When it comes to investing, there are seemingly endless options on the market to help us better educate ourselves on how to do so effectively and successfully, with Day Trading for Dummies presenting a fine option to learn how to earn money day trading.
What Is Day Trading for Dummies?
Day Trading for Dummies is a book on how we can take advantage of the ever-changing market by engaging in the exciting practice of day trading.
When endeavoring to invest our money wisely, it is essential that we do so with proper knowledge and guidance. As with any investment activity, day trading is not without its risks, and thus to effectively navigate the risk and receive the reward, knowledge is essential. Day trading can be one of the most exciting ways to earn money, and it can be quite fast at that given the nature of the practice. According to the authors of Day Trading for Dummies, "Before you begin, you need three things: patience, nerves of steel, and a well-thumbed copy of Day Trading for Dummies. Read on to learn how the book can help you.
Day Trading for Dummies is a book that is meant to provide us with the basics of day trading from a beginner's perspective. The book is written in plain-English and first shows us how day trading works. To assist us in achieving success, the book also takes the time to highlight the most common sources of difficulty that are encountered in day trading environments. The book provides advice on how to decide upon an investment broker online to support the day trading speed and also has a variety of information on economic conditions upon which to found investment decisions.
The book moves us through the complexities of day trading in a linear nature. Day Trading for Dummies begins with an outline of what it is to be a day trader to make sure that our decision to become one is correctly informed. Planning is covered in-depth as it is a central element in the achievement of success in day trading. To trade effectively, we must learn what to trade and how to trade it, with the book providing this in-depth as well. Understanding the implications of the regulatory environment is important for day trading, which is also presented by Day Trading for Dummies.
To effectively engage in day trading, one must first recognize what stocks are. One of the key benefits of Day Trading for Dummies is the foundation of such knowledge that it provides. The everyday individual interested in investing may not know exactly what the NASDAQ is, or understand how a profit can be made in only a few short hours by buying then selling shares. Understanding what is promising, what is risky, and when to make a decision are all factors that are covered in depth within this particular book. Day Trading for Dummies provides all the key data to make informed decisions, however risky they might be.
The cost of books such as Day Trading for Dummies and others is generally $20, with this book being no different. On Amazon, this particular book is just over $17, a competitive price that is well within the range of comparable products.
How It Compares
To determine the value of Day Trading for Dummies and the quality of the content, we picked a couple of similar products available on the market to see how they compare. Through a consideration of the following books, we'll consider other options to better understand how to engage in day trading successfully.
- A Beginner's Guide to Day Trading Online
- How to Day Trade for a Living: A Beginner’s Guide to Trading Tools and Tactics, Money Management, Discipline and Trading Psychology
- The 1 Hour Trade: Make Money With One Simple Strategy, One Hour Daily (Langham Trading)
Where To Buy
Day Trading for Dummies
Day Trading for Dummies is a comprehensive guide on short-term investments. It provides all we need to know to first understand what day trading is, and then what we must do to engage in successful day trading in the modern market. It teaches the way in which increases in risk can be leveraged to yield greater rewards. Easy profits are the goal of day trading, but achieving them is not as easy as one might think, with Day Trading for Dummies covering this essential area in-depth. You will also benefit from information on taxes, reasons to avoid day trading, and additional resources.
Price – $9.44
Priced at $17, Day Trading for Dummies is right within the main range of cost for investment books of this type.
Ease of Use
Using Day Trading for Dummies is intuitive, with the table of contents providing oversight as to the many topics covered therein. The content is ordered in a logical manner, and is sufficiently comprehensive to cover all the major areas of day trading and investments.
What differentiates the subject matter of Day Trading for Dummies from the competition is the fact that it is fully comprehensive and covers not only the reasons to engage in day trading but also the reasons to not engage in day trading. Engaging in investments is a risky endeavor, and this book provides all the essential information
Day Trading for Dummies comes in an accessible format that mirrors the other releases of the "For Dummies..." series.
