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Readers reviews of The Long Term Day Trader

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Professional traders always recognised that successful day trading is built on long term analysis. The momentum junkies survive by luck and change. The true day trader relies on skill, analysis and judgement.

As with any trading style, there are a variety of methods which can be used. Almost all of them are successful as long as they follow the appropriate rules. This book shows how traders can plan to take advantage of short term opportunities by keeping an eye on longer term developments. These short term trades are made more successfully by following a set of rules for identification and management. These are discussed at length. You might not use all of them, but they provide a good guide to how successful short term trading is structured to manage risk.

 

The book includes five interviews with five successful short term traders, including David Nassar, Oliver Velez and Linda Bradford Raschke. They all use different methods, and trade different markets, but they are united by the way they take a longer term view to identify short term trading opportunities.

 

This is a useful book, and the introduction by Louise Bedford is a good guide to traders outside of the US markets. Some of the techniques described in the book are designed to take advantage of the US Market maker system. These precise mechanics are covered in more detail in other books and traders considering trading the US market on a short term basis are encouraged to read these books for a better understanding of the nuances of trade execution.

 

 

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