day-trading

I bought this book but it only contains outdated information.e.g on computers that should be used. The book is not true to its title of how to start day trading. Junk info like getting internet connection, comfortable chair etc are frustrating. Basic info like defining trading terms like t & f analysis, what are options & futures can be gleaned from anywhere free of charge. It is unwise to spend money on this book. If one just asks people on the message boards he will get the info free of charge.

This is in response to the first review of this book, written Nov 13, 2000 - The book came out Oct 27, 2000, right? And you were given this book by a 'veteran trader'? So, in 17 days, this 'veteran' trader read this book, it changed his life, and then he passed it along to you, and you read it too? C'mon. Obviously this review was written by the publisher or author(s). I, however, have read this book. But I can say this much. This book is more geared to the beginner, and as such it is very dangerous to recommend that a beginner day-trade futures and options. This book should not be used as the basis for actually getting into any sort of day trading.

Recently, a friend--a veteran trader--gave me a gift he said would help me--a novice--further my education. The gift consisted of two books: Oz' "The Stock Trader" and Katz and McCormick's "How to Start Day Trading Futures, Options, and Indices." As far as I'm concerned, these two books complement one another perfectly. One provides insight through example and the other provides basic knowledge and procedure. These books have not only helped me improve my trading and money management skills, but my appreciation of the nuances of the game.

I am amazed that the observations the author makes are even worthy the paper they are printed upon. Ther were no starling revelations and the few ideas that were off handedly mentioned and treated as original were merely the smae as those espused by others only more effectively, clearly and earlier than this author. I lament that I even oiffered this author an opportunity to oresent to an audience in Chucago who were basically to hear me speak and the author was a secondary on the program. I am emarrassed for the author.

I realize this book was written in 1986 before the advent of computerized charting.. thus the only reason it wasn't a 1 star. Weintraub magically calculates the pivot, R1, R2, S1, S2 numbers without ever mentioning that they were floor pivots and seemingly takes credit for their value. He then uses a moving average based on average price on 20 min bars for "Day 1" , and then a continued moving average for "Day 1 + Day 2". When Day 1 approaches or crosses Day 2's MA .. then you look to trade. This is where it becomes vague, as you are somehow supposed to determine market direction from these lines and their relation to the floor pivot levels. Sure, somebody might find this useful and figure out some patterns.. but this is going to be useless trading information for most.

I know Neal Weintraub. I took one of his classes at the Chicago Mercantile Exchange. I used to be on the floor of the Chicago Board of Trade and have now become a professional trader off the floor. Daytrading can be a killer for most people because it increases the opportunities. If your doing something you shouldn't be doing you'll lose money a lot faster daytrading. If your following all the rules then daytrading can definitely help you increase your profits. It takes a lot of discipline. I would reccomend reading Trade Your Way to Financial Freedom to understand about exits and position sizing. Most people concentrate on entry which is wrong. I can make money flipping a coin and being right half the time. I play a trend following system which makes me wrong more often than not but when I'm right--It pays for all the losses and makes for some real big gains. This book may open your mind to some new ideas and I reccomend it.

I had rated the author's first book "Trading rules: Strategies for success" with 5 stars. I never expected such a frustration with this book.

Perhaps the trader did try to make this book as a day trader's manual by including everything he deemed fit into a 322 page book: trading psychology, rules drawn from his own experience, chaos theory and in particular many TA tools like Market Profile, Elliot Wave, Gann Fan, RSI, Stochastics and so on. He then used nearly 40% of the book in 14 cases to elaborate those tools. The problem is, though I believe it's the intent of the author to make the book as concise as possible, it's simply impossible for most, even some professionals, to grasp the usage of the aforesaid TA tools. Even worse, the cases just did not help at all.

In a word, a big disappointment for this one and I suggest those who would like to give the author a try to bet on his first book "Trading Rules: Strategies for success".

I returned this book primarily because it is fairly dated, given the technical advances in electronic trading since the publication date of 1993. I am a fairly active trader and have an earned doctorate in physics; Mr. Eng's discussions of Chaos, Entropy and Randomness left me with the suspicion that scientific buzzwords are employed to justify the empirical ideas of chart analysis. Friedfertig and West's 1998 book, The Electronic Day Trader, is a far more useful and current title.

I haven't been really able to use any of the things in this book for my personal trading. However, there is one thing that I find helpful, that is the table on page 30 & 31 which gives you a run down of the popular indicators and their deficiencies.

There is nothing in this book, just some Q & A.
I am requesting every one, please do not put your money in the water by purchasing this book(all edition).
I have rate it 1 star, but if there is any negative number I would have rate it -100.

This book is:v poorly printed; has almost unreadable charts; and only one good idea worth paying for.

Buy it used or skip it.

The quality of the printing is either an embarrassment or an insult. If you have "unresolved issues" you may want to pay full price for this very skinny volume; be my guest.

The whole book is just a few pages with charts displaying trendlines and stochastics. The author shows us how he uses these trendlines. All this had been available for a century in all other books, and now is available for free on internet.

For the price I was hoping I would find some gems and save some time. What I received was a 51 page "book" that looks similar to something an 8th grader could produce and write with a home computer/printer. Mr. Ingram offers, "ANY STOCK WHICH HAS A CONSECUTIVE THREE DAY DOWNWARD MOVE, ON THE FOURTH DAY IS A MUST BUY." That sums it up...go to Vegas and wait for red or black to come up three times, etc. Maybe 1/4 of 1 good idea is contained. Very overpriced.