How To Day Trade Stocks For Profit

I was very familiar with functional analyses for buying stocks long term, but I had no experience in day trading or technical analyses. I bought this book and studied it thoroughly for about a month. He explains everything very well and the chapters are grouped in a logical order, with the understanding of later material dependent on mastering earlier material, much like a university course would be. The concepts were all new to me and he explained them well and gave excellent examples. PROS: I really like that there are exercises in the back of the book to help you see the trends and the concepts better. I recommend you study them well. CONS: There were a few typos and the many graphs were in grayscale -- yet he refers to the lines in the graphs by color, which you cannot see, so you do lose some understanding there. I am using his process, following his rules, his suggested daily schedule, and I am "fake trading" now -- doing the whole process and seeing how it works before I invest real money. It is building my skills and confidence. I am pretending I am investing $30K a day and making 5 small trades a day on the NASDAQ. My smallest daily profit was $250, my biggest over $1200 -- I have not had any losing days (but I am still a novice and those days will come). I keep my stop losses at 1% so I am not losing much. The hardest part for me is finding stocks that trend, as only about 1/5 of stocks trend on any one day, but he recommends building a stock list over time, which I am doing. The important thing is that after two weeks I am averaging being correct on my choices and trends by about 70% -- and I haven't even chosen a real broker or software yet, so I expect I will do better once I can see all the chart details better than I can on Etrade, which is not designed for daytraders. This book will help you to learn how to see various trends, and if you follow his rules, you will probably do okay. I am recommending this book to many friends; they are enjoying it and getting excited about day trading.

This is the second book I read beginning my financial book marathon (yea... I thought it's finally a good time to reevaluate my financial lifestyle). I know that stocks have amazing potential for growth and thought it might be good to learn about the market through reading about it first. I think this book was a good start, but it's a little boring at times. It's definitely something you have to read in small chunks in order to fully grasp the ideas and methods that are recommended. I think the ideas in the book were fairly straight forward and gave me a good idea of how the stock market works and the potential growth if I begin to invest. If you're buying the book in hopes that there will be some recommended websites or brokers, this one won't help you at all. Considering the price and information I would recommend this book!

Harvey Walsh is a great man for writing this book. It's probably overlooked due to the simplicity. I can say that I've followed his advice on two trades since reading and have sold in the money. This book can be read in a weekend and lays out a system that can be followed for life. He shuns fancy oscillators and indicators. Instead he opts for teaching a few simple patterns, support and resistance, timing, and protecting your nut. I'd have to say the most helpful part of this book are the exercises where Harvey has you first identify the patterns and where the entry and exits points would be. Later in the advanced exercises he gives you a few minutes of a chart and then has you analyze it for patterns and trends. Then he reveals the rest of the chart to see if your assessment was correct and if the setup was good. This is one of the most enlightening and practical exercises I've ever done and was well worth the money spent. The only downside to this book is I felt it was too short and it left me wanting to learn more. After applying the lessons in the market I realized this perceived weakness was its strength. It helps you tune out all of the unneeded PR crap that is thrown at you by so called stock market gurus. It cuts to the core and lays out a foundation on which you can indeed begin day trading for profit.

In this book, Harvey doesn't claim to have found the Holy Grail trading strategy that works every time without fail. Instead, Harvey outlines the exact strategy that he uses successfully in an easy to read and understand format. He preaches keeping things simple and putting in the work required to profit from the markets daily. Anyone who has ever traded knows that there is no system that works 100% of the time with little to no effort needed. Harvey discusses controlling emotions, staying disciplined, and not over-complicating your trading strategy. With numerous examples with detailed explanations, he walks you through exactly how he enters and exits trades. You can also look up his YouTube page and watch him use this exact strategy successfully on multiple videos. For $10, this book is an absolute steal!

I've been a swing trader and longer term trader for 30 years but recently decided to learn day trading. I read many books on the subject. Harvey Walsh's book is the best of the group. He gives simple well written instructions on a manageable number of techniques and goes into actual examples of how to day trade. I particularly like his approach of using the price action itself to learn how to trade and not indicators which can tend to lose effectiveness over time. The last part of the book gives the reader snap shots of trading scenarios before the action plays out. The reader makes the call on what trades and stops to make. This was very helpful and not something I saw in other books. Thank you Harvey for a terrific effort on this book!

I liked quite a lot reading the book. It gave a good summary on topics usually you can find on hundred of pages nonetheless dealing with all important parts. The strategy he is explaining seems to work out well but honestly it is mainly developped for people in the US. Outside it is more difficult to be applied (especially with US stocks). But I enjoyed reading the book page by page and to my opinion it is for any level of experience. I think that even a pro will find some information he has not heard about before.

Very well written book and enjoyed learning the different strategies presented. Certainly has helped the way I trade the equities market now.

Easy to read, and very simple to understand how work with the money to traders. I'm gonna trade the stocks for profit.

I like Harvey's style, clear and easy to read which are very important when you are approaching a new subject, specially a "temperamental" one like trading. Although I have moved on with my trading and use a completely different method in my trading activities, this is a great little book for someone just starting out. The Kindle version also looks great on my ipod and kindle pc running on wine and linux. It's worth every penny for the newbie (and I mean this in a nice way)

I must say this book is the macro day trading book with other books micro trading techniques.