Advanced Techniques in Day Trading: A Practical Guide to High Probability Strategies and Methods (Stock Market Trading and Investing)
Product ID: 104156357
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A Comprehensive Guide to Trading in the Modern Stock Market This well-thought-out training regimen begins with an in-depth look at the necessary tools of the trade including your scanner, software and platform; and then moves to practical advice on subjects such as how to find the right stocks to trade, how to define support and resistance levels, and how to best manage your trades in the stress of the moment. An extensive review of proven trading strategies follows, all amply illustrated with real examples from recent trades. Risk management is addressed including tips on how to determine proper entry, profit targets and stop losses. Lastly, to bring it all together, there's a "behind the scenes" look at the author's thought process as he walks you through a number of trades. While aimed at the reader with some exposure to day trading, the novice trader will also find much useful information, easily explained, on the pages within. In this book, you'll learn...* How to start day trading as a business* How to day trade stocks, not gamble on them* How to choose a direct access broker, and required tools and platforms* How to plan important day trading strategies* How to execute each trading strategies in detail: entry, exit, stop loss* How to manage the trading plan Review: Excellent and explicit examples, strategies, and psychology lessons. Read this or LOSE. - Three months ago, I resigned from my 6-figure career as a research scientist at a fortune 500 company to pursue day trading. I was weary of the constant travel, the politics, and the lack of leadership. Let me also mention that I had already amassed a comfortable nest egg (and could afford to lose 50k+ in a trading account without hardship) and my wife is currently employed as a professional who makes 6-figures, so we can allow time for me to paper trade in a simulator indefinitely, until I become consistently profitable or decide to do something different. Not to rain on your parade, but if you can’t afford do this, don’t quit your day job. Trading is hard enough, and worrying about paying bills would make it impossible. For the past several years, I dabbled in trading and found it really interesting and moderately profitable (mostly swing trading), but I knew that to replace my income by trading, I needed to become a more active trader who constantly monitored price action each day. This is by far the best book I’ve read on day trading. Aziz doesn’t pull any punches and lets the reader know that successful trading is going to take time and a lot of hard work. He also provides fantastic charts from his past trades—the setups, rationale, strategy, and psychology behind successful trading. More importantly, Aziz alerts you on what NOT to do! I’ve put these ‘bad practices’ to the test in my paper trading account, and almost every time I blow up my fake account in a few days. Aziz also shows his end of the day P&L which allows you to back-calculate the kind of buying power you will need to achieve similar results (usually income of $1-1.5k per day, at least on his good days that were published). This kind of comprehensive insight is not available in any other text I’ve read, and I find myself returning to this book often. I’ve read many books on technical analysis, technical indicators, swing trading, and I’ve also read Aziz’ previous book, which is where you should start if you’re brand new to day trading. The bottom line is that desertcart is full of day trading books, and you should be leery of any book published under desertcart’s Createspace publishing, especially if they have over 4.5 stars and are full of bogus reviews that were all written within 2 weeks of publication despite the book being 3 years old. These books are almost entirely written by unsuccessful traders who get a few bucks for every copy they sell, after having lost their entire fortune to the market, then glean repeat income from their book sales-- books which provide little more than a glossary of terms. I recently became a member of Bull Bear Traders and find their chatroom insightful and unintimidating, yet the members have the mentality of professional traders and keep me tuned in from pre-market to close. I always learn something new. Definitely not a bunch of warrior traders looking to get rich on a $500 account trading penny stocks. I have not been contacted by Aziz or Bear Bull Traders and am receiving no compensations for this review. I respect Aziz’ credentials, the community he has built, and his commitment to teaching. If you are looking for the best book on day trading, spend the nominal fee and get this book. It might give you the clarity and confidence to step boldly into a new trading career. I’ll update this review at the end of the year. Review: Like the prior title, this book serves up a good foundation for aspiring Day Traders. - Preface: This review is not just about the book, but it's also about the author, his work, BearBullTraders, and your journey to becoming a daytrader. If you don't want to read all that, you can skip to the TLDR. I've also read Aziz's prior book, so I picked this one up on release as I found that book to be