The Day Trader's Survival Guide: How to Be Consistently Profitable in Short-Term Markets

Amazon.com

Read with horror as author Christopher Farrell pulls back the curtain to expose how market makers and specialists manipulate stocks to fleece traders and investors. Then follow as he shows how you can turn the tables to work the markets to your own advantage. "If you approach day trading the same way that you approach investing, you are sure to lose money," Farrell warns in The Day Trader's Survival Guide."One of the early mistakes that novice traders make is that they get caught up in the hype of the online trading revolution. Just because you can get a trade executed in a second with the click of a mouse, does not mean that you are on a level playing field with the rest of Wall Street. Remember, all of Wall Street is out to take your money."

Rampant market manipulation is the order of the day, and it puts traders and investors at great disadvantage. Quoted markets that are not what they seem, hidden orders, head fakes, and other deceptions are described and illustrated in detail in this guide for traders with at least some experience. It's a kill-or-be-killed market, and Farrell shows how traders can side with the pros, game the spread, profit in illiquid issues, and find arbitrage opportunities. Market makers armed with the profit motive have the means and the opportunity to annihilate starry-eyed new arrivals daily. This book shows exactly how they do it--and what it takes to outmaneuver them. It's a must-read for any trader who has the will to survive. --Scott Harrison

Book Description

Why does a stock like Juniper move 25 points in a single day white Microsoft never does? Why is Rambus a great stock for day traders, whereas Delland Cisco aren't? Why is the NYSE sometimes an easier market to trade in than NASDAQ, and why are executions usually better? And, last but not least, what do the three out of ten day traders who are consistently making money know that the seven who are losing money don't? These are the types of questions The Day Trader's Survival Guide answers. This book will teach you how to beat Wall Street at its own game. An unwary day trader can get steamrolled by large brokerage firms that have the power to move markets on a whim. The Day Trader's Survival Guide outlines the smartest ways to ride in the wake of "big money" and be profitable.

In addition to presenting cutting-edge strategies that have never been introduced to the general public, The Day Trader's Survival Guide exposes the "dark side" of day trading, including a took at how Wall Street manipulates stock prices, why the NASDAQ market is unfair to the investing public, and why so many day traders ultimately lose money.

Customer Reviews:

Good introduction to the day trading mentality.......2007-09-28

First book I read on day trading, explains the games other traders are playing to help you identify what is happening in a stock as you watch it intraday.
Very insightful on institutional price manipulation, how we as the little fish can get on the right side of the smart money and swim with them to quick profits.
Good info not commonly shared or explained as well as this.

Honest.......2007-07-24

This book is honest, that's why I give it five stars. Unless the basic principle of Farrell's trading, the ability to get in front of the market makers, changed, the principles of this book should stand. The fact that the book is boring and unexciting indicates to me that the author is a trader, not marketer of his trading system.

Most exciting approaches in trading don't work. Good trading is boring (and often frustrating). So is trading approach described in this book. You are advised to trade static, non-moving stocks and make money on the double, joining the market makers. That's it. This strategy allows good risk control. And instead of day trading this method (I think) may be used for low maintenance trading too.

This method is not based on technical analysis, the feeding pot for many authors writing trading books. No new indicators or just discovered rules. Totally different approach. That's why it may work.

A Few Trading Tips.......2006-07-19

This book was very good back in it's day. I think the author should publish a revized edition with more up to date strategies.

When trading short term one needs to realize that the stock market can present us with a lot of hot stocks every day.

Most of them may seem promising, but the truth is that a good number of these trading & investing opportunities might not be as profitable as one might think. That's why it's very important to know how to choose them especially if you plan to take advantage of them on a daily or weekly basis.

One site that I recommend is MomentumStockTrading com. They have a pretty clear way for trading hot stocks with momentum using easy to understand strategies. This is also a place where you can learn why knowing how to manage the stock rally is critical to your success.

Beware of superbookdeals seller.......2006-06-19

If you want to buy the book, go ahead, just be careful of superbookdeals, they take your money but don't deliver and don't answer emails. Caveat Emptor.

