day-trading

First, I really like Mr. Tony Oz system because it is really simple. In most of the books which I've ever read (approximately 15 books.) somewhat made me weight on indicators. On the other hand, this book never talks about even an indicator.(besides Moving Averages, Bollinger Bands and Volume.)

On this book, he concentrates on Support and Resistance lines, trend lines, and Volume. He also talks about money management in very simple form and his actual setups.

I think this book is not for those who have already built thier own trading system and constantly making money in stock market, but I strongly recommend this books for beginners who want to build fundamental just like me.

And I wish I had read this book before 15 books I bought.
I could have skip 5 , 10 or even 14 books. (I would still want to read "the Master Swing Trader" by Mr Alan S Farley)

Forgot to mention, his strategy is a swing trading method holding stocks for a day to weeks.

Thank you for viewing my review.

NORI

tony oz simply shows you how he trades in one month. this is what's in the book. tony oz opens a new account for writing this book. in the next month, he recorded all his trades on this account. giving you every detail about his trade. it is like living in his mind (during trading hours only, of course...) for this month. he tells you how he chose entry and exit points, why he chose them, how he manages his trading money etc everything you need to know to trade well.

this book is about as close as you can get to understanding how to make day trading successful. assuming the author is honest in his writing here (i dont doubt him), he has just shown us how you can make money on ONLY on the long side of the market in one of the most bearish months for decades (he made some pretty decent profits!).

read this book, if only to get some inspiration!

Oz even takes you into his daily world, both psychologically and technically, and has a ton of examples of real trades with detailed explanations of why he made them, why he entered them when he did, and why he exited them when he did. He even includes some of his failed trades. There is plenty of coverage of chart patterns, including candelsticks, and what Oz considers to be the most important indicators.

I found this to be an honest and detailed look into the mind and procedures of a trader. I know he pushes some of his other services, but you really don't feel that too much from the book, although his screening parameters might make you want to subscribe to the Oz Screener if you use Real Tick. He also mentions that the screening formulas are available in his earlier books, but for some legal reason he can't print them in this one (maybe some kind of agreement with Real Tick, since the other books are out of print). He goes into detail about his screens and why he uses them. You could probably figure out the formulas without too much effort just by understanding what he's screening for.

The other thing I really enjoyed about this book was its concise nature. Oz is an excellent author. There is no filler here. He writes simply and to the point. Unlike many other authors he seems to understand that clear communication and not showing off his IQ is the goal of writing a book. For those who have read a lot of trading books you know how rare that is. Oz is a relaxing read, not a tension-filled one.

I've read a lot of trading books, but along with Elder's books this is probably the only book I've read that by itself has enough to get you started on the right track in trading.

Well, 2.5 points was a reasonable move back in 1991 (when the S&P was trading around 400). But 2.5 points is just noise today. To adjust simply divide 2.5 points by what-ever the S&P was trading at back in 1991 to get a percentage. Then multiply this percentage by today's S&P level (around 1000). This will result is something like 6.2 points. Do the same thing for your stop-loss as well.

Crabel's logic was/is sound but the research in the book should have been based on percentage moves. These are what have held reasonably stable over time.

Also, to be successful you will need to be able to track at least 75-100 stocks. Otherwise you will not get enough set-ups to maintain proper diversification. Volatile, liquid stocks obviously work best. A program like Neovest or Radarscreen (Tradestation) will be very helpful.

It's the first book that I have read that attempts to cut through the hype and mythology of trading. I now understand why so many new traders fail and give up in a short time. Many fail to use proper risk management,and a large percentage have inadequate education in trading strategies and methods.

After reading Day Trading on the Edge I am able to determine if trading is right for me, and am able to proceed with greater knowledge and confidence. It's a great resource for anyone that isn't sure where to start.

The actual process of choosing an online broker or finding a useful website can be quite an ordeal searching directly on the Internet so this book is a good starting point. I imagine that these sections need to be updated every 2 years or so because they will be prone to rapid change while the Internet is a new medium.

Technical analysis is at least introduced but the new trading strategies given are not explained well enough even for experienced technical analysts. They'll certainly be of more harm than good to novices. These strategies seem hurriedly written - they lack detail and charts were incorrectly numbered and sometimes inappropriate.