an easy read. It covers a lot of what the prior book did, but adds on to the knowledge base with more strategies (low-float based, etc). If you're familiar with the prior book or have some experience in markets, you may be able to just jump straight to this one. If you are not confident in your foundation, reading both would be good as this one can serve as reinforcement + expansion. Yes, there's a lot of overlap, but I believe it's by design since some may choose to skip just to this book. In daytrading and in most things, this is not easy work. The first thing I remember standing out about Andrew's first book was his brutal honesty in telling you that the vast majority of retail traders will fail. That stuck with me as it's a very negative note to start a book off with (marketing101 says you stay away from the negative), like a "hey, congrats on thinking you can do this, but you can't". That may turn off a lot of readers, but it's that brutal honesty that made me stick to his book more than others. He wasn't trying to sell me something right off the start, he didn't try and say "hey, you can make $2000 a day just by sitting at home!" like many con-artists try to push. When trying to learn about anything that can be a self-run business or job, you have to be very careful about the charlatan. I grew up with a parent that seemingly always got sucked into the "free seminar." After seeing a few, I understood what they were selling - not knowledge or education, but hope. Their free marketing seminar was really just a loss-leader to get people into the door so they could sell them on hopes and dreams, then push them to hand over a couple thousand dollars. It's like a time-share for information. They're experts in social psychology and know how to sell you on your desire to have financial freedom, when in actuality they're just freeing your wallet of extra cash. This is especially true in the DayTrading education market as there seems to be a lot of con-men in it. I've watched "seminars" of people who spend 20minutes trying to convince you it's a live seminar and not recorded (it was totally pre-recorded), pitching "new ideas" that are just recycled common strategies with a new name.. I've read about others who seemingly never lose a trade (it's not possible), and I've witnessed what seems like organized pump and dump schemes, where the guy sharing the screen uses his slight video delay and large following to seemingly "pump" a stock. -- Side note, if you want a great read on the social psychology of sales tactics, I highly recommend Influence by Robert B. Cialdini, you'll start to see sales interactions in a different light. So when I started to actually look into Andrew's other work, like his courses, and his chatroom, I was intrigued. I did a trial version of the chat and observed him. One thing that stuck out more than other "gurus" in this area is that he seemingly wants to educate people. It's not so much a business where profit is the number one driving factor as much as it's a passion to share. That struck home with me as I'm of the same mindset, I get more pleasure from helping others than I do making money. I like to help people be their best for the sake of helping someone. It was a refreshing change from what I've seen in the day trading space. The chatroom is fun because it's more of a community where you can have discussion, ask questions, and joke a little - this is in contrast to some other chatrooms which are strictly "stock callouts" only. If you have a bad trade or a bad day, others jump in to talk you through it. You learn together. I've seen a few reviews that don't like the fact his other services (chatroom, courses) are mentioned in the book. By all means, you should shop around! If someone is selling you a product within a product, be skeptical. I did my research and was satisfied with what I found, I felt my lifetime membership provided enough value to justify the cost. If you stay with this profession and want to actually learn, you have to put in the hard work. Most won't be able to read just a book and be proficient in it, you do have to practice, and you do have to ask questions and get answers. Wherever you end up in your journey, if you stick with it, you can find success. TLDR Review: - The book is an easy read and provides good value (tremendous value if you bought the Kindle version for under $10). It hits all the common points that you'll find in day trading education books, so if his writing style suites you, this will work. - If you're curious about day trading, this will be a good book for you as it doesn't sell you on "make thousands a day, it's easy!", it's honest in what you can expect. - If you've read the prior book, expect a lot of overlap, but there's enough new stuff to justify it being a new title and not just a new edition to the old. - There's no master strategy or knowledge that can be obtained from books. You're not going to become a master day trader overnight through information osmosis, you have to be willing to put in the hard work as well. Good luck.
| Best Sellers Rank | #43,332 in Kindle Store ( See Top 100 in Kindle Store ) #1 in Accounting Standards (Kindle Store) #3 in Accounting Standards (Books) #3 in Private Equity (Kindle Store) |
C**M
Excellent and explicit examples, strategies, and psychology lessons. Read this or LOSE.
