Letting Your Profits Run

  xx010 So much attention and instruction given to new traders these days stresses discipline. There is no question that discipline will dictate your long term success or lack of discipline will determine your short term failure when it comes to trading. There is the discipline to admit when one is wrong in a trade and take the corresponding action to exit the position. There should be discipline to cut losses quickly. As well, ones discipline should keep them from averaging down on positions when this is not one’s original gameplan.

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Bernstein, Jake – The Compleat Day Trader Vol I

5137YG7BHYL. SL500 AA300 Day trading is Wall Street’s hottest trend and, in The Complete Guide to Day Trading Stocks, famed futures trader and author Jake Bernstein turns his attention, knowledge, and experience to the exciting world of stock trading. Bernstein covers timing systems, trend following systems, breakout systems, and more — all illustrated with chart examples based on intra-day time frames, and supported by results from his meticulous, historically accurate back testing.

Basic enough for novice traders — yet with enough detail for the most demanding market veterans — Bernstein’s book gives day traders the tools they need to succeed in this fast-paced, relentless market. Special attention is given to:
– Day trading the technology sector
– Risk management and diversification
– Little-known nuances of order placement.

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