Outdated for sure, but not worthless.......2006-06-02

The first thing I look at when I pick up a trading book is when it was published. Pick this one up--"Copyright 2000." That immediately sets off a siren in my head, and warns me to take everything in the book with a substantial amount of salt. Anyone can write a book on how to successfully invest in a market where everything is hot--if you don't believe me, do a search of real estate investment books and see how many of them are older than the current boom. When everyone's an expert--well, just be careful. Couple that with the fact that this guy's website is gone--I've read up a little on him and it would appear he's no longer trading--and caution is definitely warranted.

That having been said, I was able to glean from this work some important information, and certainly picked up a couple tidbits that I've found useful. This was one of the first daytrading books I ever read, and I think it has its merits for a strict novice. Farrell's sections on NASDAQ level II were insightful as were his thoughts on trading NASDAQ vs. NYSE stocks. His rants on the evil nature of "market makers" and how they're out to get individual daytraders is probably overblown but certainly worth thinking about. And though most of us will never move the kind of capital around required to "scalp trade" (meaning you trade a huge position and hope for a razor-thin margin), I found the technique interesting.

In short, I wouldn't use this book as a basis for a trading strategy, and would keep in mind the fact that most of these techniques are outdated. Look, for example, at the other reviews of this book--the most recent ones rate this book much lower than those written in the heyday era (or even shortly after). I do believe, though, in assimilating useful information wherever it is found, and that having been said I'd recommend this book for a casual read, not to be taken too seriously and keeping in mind that the value of the author's opinions are very limited. If anything, view it as a daytrading history lesson, and learn from the mistakes of the past.

The Trader's Tax Survival Guide (Wiley Trading)

Average customer rating:

Dishonest Title
Misleading title
Too One Track and aggressive in perspective
Save your money
A must have book for traders

The Trader's Tax Survival Guide (Wiley Trading)
Ted Tesser
Manufacturer: John Wiley & Sons Inc
ProductGroup: Book
Binding: Hardcover

General | Popular Economics | Business & Investing | Subjects | Books

General | Business & Investing | Subjects | Books

General | Taxation | Law | Subjects | Books

ASIN: 0471179655

Book Description

For the highest possible return on your investments The Trader's Tax Survival Guide. Now in a newly revised and expanded edition! "If I wrote that I was going to review a book that defines a 'substantial element of pleasure,' you would probably never guess it was about taxes. But then you haven't seen Ted Tesser's The Trader's Tax Survival Guide." --Stanley W. Angrist, The Wall Street Journal. "...covers the basics in a very entertaining manner. . . . If you weren't aware that your trading may be considered a business and that this status carries certain tax benefits, the Survival Guide's chapter on these topics may be just the ticket to get you started. The book would also be a good refresher on organizing your life in a tax-smart way. The least you'd get from the Survival Guide would be a good read and more than a few wry chuckles." --John Sweeney, Technical Editor, Technical Analysis of Stocks & Commodities. "Every stock and commodity trader should have Ted Tesser's book. Trader or not, The Tax Survival Guide is packed with as much vital tax information and strategies as the stadium on Superbowl Sunday. But there's more, Ted also explains how you can arrive at the status of a Trader for the IRS, thus being able to write off and save many $..." --Larry Williams, Commodity Timing Newsletter, author, McMillan on Options.

Customer Reviews:

Dishonest Title.......2000-01-03

A high priced disappointment. That sums it up for me. If the title had been The Investor's Tax Survival Guide, it would have been worth a rating of three to four. However, as a trader, I found myself wading through page after page of irrelevant information. I found much better information free on the internet specifically aimed at traders.

Misleading title.......1999-02-21

Unfortunately, the title of this book has little to do with its content. If you're looking for nitty gritty details on tax strategies for active stock traders, you'll be disappointed to find only one chapter that comes close.

Tesser provides useful tax advice for the general taxpayer, which makes me wonder why he did not call the book something like, "Beating the IRS After Tax Reform." Odds are the publisher wanted to take advantage of the boom in daytrading and online brokerages.

