Day Trading Stocks the Wall Street Way E-Book

Josh DiPietro

• Herausgeber: John Wiley & Sons
• Kategorie: Fachliteratur
• Serie: Wiley Trading Series
• Sprache: Englisch

Seitenzahl: 319

Veröffentlichungsjahr: 2015

Beschreibung

Avoid bogus trading systems, learn from a real day trader, and make consistent profits day trading stocks Day Trading Stocks the Wall Street Way: A Proprietary Disclosure on Intra-Day Trading and Swing Trading Equities provides a real-world guide to successful day trading, and gives you the tools, techniques, and tested, reliable methods you need to trade like the pros. Written by a seventeen-year day trading veteran, this guide talks you down from the industry hype to give you a realistic grounding in self-discipline, consistency, and patience while teaching you the hard skills you need to have a real chance of success. Avoid losses by swerving from the typical beginner's path of seminars, software, and major brokerage houses, and instead develop the insights that lead to real, long-term profits. With an engaging and humorous tone, the author relates his own experiences and lessons learned to teach you the do's, the don'ts, and the ingredients for success. You'll discover Josh DiPietro's FUSION TRADING SYSTEM--a proven method developed from years of reliability testing. He'll show you how intra-day setups and swing trading setups can be merged to develop a perfect trade. The surest path to failure and tremendous financial loss begins with the over-eager, overly optimistic amateur trader who sees day trading as a quick and easy path to wealth. This book gives you a much more realistic outlook, and the fundamentals you need to make the most of the market. * Get an honest perspective on real-world day trading * Gain the wisdom of experience and avoid common pitfalls * Learn the framework to Josh Dipietro's profitable FUSION TRADING SYSTEM A poorly defined trading approach will cost you more money than you will make, rendering your day trading venture a potentially damaging net loss. Day Trading Stocks the Wall Street Way: A Proprietary Disclosure on Intra-Day Trading and Swing Trading Equities teaches you the avoidance of loss, the discipline, and the transparent strategies of success, so you can play the market to win.

Leseprobe

Table of Contents

Title Page

Copyright

Author's Note

Do Not Read Out of Order!

Three Essential Prerequisites

Introduction

Changes and Updates Since My First Book (2008)

The Breakdown

Discovering Day Trader Josh

How I Trained, and How I Journeyed Closer to Wall Street

Acknowledgments

Part I: Mastering Your Mindset Before You Absorb the System by Day Trader Josh

Lesson 1: Control of Emotions and Mastery of Focus

The Fear and Greed Factors

How to Control Them

How to Stay Focused While Trading—

All Day

Lesson 2: How Overconfidence Can Destroy Your Trade

Confidence Is Great Until You Have Too Much

Lesson 3: Dealing with Your Impatience

Traders Have to Cope with Two Kinds

How to Control Your Impatience

Lesson 4: Knowing When to Stop Trading

Why Taking Breaks from Day Trading Is Necessary

What to Do During Your Inevitable Break(s)

Lesson 5: Risk Management: Buying Power versus Capital

How Much Buying Power to Trade With

Recaps on Managing Your Buying Power

Lesson 6: Avoiding Overexposure to Market Risk

Normal Exposure Is the Amount You Can Lose—Overexposure Is Disaster

Trading Consistently in 100-Share Blocks Prevents Overexposure

Recaps on How to Avoid Overexposure

Lesson 7: Budgeting Your Way to Profitability

How to Stay Out of the Poorhouse

Lesson 8: A Realistic Look at Stop-Loss

Stop-Loss Should Be Automatic

How to Properly Strategize Stop-Loss without Hesitation

Lesson 9: Day Trading Is

Not

Gambling

There's a Huge Difference Between Them

Day Traders' Options

Not

Available in Casinos

How to Make Sure You're Day Trading, Not Gambling

Lesson 10: Consistency Rules!

Stay Consistent in Your Trading Habits and Tactics

Maintain a Highly Regimented Trading System

Lesson 11: News versus Noise

Learn to Resist Media Babble

How to Monitor News and Economic Reports

Lesson 12: When It Comes to Averaging Down, Amateurs Beware!

