Financial Freedom Through Electronic Day Trading | Van K. Tharp, Brian June

Financial Freedom Through Electronic Day Trading | Van K. Tharp, Brian June | Written like a classic

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	Financial Freedom Through Electronic Day Trading Van K. Tharp, Brian June McGraw-Hill, 2000 - 388 pages average customer review:based on 28 reviews view larger image
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highly recommended

Indispensible

The most important chapter in the book that I found was chapter 3, that of developing a business plan. Of course every chapter had great information, however, without a plan you can't expect to get anywhere, or make any money for that matter. His first book was excellent, his second book is equal. Start with the first and only after you fully understand it read, I mean, DO this book. Only if you do the exercises with a notebook will you gain anything!

Written like a classic

This one reads like a traders bible. Covering every aspect of Day Trading, from computer and communications setups, to specific strategies that can be traded right now. Also covers psychological aspects faced by day traders and strategies to use to break free from mental traps. Includes little known Market Maker strategies and how to profit when you see the subtle clues.

If you believe in being prepard, having an edge and if you believe that your mind influences your trading then this book will be essential to you. This book is for people that are interested in trading as a business, which is covered in it's own chapter.

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Good, but a disappointment compared to Tharp's classic

Van Tharp's earlier book, Trade Your Way to Financial Freedom, ranks with Market Wizards as a trading classic. Like Market Wizards, Tharp showed how the true "Holy Grail" of trading is to develop your *own* system, one which is perfectly suited to your own goals and needs. (I know it sounds wishy-washy... but believe me it's anything but.) Not only that but, unlike Market Wizards, Tharp showed you step-by-step how to actually do this! The result was, while far from perfect, one of the most amazing and probably the single most useful book on how to become a successful trader. I was hugely excited when I (a day trader) found out that Tharp's next book would be about day trading. Alas, it turns out to be a disappointment. It's not bad as such, only nowhere near the same level. Specifically, this book consists of: (1) material by Tharp that covers the same ground as before, only in less detail; (2) an overview of the basics of day trading, such as how to read Level II screens; (3) occasional insights and ideas which you might not find elsewhere. So here's what I would recommend. If you don't already know (1), run (don't walk!) to get Tharp's earlier book; don't even think about buying this one instead. If you don't already know (2), this book is a pretty good introduction to day trading, better than most that are out there. Lastly, is the book worth buying for (3)? It sort of depends. If, like me, you love to devour books about the markets, and believe that they more than pay for themselves if you get even one new tradeable idea -- then sure, buy it, just don't expect too much. If, on the other hand, you only want to spend your time and money on the very best books, well, this is no must-have. I like both authors, and they do know what they are talking about, but this book is far from the best that either is capable of. It shows all the signs of having been put together hastily.

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reviews: 1, 2, 3, 4, 5, page 6

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