A Beginner’s Guide To Short-Term Trading
Short Term Trading Strategies:
“A Beginner’s Guide To Short-Term Trading” by Toni Turner is an excellent book for the more active investor looking to hold positions for 3 days – 3 weeks. Toni Turner has been a successful investor and trader for many years, and is the president of Trendstar Trading Group. More information about Ms. Turner, Trendstar, and her books can be found at www.toniturner.com. Before giving you my opinion on the book and the strategies within it, here is some info from the back cover:
“Tired of playing the waiting game with the same stocks year after year? Savvy trader Toni Turner shows you the ins and outs and the ups and downs of short-term trading. She’ll have you buying and selling on a monthly, weekly, or even daily basis so that you have the right stocks at the right time. Ms. Turner’s clear advice, easy-to-follow explanations, and helpful charts can get you started right away in the highly profitable world of short-term trading.
A Beginner’s Guide To Short-Term Trading is a hands-on book designed to make you actively involved in every step of the trading process. Now you can take control of your portfolio and secure the financial freedom you’ve always dreamed of. Start planning your trades today!”
In summary, this book explains how to:
- Swing trade (2-5 days) and position trade (4-6 weeks) for optimal profit results
- Monitor industry groups to locate the best stocks
- Achieve the “winning mindset” so important to succeeding as a short-term trader
- Set up your trading business
- Spot high-probability set-ups for trade entries and exits
- Take gains from “sweet spots” in uptrends and downtrends
- Figure risk-reward ratios to minimize losses and maximize gains
I have been a successful options trader for a long time, and I figured that expanding my knowledge to encompass chart reading and basic swing trading would improve my option plays. This book did much more than that. After studying “A Beginner’s Guide To Short-Term Trading” I did some paper trading using the strategies found in this book (trading stocks, not options). The results were so encouraging, I decided to dedicate some of my trading funds to swing trading. So far I have a winning record of 7 successful trades and 4 unsuccessful trades. This might not look that impressive but consider this. This book provides excellent strategies to exit winning trades for huge profits, and exit losing trades for very small losses. None of my losing trades exceeded 5% of my initial investment, and ALL of my winning trades exceeded 5% profit. Do the math – these strategies are highly profitable (so far). I know my sample size is too small to move all my funds to this strategy, but the results so far are convincing enough to allocate a bit more of my portfolio to swing trading.
My favorite chapter by far is chapter 12 – “Winning Strategies For Selling Short.” The main reason why I love selling short is that stocks fall much faster than they rise. Fear is stronger than greed. This book covers all the indicators, chart patterns, and setups for selling short. The next chapter, “Anatomy Of A Trade,” is a close second to chapter 12. Ms. Turner takes you through EVERY step of a trade – with incredible detail. It is basically a nice, clear summary of what we should have learned from the book. How to choose a sector, then a stock within that sector, then when to jump into the trade, when to get out, etc…It is very well written and a very exciting journey.
Here is my final word – BUY THIS BOOK! Even if you decide that short term trading is not for you, the knowledge you will take away from this book will help you with any investing strategy you choose.
Purchase this book for a very reasonable price at Amazon: A Beginner’s Guide to Short Term Trading: Maximize Your Profits in 3 Days to 3 Weeks
If you put in the time and work, the short term trading strategies found in this book are sure to improve your trading.