by Markus Heitkoetter
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Product Description
Learn the Art of Day Trading With a Practical Hands-On Approach
Do you want to be a day trader?
Every day, millions of dollars change hands in the markets, presenting the perfect opportunity for people just like you to make significant money and profits through the art of day trading.
But here's the question: is day trading right for you? And, if it is, how do you get started?
In his new three-part guide, professional day trading coach Markus Heitkoetter lays out a simple, proven system for trading success. From the basic essentials of trading to the actual process of making money in the markets, he'll cover it all.
* What You Need To Get Started: The Tools, The Methods, The Mindset
* Finding the Best Market to Trade: Futures, Forex, Stocks, or Options
* A 7-Step Approach to Developing Your Own Profitable Trading Strategy
* The 10 Power Principles of Successful Trading Strategies
* Avoiding The 7 Common Mistakes of Traders
* Get Started Without Risking A Single Penny
* Ready-To-Use Trading Plan Templates, Checklists, Resource Directories, & More
Loaded with easy-to-use information, proven and reliable strategies and guidelines, and a practical hands-on approach to the industry, The Complete Guide to Day Trading is your own personal manual to success in the markets.
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Average Customer Review:
0 of 0 people found the following review helpful:
 Not "complete" but a good basic introduction., 2010-02-09
Not bad as a basic introduction or overview of the world of day trading. If it titled itself as an introduction, I might have given it another star. If you read this book and find it interesting, then you may be a candidate for learning more. However, be forewarned that most successful traders became successful only after reading several dozen weightier books than this and spending several years, or about 7,000 hours, in front of their trading screen.
This book, like most others, glosses over the fact that learning what it takes to become a successful trader is at LEAST the equivalent of getting a bachelor's degree in a tough subject. You will not qualify to receive a bachelor's degree after reading one book, nor will you become a successful trader if this is the only book you read. Not saying there is anything wrong with the information in the book, it's just that you will need far more information, in greater detail, than what you read here.
That said, the author provides a decent overview of the different markets, what it costs to get into each market, advantages and disadvantages of each, and what are reasonable expectations based on the time and money you can actually devote to it. He covers a bit about the psychology of trading. He touches briefly on setting yourself up as a trading business or corporation, writing a business plan and a trading plan, choosing an accountant, a broker and a trading platform, creating, testing and optimizing a trading strategy. And I'll give the author much credit for pointing you in the direction of further learning with a decent list of more books to read, by authors other than himself.
To become a successful trader, you do need to know everything in this book, as a basis to build on. The author is a trading coach and the book is available for free from his website, RockwellTrading. I do not specifically endorse his coaching skills nor the other products available from his website.
0 of 1 people found the following review helpful:
From novice to intermediate trader., 2010-01-30
I have read the book again and again, and I followed the suggestions step by step.
After a week or two trading experiences sticking to what the book taught, I have found that the most significant value of the book is to help me not to trade blindly and emotionally.
The book is a step-by-step guide to help trader to design a trading plan, so the trader can trade according to the plan designed.
I think if anyone else would like to learn how to write a trading plan for his own user, this is a book to refer to.
1 of 1 people found the following review helpful:
good first book on fundamentals of trading, 2010-01-14
This book has been criticized for not being "complete" as the title suggests, and I am not going to defend the title, but I will say that I see the book as providing a complete framework for day trading, and as such, it does a good job. Anyone sincerely interested in being successful at day trading (or any short term trading) will be wise to read many more books, including ones on technical analysis, psychology of trading, fundamentals, and trading strategies; there is just so much information that you need, and it cannot be covered entirely one book. This book, however, gives you all the basic info you need so that you can get started and be looking for those other books. The book is also very well written and very readable, using that comfortable and professional third-person style (i.e., there are very few "I"s in the book).
The complete guide is broken into 3 parts, each of which has several unnumbered chapters, and then there are 7 appendices in the "bonus materials." I really don't care for "About the Author" to be an appendix, but that seems to have become the current publishing style. And then there is appendix G which promotes the author's business. Although the appendix is titled "Coaching Programs", it only covers the one the author owns - he loses points for that! He also loses points for no index.
Part 1 covers the basics, discussing brokers, computer requirements, psychology, and financial constraints. Part 2 goes through 7 steps to define and hone your trading strategy. I feel he covers all the bases really well here, but one thing I did NOT like was the author's directing the reader to pick markets, time frames, and a trading approach before actually beginning to trade. At the end, however, I think it became clear that he wasn't insisting the we make these choices before we start, but instead just be clear that we should eventually make these choices and be firm with ourselves. Part 3 covers Heitkoetter's "secrets" for success. He is the first to acknowledge that these are not secrets at all, but well-known principles that need to be followed. This third section is mainly about the psychology of trading, which many will tell you is the most significant obstacle to success.
One oddity is that there appears to be two publications of this book. Both are paperback and have the same cover, and have the same publication date, but in the used market, one goes for double what the other one does. I have no idea... maybe another reviewer can explain this...???
Far from being the best book ever on trading, or being a truly remarkable book in any way, Heitkoetter's guide is a good, comprehensive, and very helpful source for the newcomer who is looking for a road map to start with. I found this at the local library and am planning to buy my own permanent copy.
3 of 6 people found the following review helpful:
 waste of money, 2009-09-18
All information that has this book is for free on-line. Its such a waste of time and money...I'm sorry that there is no money back for this ....
4 of 6 people found the following review helpful:
The Complete Guide to Financial Crisis, 2009-06-25
This book is more hype that help. It's not bad, but the tricks of the day trading game are very dangerous; don't try this at home, unless you're a trained professional. Anyone in need of this book to figure out the ins and outs of day trading better come equipped with a rabbit's foot or four leaf clover. Much luck is required in making the system work.
However, it might be okay for some investors with deep pockets; heavy losses may occur, but if you're able to navigate through the dangerous shark-filled waters long enough to hit that big home run, it may pan out for you.
However, you'd better make sure you don't lose more than you can afford; proceed with extreme caution.
Price is accurate as of the date/time indicated. Prices and product availability are subject to change. Any price displayed on the Amazon website at the time of purchase will govern the sale of this product.
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