Beginner’s Guide to Short-Term Trading: How to Maximize Your Profits in 3 Days to 3 Weeks (Jataka Tale Series) 3.48 of 5 stars 3.48 rating details 31 ratings 5 reviews

A Beginner’s Guide to Short-Term Trading teaches the new trader the ins and outs and the ups and downs of the stock market. It emphasizes the importance of the trader maintaining the right frame of mind as he or she hits it big and, inevitably, suffers a few setbacks. The book is written by award-winning journalist Toni Turner, who presents instructions and advice in a cle A Beginner’s Guide to Short-Term Trading teaches the new trader the ins and outs and the ups and downs of the stock market. It emphasizes the importance of the trader maintaining the right frame of mind as he or she hits it big and, inevitably, suffers a few setbacks. The book is written by award-winning journalist Toni Turner, who presents instructions and advice in a clear, easy-to-implement manner.

In simple terms, Ms. Turner explains:

— Market fundamentals

— Psychological necessities for short-term traders

— How to use the Internet for trading

Community Reviews

This is an excellent book on trading stocks, and a great introduction if you are learning how to trade. I first read this book back in 2006, and after applying its principles, was able to generate a return of just over 50% on my stock portfolio in 2007, the last bull market year before the crash of 2008. I doubt that I could have done that well in any of the years following up until this year, which so far has been a great year for stocks.

Much of the book is dedicated to understanding candlest This is an excellent book on trading stocks, and a great introduction if you are learning how to trade. I first read this book back in 2006, and after applying its principles, was able to generate a return of just over 50% on my stock portfolio in 2007, the last bull market year before the crash of 2008. I doubt that I could have done that well in any of the years following up until this year, which so far has been a great year for stocks.

Much of the book is dedicated to understanding candlestick charts, something that I sneered at when I first started investing in stocks. I now see then as a valuable tool. Understanding charts is not only about looking for patterns such as the double top or cup with a handle. That would be indeed ridiculous. However, as Ms. Turner teaches, if you learn to see charts as an expression of supply and demand, they become an incredibly powerful tool for trading. Now, I try to stick with good companies that have good fundamentals, but charts guide my trading.

Another great aspect of this book is that Toni Turner spends a lot of time on what makes trading so difficult. Anyone with some basic knowledge can jump into a stock, watch it rise and declares themselves a genius. What is truly difficult is figuring out when to sell. Also, eventually trades will turn against any trader, and at that point the question becomes whether or not you have the discipline to take a loss and lose a small amount of money or whether you will lower your stop loss and lose a huge amount of money. It is an emotional struggle, and I have come to believe that whether or not I am a good trader depends on my ability to self-master, not my knowledge of trading.

This book is a great introduction to the mechanics of trading, chart patterns and the jargon that is spewed on CNBC all day long. Toni Turner, however, spends a great deal of time on emotions, discipline and detachment. If you are trading for the first time, pay attention to these passages. If you put as your main goal the object of not losing money, or reducing losses if you have them, as opposed to making a killing, you will eventually be rewarded. Learning the basics of trading is pretty easy. Mastering yourself is a constant challenge, both in life and in the stock market. . more