The Guts and Glory of Day Trading: True Stories of Day Traders Who Made (or Lost) 1,000,000
- Book Review,
by MARK INGEBRETSEN
Book Description
Jump Into the Day-Trading Trenches and Sharpen Your Own Survival Skills
Every battle has its winners and losers. Every day, thousands of day traders take their battle positions in front of their computers to go head to head against the world's best, and most powerful, trading institutions. There are casualties—many casualties. But there are also victories—moments when an individual trader reaches the pinnacle of our capitalist system to take a profit from the market.
Making money isn't easy—with a 75 to 90 percent failure rate, only the strong survive, and only the most savvy live to trade another day. But despite the negative press, a wildly unpredictable market, and the possibility of losing their shirts on any given trading day, these market mercenaries continue to trade, and day trading continues to grow as a profession. What drives them? How do they do it? What are their secrets? In The Guts & Glory of Day Trading, you'll read the astounding stories of those traders who have been skilled enough to make significant money, and the gut-wrenching dramas of those who were unfortunate enough to lose vast fortunes.
Whether you're a trader yourself or just a casual investor, their stories and strategies will keep you on the edge of your seat. The valuable lessons from this trading dozen tell more than just the pits and peaks of stock trading. They teach the survival skills and tactics necessary to live to trade another day. You can learn how to improve your own trading or investing techniques by learning what most of them did right—and what some of them did wrong.
"An excellent successor to Jack Schwager's Market Wizards. I highly recommend it to anyone serious about trading and investing." —Zhiwu Chen, professor of finance, Yale University School of Management
"Mark Ingebretsen subtly debunks the worst day-trading stereotypes. The stories offer real-life lessons that any trader can profit from." —Jamie Heller, editor-at-large, TheStreet.com
"Invaluable reading for anyone who considers making money in the stock market a priority." —Kris Skrinak, general manager, ClearStation.com
Book Info
A collection of twelve true stories of ordinary people, not professional investors, who have made or lost at least one million dollars trading stocks. Shows how to improve trading strategies and avoid making the mistakes they made.
From the Inside Flap
Jump Into the Day-Trading Trenches and Sharpen Your Own Survival Skills
Every battle has its winners and losers. Every day, thousands of day traders take their battle positions in front of their computers to go head to head against the world's best, and most powerful, trading institutions. There are casualties—many casualties. But there are also victories—moments when an individual trader reaches the pinnacle of our capitalist system to take a profit from the market.
Making money isn't easy—with a 75 to 90 percent failure rate, only the strong survive, and only the most savvy live to trade another day. But despite the negative press, a wildly unpredictable market, and the possibility of losing their shirts on any given trading day, these market mercenaries continue to trade, and day trading continues to grow as a profession. What drives them? How do they do it? What are their secrets? In The Guts & Glory of Day Trading, you'll read the astounding stories of those traders who have been skilled enough to make significant money, and the gut-wrenching dramas of those who were unfortunate enough to lose vast fortunes.
Whether you're a trader yourself or just a casual investor, their stories and strategies will keep you on the edge of your seat. The valuable lessons from this trading dozen tell more than just the pits and peaks of stock trading. They teach the survival skills and tactics necessary to live to trade another day. You can learn how to improve your own trading or investing techniques by learning what most of them did right—and what some of them did wrong.
"An excellent successor to Jack Schwager's Market Wizards. I highly recommend it to anyone serious about trading and investing." —Zhiwu Chen, professor of finance, Yale University School of Management
"Mark Ingebretsen subtly debunks the worst day-trading stereotypes. The stories offer real-life lessons that any trader can profit from." —Jamie Heller, editor-at-large, TheStreet.com
"Invaluable reading for anyone who considers making money in the stock market a priority." —Kris Skrinak, general manager, ClearStation.com
About the Author
Mark Ingebretsen, a veteran journalist covering business and finance for over 20 years, first chronicled the Nasdaq's inner world in his book The Guts and Glory of Day Trading. His financial columns have been featured on TheStreet.com, and his articles have appeared in a number of national publications, including Esquire, Sports Illustrated, Chicago, Outside, and the IEEE Spectrum.
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