Winning the Day Trading Game: Lessons and Techniques from a Lifetime of Trading
After great initial success as a professional trader, Thomas Busby was nearly wiped out in the stock market crash of 1987. Rebounding from that devastating experience, he devised an innovative risk-averse, high-percentage method of day trading that allowed him to reap enormous profits from the market while avoiding its pitfalls.Now you can benefit from his quarter-century of market experience distilled in this highly readable, deeply informative volume. Winning the Day Trading Game will show you how to mine the tremendous opportunities available in the market today. You'll learn how the author took his early fascination with trading from a part-time hobby to a full-time—and highly profitable—livelihood. You'll also discover how he bounced back from the most shattering loss of all: the loss of his self-confidence after Black Monday.Busby describes the watershed moment that changed his life. Recounting his hard-won recovery from the "dark years," he will teach you the difference between working hard and working smart. You'll understand the crucial role psychology plays in the trading game. And you'll find out why risk management—not profit-taking—must be the day trader's highest priority.In Winning the Day Trading Game, you'll learn:The importance of timing, and how successful traders know when to tradeThe "key numbers" in trading and how to use themHow learning to "read the tape" can liberate you from mounds of confusing dataHow to get your emotions under controlThe "Three T's" of tradingThe news you can use—and the news you can'tHow to study the market before you tradeHow to prepare to winWith a clearly presented analysis of key factors—abundantly illustrated with tables, charts, and engaging anecdotes—Winning the Day Trading Game will serve as a perfect introduction for the novice, as well as a clarifying, insightful guide for the established trader.As the author says, "Trading is a journey." In Winning the Day Trading Game, you'll find an indispensable guide that will enable you to reap the uncommon rewards that come to those who know how to win.