The remainder of the book has little to offer the relatively experienced trader who would need more detail if any at all in the above mentioned topics. However, they are introduced well and are valuable for novice traders. There are lots of insightful passages taken from bulletin boards and interviews with professionals.

There are many charts which take up half of the book, but since most of the time the chart being referenced in the text is on another page, it's a hassle to jump back and forth. The writing style could cure insomnia.

As in Larry Williams' daytrading book, this book would have benefitted greatly by inclusion of Performance Reports with Profit Factors, ROI, consecutive losers and the like. In fairness to the author, he provides the results of all trades in a month period for the different time periods (1-minute through 60-minutes) for various futures including the DM. These could have been enhanced with profit targets, it was surprising to see better than potential $1000+ trades allowed to turn into losers.

Once the single system was explained, the various futures could have been presented with 1 time frame Performance Report and the best value, on successive pages.

Unfortunately since Barnes limited himself to 1 month of trades, there is insufficient information on those time frames greater than 1 or 5 minute charts, to determine the validity of the system. One needs a minimum of 30 samples and in many instances there are only 3 trades for the time period presented.

Better editing would have enhanced the value of this book in making it more comprehensible and capable of the system being confirmed as being viable.

I do like Rudd's style, he gets straight to the point with his pattern setups with very simple (sometimes vague) explanations. He uses typical TA that we already know - support, resistance, price targets, open, close, high, gap resistances. Nothing particularly special for an informed trader. I can't say this is a bad book, the price is reasonable compared to a Joe Ross book and a trader may pick up a thing or two that he isn't aware of.

Part of my enthusiasm for Barry's book has to do with my trading results before & after reading his book. Because his book was more expensive than others available I purchased some of the less expensive, introductory, daytrading books. I started trading & over about 7 months lost approximately $7,000. In the past 5 months (since purchasing Barry's book) I have become more patient waiting for the correct chart formations & have become a profitable, part-time daytrader. The $7,000 loss I had 5 months ago has turned around and become a $53,000 gain.

Some of this turnaround is naturally a result of my maturation as a trader. Everyone writes about having to pay one's dues, so to speak, to get an education in daytrading. I certainly did. However, if I could pinpoint THE major turnaround in my trading activities, it would have to do with reading Barry's book.

Can I give this book six stars?

This book, like Barry's first book, contains no fluff. There are no wasted words. Barry concisely gets to the heart of the points he is making.

I own approximately 10 books on daytrading. After trading approximately 1 year the only two books I go back to to consolidate/refresh/ingrain ideas are Barry's books.

Sorry Barry. The rating system only goes up to 5 stars. I'd give this book a 6 star rating also.

These two colorful hustlers with a knack for self-promotion and disregard for ethics are the most interesting aspect of the book. But there is far too much space devoted to fluff that was barely interesting at the time (Big Dog's single-digit IQ, Janice Shell's recipes...) and is not worth preserving in print.

And there's no mention of any of the good guys, people with integrity who share investment insights online - yes, they are hard to find, but they do exist! I've been a member of Silicon Investor since 1996, I watched most of what is described in this book as it happened, plus a whole lot more. I got a true investment education from what I read there, but none of my "teachers" is mentioned in this book.

And where are the little guys who lose money by buying when Tokyo Mex and Big Dog are selling? I'd like to hear their stories.

There is a moral to the story, Emshwiller does make it clear how the internet is a boon to the sleazy side of the capital markets, and how the SEC is strangely unwilling to devote more than token resources to clean up the dirt. But I doubt many people will hurl this book down in outrage and call their congressman.

Imagine, if you will, a bright-eyed diarist among the tulip traders of 17th century Holland, a long-lived Samuel Pepys privy to the shenanigans of the South Sea Bubble, or a wit among the Wall Street brokerages as mining stocks soared and crashed in the 1890's. That's the role Emshwiller fills here with the story of some of the most influential (and colorful) characters to the new Internet trading world.