It's Not Based on Real Price Levels

How to Avoid Recklessly Averaging Down

Lesson 13: What Stocks to Trade and Why

I've Already Selected Them for You

Learn My Stock-Selection Criterion System

Lesson 14: Picking the Right Online Broker

Pay-per-Share versus Pay-per-Trade Brokers

Part II: Day Trader Josh's Intra-Day Trading Methodology

Chapter 1: Basic Procedure

The Best Stocks to Trade with My System

Additional Reasons Why You Should Take Only 15 Cents on Each Trade

Chapter 2: Prior Price Levels and Newly Forming Intra-Day Levels

The Basics of One-Minute Candlestick Chart Reading

Get Your Daily Price Levels Logged and Organized

What to Do After You Have Your List of Daily High Price Levels and Daily Low Price Levels

Log Your

Prior

Price Levels on a Whiteboard

Before

the Opening Bell

Now You Start the Five-Candlestick Counting Process

How to Count Five Minimum Candlesticks (Chart Analysis)

Notes, Reminders, Cautions, and Hints of the Lessons to Come

Chapter 3: Intra-Day Golden Rules: Entry/Exit Setups

The Rules Explained

Mastering the Three-Tier Max Strategy with 100-Share Block Trades

Understanding the Wisdom of 15-Cent Static Profits

Observing the Framework of Entry and Exit Strategy with Step-by-Step Procedures and Guidelines

Entry Strategy

Exit Strategy

The Wisdom of Using Strategy Stop-Loss

Chapter 4: The Mechanics of FASTKEY Order Execution

Using Your Keyboard Keys for Rapid Order Execution

Placing Orders Directly from a Level 2 Quote Chart (Direct Access)

Executing Real-Time Trades (Manual

Limit

Orders)

Scrutinizing Both Real-Time and End-of-Day Trades with Back-Testing

Part III: Day Trader Josh's Swing Trading Methodology

Chapter 5: Introduction to Swing Trading: Basic Rules and Procedures

Introducing the Ten-Day Hold Rule

How to Determine the First-Tier Swing Level

Understanding Entry and Exit Setup Rules

Two Key Swing Rules to Follow

Buying Power and Trading Experience Dictate Your Swing Strategy

Here's the

Good

News!

Chapter 6: Sample Swing Charting Setups

The 5 Percent Bubble

Swing Trade Setups

Part IV: The Fusion of Intra-Day and Swing Strategies

Chapter 7: Introduction to Fusion Trading

Why Are They Not Mutually Exclusive?

Applying the Golden Rules

Deciding Your Trading Options: Intra-Day Only, Swing Only, or Fusion?

Chapter 8: Sample Fusion Trade Setups

Sample Fusion Trade #1

Sample Fusion Trade #2

Sample Fusion Trade #3: An Advanced Fusion Trade

Final Words on Fusion Trading

Part V: Advanced Rules and Procedures

Chapter 9: Maximizing Net Profits and Minimizing Losses on Overall Trade Setups

What Is Pivot Trading?