Too One Track and aggressive in perspective.......1999-01-21

This book gives a unique point of view so, it does not duplicate what you can get in other tax books. It advocates you try to qualify for 'Trader Status', and there are several Supreme Court tax cases concerning this difficult to qualify status. This status means that your TRADE as a serious business, hold postions for generally less than a month. All your expenses become fully deductable on Schedule C, HOWEVER you lose Capital Gain treatment AND must pay Social Security and Medicare taxes on your Self Employment income but you can set up a pension plan and/or SEP IRA. I think there is too great a danger of a nasty IRS audit, and not enough taxes saved. A difficult route for a Futures Trader, nearly impossible for a Stock trader except for some SOES traders.

Save your money.......1999-01-21

One would be better served by spending the money on a visit to a tax investment professional. The book may help with general tax guidelines. It is not a how to guide nor did the author intend to be. It is written in an entertaining fashion and that is why I'm giving it the second star.

A must have book for traders.......1998-12-08

It's hard to write a book for everyone, but Ted Tesser's book comes close. Basic tax and investment strategies are explained as well as concepts and tax tips that even a tax professional might miss.

I found the book enjoyable to read, totally unlike many of its genre. It is written in a very amusing fashion and the liberal use of anecdotes makes it even more entertaining. It is hard to believe that a book this informative could be so much fun to read.

The chapter on " This Business Of Trading" alone is worth the price of admission. Being a "trader" has numerous advantages over being an "investor" and this chapter shows you how to create a Trading Business. It clearly spelled out the differences between a "market maker", "investor", and "trader" and showed how one can graduate to a trader status (with the its many tax credits) from an investor. It is possible that making this switch could save thousands of dollars.

The amount of money you keep is more important than the amount of money you earn and Tesser makes this abundantly clear. The sections on retirement and estate planning are extremely useful.

Tesser is aggressive in his approach with the IRS and you may not feel comfortable with all of the deductions that you are entitled to. Checklists and worksheets make it easier for you to choose your comfort level.

I strongly recommend this book for both the beginner and advanced investor (trader) alike.

Average customer rating:
Survival Guide for New Futures Traders (and those making a fresh start)
Jr. Bruce Babcock
Manufacturer: Commodity Traders Consumer Report
ProductGroup: Book
Binding: Paperback

General | Business & Investing | Subjects | Books
ASIN: B000P99BZQ

Average customer rating:
Survival Guide for Traders: How to Set-Up and Organize Your Trading Business
Bennett A. McDowell
Manufacturer: Traders Coach Pr
ProductGroup: Book
Binding: Spiral-bound

General | Business & Investing | Subjects | Books
Management | Management & Leadership | Business & Investing | Subjects | Books
ASIN: 0970338732

Average customer rating:
Trader's Tax Survival Guide
Ted Tesser
Manufacturer: John Wiley
ProductGroup: Book
Binding: Hardcover
ASIN: B000O5YI36

Average customer rating:
The Day Trader's Survival Guide: How to Be Consistently Profitable in the Short-Term Markets
Christopher Farrell
Manufacturer: Collins
ProductGroup: Book
Binding: Paperback
ASIN: B000OFGXF2

Average customer rating:

Clear & Concise

AUTHOR'S RESPONSE

Not worth it

Save Your Money

The Survival Guide for Traders by Bennett Mcdowell

The Survival Guide For Traders
Bennett A. McDowell
Manufacturer: Traders Coach Pr
ProductGroup: Book
Binding: Spiral-bound

General | Business & Investing | Subjects | Books
General | Investing | Business & Investing | Subjects | Books
General | Reference | Business & Investing | Subjects | Books
General | Reference | Subjects | Books
ASIN: 0970338708

Book Description

"The Survival Guide for Traders" is divided into ten color-coded sections. The sections include: trading business plan, education, business and office set-up, and seven more information filled sections. This is a great guide for anyone interested in trading who doesn't want to waste time and money on unnecessary trading "stuff". This guidebook will teach you and lead you to the trading tools you need to be successful.

Customer Reviews:

Clear & Concise.......2004-05-19

I liked the Survival Guide For Traders very much. It was fun to read and offered many helpful concepts geared towards limiting trading risk. It also helped me to develop a business plan for my trading.

