The Truth About Day Trading Stocks: A Cautionary Tale About Hard Challenges and What It Takes To Succeed (Wiley Trading)

This is a good beginners book to better understand trading stocks but in chapter 19 the author starts talking about live trading First Level Stocks using only 100 shares and to first start out by making 10 trades per day with those 100 shares. Do this for a week before increasing to 200 shares.Then the author says to go to a Second Level Stock and that you should be able to execute 30 trades per day.....Well what if the system or style and/or set-up of trading that you look for doesn't give you the chance to trade 10 times per day on First level Stocks or to trade 30 times per day on Second Level Stocks???I think you're better of just trading what you feel comfortable with by waiting for your set-ups to appear that you use to enter a buy or sell with. Those set-ups may only come once per day, maybe twice per day, or even several times per day but the important factor here is to wait until your set-up occurs and then trade the stock.Like the author mentions in earlier chapters (well....not exactly but very similar to this), trading stocks is like watching paint dry.....sometimes you have to wait just a few minutes into the trading day to execute a trade, or you might have to wait several hours to execute a trade. Be patient!!! Wait for your set-up whether it appears once per day, twice per day, or 15 times per day....wait for the set-up. Don't just trade because he says you need 10 trades per day or 30 trades per day.That is a recipe for disaster by either amateur or professional traders....May your profits be large and your losses be small!!

This book is a must read by day trader. It has many advice. The only thing for as non English native (even I have 6.5 in IELTS(, is written with literary style, I kept my dictionary next to me.

Day Trader Josh makes it crystal clear in his book that it is not only his formulas that work (which most certainly do, if you stick to them) but so does tremendous focus and self-discipline. He gets into the importance of these character traits like no other mentor I've seen. He suggests numerous ways to develop them. This is invaluable. He writes in a conversational style that made me feel like he was sitting right next to me while I struggled through my trades. Day-trading can be extremely solitary and tedious....DTJ explains how to navigate not only the convolutions of trades but also the roadblocks and high-risk temptations that can mess you up right from your mind. It's worth repeating: this guidance is invaluable.

This title comes (at the time of writing) with a hefty price tag but if you are in the intended target audience I believe the book is well worth it and I give it 4 stars. Here is why:It's not a "get-rich-quick" book. Rather it's a "Hey listen here, if you just jump in you have a good shot at bankruptcy" book.The author is not an academic or armchair quarterback but rather he is a guy from the trenches who openly confesses to some of the stupid things he did that cost him money and he reflects upon why and how that may have happened and what he is doing now to trade better. He sets realistic expectations which is important in this day and age where people leverage 1:100 and go in with zero experience expecting to make a 5 figure profit every week from home.I consider that to be quite honest. He doesn't portray himself as a know-it-all and he doesn't use the book as an advertising platform to push his own courses / seminars every second page. He does mention them of course and he is open about it but at the same time he makes no claims like "my way will make you rich" and "if you are serious about business, you ought to join my seminar and mine only".This book contains none of that and I applaud the author for resisting the urge to turn his story into a vehicle for self-promotion without showing the reader any other options.Being involved in day trading and swing trading myself I could identify with a lot of the stuff the author is writing about and I found a lot to take away from it. I will read it again in a year or so when my own trading style has matured some more.One gripe I have with this (and many other Kindle titles) is that there are quite a number of spelling mistakes. Maybe I am old fashioned but when you publish a book you have a bit of a responsibility to make sure it's grammatically correct and there are no spelling mistakes.

I have read this book and it is on my list to read again. While I am not a day trader, I am an avid investor and have picked up some very usefull information to enhance my daily investing activities. The book is consise, well written and easy to follow. I recommend this book to anyone who is a self taught investor, going it alone in this very volatile market.