The Compleat Day Trader
$14.00
Author(s) | |
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Pages |
242 |
Format |
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Published Date |
1995 |
The Compleat Day Trader by Jake Bernstein is a cornerstone resource for traders who want to master the fast-paced and high-stakes world of intraday market speculation. Bernstein, a seasoned market veteran with decades of hands-on trading and research experience, delivers a practical guide that blends technical insight with psychological discipline, giving traders a clear blueprint to navigate the challenges of day trading.
The book explores the foundations of short-term trading, beginning with the essential mindset and discipline required to succeed in an environment where opportunities emerge and vanish within minutes. Bernstein introduces readers to powerful day trading strategies rooted in price action, momentum, and cyclical analysis, presenting methods that have been tested and refined in real-world conditions. He goes beyond abstract theories, offering step-by-step approaches that are both actionable and adaptable to different market environments.
A distinctive element of this book is its emphasis on timing and precision. Bernstein explains how to use indicators, oscillators, and seasonal tendencies to identify high-probability setups. He also stresses the importance of developing a structured trading plan, managing risk responsibly, and avoiding the emotional pitfalls that often undermine short-term traders. Practical case studies and chart examples illustrate each strategy, showing how to recognize signals, enter and exit trades effectively, and manage positions under pressure.
By combining analytical techniques with an understanding of trader psychology, The Compleat Day Trader provides a holistic framework for achieving success in day trading. Whether you are new to the markets or an experienced trader looking to refine your skills, Bernstein’s insights offer clarity, discipline, and proven methods to help you trade with confidence.
This book is not just about making quick profits; it is about building a sustainable approach to trading in one of the most demanding arenas in finance. It remains an invaluable resource for traders committed to developing the skills, mindset, and strategies required to thrive in today’s competitive markets.
Contents:
- The Basics
- What a Day Trader Is and What a Day Trader Does
- The Illusion of System Testing
- Day Trading with Moving Averages
- Intraday Application of Stochastics
- Gaps, Gaps, Gaps
- Support and Resistance: the “MAC”
- Using Wilder’s RSI for Day Trading
- Using Intraday Momentum
- Rate of Change in Day Trading
- Intraday Channel Breakout
- Traditional Methods of Technical Analysis and Day Trading
- A Unique Oscillator for Day Trading
- Scalping the Markets
- Importance of Orders
- How Seasonality Affects Markets
- Intraday Spread Trading
- The Consecutive Closes System
- Sentiment Reigns Supreme
- Critical Time of Day (CTOD)
- Putting It All Together
- The Psychology of Day Trading
- The Impact of 24-Hour Trading on Day Trading
- Twenty Keys to Success as a Day Trader
The Compleat Day Trader: Trading Systems, Strategies, Timing Indicators, and Analytical Methods By Jake Bernstein PDF
10 reviews for The Compleat Day Trader
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Riley Tanner (verified owner) –
I have completed the reading just few days back. Though I have not applied or tested the strategies. But it seems to work for long run.
Ira Allen (verified owner) –
I’ve been trading for about 10 years now, but still like buying books to see what others do / get fresh ideas, etc and this is one book I wish I had found years ago. It has useful techniques and Bernstein is to the point with very little waffle and ego. I must have about 200 or more books on trading and have two book shelfs – one for the good ones and one for the trash. This one is now on my good one.
Magnolia Matthews (verified owner) –
good book
Demetrius Vance (verified owner) –
Very practical,easy to understand and straight to the point. You can trial methods and start using quickly allowing a better understanding of what is being explained.
Bruno Rose (verified owner) –
Great work done by Mr. Bernstein ….I have found it very useful since the method provided in this book is outstanding.
Rylee Valentine (verified owner) –
Highly readable print and clear illustrations add to the clarity of presentation by Mr. Bernstein. This McGraw Hill publication is well produced. In fourteen chapters and just over 200 pages, the author has presented his Day Trading methodology in a simple, readable format with copious illustrations. This book is worth each of the 3500 pennies it cost and is easily readable and digestible in one weekend.
Given the specificity and clarity of everything else in the book, I am not sure I agree with the author’s decision not to include a brief discussion of Futures and Forex trading terminology so the charts and tick pricing would be easily grasped by the reader.
As the author says, day trading is the ultimate financial game given its challenge, its promise and the fact that it can be won; and the book shows how, as the author set out to do. `Having been educated in clinical psychology and having worked in clinical setting’ the author shows his expertise in his expose of the Psychology of Day Trading in Chapter 12, which may be read at any time.
The author is commended for his careful mention of the fact that `High-frequency trading, flash trading, and dark pools have given a distinct and possibly unfair advantage to institutional day traders’. He also says that `The so-called flash crash on May 6, 2010, is an extreme example of what can happen in today’s markets.’ The author believes that day traders who know their craft (and they will after reading this book!) can benefit handsomely from present and future volatility.
The author has illustrated a simple `Setup, Trigger and Follow-Through’ model using moving averages, momentum and Gaps. The discussion on Moving Average Channel illustrating Support and Resistance is well presented. As the author says `The simple fact of the matter is that if calculated correctly and implemented with discipline, they work’. However, the discussion on MACD is not covered as well or clearly as the rest of the indicators. Although the author should be commended for including realistic charts as examples, the discussion on page 27 is unconvincing; the author himself says `further research will be necessary’. The car analogy (page 93) in the context of momentum and energy leaves something to be desired! I never can understand why authors of well written books eschew simple physics and math to explain momentum. After all momentum here is the rate of change of price and a simple pendulum example which slows down as it reaches its positive (right extreme) and then reverses direction to do the same at the negative (left extreme) is not that hard an example for readers to understand.
Maxine Chung (verified owner) –
Nothing groundbreaking here but it is always useful to re-focus on sound advice and tips. The book is well organized and written in plain language easy to read and use.
Paityn Gray (verified owner) –
Love the book! Long-time trader. Some good techniques are included. If you’re like me, if you only pick up one idea, it is worth the small price of a book.
Preston Terrell (verified owner) –
Jake Bernstein is always a good read. A smart man…
Nicholas Ali (verified owner) –
He makes some very important points and I am still using them today. Most of important things he says could probably be said in 50 pages, the rest is mostly filler in order to make a book out of it. If you are new to day trading, this book will help you immensely