How to Day Trade: A Detailed Guide to Day Trading Strategies, Risk Management, and Trader Psychology Kindle Edition

Trading is risky :) Ross helps you to minimize the risk in the setup and execution, and exit.

UPDATE 3/31/19When I wrote the original review, there was a lot more I wanted to say. I tried to keep it as brief and to the point as possible. But I would like to add a bigger point about day trading in general for that person who is just arriving to this and is getting ready to click the buy button. The Original Post is still below and deals with the book specifically.Day Trading, like all trading, used to take place on the trading room floor. It was exactly what you'd think it was. There was a lot of yelling and phone's were ringing and there was a lot of money to be made when a price began to rise or fall. Information traveled very slowly. When the stock market went digital, most of those early traders lost their jobs because they didn't have the technical background to adapt.Why does this matter? Because the game has changed, and the majority of people who see small gains by day trading, do so by sheer luck and it always runs out. This is why so many people focus instead on day trading classes. Allow me to explain.You're thinking that perhaps you can learn to read charts and make a few good trades a week. But those charts are digital. If you can teach yourself to react to them in 15 seconds, or maybe even 10 seconds, then just know that there's thousands of computers that are programmed to read them and they react in 1/10000th of a second, faster even. That's who you're trading against.Investment companies with huge quantities of capital hire the smartest minds they can find to create supercomputers to react to the same charts that Ross Cameron and Ricky Gutierrez swear they're reading. Not only are the computers quicker but they don't make mistakes. These computers are programmed to study and record the trends of a single stock, and they read it like a first language.Not only that, but because they have so much capital, they control the market value of whatever stock their evaluating. Think of this computers purchases and sells like a giant wave. For instance, If that computer decides to sell all 20,000 shares of a random pharmaceutical stock at once, it creates a sell-off that sends the needle crashing down. Then when it decides to buy 20,000 shares again, the needle on that small pharmaceutical stock rockets because the previous fall in price begins to plateau and the amateur day traders jump back in predicting a new rise. So you decide to buy in because you think you've read the charts correctly, but the stock is only plateauing from a dip because of a massive purchase like the one I just described, and everyone reading the charts sees it and thinks it's time to buy. But in reality the computer is waiting for the suckers to buy in, creating a greater demand, and then when it sells all of it's shares after all the suckers invested with it and the price is high and ripe for a sell off, the worth of your shares plummets. If you happen to invest once or twice like the super computer you're up against, you might win a few dollars. But the fools think they won because they're finally getting the hang of it, when really it was pure chance. They jumped in in the same direction of the wave, meaning they happened to buy when the computer was buying, and then sold when the computer was selling. But the wave is completely unpredictable, and the moment they take one step in the opposite direction of this wave, they're going to lose huge amounts in a matter of seconds.It really is a fantasy. You cannot get rich by day trading, and I can assure you that people like Ross Cameron and Ricky Gutierrez are making money through classes, advertisements, books, and partnerships, not from trading. Just ask your self, if you could make thousands a day, would you be wasting your time trying to make how to videos? It's preposterous, but a scam none the less.Original PostNot worth it. The book is a very basic introduction to about twenty core terms that anyone new to day trading will have to know. A very short introduction to candlestick charts, bull flags, exponential moving averages, etc. This is common sense entry level information dressed up as insider information for the unsuspecting newcomer. It's a business model of preying on the new kids.The delivery is very choppy, and you could never take this alone and get started. There is so much really great introductory information out there for free.These explanations are no different than what a novice might find on Investopedia.com. It isn't comprehensive and when you finish it, you're going to be right where you were when you started. It barely skims the surface of technical analysis.Ross Cameron seems more interested in selling classes and promoting what I can only assume are partnerships with Trade Ideas and a few other 'insider' subscription services.There are simply better books out there. Don't waste your money. You aren't getting an edge. You cannot buy your way into day trading. It will take a lot of hard work and dedication.

Throughout the book it’s like Ross is talking to you about the trades telling you if this, than that. At the end he writes the rules of the trade. I like his technique of teaching. There are some charts for examples, however you should study charting outside of this book before trading. You can find stocks on Finviz to chart using most of the criteria Ross uses. Then you can get a free account on TradeIdeas and chart the current market. Ross also has a free online Day Trading Guide.

This is a fair overview of day trading, but with some shortcomings. First, it was written in a hurry by the author, who obviously knew what he was talking about, but was not carefully edited. Books like this need to be reviewed by an objective reader who knows nothing about the subject and can give the author guidance as to the logical of their outline.Secondly, it needs a glossary of terms and much more annotation on the graphs and charts.PS: Read about Warrior Trading’s $3,000,000 fine from the FTC in April of 2022.

The media could not be loaded.  This book is simply transferre for you the hole information you need it about trading, it’s not complicated at all, the writer he’s the best guy in his job, I am fan for Ross on YouTube , and he’s the best guy you can learn from him, plus he’s give you the secret and tricks of the trading for free, every day in market sessions and before he shares with us his platform and the way how he buying and selling with a good soul and helpful feelings,I was subscription on YouTube for many traders instructors, but almost all of them running for money to make memberships with them, and they have this propaganda for fancy cars …. Ross he’s completely different, he shares with us the true and the real story of trading, this guy he's making Maney live everyday on his platform front of our eyes and learning how to trade.I hope some day I could be one of his students in his community.Thank you Ross

This is the best of the 10 books on day trading I've read. This really does work. Day trading is not for everyone but this is the first book I could find with a working active strategy. If you want to use this, open a paper trading account, and get up early (west-coasters) to make this work. It took me a couple weeks to find some of the patterns he talked about and due to not all studies being available on the platform I used (thinkOrSwim) it took some time. I would also recommend reading Market Wizards (the original) immediately after this. Do paper trading first. I'm currently working on automating my adapted strategy via code.

Detailed and broad, clear and intelligent. For those who want to take the chances into their own hands and prepare themselves accordingly to try and succeed in the market. For those who really want it bad.

Escrito de manera completa e inteligente fácil de entender. Un libro que me hubiera ahorrado mucho dinero si lo hubiera leído antes.

This book is a great resource for people just starting out to get an overview and learn the main concepts. It is not a replacement for additional education though.I recommend the kindle version, hardcover seems extremely expensive in comparison

I've read a lot of trading books, but this book is probably the best book for a beginner or someone wanting to start trading. Ross will teach you everything you need to know or need to have, to become a trader. Not always an easy read because of the technicalities of trading, but that is what will teach you to become a profitable trader.

That gives me real hope. There is so much crap around the internet, especially in germany i haven‘t found such good informations.