AUTHOR'S RESPONSE.......2003-10-17

I have just read some of the derogatory reviews of my book and find them not inline with many other reviews I have personally received. As stated, the title of my book is "The Survival Guide For Traders - How to Set Up and Organize Your Trading Business" and the purpose of this book is not intended to teach the reader how to trade or provide intellectually stimulating and thought provoking questions to ponder as some reviewers were so surprised to see missing. Instead the book's purpose is to introduce the new trader to the fact that successful trading involves sufficient risk capitol, money management, a business plan, trading skills, and practice before actually trading with real money. We introduce the benefits of money management, skill building, calculating your risk, and many helpful tips. To summarize, the purpose of this book is not to present sophisticated trading techniques, but to instead try and reduce the number of new traders from "losing their shirt" due to the seduction of the illusion of "easy money" to be made in the markets. From the testimonials we have received personally, this book has been helpful and successful to many traders.

Not worth it.......2003-05-12

Although I greatly respect the author, I can say that this book doesn't bring anything new to the table. It just outlines what is required and could have been much more complete, he at least should have included a complete business plan and not just the suggestions of what should be in it, it could be so much better than it is, and I also don't like how he says you have to buy his course in order to get more information. I don't mind a person suggesting his products because I do think that his course is well worth considering but you should make the book complete by presenting everything completely, at least I can say in Bill Williams book "New Trading Dimensions" that it was complete and you had the option of taking his course. But again I will say that the course he offers on his web site is worth it since it helps you deal with the complete picture of what it takes to trade but this book which costs a lot of money isn't

Save Your Money.......2002-12-31

This is an incomplete guide. It is more like an outline that was never completed. If this were turned into for a grade in school it would rate an F. It is not focused, does not answer any questions, nor raise any pertinent issues.

The Survival Guide for Traders by Bennett Mcdowell.......2001-02-23

Excellent book, cuts to the chase and tells you what you will need to set up your Trading Business.

Book Description

No hay tarea más importante en este mundo, donde todo cambia; que conocer y dominar el cambio. En este libro se hace un interesante análisis del cambio en diferentes mundos (en la ciencia, en la naturaleza, en los negocios) y los vincula a nuestras vidas. Geroge Land nos abre los ojos ante las siguientes verdades: El poder del crecimiento creativo, el poder de la conquista del futuro y el poder de la relaciones.

El Título original es: Breakpoint and Beyond.

Book Description

No longer restricted to the engineering industry, project management has at long last crossed over to mainstream business. Project Management for Business Professionals is the definitive reference on the essentials of contemporary project management.

Featured here are some of the foremost practitioners and researchers from academia, consulting, and private industry, sharing their various areas of project management expertise and providing a wide range of perspectives on everything from risk management to resource planning to ethics management.

Focusing on both the technical and human sides of the field, this unique resource follows the main points of the "project management body of knowledge"-the certification standard of the Project Management Institute. The experts address the procedures and processes for planning and managing projects and explore project team/group dynamics, examining the interpersonal relations and the political and organizational considerations that can impact a project.

Book Description

The artistic and appealing original wooden designs in this book can be adapted and easily made into functional items such as trivets, napkin holders, nightlights, candle lanterns, window hangers, and more. Using the patterns provided, woodworkers can turn a simple silhouette into an elegant scroll saw project. Each pattern is presented in crisp, black outlines to make scrolling easy. Smaller, black-filled versions of the patterns show the details of the cut.

Customer Reviews:

Very Disappointing.......2002-12-11

A best a very disappointing book of patterns. At best almost all of the patterns are extremely basic and almost cartoonist in concept. If you are a very beginning scroller you may find the book interesting... but if you have completed even the most basic patterns previously you will not be happy with the content.
The only saving grace was the butterfly patterns.. again simple but with enough detail that a beginner will feel slightly challenged, but not an experiance scroller.

Customer Reviews:

Excellent, truly valuable biography .......2005-10-08

I enjoyed enormously this book: it doesnt try to sell a myth or an epic and doesnt "side" with Deng. The author is a former diplomat and an "old china hand" and the reader can fully benefit from a deep, thoughtful and unemotional analysis by an insider.
The book is factual, doesnt try to prove any theory and gives you also an excellent overview of the whole Chinese history in this century. I particularly enjoyed the shrewd analysis of all the characters and of their motivations, as you would expect it from the eyes of a professional diplomat gauging his counterparts.

