Stock Trading Wizard : Advanced Short-Term Trading Strategies for Swing and Day Trading
Trading securities isnt easy, but Tony Oz can sure make it seem that way. In his groundbreaking new book, Stock Trading Wizard, Tonys many years of experience are evident on every page. His hard-earned wisdom and keen understanding into the tricks, traps, and manipulations of the Market, combined with proven success strategies for meeting these unique challenges, provide the reader with a powerful arsenal of strategies, techniques, and methods that no serious trader, who wants to survive in this business, can afford to be without.The heart and soul of Tony's book is classic technical analysis, which has proven its viability repeatedly since Charles Dow began charting the Market 100 years ago. Tony explains the basics of chart reading, then reveals his most successful chart patterns, and explains how to trade them. This chapter alone can save you months of study and testing, as Tony gets right down to the essential details needed for a reliable trading system, complete with how to read and interpret each chart, and how to enter and exit for maximum safety and profit potential.Next comes the most thorough explanation of Level II I have seen in print. Complete with detailed graphics, Tony explains what Level II is, how it works, how to read it, and how to perceive and anticipate the infamous tricks and traps of the mighty Market Makers who are competing against you. Learn how to utilize the Time and Sales screen to determine the hidden manipulations of the Market Makers, and the all-powerful "AX" who controls the show, but hides his movements and intentions from everyone but those who have the knowledge presented in this important chapter.I have talked with many traders who understood when to buy and sell, yet still lost money due to poor order execution. Tony reveals the strengths and weaknesses of the all the routing methods of execution available with the popular and robust Real Tick III trading software, which has become the de-facto standard of serious traders. Learn when to route your order to SOES, ARCA, ISLD, ECNs, and ISA, and more importantly, when NOT to. Tony reveals which order route is better under different circumstances, and how to avoid being lured into a time or capital wasting action by the often deceptive numbers on the Level II screen.Tony puts it all together in his section, Trading for a Living, where he teaches practical application of money management and psychological strategies, including how to manage your account for safety and peace of mind, how and where to research to find the high potential trades, Tonys formula for calculating the risk/reward ratio to determine whether to enter or avoid a trade, worksheets for planning and tracking, and more.As an added feature, Tonys Trading Case Studies describes in vivid detail, the blow-by-blow movements of the stock, the Market, the Market Makers, and his own thought processes, from entry to exit. If you have ever wanted to stand over the shoulder of a master trader, this is a great method for doing so.Stock Trading Wizard is full of examples, illustrations, anecdotes, and the wisdom and insight of a master trader. I have never seen a book that included so much solid information, given so freely. This book should be part of every traders bookshelf. Its like having a well-chosen trading library all in one book, with no fluff, no filler, just page after page of powerful information and insight. --Richard LaPoint, aka "SanSoo" - Founder, Day Traders USA Chat Room