The Day Trader’s Guide to Technical Analysis
$13.10
| Author(s) | |
|---|---|
| Pages |
298 |
| Format |
|
| Published Date |
2000 |
The Day Trader’s Guide to Technical Analysis shows traders already familiar with charts and charting how the well-known, time-honored rules of technical analysis can help uncover tremendous profit opportunities in today’s fast-action, wide-open electronic day trading environment.
Introduction:
The methods of technical analysis in this book focus you on the reality of what is happening to the price of assets rather than the hope the price will move in your favor. Hope is one of the cruelest killers of capital in a novice day-trader’s account. For technical analysis to work for you, you must be totally disciplined: As soon as the reason that you entered a trade is no longer there, you must exit as quickly as possible. In this book we’ll cover the following points in detail:
- Why the NASDAQ market is better suited to day trading and why listed securities are better for swing trades (the practice of holding stocks overnight).
- Trading concepts, such as Dow Theory, that have stood the test of time and how they can be applied to day trading.
- Activities that get in the way of making profits.
- Understanding the NASDAQ Level II screen and time of sales, with special attention to why they may legitimately provide conflicting information.
- Getting the best price for your trade by critically appraising all the execution mechanisms open to you, like ECNs, SOES (which in many cases is no longer the fastest route), and SelectNet.
- Detailed tracking of real trading activity using these principles, including premarket preparation/stock selection: the analysis that is best applied to the open, middle, and closing periods of the trading day; and illustration of execution routes.
- Trading psychology and generating your own list of rules that will help maintain your discipline.
These points cover the essentials of day-trading success, which are identifying opportunities, executing effectively, and maintaining discipline.
Contents:
- Why Day Trade NASDAQ Securities?
- Trading Concepts That Have Stood the Test of Time
- Activities to Avoid
- The NASDAQ Level II Screen
- Executions
- A Trading Week
- Trading Psychology
- Keeping Track
The Day Trader's Guide to Technical Analysis By Chris Lewis pdf
5 reviews for The Day Trader’s Guide to Technical Analysis
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Dallas Lin (verified owner) –
Chris Lewis has written a good book on some of the more heard about, but little understood points of the stock market. It is an easy and enjoyable book to read. It won’t make you the next W. Buffet, but it will make you a more versed investor.
Mabel Espinoza (verified owner) –
There is much useful material, along with a thoughtful approach to creating a daytrading discipline, in this book. I don’t fully agree with (and wouldn’t expect to) all of Lewis’ statements, and, as you might expect, given the changes in the trading environment over the last couple of years, many of his methods and observations are arguably already out of date, but others still apply, and his overall philosophy, perspective, and attitude are probably more important, in my opinion, than the particulars of his personal approach as practiced in and around late 2000. The text includes numerous clear, concrete, and detailed examples, though you may have to look past an L2 screen with a stack of QCOM buyers at 343 13/16 (I just never get over mania-market prices) to receive the message.
Makenna Gonzalez (verified owner) –
The good points: first, the book’s emphasis is on trading the open, offering a straight forward strategy for playing momentum type gaps. Second, the book has a thorough review of TA basics filtered by practical and experienced advice. Third, there were several odds and ends (like NASDAQ having two data feeds, do the S&P Futures really say anything, etc) that were indeed helpful.
The not so good points: while, its all there, you have to really read the text carefully to extract what you need – meaning it could have been better organized for flow in some chapters. Second, a week in the life “Trading Week” would have been more satisfying if it had been two weeks long and not one (the author might disagree).
All in all, a rather decent book that I value for its level-headed, lets stick to the basics, here’s what really works kind of thinking.
Nathaniel Khan (verified owner) –
I lost money using these strategies. Buy Steve Nison book if you want a good book on TA. This one just doesn’t measure up.
Ethan Cobb (verified owner) –
good price to purchase only.