Day Trading Stocks the Wall Street Way: A Proprietary Disclosure on Intra-Day Trading and Swing Trading Equities provides a real-world guide to successful day trading, and gives you the tools, techniques, and tested, reliable methods you need to trade like the pros. Written by a seventeen-year day trading veteran, this guide talks you down from the industry hype to give you a realistic grounding in self-discipline, consistency, and patience while teaching you the hard skills you need to have a real chance of success.
If you’ve read my ﬁrst book, The Truth About Day Trading Stocks, then you’re well-prepared for this new, more technical application of my trading methodology. Before you get started, all you’ll need is awareness of the updates and modiﬁcations that have been added since 2008, and that vital information is here. For those who haven’t read The Truth About Day Trading Stocks, I recap the book’s major lessons in the ﬁrst part of this book.
I designed this second book speciﬁcally to disclose my proprietary applications to intra-day trading stocks and swing trading stocks (equities). I have been trading since 1998, but I learned most of the applications here while trading on private equity ﬂoors near Wall Street. After I disengaged from private equity trading ﬂoors I began my own unique system that works for the relatively lower-capitalized independent day trader. After eight years of testing and trading with a high rate of success, I ﬁnally designed my own highly transparent trading system. In this book I show you precisely how I trade stocks by using both intra-day and swing strategies, and most importantly, by using their fusion. You will be introduced in Part 4 to my new term, Fusion Trading.
What is Fusion Trading? Think about it: you can’t place an intra-day trade without knowing where your swing levels are. Conversely, you can’t place swing trades without considering your intra-day levels. That interconnection is the core of my system and the secret to the Wall Street price levels: no guesswork, no indicators—nothing but real price levels. Your challenge is to know which price levels work best for you, and how many shares at each level. You may be tempted to apply what you learn here to live trades. That would be a huge mistake. Just reading about the system will not make you ready to use it. My goal here is to have you digest the information and see the potential for success, a potential that can’t be realized until after I’ve formally trained you.
- In Part 1, I address the permanent, ironclad focal points of The Truth About Day Trading Stocks. You’ll ﬁnd instructions that must be hardwired into your trading psychology. These are prerequisites to learning the framework of my intricate current system. Hundreds of rules and procedures must be followed to the T.
- In Part 2, I introduce you to only the intra-day portion of the system. It’s critical that you start with intra-day, because you need to get in rhythm with your stock on that basis. I show you which level to trade, and why. You’ll learn several procedures and the mechanics of intra-day trading. You’ll learn why it’s crucial to not assume that you can trade the intra-day rules and strategies without knowing the swing trading system, and without knowing how to fuse them.
- In Part 3, you’ll learn the core swing trading methodology. Again, you’ll see why you can’t use one strategy without thoroughly knowing the other. The fusion of both is shown later.
- In Part 4, you will be introduced to Fusion Trading. I show examples of several trade setups that illustrate how important it is to know both intra-day and swing trade strategies. You’ll ﬁnd that you have several options, such as intra-day trading only, swing trading only, or intra-day trading and swing trading on the same day.
- In Part 5, I offer several advanced rules and procedures. One is what I call pivot trading. I use this method to recapture any incremental losses in one single trading day due to a stop-loss exit on a portion of my overall position. I show you how, at the very next trading session, I get right back in at the same level or better.
- In Part 6, I demonstrate several examples of how you can easily screw this system up by throwing certain rules out the window. My main goal in this part is to drive the point home that this system takes weeks if not months of training with me before you are ready to go live. If it were up to me and not my editors, I would title this part: The Guy Who Thought He Could Trade This System without Being Formally Trained.
- Control of Emotions and Mastery of Focus
- How Overconfidence Can Destroy Your Trade
- Dealing with Your Impatience
- KnowingWhen to Stop Trading
- Risk Management: Buying Power versus Capital
- Avoiding Overexposure to Market Risk
- Budgeting YourWay to Profitability
- A Realistic Look at Stop-Loss
- Day Trading Is Not Gambling
- Consistency Rules!
- News versus Noise
- When It Comes to Averaging Down, Amateurs Beware!
- What Stocks to Trade and Why
- Picking the Right Online Broker
- Basic Procedure
- Prior Price Levels and Newly Forming Intra-Day Levels
- Intra-Day Golden Rules: Entry/Exit Setups
- The Mechanics of FASTKEY Order Execution
- Introduction to Swing Trading: Basic Rules and Procedures
- Sample Swing Charting Setups
- Introduction to Fusion Trading
- Sample Fusion Trade Setups
- Maximizing Net Profits and Minimizing Losses on Overall Trade Setups
- My Trading Room and How It Works
- The Day Trader Josh Training Program
Day Trading Stocks the Wall Street Way: A Proprietary Method For Intra-Day and Swing Trading By Josh DiPietro pdf