Rating: Summary: Finally, a book on Day Trading that anyone can understand! Review: I've just read Toni Turner's book: A Beginner's Guide to Day Trading Online. It's excellent! Better than anything else I've read on this subject.I first heard about it from a friend, but, as always before I buy a book, I read the Amazon reviews to see what other readers were saying. They were so enthusiastic that I ordered the book and waited three weeks go get it -- the delay, I now assume was caused by its popularity. Ms. Turner's grasp of the complex and often dangerous mode of trading called "Day Trading" is remarkable. It's concise, down to earth, and humorous, as well. Not an easy task to accomplish on any level, but impossible had Ms. Turner not been in the trenches herself and triumphed. Thank you, Toni Turner, for writing a book I can both count on and enjoy -- a book I can proudly recommed to others.
Rating: Summary: An Excellent resource for all traders! Review: Toni Turners's book is a must for those who want an honest concise look at what Online Trading is all about. I have had the distinct pleasure to sit alongside Toni for two years and have walked away amazed at the poise and discipline that this professional brings into our trading environment every day. I too agree that much is written on this subject by those who do not have first hand knowlege of our craft and that is exactly why I am pleased to see this book! It comes from an active participant in our profession not an observer nor a "paper tiger." This book is filled with easy to read techniques and tactics that you will need as well as an honest assessment of the hard work needed as you begin to trade against the best the "Street" has to offer. This book offers a solid, clear , concise plan to start you on road toward self sufficiency and the first step in your growth as traders. This is all then grounded in just some down to earth common sense. This book,although titled for a beginner, can benefit all those who wish to further themselves as professional traders.
Rating: Summary: Beware: trading is not so simplistic! Review: Toni's book is a very good INTRODUCTION to the vast and complex world of daytrading; but please, take it from a full time trader who has lost many trades using her 'proven' methods, the book should only be that---an intro, or maybe simply a reference book for people who are simply interested in the subject. But I won't sit here and simply criticize the book; I'll give you some specifics. For one thing, her discussion of volume bars as confirmation of strong intraday breakouts leaves alot to be desired. For example, she says that volume spikes generally presage a good breakout, but the fact is, ANY breakout---real or false---will generally show a volume spike. It's kind of like saying that wherever there's fire, there'll be smoke; therefore if you see smoke, you should be aware of fire. But remember: we're trying to find the fire BEFORE the smoke when it comes to trading. Turner deftly avoids that issue when she answers her own question ('how do you find stocks before they move') by quoting the usual and obvious (buy good liquid stocks above their moving averages, etc.). Problem is, good liquid stocks may have nothing to do with making good day trading candidates unless SOMETHING is propelling those stocks to move in the short and narrow time frame that is the daytrader's domain. Another problem with her discussion of the all-important volume bars is poor and sometimes confusing illustrations and charts. For example, in some examples, volume bars are circled (the smoking guns that portend a breakout), but you can't really see a difference from other bars on the chart. In other cases, I found myself reading and re-reading through her chart examples, trying to interpret or make sense of what the author is seeing, but remained confused (if the reader is trying to make sense out of someone else's lack of clarity, something is wrong; the example should clearly speak for itself). In still other examples, the author includes 'buy' signals on charts that show apparent downtrends (I would think beginners would be confused as heck at these notations!). Try it for yourself. Go to a real time charting service and try to make sense of volume bars on an intraday chart, and you'd be better off looking at a Rubic's cube. There's just too many bars behaving too erratically to really show you anything with absolute clarity. Another flaw is Turner's citing of moving averages (MA's), and the CCI (Commodity Channel Index) as 'crystal balls' which can predict trends-to-be. Please understand: stock charts' behavior with respect to MA's are simply not the way she describes them. So called bounces off of MA's often fail as much as they succeed, and more often fizzle and crash. Moreover, the CCI will typically show many confusing signals to all but the most highly trained and experienced day traders and even then, there is no unanimity as to its effectiveness. I can refer you to a number of daytrading message boards who've had frequent discussions on the CCI and no one has yet found it to be a one-beats-all indicator. Turner, as other trading authors make the common sleight-of-hand mistake of laying out theories, AND THEN finding examples to support them by a kind of backward engineering. For example, if I were writing a book on how volume bars and the CCI DON'T WORK, I could also show you hundreds of failed breakouts betrayed by so-called bullish signals on the aforementioned indicators. Trading is one of the most difficult professions on earth. In my opinion, books like Turners' who over simplify the process by presenting information that is erroneous and potentially very costly (in the form of lost trades) don't really do justice to this complex subject and those willing to take up the battle in the most serious context possible. If you want some in depth understanding as a proper introduction into the difficulties and complexity of daytrading, I would recommend The Guts and Glory of DayTrading. THEN decide if it's right for you.
Rating: Summary: How to lose money fast Review: It's been over a year and several trading books since I first read this book. Having reflected on it and compared it to much better books, I can honestly say this book gives a poor introduction into the trading world. It does a good job at introducing trading terms and tools, but these are the least important factors beginning traders should know before they start trading. It fails to convey the overwhelming importance of a trader's psychology and strong discipline. Turner's 'you can do it, it's easy' attitude are sure to lose readers money if followed without other guidance. The patterns explained in this book are generalized, but explained in a way as though it's automatic to make money from them. If you look to learn about trading so that you can lose money quickly, buy this book and follow its methods. If you want to take the time to learn the art of trading which includes strict discipline and an unemotional mindset, start learning with Dr. Elder's "Come into My Trading Room" or Mark Douglas' "Trading in the Zone". These books will teach you how to be successful before you lose a lot of money. I've also read Alan Farley's "The Master Swing Trader". This is an excellent book for more advanced traders who are willing to take a good amount of time to digest its content. Good Luck.
