successful traders to boot. He writes great articles for Active Trader and Futures magazines, and has written another book that I consider to be five-star outstanding.
But this book is disappointingly basic. It focuses on the mechanics of how trading is done and gives very little, if any, actual trading methodologies. A quick look at the table of contents and you will get the overview. It seemed to me like half the book was discussing how an order is placed!
Perhaps part of the problem is being outdated. Deciding how to route an order these days is a very insignificant factor in daytrading; the days of the SOES bandits are long, long gone. Broker's trading platforms now use smart routing technologies to get the best fill, and as a sharp trader you are using limit orders on stocks that have a 1 cent spread anyway. I suppose this was written back when you could take advantage of price differences between ECNs and Market Makers.
Your time is much better spent reading his other book, Rules of the Trade, where you can actually learn a few things and become inspired.
[...]
aweful.......2005-12-30
bought book flipped through for 5 minutes, found good use starting a woodfire. all the info contained can be had for free on the internet. if youve been trading more then 2 days you already know more then the scope of this book
You can make it using a simpler approach.......2005-11-17
I like some of the ideas presented by Mr. Nassar, however i think he needs to update his book and get a little bit more practical.
When you make a trade either your going to lose money or your going to make money, and some other times you will break even. When you win some body else will lose and so forth, but that's NOT what's important.
The most important aspect in day trading is the knowledge FILTER you employ to make your buy & sell decisions. There are many "fantastic" strategies outhere, but you need to test them in order to discover which ones help you the most.
Complicated strategies that rely on a "boat load" of technical indicators can make you slow, and being slow in this game can be as dangerous as not knowing what to do in the first place.
I think the worst thing that can happen to a beginner day trader is to get information overload. It's better to go step by step, and test a simple strategy that can show you how to focus on concrete ways to make money.
Fortunatly there are some good sites on the web today that can show you how to trade stocks in practical and effective ways. One of those sites is Stress Free Traders ( StressFreeTraders com )
In the end, stock investing & trading is all about buying and selling according to your knowledge FILTER. Once you master and follow youre proven filter parameters like a clock, you can expect to start making serious amounts of cash on a consistent basis.
Experience Comes Through.......2003-10-30
Awesome ideas to make money with. I have been trading 35 years and feel the ideas in this book are timeless techniques that I know work. The book was written with experience and it shows. I've read many and this is one of the best.
Average customer rating:
- Reality? This should not be used to learn day trading.
- don't buy this book
- A Great Insight Provider
|
How To Start Day Trading Futures, Options, and Indices
Jeffrey Owen Katz , and
Donna L. McCormick
Manufacturer: McGraw-Hill Companies
ProductGroup: Book
Binding: Hardcover
General
| Popular Economics
| Business & Investing
| Subjects
| Books
General
| Business & Investing
| Subjects
| Books
General
| Accounting
| Industries & Professions
| Business & Investing
| Subjects
| Books
Commodities
| Investing
| Business & Investing
| Subjects
| Books
Futures
| Investing
| Business & Investing
| Subjects
| Books
General
| Investing
| Business & Investing
| Subjects
| Books
Options
| Investing
| Business & Investing
| Subjects
| Books
Stocks
| Investing
| Business & Investing
| Subjects
| Books
Network Security
| Networking
| Computers & Internet
| Subjects
| Books
General
| Accounting
| Business
| Software
| Computers & Internet
| Subjects
| Books
General
| Computers & Internet
| Subjects
| Books
General
| Accounting
| Accounting & Finance
| Professional & Technical
| Subjects
| Books
Look Inside Business Books
| Trip
| Specialty Stores
| Books
Look Inside Computer Books
| Trip
| Specialty Stores
| Books
ASIN: 0071359192 |
Book Description
New electronic technologies, along with new stock index futures and options, now allow average investors to cost effectively trade entire stock indexes online¿if they know where to start. How to Get Started Day Trading Futures and Option Indexes teaches beginning traders everything they need to know, from selection of hardware and software to opening an account and placing trades, and helps them gain access to this exciting, fast-paced, and potentially profitable trading opportunity. This simple, practical, and useful guide, filled with concrete examples and detailed instructions, provides a step-by-step approach suitable for traders of all experience levels. Helpful details include: *Finding data and online trading service providers *Mechanics of online trading *Simple trading strategies
Customer Reviews:
Reality? This should not be used to learn day trading........2002-02-02
This is in response to the first review of this book, written Nov 13, 2000 - The book came out Oct 27, 2000, right? And you were given this book by a 'veteran trader'? So, in 17 days, this 'veteran' trader read this book, it changed his life, and then he passed it along to you, and you read it too? C'mon. Obviously this review was written by the publisher or author(s). I, however, have read this book. But I can say this much. This book is more geared to the beginner, and as such it is very dangerous to recommend that a beginner day-trade futures and options. This book should not be used as the basis for actually getting into any sort of day trading.
don't buy this book.......2002-01-31
I bought this book but it only contains outdated information.e.g on computers that should be used. The book is not true to its title of how to start day trading. Junk info like getting internet connection, comfortable chair etc are frustrating. Basic info like defining trading terms like t & f analysis, what are options & futures can be gleaned from anywhere free of charge. It is unwise to spend money on this book. If one just asks people on the message boards he will get the info free of charge.