A Beginner's Guide to Day Trading Online
The book is a comprehensive guide to day trading that moves through the history of the practice, covering not only the immediate benefits of day trading but the history of Wall Street upon which the practice is built. The book also provides a basic education concerning the New York Stock Exchange to lay the foundation of modern-day trading. Trading fundamentals are presented followed by a presentation of the importance of heeding trend assessments when determining which stocks to ultimately invest in. While losses may occur from time to time, the book encourages us to make the best of them by learning to not repeat them.
Price (Approximate only) – $13.19
The approximate price of A Beginner's Guide to Day Trading Online is $12 for the paperback or $13 for the Kindle edition. This is one of the cheaper options available for information on how to engage in day trading and focuses upon the online environment.
Ease of Use
The book is presented in an organized and straightforward manner.
Given that a majority of day trading takes place online nowadays, the focus of this book is particularly relevant and timely.
The presentation of the book was a bit brighter and more straightforward than Day Trading for Dummies, with its focus on the internet adding value to its content. The book even provides an overview of the earlier titans of Wall Street trading before moving into the modern environment.
How to Day Trade for a Living: A Beginner’s Guide to Trading Tools and Tactics, Money Management, Discipline and Trading Psychology
This particular book presents a comprehensive guide to trading, including a variety of trading tools, tactics, and elements of money management discipline. The book goes a step further to also provide a significant amount of information on trading psychology. This is an important factor to take into account when engaging in day trading. When we are turning a profit and winning on trades, the gambler’s mentality can take hold, leading us into taking greater risks than we otherwise would as a result of short-term successes. This book provides the framework needed to succeed in day trading.
Price – $12.91
The price of this particular book is right in the median at $15 for the paperback, although the Kindle version is markedly lower than the competition, coming in at around $4.
Ease of Use
The book is organized in a linear fashion and is quite easy to move through. The book begins with an introduction on how day trading works, and increases in complexity as it moves forward, building upon the earlier content.
The subject matter that is presented within this book effectively covers all the essential areas of day trading. It teaches us how to identify stocks to trade towards and with, what indicators to watch out for, and other key facets to pay attention to.
The presentation is a bit drier than the other books, although it is entirely logical, linear, and effective in conveying the information delivered.
The 1 Hour Trade: Make Money With One Simple Strategy, One Hour Daily (Langham Trading)
Of the many books explored, this particular book presents us with a strategy on how to make the most of our day trading investments in just a single hour's time. Often when investing individuals may take a significant amount of time to move their investments. This can lead to marked losses in the long-term, which can be frustrating and lead to less investment overall, or lesser intelligent decisions. When investing isn’t generating the kind of return we were hoping to realize, we can shift strategy, which is what The 1 Hour Trade teaches us to do.
Through the maintenance of effective strategy and sticking to it, short-term investments can be capitalized upon to generate a positive return in quick order. This book teaches us how to make large gains on the stock market through extremely short-term investment opportunities. We learn how to scan in real time to determine which stocks stand to make a substantial intra-day gain. Intra-day gains are those realized within the period of a single day and no longer. We will also learn how to identify areas that allow for optimal exits through which profits can be maximized.
Price – $13.99
The price of this particular book is just $13, with the Kindle edition free for Unlimited members. The cost is not inhibitive, and the way in which the content is presented is quite friendly.
Ease of Use
The book is clearly organized in a linear manner that makes identifying risky stocks for quick profits through daily turnarounds relatively quick. Recognizing the interrelationship between price and time is how profits are realized, and this book provides a straightforward means of finding the sweet spot where risk is minimized and profit potential is pushed to the maximum.
The subject matter is comprehensive, although it is a bit lacking in terms of fundamental information. For those without a basic understanding of the stock market and investing, this particular book may present more of a challenge than a blueprint for success.
While the book is presented relatively well and is straightforward, it is lacking in detail within the table of contents. Rather than providing a summary of what the chapter contains like with the other books assessed, this book has simply a listing of chapters, without even proving the page numbers for reference. This leads to some rifling around through pages when seeking out particular information.
Overall Day Trading for Dummies is a fine reference book through which we can engage in day trading with greater confidence and knowledge with the competing options presenting viable alternatives, although none with such a broad and effective presentation as Day Trading for Dummies. This is why we have chosen this as the top pick from our list.
Last update on 2021-01-15 / Affiliate links / Images from Amazon Product Advertising API