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Day Trading For Dummies, 3rd Edition


  • Get started with an action plan
  • Avoid day-trading pitfalls
  • Position yourself for trading success

Start day trading today with this hands-on guide to mastering the markets

This plain-English guide shows you how day trading works, identifies its all-too-numerous pitfalls, and gets you started with an action plan. From classic and renegade strategies to the nitty-gritty of daily trading practices, it gives you the knowledge and confidence you need to keep a cool head, manage risk, and make decisions instantly as you buy and sell your positions.

  • Understand day trading — discover the fundamentals of day trading, from what it is to how it works
  • Start strategizing — get all the facts on the different strategies and research techniques day traders use to determine how and when to buy and sell their positions
  • Pick up the tools of the trade — find out how to set up your office to improve your response times, choose the support services you need to research trades, and get through a treacherous trading day with your sanity intact
  • Get down to the nitty gritty — grasp the day-to-day “stuff” that separates day trading from other types of trading, like paying taxes on your gains, measuring your daily trading performance, and much more
  • Move beyond stocks — find out how to trade in commodities and derivatives, among other more exotic trades

Open the book and find:

  • Market indicators and day trading strategies
  • Advice on how to manage money and your positions
  • Key characteristics of successful day traders
  • Guidance on understanding risk and return
  • How to differentiate trading, investing, and gambling
  • A look at rules and regulations
  • Research techniques used in day trading
  • Tips for managing stress in the trading day

Ann C. Logue, MBA, has more than a dozen years of experience working in financial services and has taught business administration at the University of Illinois. She is a finance writer who has written numerous articles on investment and has edited publications on equity trading and risk management.

Introduction  1

Part I: Getting Started with Day Trading  5

Chapter 1: So You Want to Be a Day Trader 7

Chapter 2: Planning to Succeed As a Day Trader 23

Chapter 3: Deciding What to Trade and How to Trade It 45

Chapter 4: Defining Trading: Risk, Reward, and Timing 69

Chapter 5: Regulation and the Modern Trader 81

Part II: Exploring Popular Day-Trading Strategies  97

Chapter 6: Managing Your Money and Positions 99

Chapter 7: Technical Analysis 101 115

Chapter 8: Following Market Indicators and Tried-and-True Day-Trading Strategies 137

Chapter 9: Increasing Risk and Potential Return with Short Selling and Leverage 161

Chapter 10: Looking for Easy Profits: Navigating the Tricky World of Arbitrage and High-Frequency Trading 177

Chapter 11: All About Accounts 191

Part III: Necessities and Niceties for Successful Day Trading  205

Chapter 12: Equipping to Day Trade 207

Chapter 13: Researching Research Services 215

Chapter 14: Stress Management in the Trading Day 231

Chapter 15: Taxes for Traders 243

Chapter 16: But Did You Make Money? Testing, Tracking, and Evaluating Performance 263

Chapter 17: Day Trading for Investors 283

Part IV: The Part of Tens  295

Chapter 18: Ten Good Reasons to Day Trade 297

Chapter 19: Ten or So Good Reasons to Avoid Day Trading 303

Chapter 20: Ten Common Day-Trading Mistakes 309

Chapter 21: Ten Tested Money-Management Techniques 315

Appendix: Additional Resources for Day Traders  321

Index  329