This is a solid account of the vicissitudes of Deng's life........1998-11-12

This is an excellent account of the numerous ascents and descents that characterized Deng Xiaoping's remarkable political life. Evans is ultimately telling us a story within a story. Deng's political life spanned the bulk of the twentieth century, and it is against this backdrop that Evans tells us his story. He does a fine job of illuminating how Deng spent his time during the Cultural Revolution, as well as informing the reader what the logic behind his reforms was. As a whole, I liked this book very much and would reommend it to anyone interested in learning more about contemporary China. The writing is consistently concise and to the point. This book does not confuse or bore the reader with lofty theoretical arguments that try to prove causation for various events in Chinese history, it lays out the facts as they are known. This book is both captivating and instructional. However, for those who are well read in Chinese history, much of this book will be redundant. Yet, its redeeming qualities are in ample supply.

DENG XIAOPING and the Making of Modern China, Revised Edition

Average customer rating:

DENG XIAOPING and the Making of Modern China, Revised Edition
Richard Evans
Manufacturer: Penguin (Non-Classics)
ProductGroup: Book
Binding: Paperback
ASIN: B000OJ1KLA

Average customer rating:

Deng Xiaoping: And the Making of Modern China
Richard Evans
Manufacturer: Penguin (Non-Classics)
ProductGroup: Book
Binding: Paperback
ASIN: B000OIUYPE

Book Description

Here is a practical, clearly written volume on how practitioners can develop effective groups. It offers a graphic and well-conceptualized account of two major categories of groups: task groups (committee and planning groups) for solving problems and accomplishing goals; and personal groups (psychotherapy and growth groups) for achieving individual change and developing interpersonal skills. The author utilizes two extensive examples--or continuing "stories"--throughout the volume to demonstrate the applicability of his techniques for group development. In addition, each chapter is devoted to a phase of group development, such as orientation, organization, data flow, and problem solving. Comprehensive as well as practical, this volume will serve as an effective group development roadmap for practitioners and students in counseling, social work, psychology, education, management, and organizational studies. "Conyne's short volume fulfills its promise to be a very practical guide to group work. Its story form is particularly illuminating for beginning students of group process. The stages of group development, the evolution of group leadership skills and the role of the consultant are presented in a way that makes it easy for the instructor to illustrate theories of working with groups. Highly recommended." --University of Wisconsin-Milwaukee "The strength of the book is that the consultant's relationship with task group leader and the mutual sharing between the two counselors in the growth group provide a model for openness, discussion of feelings, problem identification and resolution on a number of important issues related to groups." --AACD Guidepost

Task Groups in the Social Services (SAGE Sourcebooks for the Human Services)

Average customer rating:

Task Groups in the Social Services (SAGE Sourcebooks for the Human Services)
Marian F. Fatout , and Steven Rose
Manufacturer: Sage Publications, Inc
ProductGroup: Book
Binding: Paperback

Decision-Making & Problem Solving | Management & Leadership | Business & Investing | Subjects | Books

Social Work | Social Sciences | Nonfiction | Subjects | Books

All Titles | Qualifying Textbooks - Fall 2007 | Stores | Books

Business & Investing | Qualifying Textbooks - Fall 2007 | Stores | Books

Nonfiction | Qualifying Textbooks - Fall 2007 | Stores | Books
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ASIN: 0803954506
Release Date: 1995-02-17

Book Description

"This work should serve as a sound foundation for students and practitioners as they begin their study of the significance of various groups in social work practice." --Choice Collective problem solving: a powerful and effective means of assessing a situation, determining a course of action, and accomplishing goals. In the realm of social services, this formidable method has been evidenced in the development of task groups; in the textbook arena, it is clearly and definitively presented in Task Groups in the Social Services. Focusing on the role of the social worker, the authors consider such aspects as the recruitment and composition of groups, participation as a team member, group shepherding, and dealing with problem behaviors within the group. Selected problem-solving approaches, including brainstorming, societal judgment analysis, and the Delphi technique, are evaluated in terms of process and outcome. From implementation through achievement, the merits and methods of application for a variety of task groups are assessed. This sophisticated work will be a vital resource for students of social work and social work practitioners alike.

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