Three months ago, I resigned from my 6-figure career as a research scientist at a fortune 500 company to pursue day trading. I was weary of the constant travel, the politics, and the lack of leadership. Let me also mention that I had already amassed a comfortable nest egg (and could afford to lose 50k+ in a trading account without hardship) and my wife is currently employed as a professional who makes 6-figures, so we can allow time for me to paper trade in a simulator indefinitely, until I become consistently profitable or decide to do something different. Not to rain on your parade, but if you can’t afford do this, don’t quit your day job. Trading is hard enough, and worrying about paying bills would make it impossible. For the past several years, I dabbled in trading and found it really interesting and moderately profitable (mostly swing trading), but I knew that to replace my income by trading, I needed to become a more active trader who constantly monitored price action each day. This is by far the best book I’ve read on day trading. Aziz doesn’t pull any punches and lets the reader know that successful trading is going to take time and a lot of hard work. He also provides fantastic charts from his past trades—the setups, rationale, strategy, and psychology behind successful trading. More importantly, Aziz alerts you on what NOT to do! I’ve put these ‘bad practices’ to the test in my paper trading account, and almost every time I blow up my fake account in a few days. Aziz also shows his end of the day P&L which allows you to back-calculate the kind of buying power you will need to achieve similar results (usually income of $1-1.5k per day, at least on his good days that were published). This kind of comprehensive insight is not available in any other text I’ve read, and I find myself returning to this book often. I’ve read many books on technical analysis, technical indicators, swing trading, and I’ve also read Aziz’ previous book, which is where you should start if you’re brand new to day trading. The bottom line is that Amazon is full of day trading books, and you should be leery of any book published under Amazon’s Createspace publishing, especially if they have over 4.5 stars and are full of bogus reviews that were all written within 2 weeks of publication despite the book being 3 years old. These books are almost entirely written by unsuccessful traders who get a few bucks for every copy they sell, after having lost their entire fortune to the market, then glean repeat income from their book sales-- books which provide little more than a glossary of terms. I recently became a member of Bull Bear Traders and find their chatroom insightful and unintimidating, yet the members have the mentality of professional traders and keep me tuned in from pre-market to close. I always learn something new. Definitely not a bunch of warrior traders looking to get rich on a $500 account trading penny stocks. I have not been contacted by Aziz or Bear Bull Traders and am receiving no compensations for this review. I respect Aziz’ credentials, the community he has built, and his commitment to teaching. If you are looking for the best book on day trading, spend the nominal fee and get this book. It might give you the clarity and confidence to step boldly into a new trading career. I’ll update this review at the end of the year.
K**.
Like the prior title, this book serves up a good foundation for aspiring Day Traders.
Preface: This review is not just about the book, but it's also about the author, his work, BearBullTraders, and your journey to becoming a daytrader. If you don't want to read all that, you can skip to the TLDR. I've also read Aziz's prior book, so I picked this one up on release as I found that book to be an easy read. It covers a lot of what the prior book did, but adds on to the knowledge base with more strategies (low-float based, etc). If you're familiar with the prior book or have some experience in markets, you may be able to just jump straight to this one. If you are not confident in your foundation, reading both would be good as this one can serve as reinforcement + expansion. Yes, there's a lot of overlap, but I believe it's by design since some may choose to skip just to this book. In daytrading and in most things, this is not easy work. The first thing I remember standing out about Andrew's first book was his brutal honesty in telling you that the vast majority of retail traders will fail. That stuck with me as it's a very negative note to start a book off with (marketing101 says you stay away from the negative), like a "hey, congrats on thinking you can do this, but you can't". That may turn off a lot of readers, but it's that brutal honesty that made me stick to his book more than others. He wasn't trying to sell me something right off the start, he didn't try and say "hey, you can make $2000 a day just by sitting at home!" like many con-artists try to push. When trying to learn about anything that can be a self-run business or job, you have to be very careful about the charlatan. I grew up with a parent that seemingly always got sucked into the "free seminar." After seeing a few, I understood what they were selling - not knowledge or education, but hope. Their free marketing seminar was really just a loss-leader to get people into the door so they could sell them on hopes and dreams, then push them to hand over a couple thousand dollars. It's like a time-share for information. They're experts in social psychology and know how to sell you on your desire to have financial freedom, when in actuality they're just freeing your wallet of extra cash. This is especially true in the DayTrading education market as there seems to be a lot of con-men in it. I've watched "seminars" of people who spend 20minutes trying to convince you it's a live seminar and not recorded (it was totally pre-recorded), pitching "new ideas" that are just recycled common strategies with a new name.. I've read about others who seemingly never lose a trade (it's not possible), and I've witnessed what seems like organized pump and dump schemes, where the guy sharing the screen uses his slight video delay and large following to seemingly "pump" a stock. -- Side note, if you want a great read on the social psychology of sales tactics, I highly recommend Influence by Robert B. Cialdini, you'll start to see sales interactions in a different light. So when I started to actually look into Andrew's