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Description:

This revised edition of the bestselling book focuses on the real-time market characteristics, psychological considerations and changing technologies required to make more winning trades. Traders can discover high-profit insights into the dramatically changing face of day trading, including profiles and secrets from top traders and market experts.

The meteoric rise of electronic trading has swelled the ranks of day traders to unprecedented numbers. However, without the psychological or technical background to be successful, many traders can lose their life savings in this challenging and often volatile market. To have an advisor and mentor with nearly 30 years' professional trading experience willing to share his insights offers an extraordinary opportunity for both novice and experienced day traders to learn the ropes and profit.

In the revision of this best-selling classic, Howard Abell reveals his secrets for a successful trading strategy that takes into account the real-time characteristics of dynamic markets, the psychology of its participants, and the changing technologies required to make more winning trades. Inside The Day Trader's Advantage, readers will find a wealth of proven, profit-making strategies, including how to:

- Develop an active trading strategy for profitable returns in different market conditions

- Identify short-term and longer-term opportunities

- Distinguish high-risk from low-risk trading

- Combine technical analysis with market strategy into an effective trading method

- Accurately predict the best market entry and exit points

- Think like a winning day trader, as illustrated by interviews with successful pros

- Take advantage of day trading opportunities in both equities and futures

- Use the discipline, self-confidence, and self-control necessary to work your systems

- Master the psychology of overcoming adversity, fighting negativity, and controlling emotions-before they control you!

The revised edition of The Day Trader's Advantage is based on Howard Abell's three decades of personal trading success, intimate knowledge of the psychology underlying successful short-term trading, personal work training successful traders on and off the exchange, as well as interviews with hundreds of the most successful traders in the world.

Remember, in order for a day trading system to be successful, it must be profitable, consistent, and personal. No day trading system is perfect; however, the use of one is critical for trading success. As a trader, you must be guided by an overriding and all -encompassing trading strategy that takes into account the real-time characteristics of dynamic markets and your own psychology. Let The Day Trader's Advantage be your road map to profits and self-confidence!

Table of Contents:

Foreword vii
Preface xi
Acknowledgments xv

PART ONE Psychological and Strategic Considerations

1. The Psychology of Successful Day Trading 3
2. Overcoming the Psychological Barriers That
Hold Most Day Traders Back 15
3. Strategy and the Overall Game Plan 25
4. Competing with the Market Makers 31

PART TWO Technical Analysis and Day Trading

5. Market Analysis and Day Trading 43
6. The Innergame Trading Approach 51

PART THREE Expert Perspectives on Day Trading

7. Bill Williams 85
8. Robin Mesch 103

PART FOUR The Top Traders

9. Mariano Mendoza 117
10. David Silverman 129
11. Larry Rosenberg 149
12. Toby Crabel 161
13. Mei Ping Yang 173
14. Bob Koppel 183
15. Jeff Jensen 197

PART FIVE Winning versus Losing

16. How Winning Day Traders Think 211
17. Principles of Successful Day Trading 217

For Further Reading 221
Index 223
About the Author 229