Winning the Day Trading Game: Lessons and Techniques from a Lifetime of Trading

ISBN-13: 9780471738237 / Angielski / Twarda / 2005 / 208 str.

Thomas L. Busby

Opis

Take a proven approach to short-term trading. Winning the Day Trading Game offers an insider's view of the trading life and provides proven strategies for profitable trading. Professional trader Tom Busby explains how the strategies that made him so much money early on in his career ultimately failed during the 1987 stock market crash and then reveals how he reinvented himself as a high-percentage day trader. He interweaves personal experiences with technical explanations to outline the cornerstones of his technique. In highlighting his own trading experiences, Busby clearly explains how to beat the market by balancing the impulses of greed and fear, managing risk at all times; and taking responsibility for your trading. Thomas L. Busby (Mobile, AL) has been a professional trader and broker for 25 years, working with Merrill Lynch and Smith Barney. He founded the Day Trading Institute in 1996 and it has grown into one of the most successful trading schools in the world.

Spis treści

Acknowledgments vii

Introduction ix

CHAPTER 1 The Crucible: Black Monday 1

CHAPTER 2 Time Is Central 15

CHAPTER 3 Trading Is a Numbers Game 31

CHAPTER 4 Read the Tape 45

CHAPTER 5 There s No Crying in Trading 61

CHAPTER 6 Riding the Rail 73

CHAPTER 7 Worry about Risk, the Rewards Will Come 85

CHAPTER 8 Respect the News 99

CHAPTER 9 Getting Down to Brass Tacks 113

CHAPTER 10 Preparation Pays 133

CHAPTER 11 A Study in Contrast 145

CHAPTER 12 Recap the Essentials 155

CHAPTER 13 An Afterthought for Consideration:

The Doctrine of Genius 169

Appendix A Glossary 173

Appendix B Getting Started 179

Appendix C Order Types 185

Appendix D Suggested Reading 189

Appendix E Helpful Websites 191

Index 193

O autorze

THOMAS L. BUSBY, a twenty–five–year veteran of the market, began his trading career with Merrill Lynch while earning a law degree. After training in New York, he earned his brokerage license and a license to trade futures, and enjoyed remarkable success. But on October 19, 1987, the market crashed, and with it his career and worst of all his self–confidence. After several years of struggle, he reappraised all that he had learned, ultimately devising an innovative short–term trading strategy focused on risk management. Applying this new method, he achieved phenomenal results. In 1996 he founded the Day Trading Institute, now one of the world′s most successful trading schools. Mr. Busby is a member of both the Chicago Mercantile Exchange and the Chicago Board of Trade.

PATSY BUSBY DOW is a former educator, an attorney, and a trader. As Tom Busby′s first cousin, she heard him talk about the markets and his trading experiences. Her fascination with his stories and market savvy led her to study his trading methods. She is currently employed by the Day Trading Institute as a staff writer.

Blurb

PROFIT FROM EXPERIENCE!

"All day traders will relate to the stories and lessons in Busby′s new book, and new day trading entrants need to read it before they set out on what can be a perilous ′journey.′ It will make the going much smoother."
Gail Osten, Executive Editor, SFO Magazine

"As a floor trader of twenty–five years′ standing, I can tell you that Tom Busby has made an important contribution to the literature of day trading. His incisive comments bring clarity to chaos. His calm demeanor permits you to learn."
Scott Slutsky, Member, Chicago Mercantile Exchange, Managing Director, Alaron Trading Corp.

"This book to me, as an active day trader in the E–mini and NASDAQ futures, is a wholesome and frank discussion of our strengths and weaknesses as traders and investors. Repeatedly it reminded me of our journey as we all have to tame our demons before we can master this game."
Fari Hamzei, Founder, Hamzei Analytics

"Winning the Day Trading Game provides an excellent primer for anyone seeking information on trading anything financial. The book is easy to read and comprehensively addresses everything a prospective trader needs to know to start. Through his courses, Tom has always been good at creating a great foundation for new traders. His new book brings what he teaches down to a grass–roots level where every new trader should start. His stories illustrate important lessons and are even amusing. . . . I urge you to get a signed copy it will be worth some money some day."
Richard Rueb, President, www.worldwidetraders.com