other work, like his courses, and his chatroom, I was intrigued. I did a trial version of the chat and observed him. One thing that stuck out more than other "gurus" in this area is that he seemingly wants to educate people. It's not so much a business where profit is the number one driving factor as much as it's a passion to share. That struck home with me as I'm of the same mindset, I get more pleasure from helping others than I do making money. I like to help people be their best for the sake of helping someone. It was a refreshing change from what I've seen in the day trading space. The chatroom is fun because it's more of a community where you can have discussion, ask questions, and joke a little - this is in contrast to some other chatrooms which are strictly "stock callouts" only. If you have a bad trade or a bad day, others jump in to talk you through it. You learn together. I've seen a few reviews that don't like the fact his other services (chatroom, courses) are mentioned in the book. By all means, you should shop around! If someone is selling you a product within a product, be skeptical. I did my research and was satisfied with what I found, I felt my lifetime membership provided enough value to justify the cost. If you stay with this profession and want to actually learn, you have to put in the hard work. Most won't be able to read just a book and be proficient in it, you do have to practice, and you do have to ask questions and get answers. Wherever you end up in your journey, if you stick with it, you can find success. TLDR Review: - The book is an easy read and provides good value (tremendous value if you bought the Kindle version for under $10). It hits all the common points that you'll find in day trading education books, so if his writing style suites you, this will work. - If you're curious about day trading, this will be a good book for you as it doesn't sell you on "make thousands a day, it's easy!", it's honest in what you can expect. - If you've read the prior book, expect a lot of overlap, but there's enough new stuff to justify it being a new title and not just a new edition to the old. - There's no master strategy or knowledge that can be obtained from books. You're not going to become a master day trader overnight through information osmosis, you have to be willing to put in the hard work as well. Good luck.
R**T
This one goes to ELEVEN POINT FIVE!
I ordered this book before finishing "How to Day Trade..." also written by Dr. Andrew Aziz. The in-depth explanation of proven strategies provide new - well-experienced traders alike - with a solid tradebook. I knew almost nothing before and am now confidently on my journey to trading thanks to the 360 degree, 24/7/265 coverage of all things related to trading. Thank you Andrew!
A**R
A must-have for aspiring day traders
I recently got my hands on "Advanced Techniques in Day Trading" and I must say, it's an absolute game-changer! This book is packed with practical strategies, insider tips, and in-depth analysis that have truly elevated my day trading skills. What sets this book apart is its ability to break down complex concepts into easily understandable language. The author's expertise shines through as they guide you step-by-step, providing clear explanations and real-life examples that make it easy to apply these techniques in the market. One aspect I particularly appreciated is the focus on risk management. The book emphasizes the importance of managing your trades effectively, which has helped me avoid common pitfalls and maximize my profits. Furthermore, the book covers a wide range of topics, including technical analysis, chart patterns, and trading psychology. It's a comprehensive resource that leaves no stone unturned, making it suitable for both beginners and experienced traders looking to enhance their skills. I highly recommend "Advanced Techniques in Day Trading" to anyone serious about mastering the art of day trading. It's a valuable investment that will undoubtedly pay off in the long run. Don't miss out on this gem
A**N
(Another) Great book for Day Trading
This book is an excellent continuation of the day trading education journey. Building on the solid foundation laid in the first book, How to Day Trade for a Living, Andrew expands on advanced strategies and practical techniques to help traders become consistent and disciplined. The content is well-structured, easy to follow, and packed with actionable insights that reinforce core principles while introducing new concepts for long-term success. A must-read for anyone serious about improving their day trading skills.
E**R
No-nonsense, honest book on Day Trading
I just finished studying this book and thought I'd write a review. You can tell the author cares about educating traders. He gives excellent methods, and teaches not only the strategies, but also the mindset. While many other books try to up-sell you, this one was written to help you be self-sufficient, while also inviting you to the author's chatroom (but it isn't pushed, which I appreciate). Although the daytrading theories are easy to understand, thanks to clear writing, putting them in practice takes practice (pun intended) and the author encourages you to do so, preparing you for the road ahead. I found this book incredibly helpful and insightful. This book doesn't need improvement, but if I was to point at any, the only points for improvement is that (1) in the images, the different trend lines were all the same color due to the black and white print, sometimes making it hard to see which line is which (would've been better if one was dotted, for example). (2) It would also be great if the author showed possible losing trades per method, to normalize losing well/gracefully when trades go wrong. (3) Finally--and I'm yet to find a book that does this--it would be great to see examples from the scanner to the trade. Although this book definitely shows scanner settings and scanning for stocks, it's in a separate chapter. What I mean is, it would be great to see the scans a trader sees, which he'll reject and which he'll keep, which tickers almost fit his criteria and which don't. I feel that selecting the right ones is half the battle. It can be disillusioning to see what crap a scanner spits out and you're like, "in the book all scans looked great, why do I have so many blippy/spazzy stocks!?". All together, a great book, which I gladly finished rapidly and will study again.
