Short-term trading refers to the practice of buying and selling financial instruments within the same trading week or, at most, a few weeks. Short-term traders buy and sell stocks over a few days or weeks in the hope that their stocks will continue climbing in value for the time they own them, making for quick and, often, huge profits. Some of the more commonly traded financial instruments are stocks, stock options, currencies, and futures contracts such as equity index futures, in…
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1.0 out of 5 stars
complete waste of time
“Complete guide to investing” my foot. This book is a complete waste of time
and money. The author has many words but very little to say.
1.0 out of 5 stars
What a major disappointment
This book is a very basic book about trading. If you have traded for 3 months or more, many of things pointed out in this book, you will already know.
3.0 out of 5 stars
A good place to start… …but not the place to stop.
I purchased this book hoping to learn how to use technical analysis to aid in choosing winning stocks.
I’ll start off with the positives: this book does give a good basic overview of basic short-term trading timelines and styles, and it frequently reminds the reader of several key rules for trading success (for example, developing a consistent trading methodology that emphasizes discipline over emotion). The profiles of successful traders also provide some pithy advice from people with varying backgrounds and perspectives. That said, after reading through the entire book, I find that it leaves a lot to be desired. My main complaint is that despite its claim to being a “complete guide” to trading, the book only covers fundamental and technical analysis at a very superficial level. Beyond that level, the book’s best advice is “buy some trading software and figure it out.” While it’s true that you ultimately need to practice the concepts yourself to really apply them effectively, a few diagrams or concrete examples in the book would go a long way toward helping readers digest the ideas being discussed. […]
Bottom line: you can use this book if you are an absolute novice looking for a very high-level overview of analysis principles and trading techniques. Otherwise, I’d recommend looking elsewhere for more detail and sophistication.
5.0 out of 5 stars
Excellent road map for beginners especially
I just finished reading the whole book and I, without reservation, recommend this book to anyone who wants a professional in the field to guide him or her along in this risky…
Just reading through the table of contents may seem daunting for this incredibly detailed and well broken-down text. But don’t put it back on the shelves simply because of information overload! This book claims to be a complete guide to investing, and it takes that claim seriously. The strength of this book, in my opinion, is its variety of voice. Technically, it has one author. But between the covers are numerous interviews and personal stories on success and failure of stock market trades- not fictional scenarios, but real anecdotes from real (and often well known) `expert’ traders. There is also the layman’s approach to it all, with a glossary of terms and handy information `bullets’ in the back of each chapter (in case the words were making your head spin). The author also does not cushion us readers with false hope or any sugar-coated lies about ease and success- which, as a beginning stock trader, I greatly appreciate. So, although it may take you weeks to fully comprehend the mass of information here, stick with it. Because, as we all know, playing the market is based on education, not luck, and so if you’re a beginner in short term trading you should do your best to educate yourself fully. And this book should be a part of that education.
4.0 out of 5 stars
Well Organized and Readable
Alan Northcott provides a complete course of Short Term Trading, with all the terms and methods clearly explained and demostrated.
I wish I had read this book years ago — I may have been able to react more appropriately (ie: I wouldn’t have tuned out, or my eyes wouldn’t have crossed) when my husband raved about a stock that he had just sold at a profit, or another one that he was watching as CNBC pundits argued in the background. I’d go into the “huh? zone” because I didn’t understand what he was talking about when he referred to futures, options, puts and calls. All I vaguely knew was that a stock going up in price was a good thing, and you buy low and sell high. So, while I’m not planning to do any short term trading, this book gave me a better understanding of trading in terms that I could understand.
I sailed through the first several chapters in which Northcott went over the basics: supply and demand, global influences, the mindset of a trader, the differences between the markets and exchanges, placing orders, the types of traders, economic indicators and the tools that are needed to be a trader. Northcott’s cheat sheet at the end of each chapter offers a quick look at the chapter in the form of “success bullets” and “words to know” that I found helpful and invaluable to someone using this as a reference book. I did start to get into the “huh? zone” around Chapter 8 when Northcott went into the nitty-gritty world of charting, and I found my reading slowing down as I stumbled over candlestick charts and support, resistance and continuation patterns. His lesson on indicators (ie. Moving Average Convergence/Divergence indicator and the Stochastic Oscillator) go into a detail that should make this book required reading for the beginning trader.
The next several chapters aren’t a quick read – in fact, they’ll take several re-readings and a highlighter. But they’re basic tools for anyone wanting to research and trade on the markets.
I closed the book with new knowledge and a better understanding of just how risky and exhilarating short term trading can be. This book doesn’t offer a get-rich-quick plan, but it does provide a look at the basics of what it takes to do this kind of trading. Throughout the book, Northcott stresses that short term trading is a business, so the novice needs to think of it that way. Don’t let emotions like greed and fear get in your way. Come up with a business plan and stick with it: do research to get in or out of the markets, and know the point when you’ve got to fold and get out.
I’d give this book five stars and recommend it as a required reference book on the shelf of anyone who dabbles in buying or selling on the markets to those who want to make it a career.
5.0 out of 5 stars
Complete but not comprehensive
This is an excellent book to start off with when thinking about short-term trading whether it be day, swing or position.
5.0 out of 5 stars
Trading 101
This is an excellent choice for anyone that is looking for a book to start out with and learn the basics of trading.
4.0 out of 5 stars
Trading Know-How
When people first think of trading as a profession, they typically focus on two key elements – self employment and lots of money, and probably not in that order.
4.0 out of 5 stars
For The Serious Investor
For the serious investor, all the information you need to know and do before you make a trade is in this book.
4.0 out of 5 stars
Emotions determine success!
I’ve read quite a few books on investing stocks and bonds and this is the first one that addresses the motive behind it all; Emotions.