A Great Insight Provider.......2000-11-14
Recently, a friend--a veteran trader--gave me a gift he said would help me--a novice--further my education. The gift consisted of two books: Oz' "The Stock Trader" and Katz and McCormick's "How to Start Day Trading Futures, Options, and Indices." As far as I'm concerned, these two books complement one another perfectly. One provides insight through example and the other provides basic knowledge and procedure. These books have not only helped me improve my trading and money management skills, but my appreciation of the nuances of the game.
Customer Reviews:
A buyer.......2006-09-18
Zero-. Author is more concerned of protecting his macros and VBA modules then to give real knowledge to the readers. So the rest of his books flooding the market, instead of just One but really good.
Absolutely first rate!.......2005-12-31
It seems as if I'm the pariah -- given the lukewarm nature of the preceeding reviews -- but, not afraid to sound contrarian, I unreservedly give this book five stars.
I believe "Mastering Financial Modelling" is not only one of the best books on the subject, but it is simple to read and understand, and convinces the reader that creating your own financial models is a lot of fun. I'm not sure you can acquire the same sense of satisfaction after reading its competition.
If you aren't sure about this book's utility as regards your immediate needs, feel free to visit www.financial-models.com, which gives a superficial representation of what you'll find in the book.
PS: I owned Benninga's "Financial Modelling" for about 4 years, before I sold it so that I could buy Day's book. Benninga's book is good for finance formulars and so on, but Day goes a step farther and gives you real models with the formulars and explains in greater detail how things like Combo Boxes work and so forth.
The only quirk with this book is that it does not come with a CD-Rom as promised on the website. I was pretty upset at first and e-mailed the author about it. But he quickly referred me to the Financial Times website, where I was able to obtain free downloads. If you own a MAC the files might not work for you. Nonetheless, I believe this is a relatively minor distraction in an otherwise fantastically put together piece of work.
Ignore previous reviewer -- password protection IS a major problem.......2005-07-24
Even if you copy the templates to your hard drive, you CANNOT customise the many password-protected spreadsheet templates included on the CD.
Even more disappointingly, the password prevents you from using Excel's audit function to trace formulae components.
This means that to understand formulae one must resort to the tedious, stone-age method of looking in the formula bar and noting down by hand that the formula is, for example," = (sum (A6:G12)) * [next sheet!]Q7 + ([sheet 7!]T78 / [sheet 3!] c24)", and then translating it all into English.
In summary, if you want to teach yourself from this book it will cost you a very substantial time investment in addition to the book's cover price.
ignore previous reviewer.......2003-01-03
if you actually install the files, instead of running them off of the write-protected CD-ROM, you can edit them.
Good Ideas - BUT You Can't Customize the Spreadsheets.......2001-10-05
Some good ideas about applying Microsoft Excel are included in book and the accompanying CD-ROM. But unfortunately the included models are not practical for most American readers. They use English nomenclature - NPAT instead of Net Income, etc. - and have formatting that looks ok on screen but is less than presentation quality when printed.
The author has password protected the spreadsheets so you can't customize them to your own needs. A serious drawback for the serious user, clearly the intended readership for this book.
Books:
- Traditional Construction Patterns: Design and Detail Rules-of-Thumb
- unSpun: Finding Facts in a World of Disinformation
- Using Mathematics in Economic Analysis
- What We Want Is Free: Generosity And Exchange In Recent Art (S U N Y Series in Postmodern Culture)
- Whatever It Takes: How Professional Learning Communities Respond When Kids Don't Learn
- Why Employees Don't Do What They're Supposed To Do and What To Do About It
- Why ERP? A Primer on SAP Implementation
- Wiley CPA Exam Review 2007 4-volume Set (Wiley Cpa Examination Review (4 Vol Set))
- Wiley CPA Exam Review 2007 Auditing and Attestation (Wiley Cpa Examination Review Auditing)
- Wiley GAAP 2007: Interpretation and Application of Generally Accepted Accounting Principles (Wiley Gaap)
Books Index
Books Home
Recommended Books
- International Economics
- Friendly Fire: The Accidental Shootdown of U.S. Black Hawks over Northern Iraq
- What Price the Moral High Ground
- 2004 Statement of Concepts
- Business Analysis and Valuation: Using Financial Statements, Text and Cases
- Circle of Stones: Woman's Journey to Herself
- Business Strategy: A Guide to Effective Decision-Making
- Cost Analysis of Library Functions: A Total Systems Approach
- A Declaration of Interdependence: Why America Should Join the World
- Airtight Case: A Lindsay Chamberlain Novel
The Master Swing Trader: Tools and Techniques to Profit from Outstanding Short-Term Trading Opportunities
Strategies for Profiting on Every Trade: Simple Lessons for Mastering the Market
Japanese Candlestick Charting Techniques, Second Edition
How I Made $2,000,000 In The Stock Market
