Discussion in 'Educational Resources' started by tonyzhou, Dec 31, 2006.
Could you recommend some day trading books for me? Thanks.
Alan Farley, "The Master Swing Trader".
I've read lots of daytrading books. None were any good.
Don't daytrade. You will lose. Everybody loses. Everybody.
Sure... everyone loses in any timeframe at one time or another. I can tell you one thing for sure: one can make a living for years daytrading.
It is a business just like every other business. It requires and investment, some tuition, plans and a vision.
With all due respect, you have spoken with every day trader and confirmed that they all lose? How long did it take you to track them all down? You didn't speak with me so I am assuming you missed a few others as well.
I guess I will never understand the logic behind "I tried, I failed, so it must be impossible."
Personally, there arent many books that I have read that I would say will help you be a better daytrader (I have read many books related to trading). The best books I have read deal with the right mindset rather than a specific trading strategy. My recommendation has been posted ad nausem here on ET but I really like Mark Douglas's "Trading in the Zone". For me, I read it right at the breaking out point and it helped me over that hump. I recommended it to a fellow trader at a time when I could see he needed that extra push and he read it and proceeded to break out and then made over 200k net over the next 12 months. So, for us, it helped greatly.
If I had to pick just one, I'd say "The Stock Trader" by Tony Oz. A bit dated but still gives you a good look at a day in the life of a day trader.
If you are just starting out try reading Toni Turner to get the basics.
Good luck, don't let the naysayers get you down. You'll only be as successful as you you are determined.
Trading in the zone
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