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

Josh DiPietro

May 2009 · Sold by John Wiley & Sons

About this ebook

The Truth About Day Trading Stocks

A realistic guide to day trading today's stock market

In terms of the potential for heavy financial losses, day trading is a high-risk profession. No one should contemplate day trading without giving thought to the ways he can lose, and all the ways to lessen or avoid them. Yet many people enter the game with unrealistic expectations, unaware of what it takes to succeed. Seminars and software alone do not make a successful day trader, cautions author Josh DiPietro. Instead, a trader must learn hard lessons of self-discipline, consistency, and staying in the game for the long haul to have a real chance of success. In The Truth About Day Trading Stocks, DiPietro offers the amateur day trader a brutally honest look at the pitfalls of day trading and how to hopefully avoid them.

Written in an engaging and sometimes humorous tone, The Truth About Day Trading Stocks draws on the author's own experiences as a day trader to offer a clear-cut departure from typical "golden goose" strategies promising instant wealth. Instead, he attempts to slow down the dangerous fervor of the average amateur and demonstrate the ways you can become a professional and not lose your shirt in the process. The Truth About Day Trading Stocks shows how trading decisions are bent and shaped by emotions, and why it is critical to know yourself, understand risk, and remember that increasing your skill level is a gradual, ongoing process there's always more to learn! After dispensing with popular illusions, DiPietro proceeds to offer realistic, practical trading advice comparing pay-per-trade with pay-per-share brokers, determining which works best and when, offering suggestions on how to avoid the prospect of perfect trades turning ugly, and more. At the end of the book, he also includes a section called "Rules to Remember," a list of over eighty rules, simply stated and easy to grasp, to benefit amateurs' performance.

Throughout the book, the author describes his development of acute self-awareness while figuring out how to succeed. Through that blunt self-portrayal, the goal of The Truth About Day Trading Stocks is to help you create a disciplined mind-set and apply it to your own successful trading style.

Ratings and reviews

"The Truth" is most definitely what this intra-day trading stocks book is all about. I have been a struggling online day trader for about four years now. The stock market has been a complete nightmare for me. I have been reading a lot of books lately, and The Truth About Day Trading Stocks has been the one that stands out the most. Josh DiPietro, Day Trader Josh, really knows the hard side of day trading stocks. I feel like he is in the trenches with all of us amateurs. His advice is straight-up, he holds no punches. If you are looking for a day trading stocks book that is gunna show you how to make loads of money with some proprietary trading strategy, then this is not the book. Josh purposefully sways from giving the "golden goose" of strategies that will turn you into a millionaire overnight. He teaches just the opposite, he shows the hang-ups to day trading, he shows all the pitfalls and landmines. This book should be a requirement for all beginner day traders. Unfortunately, many beginner day traders think they are advanced. I strongly suggest all degrees of day traders read this book, especially if you have not yet figured out why you can't generate consistent profits.

AÀA BOSS NETWORK

About the author

JOSH DIPIETRO has been day trading stocks for ten years. He operates a web site (www.daytraderjosh.com) and provides training programs for aspiring day traders. DiPietro's trading approach involves making many trades every day, taking small profits, exiting losing trades quickly, and minimizing transaction costs. He is a critic of the educational paths offered by the established trading industry and is dedicated to providing an alternative educational approach for aspiring traders.