The Truth About Day Trading Stocks: A Cautionary Tale About Hard Challenges and What It Takes To Succeed (Wiley Trading)

"Josh does an outstanding job of capturing all his trading experience into an invaluable memoir detailing specific rules for both the inexperienced and experienced trader. Anyone interested in trading professionally should read this book as they will learn invaluable lessons."
—Stephen Ehrlich, CEO, Lightspeed Financial, LLC

"Having been a trader for over twenty years myself, I’ve read my share of books about the financial markets. Josh’s book is one of the few which doesn’t sugarcoat the fact that successful trading is both hard work and takes a long time to master. These lessons and guidance are drawn from real-life experiences, not hypotheticals, which simply adds to their weight. Active traders who are serious about their success need to read this book."
—Tim Knight , founder of Prophet.net, author of Chart Your Way to Profits

"A brutally honest depiction of the reality of trading. Great stuff. If you’re new to the trading game, this book will shorten your learning curve and—if you take its lessons to heart—it just might save you money and grief."
—Jason Alan Jankovsky, author of The Art of the Trade and Trading Rules that Work

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All Customer Reviews
Average Customer Review:
1 of 3 people found the following review helpful:

Excellent Guide to Day Trading For Novices and Traders Looking for a New System, 2010-02-23
Josh's book is not only a great read, but lays out the hard truth when it comes to being successful at day trading. I think a lot of beginners get lured into the business with the hopes of freedom and fast money, only to find lots of hard work and fast losses. Not knowing what you're doing can get expensive, and Josh gives you everything you need to know about being a rookie trader and how to not lose your shirt in the process.

His emphasis on pay per share brokers, preventing overexposure (100 share block trades to starts), and consistent wins of $.10 $.25 per trade are fantastic for people who can't stomache huge losses. I will be starting Josh's mentorship next week and from what I hear from his previous students it is a great experience. I recommend this book to anyone new to day trading.


1 of 3 people found the following review helpful:

Sensible,practical, and smart, 2010-02-18
I also read quite a few customer reviews before buying a book or other product I don't know much or anything about. I believe this book does address questions and concerns for someone thinking about getting into day trading. For me, the author wrote this book simply but concisely. My eyes did not "glaze over" at any point while reading this book,and I appreciated the author revealing past mistakes he has made so that others out here might not. I had no idea that pay-per-share (versus pay-per-trade) existed. This seems important in day trading $$$$$.There are no "get-rich-overnight" promises, and I appreciate that kind of read. I highly recommend this book.


2 of 6 people found the following review helpful:

Genuine, Genuine, Genuine, 2010-01-28
I was curious about a mentoring program that was so reasonably priced. I have spent $2000 before for worthless results from honest people. Josh is a delight.
In his one on one phone conversations with you, he makes you think you are the only concern he has and to some degree you are to him at that moment. He cares. He really cares. He is not out to make money only. He is a people person to the nth degree. Because of that he does not concern himself with time as he tries to guide you to become a professional trader. He advertises 15-30 minute phone conversations in each of 5 sessions. He gives you whatever it takes. I spent 45-60 each time. Where does he find the time. If I were to ask that of some other well meaning traders who educates, the ones I know of would laugh about talking one on one on the phone and would charge several thousand for a group presentation per individual.
You will read things in his book that sound like a sells pitch. They are not. He is 100% sincere in all his statements. I really don't know how he can go on giving so much of himself for so little financial return. However, being the person that he is I suppose he enjoys giving as much as he does.
He really is looking to train people so that one day in the future you can benefit him by being one of several people on his personal trading floor. However, if you are not interested in that, his focus is still on you.
What more can I say? He is a genuine, personable, professional teacher. Don't hesitate to let him make you a better trader.


3 of 5 people found the following review helpful:

MY COMMENTS ABOUT YOUR BOOK, 2010-01-25
HI, JOSH
I HAVE GONE THROUGH BOOK , HERE IS MY COMMENTS AND THOUGHTS, I REALLY TO LIKE YOU HAVE YOUR ANSWER ON THIS.

1. YOUR BOOK IS GOOD FOR NEW BEGINER TO DO DAY TRADE TO VOID EMOTION ON THE TRADE(MOST PERSON WILL LOSS THEIR EMOTION OR CONTROL WHEN DO TRADE), I THINK THIS WILL BE HELPFUL TO BE AWARE THAT.

2. BUT FOR THE TRADE SKILL, I REALLY DOUBT IF YOU FIND THE WAY TO PROFIT CONSTANTLY. OTHERWISE YOU WILL NOT NEED TO PROMOTE YOUR MENTOR TRAINING PROGRAM(THIS IS WHAT I THINK, IF I AM WRONG , PLEASE CORRECT IT).

3. BASED ON YOUR TRADE SKILL DESCRIPTION,I ASSUME YOU USE PIVOT LINE TO IDENTIFY THE SUPPORT AND RESIST LEVEL TO DO THE TRADE, BASE ON THIS, I HAVE RUN STATISTIC STUDY ON ONE OF ETF STOCK WITH 3X, AND FOUND SOMETIMES IT WORKS, SOMETIME IT IS NOT WORKS. SO IT MAYBE 50/50 CHANCE ON THAT. I THINK THIS IS MAYBE THE REASON WHY YOU WANT TO DO MENTORING TRAINING PROGRAM, BECAUSE THE CHANGE TO WIN IS NOT HIGHER ENOUGH(GOOD THING ON YOUR TRADE METHOD, YOU MAY NOT LOSS BIG MONEY, BUT IT IS HARDLY TO MAKE MONEY TOO).

4. ALSO, I HAVE POSTED MY REQUEST ON YOUR WEB SITE BLOG, BUT IT HAS BEEN DELETED.
THE REASON I POSTED, BECAUSE I WANT TO PARTICIPATE YOUR PROGRAM IF IT IS REALLY WORK, SO I HAVE REQUESTED YOU CAN POST YOUR TRADING STOCK PERFORMANCE TO CONVINCE ME. BUT I DON'T KNOW WHY YOU HAVE DELETED MY POST BUT KEEP OTHERS OVER THERE. I ASSUME YOU SHOULD HAVE SOME CONCERN ON THAT(IF YOUR TRADE METHOD IS REALLY WORK, YOU CAN POST YOUR PERFORMANCE TO APPROVE THAT, THIS CAN BE MORE CONVINCEBLE THAN LOT OF EXPLAINING).







7 of 11 people found the following review helpful:

good, but not good enough, 2010-01-14
This is a book for the beginners.

Investment is a very complicated topic,the author tried hard to cover them all. In the end, it only touch very superficial things about most aspect of trading. If you really want to become a trader, this book, at the most, is just an appitizer.

Investment is something that either you are going to be the best, or you'd not even try at all. Do not waste your money here.

The author is not a psychologist. For trading psychology, go to Brett Steenbargar's third book, Ari Kiev's book is also good. Alex Elder's Trading for a Living also contains a good session on trading psychology. All three names I mentioned are doctors and experienced with trading. Three Market Wizards books also provide good advice on trading psychology. For getting hands on advice, go with Marcel Link and Chick Goselin, those books are far more useful than this one. In addition, Mark Douglas' books are excellent.

My advice is, if you are serious about trading, then read ALL the above books I mentioned. If you are not sure, then do not even waste your time on this one.

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