Rating: Summary: A Beginner's Guide to Day Trading Online Review: Thinking I could transfer my 20+ years of quite successful investing experience to a more active trading style, I started online trading about 8 months ago. Reading this book was like reading my own journal of the past 8 months's painful experience! Reading this book before I started may not have prevented me from making those mistakes, but it most likely would have helped me recognize them once made and stopped me from repeating them over and over, piling up ever more losses! Just as she describes, the good news is you do turn a corner to profitable trades once you learn some very basic but important lessons. This book can shorten that time for beginners. Her section on Boot Camp is very good. Her system has rank beginners learning and up and running in 2 weeks what took me about 3-4 months to discover from everyone who would teach me. There's also more than enough technical strategies presented which traders from beginners to more experienced ones can apply and use daily. Her light humorous style makes this easier to read than most trading books without detracting from the serious message. If my sister or a good friend wanted to start trading, this would be the book I'd give them to read first.
Rating: Summary: Snake oil, smoke and mirrors Review: In the old days, traveling salesmen would sell snake oil to unsuspecting customers lauding the product as a cure-all for everything. Stage magicians at sideshows would fool audiences with smoke and mirrors. This is my impression of Toni Turner's book, A beginner's Guide to Day Trading Online. It is written in a juvenile and almost hysterical manner by which she punctuates every other sentence with an exclaimation mark. Not everything you say, Toni, is a revelation. Duh. I found the book full of smoke and mirrors. She sets up phony examples to bolster her methods for day trading. The parts about reading charts and interpreting data are so skewed and confusing that anyone following her advice will be sure to lose money. The bottom line is that she has been lucky. Her methods for sucessful trading are standard *guideline* methods in day trading circles. She has elevated these rules of thumb to the status of sure-fire fact. I found her book insulting and condescending to her readers. If anything, she has shown people that her own ego is much too inflated to be an objective teacher. Avoid this book and stop her from leading new traders down a path of destruction. One thing for sure, she has found out that snake oil does sell well...
Rating: Summary: useful only for a minority Review: The lessons of this book can be valuable, but will not make of you a wise investor. I have known people who theoretically knew about mathematics, but most of them knew only a poor few tricks to solve roughly some counts without any sense of the logics subjacent. Sometimes simply there are good luck, and the problem solves well, but when not- when real talent is necessary- the results are disastrous. In extrapolating that, if you belong to that class of professional, no matter if a trader, of lawyer, physician, chemist, etc, etc, this book only will serve you to fall in dire straits because in Stock Market you play for yourself, with your own money and nobody will protect you, who must know and understand at less some basic ideas about politics, economics in general and many other factors that go beyond the managing of the some computer graphics. No book in whole world can teach you common sense nor instinct.
Rating: Summary: A difficult book to read through Review: I was curious to see what this book had to say about day trading after reading some of the glowing reviews on this book and was somewhat let down by the contents of this book. Toni Turner, uses basically the first half of her book as a platform to be a motivational speaker. She talks about not to get discouraged and even delves into some zen-like/mojo philosophy about the process of daytrading. I found the first half of the book difficult reading because she uses many day trading terms in her stories without giving a clear explaination about what the terms mean. Typical examples are references to "going long or short" on stocks without elaborating on what these terms mean. While she does a fairly good job of bringing personal experience in her writing to explain certain points, the style of her writing is hyper. I had the distinct feeling as if she were yelling at her reading audience. Many of her points could well be established in a more adult manner without all the adrenalin. The second half of the book goes heavily into reading and understanding charts. This part of the book is crammed with graphs and examples to explain how to interpret data. The data are handpicked by her in order to prove certain points, but seems rather counterproductive due to the fact that her examples only occur in perfect circumstances. Instead of relating that these are perfect examples of what could happen, she approaches these occurances as though they were the norm. This is misleading as new traders, such as myself, may get into a lot of trouble thinking that these are hard and fast rules. While there is a lot of information about charts here, much of the information is a little hard to understand because she forgets that she is writing to a beginner's audience. As a result, the explainations get technical and leave the reader wondering what just happened. As an introduction to the mechanisms of day trading, I would say that this is an average book. The editing needs a lot of work in order to make the data in the book more clear and understandable. While it is obvious that she is very enthusiastic about day trading, I believe that there were too many holes in the production of the book to be truly helpful for a beginner.
Rating: Summary: Emotional author Review: Why does he have to use the exclaimation mark "!" every 2 or 3 lines? If you have heart condition, beware.
Rating: Summary: Excellent Day Trader's Starter Guide Review: This was the first book I used on my journey to mastering the art of day trading. I've realized most of the strategies and techniques outlined in the book. After a rocky start(I began with my share of losses)and 2.5 years later of full time day trading experience, I am finally consistently profitable in the stock market. I've learned the less you trade and the more time spent researching before hand(the candlestick charts are key), the better trader I've become. Toni Turner gives an excellent introduction to candlestick charting in her book. I also recommend reading "Japanese Candlestick Charting Techniques" by Steve Nison to expand upon the topic.
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