The Ultimate Day Trader: How to Achieve Consistent Day Trading Profits in Stocks, Forex, and Commodities

by Jacob Bernstein

Overview

Day trading is difficult. The path is fraught with risk. But a pot of gold awaits those who learn their lessons well. After four decades in the markets as a trader, analyst, author, educator, and system developer, Jacob Bernstein sets down a comprehensive guide to the art of day trading.
You will learn:

• New day trading methods
• Order entry strategies
• How to avoid costly errors when using electronic trading platforms
• Detailed strategies to maximize profits

With this book, readers will have the complete guide they need to profit from this risky but exciting field. Trading profits are just a day away.

Product Details

ISBN-13:	9781605500089
Publisher:	Adams Media
Publication date:	08/18/2009
Pages:	352
Sales rank:	15,892
Product dimensions:	5.50(w) x 8.40(h) x 1.00(d)

About the Author

Jacob Bernstein is president of MBH Commodity Advisors Inc. and Bernstein Investments Inc. Born in Europe in 1946, Bernstein moved to Canada and then to the United States. He has authored more than thirty-five books on trading, investing, investor psychology, and economic forecasts, including the classic The Compleat Day Trader. His newsletters and advisory services are read internationally by traders, investors, brokers, financial institutions, and money managers. Bernstein’s consulting clients include some of the largest hedge funds, brokerage firms, market analysts, banks, and professional traders in the world. He maintains a web presence at Trade-Futures.com and his stock market advisory 2Chimps.com, Seasonaltrader.com, and Patterns4Profit.com. He has authored articles in Futures Magazine, Money Maker, Stocks and Commodities, Barron’s Financial Weekly, FarmFutures, and other leading financial publications. He has appeared on numerous radio and television business shows. Bernstein holds a BA degree in clinical and experimental psychology from the University of Illinois with work toward a MA degree in the same field.

Table of Contents

Introduction 1

Part I The General Principles of Day Trading 15

Chapter 1 Definitions and Directions-What It Means to Day Trade Today 17

Chapter 2 The Need for Methods 27

Chapter 3 An Overview of Day Trading Markets and Methods 53

Chapter 4 The Importance of Structure and the STF Framework 73

Part II Successful Methods of Day Trading 83

Chapter 5 Gap Day Trading 85

Chapter 6 The Moving Average Channel with Confirmation Trend and Channel Trading 109

Chapter 7 Day Trading By the Day 125

Chapter 8 Volume Spikes and Their Use in Day Trading 139

Chapter 9 Day Trading With Divergences: Set-Up 151

Chapter 10 Day Trading with Divergence: Momentum Timing Triggers 177

Chapter 11 Day Trading With Divergence: Follow-Through 193

Chapter 12 The Stochastic "POP" Method 205

Chapter 13 The Trend Breakout Method 221

Part III At the End of the Day 243

Chapter 14 Trading in a News-Driven Market 245

Chapter 15 Exit Strategies 259

Chapter 16 The Pragmatics of Day Trading 275

Chapter 17 Putting It All Together 291

Chapter 18 Ten Cardinal Rules of Day Trading 303

Conclusion 318

Glossary 325

Resources 337

Index 339

About the Author 345