The Strategic Electronic Day Trader

Description

WILEY ONLINE TRADING FOR A LIVING MASTER MOMENTUM TRADING AND PROFIT FROM THE TREND! Where are you in the markets food chain? Youve decided to take the plunge and pursue todays most popular and sophisticated trading method—computerized electronic day trading. With a click of a mouse the market is at your disposal. You are now on the same playing field as the very best professional traders in the world. You feel invincible. You are as good as they are and you are going to show the world. Within hours you could be as rich as the pros. Or you could lose your shirt. Without the proper training and mental preparation, the great equalizing power of your computer is dangerously seductive. Even if youre a talented entrepreneur, in the highly specialized, fast-moving world of electronic trading, your past success means very little. But this realization is your first step toward becoming a winner. You must learn new strategies and mentally prepare yourself for this hi-tech arena of profit and loss. In The Strategic Electronic Day Trader, professional trader Robert Deel shows you how to survive and profit in electronic day trading. This invaluable book addresses the variety of questions and hazardous-to-your-wealth misconceptions about day trading—and reveals the strategies and mental conditioning secrets of the successful minority. Identifying what type of trader you are and adopting the right mind-set before you start trading will give you the crucial advantage over the competition—and save you a fortune in uncontrolled losses. Find out if youre best suited to day trading, micro trend trading, or position trend trading. Along with an in-depth look at the mechanics of electronic trading strategies, Deel shares his revolutionary approach to developing the emotional control and psychological preparation to get you in the game—and keep you there. WHY MOST DAY TRADERS FAIL HOW YOU CAN SUCCEED Can you imagine entering a marathon without conditioning, competing against the best in the world—and expecting to win? What about starting a business without a business plan? Yet this is exactly what most first-time traders do, and why many dont suceed. To be a success in the technologically sophisticated, competitive arena of computerized electronic day trading, your strategy needs to be specific to your ability. From strategy and shorting to sleeping and de-stressing, The Strategic Electronic Day Trader will prepare you to fulfill your dream of making a living trading the market. Learn how to:Profit from seven extremely successful short-term trading strategiesIdentify three to five high probability/profitability trades per dayScreen for momentum acceleration pointsShort intradayUnderstand the mathematics of trading and commissionsLeverage the strengths of your trading personalityAvoid the traders trap of large, uncontrolled losses "The most comprehensive manual available for those interested in learning basic principles of short-term electronic trading. Offers sound strategies for combining technical signals with fundamental analysis at the same time paying attention to the psycholgical traps that ensnare traders. A must read for novice and experienced traders." —Ari Kiev, author, Trading to Win: The Psychology of Mastering the Markets