Scam Dogs isn't an all-encompassing or definitive tale of the boom market of the 1990's--that has yet to be written. It isn't about billions sloshing in the Ciscos, Intels, and Microsofts or the fortunes flushed down to cockamamy dot.coms. It's brilliant marginalia, a richly-described world of trade in stocks that are often meaningless at best or fraudulent at worst by figures far beyond the core of Wall Street. These are "marginal men" (and women) who first grabbed and understood the trading implications of the Internet precisely because they lacked the levers that established investment dealers possessed. These were the elves dancing at the leading edge, and, unlike a Salomon or Goldman Sachs swinging weight in a T-bill auction, these tiny folk can individually or in concert can kite or tank only the most rinky-dink of stocks. Such is often the unseemly stuff of revolutions. It is a revolution that government was and still is slow to grasp, as Emshwiller portrays with rich annecdote and history at the SEC. That slow grasp has meaning for us all.

Emshwiller, a writer for the staid Wall Street Journal, seems to have a natural wit and an eye for stories that often doesn't make it beyond a newsroom water cooler. He's unafraid to include himself in the tale, to admit that after a night of drinking with a trader he "wouldn't want to drive the bar stool I was sitting on," and that he was endlessly tempted by the possibility of making money from Internet trading, the very same greed and gull that drove what he was writing about.

There's wonderful material here that lies on the cutting room of too many first-rate financial journalists. Here is not just the first, easily-grasped annecdote, nor the second. But the third and fourth more subtle tale of TokyoMex in full throes of an emotional speech in which he tells fans and fellow traders "don't be schmucks," or of 400-pound fat man "Big Dog" complaining that though he is worth millions on paper at the moment, "I have no structure in my life," or of the protection-minded short-seller's guard dog who "is either having a very tense morning or appears ready to pounce," or of an ltalian Renaissance scholar and prolific poster bragging of "perfect Eric," her cleaning man from Sri Lanka that "I do have to hide my pantyhose after they're washed or he'll iron them, but that's his only fault." Such is daily life in this revolution.

This is wit and insight of a rare sort. To lodge a complaint or so of Scam Dogs: its extracts of sometimes-funny-but-inane emails are occasionally overly protracted; I'd like to have seen earlier some exploration of regulatory disinterest or neglect of Internet touting and trading (Emshwiller does it with great anecdotal familiarity mid-book and then thematically at the end.) And I'd happily have opted for a slightly more elaborate setting of the rocketing market for real-life Intels and Microsofts with real-life balance sheets making possible the fanciful dreams of undiscovered riches from companies most of us--thank heavens--have never heard of. But setting these complaints aside, I found Scam Dogs a brilliant read, a penetrating analysis, and a likely classic look at the era.

Peter Quintle, New York

As expected, the swing trading book was well written and organized and easy to understand. Again, all book illustrations were sharp and professionally done. The author expanded the material to include additional technical analysis tools and trading alerts for short-term traders, as well as the new material on fundamental stock analysis and IPOs. Everything seems to be there-- from trade order executions to tax considerations. There is a lot of good stock information packed in the book for both the stock market beginners as well as the seasoned traders. For instance, the book included an appendix with the list of the best swing trading stocks in 2000.

Most importantly, the author moved the focus of the book closer to the investment center. The book now presents valuable trading information that appeals both to active investors, that might hold the stock position for a few weeks or days, and active day traders, who might hold the stock position for a couple of hours or minutes.

I particularly liked the author's objectivity and honesty. The author wrote a responsible book. The author did not succumb to temptations of becoming the industry promoter. This is clearly not one of those "how to get rich quick" books. The risks of swing trading were well disclosed, as well as the tools for managing such risks. I do recommend this book for anyone active in the stock market without any reservations.

I like the book a lot because it was an honest introduction to short term stock trading. The book did not contain any hype or promises of returns or road map to fortunes. All of the trading risks in specualting on the stock price movements were disclosed upfront. Most importantly, the tools to manage such risk were introduced.

Secondly, the book has more than 400 pages of stock trading information and so the book is complete. In my opinion, all of the trading information, from technical and fundamental analysis to Level II screen, was systematically presented in an easy to understand language. The book was also well organized and well illustrated so it was easy to read.

In short, this book is one of the most complete introductory texts to stock trading that I have read. I particularly recommend the book to novice stock traders, although experienced traders will also benefit by reading it.