H**E
Great book! A must read...
I've now read both of Andrew's Day Trading books and they have changed my life as they open up the world of day trading to me. Before reading I was a novice and hungry for more helpful information on how to learn about day trading, where to start, and where to go for more information. Andrew Aziz is a great teacher and hosts a fabulous online community as well. After reading this book I checked out the online BearBull Traders community for its 7 day deal, and then about 2 weeks later joined as a lifetime member. I haven't missed a day since, now about 3 months. The books talk realistically about what it takes to day trade: the learning requirements, the commitment, the setups, technical indicators, patterns, hot keys, risk management, software apps... Without these books, I was lost and eager to play, which would have resulted in losing money unnecessarily. Andrew clearly states that not only is day trading risky, but that it takes time to practice and learn - as much as 6 months to a year or more. He encourages his community to start learning and practicing by solely paper trading in a simulator, and for a minimum of 3 months. I followed this counsel and am now in my second month of simulator trading only. This is essential and the only way to learn without blowing out your account. Wealth creation through day trading isn't made fast and takes time to master. I've been working at it for about 4.5 months daily and still feel like a beginner, but I'm now arming myself with tools, books, webinars, two communities... Andrew Aziz is a true leader in the field with heart, honesty and open sharing of vital information. I'm very impressed with him as an author, trader and community leader. He also knows how to run and build a vibrant online trading community. The content, structure and other leaders are all superb.
J**A
Good Information but Be Careful
I think Andrew Aziz has some great information in this book but I'm a bit disappointed. Some of the reviewers on here are clearly fake. Even with verified purchases, if you look on the profiles of these accounts, many have 1 or 2 reviews. Seems a bit suspicious, especially considering some reviewers stating they've read dozens of books and this one is the best? I mean, it's a good book full of trading strategies and proper risk management but of all the books out there (there are a few good ones) and this is the only book you've reviewed. Even though I'm getting great use out of the book, the fact that there are fake reviews of this product leaves a bad taste in my mouth. I mean, if you read some of the reviews you can see they are artificial, sponsored, and borderline fake advertisements. Also, there are other day trading books out there that are just as useful and well-researched. For that reason I can not give this book a better rating. The most useful takeaway from this book is proper risk management, and I do appreciate Aziz focuses on this. Trade the plan and plan the trade. Traders fail because they break their own rules. That is the most important takeaway from this book for sure.
B**R
Great book with valuable and practical insights!
The book offers a straight practical guide, starting off with a basic introduction, to tradeable patterns and psychological advice and rquired skillsets. The illustration by providing real trading examples gives great insights into different trading strategies and outcomes. Especially the last chapter summarizes and reflects on the required skillset, discipline and mindset to become and remain successful. Personally I gained helpful insights which strategies I might be capable of training or using and which I personally would avoid. I bought the book to explore further investment/trading strategies and ideas beyond my current scope. This expectation has fully been fulfilled.
A**L
A follow up from the first book- Another great one!
After his first book, I got convinced to go for his second one which is a sort of follow up to the first one but goes in deeper details of day trading strategies as well as the tools and psychological side of trading; another bible for me, the 2 books together really give an inside of of day trading as I never came across before, Andrew really gives you all his knowledge and advises from a pro side but also taking care of those who have to start and are not pros yet. Again I deeply suggest it!!! Alberto
A**A
EXCELLENT BOOK FOR BEGINNERS IN DAY TRADING
If someone is beginner in day trading then it a best book to start with and not just for beginners you can also read this book when the bad times of trading arrives and you feel demotivated and your emotions come apart in your journey, as of now i revise this book regularly and monitors what are the mistakes am i doing and work on it. :-The best advise i can give to you while day trading is to hold your expectation at minimal level means whenever you try to trade, already expect that you are going to make a 1% loss and stick to your strategy although if you are close to hit 1% loss, your emotions will not came apart and you will apparently accept that loss instead of putting more money to recover it or achieve daily profit goals. This technique detoxes your high expectations which contradicts your emotions while trading and help you to stick to you strategy without letting your emotions in the way.
R**V
Informative book
Second book I read from you, and I found it helpful for myself. Now it's time to practice :)
K**R
an honest view on trading. great strategies and insight
Andrew’s book breaks down a lot of key concepts. The book provides insight on to how it is to be a day trader. The strategies explained here in have helped in refining ideas that will cement your path to hopefully being a profitable day trader. Enjoy.
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