Sideline Trading

Earnings Release Trading

Part VI: Trading and Training with Day Trader Josh

Chapter 10: My Trading Room and How It Works

Chapter 11: The Day Trader Josh Training Program

Program Details

Learning Objectives

What the Price Includes

Recap

About the Companion Website

My Final Words to Readers: Warnings, Reminders, and Prospects for the Future

Index

End User License Agreement

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Guide

Cover

Table of Contents

Introduction

Part I: Mastering Your Mindset Before You Absorb the System by Day Trader Josh

Begin Reading

List of Illustrations

Lesson 13: What Stocks to Trade and Why

Figure L13.1 Five-Minute Chart Over Three Days

Lesson 14: Picking the Right Online Broker

Figure L14.1 Streaming Level 2 Quote Chart from Lightspeed Trading Platform

Chapter 1: Basic Procedure

Figure 1.1 BIDU 2-Day Chart

Figure 1.2 IBM Weekly Chart

Figure 1.3 25-Cent Barriers

Chapter 2: Prior Price Levels and Newly Forming Intra-Day Levels

Figure 2.1 One-Minute Candlesticks

Figure 2.2 One-Minute Candlestick Chart

Figure 2.3 Pre-Market Trading Range

Figure 2.4 Previous Day High/Low Chart

Figure 2.5 Too Much Information

Figure 2.6 Daily Chart: LNKD

Figure 2.7 Daily Level with Highs and Lows

Figure 2.8 Daily Level Process

Figure 2.9 Daily Levels Over a Year

Figure 2.10 Gap Rule

Figure 2.11 One of My Whiteboards

Figure 2.12 Prior Price Levels

Figure 2.13 High (Resistance) and Low (Support) Price Levels

Figure 2.14 Previous Candlestick Higher than the Previous One

Figure 2.15 Previous Candlestick Lower than the Previous One

Figure 2.16 Five Minimum Candlesticks

Figure 2.17 Newly Formed Intra-day Support Level

Chapter 3: Intra-Day Golden Rules: Entry/Exit Setups

Figure 3.1 Daily Chart: LNKD

Figure 3.2 Three-Tier Max Strategy

Figure 3.3 One-Minute Chart

Figure 3.4 Intra-Day Entry Levels: Support

Figure 3.5 Intra-Day Entry Levels: Resistance

Figure 3.6 One-Minute Chart

Chapter 4: The Mechanics of FASTKEY Order Execution

Figure 4.1 PC or Laptop Keyboard

Figure 4.2 FASTKEY Order Execution #1

Figure 4.3 FASTKEY Order Execution #2

Figure 4.4 FASTKEY Order Execution #3

Figure 4.5 FreeStockCharts Platform

Chapter 5: Introduction to Swing Trading: Basic Rules and Procedures

Figure 5.1 Swing Level

Figure 5.2 GS Earnings

Figure 5.3 Entry Rules

Figure 5.4 Exit Price Points

Figure 5.5 GS One-Minute Chart

Figure 5.6 First-Tier Swing Resistance

Chapter 6: Sample Swing Charting Setups

Figure 6.1 Daily Levels

Figure 6.2 Entry Points for Swing Trades

Figure 6.3 IBM Setup

Figure 6.4 IBM 400-Share Swing Setup

Figure 6.5 Swing Trade with Limited Capital

Figure 6.6 BIDU Setup

Figure 6.7 BIDU Long Entries

Figure 6.8 Log Sheet

Chapter 7: Introduction to Fusion Trading

Figure 7.1 Classic Fusion Trade Setup

Figure 7.2 Prior Price Levels—LNKD

Figure 7.3 First-Tier Swing Support Level

Chapter 8: Sample Fusion Trade Setups

Figure 8.1 Sample Whiteboard Chart: Support Levels

Figure 8.2 Sample Whiteboard Chart: Resistance Levels

Figure 8.3 Whiteboard Price Level on IBM (for 3/23/15 trading)

Figure 8.4 IBM One-Minute Chart

Figure 8.5 Daily Chart Levels and Swing Levels

Figure 8.6 IBM Five-Minute Chart

Figure 8.7 Daily Chart Levels and Swing Levels—TSLA

Figure 8.8 Whiteboard

Figure 8.9 TSLA One-Minute Chart

Figure 8.10 Daily Levels

Figure 8.11 Whiteboard—FDX 3/25/15

Figure 8.12 Whiteboard—FDX 3/26/15

Figure 8.13 March 25, 2015, Original Swing Entry

Figure 8.14 March 26, 2015, Fusion Trade Setup

Figure 8.15 March 27, 2015, Non-Activity Trading Session

Figure 8.16 March 30, 2015, Non-Activity Day

Figure 8.17 April 1, 2015, After Exiting Swing Trade

Chapter 10: My Trading Room and How It Works

Figure 10.1 Day Trader Josh's Daily Chart Levels

Figure 10.2 Daily Chart Room

Figure 10.3 Day Trader Josh's Swing Trading Room

Figure 10.4 Swing Trading Room—Most Recent Trades

Figure 10.5 Future Trade Setups

Figure 10.6 Minimum Profits to Date

DAY TRADING STOCKS THE WALL STREET WAY

A Proprietary Method for Intra-Day and Swing Trading

Josh DiPietro