Avoid bogus trading systems, learn from a real day trader, and make consistent profits day trading stocks Day Trading Stocks the Wall Street Way: A Proprietary Disclosure on Intra-Day Trading and Swing Trading Equities provides a real-world guide to successful day trading, and gives you the tools, techniques, and tested, reliable methods you need to trade like the pros. Written by a seventeen-year day trading veteran, this guide talks you down from the industry hype to give you a realistic grounding in self-discipline, consistency, and patience while teaching you the hard skills you need to have a real chance of success. Avoid losses by swerving from the typical beginner's path of seminars, software, and major brokerage houses, and instead develop the insights that lead to real, long-term profits. With an engaging and humorous tone, the author relates his own experiences and lessons learned to teach you the do's, the don'ts, and the ingredients for success. You'll discover Josh DiPietro's FUSION TRADING SYSTEM a proven method developed from years of reliability testing. He'll show you how intra-day setups and swing trading setups can be merged to develop a perfect trade. The surest path to failure and tremendous financial loss begins with the over-eager, overly optimistic amateur trader who sees day trading as a quick and easy path to wealth. This book gives you a much more realistic outlook, and the fundamentals you need to make the most of the market. * Get an honest perspective on real-world day trading * Gain the wisdom of experience and avoid common pitfalls * Learn the framework to Josh Dipietro's profitable FUSION TRADING SYSTEM A poorly defined trading approach will cost you more money than you will make, rendering your day trading venture a potentially damaging net loss. Day Trading Stocks the Wall Street Way: A Proprietary Disclosure on Intra-Day Trading and Swing Trading Equities teaches you the avoidance of loss, the discipline, and the transparent strategies of success, so you can play the market to win.
Author s Note xi Three Essential Prerequisites xiii Introduction xv Discovering Day Trader Josh xxv Acknowledgments xxxvii PART I MASTERING YOURMINDSET BEFORE YOU ABSORB THE SYSTEM BY DAY TRADER JOSH 1 LESSON 1 Control of Emotions and Mastery of Focus 3 LESSON 2 How Overconfidence Can Destroy Your Trade 6 LESSON 3 Dealing with Your Impatience 8 LESSON 4 Knowing When to Stop Trading 10 LESSON 5 Risk Management: Buying Power versus Capital 12 LESSON 6 Avoiding Overexposure to Market Risk 15 LESSON 7 Budgeting Your Way to Profitability 18 LESSON 8 A Realistic Look at Stop-Loss 20 LESSON 9 Day Trading Is Not Gambling 23 LESSON 10 Consistency Rules! 26 LESSON 11 News versus Noise 28 LESSON 12 When It Comes to Averaging Down, Amateurs Beware! 31 LESSON 13 What Stocks to Trade and Why 33 LESSON 14 Picking the Right Online Broker 38 PART II DAY TRADER JOSH S INTRA-DAY TRADINGMETHODOLOGY 43 CHAPTER 1 Basic Procedure 45 The Best Stocks to Trade with My System 45 Additional Reasons Why You Should Take Only 15 Cents on Each Trade 49 CHAPTER 2 Prior Price Levels and Newly Forming Intra-Day Levels 53 The Basics of One-Minute Candlestick Chart Reading 55 Get Your Daily Price Levels Logged and Organized 67 What to Do After You Have Your List of Daily High Price Levels and Daily Low Price Levels 68 Log Your Prior Price Levels on a Whiteboard Before the Opening Bell 70 Now You Start the Five-Candlestick Counting Process 74 How to Count Five Minimum Candlesticks (Chart Analysis) 75 Notes, Reminders, Cautions, and Hints of the Lessons to Come 76 CHAPTER 3 Intra-Day Golden Rules: Entry/Exit Setups 78 The Rules Explained 79 Mastering the Three-Tier Max Strategy with 100-Share Block Trades 84 Understanding the Wisdom of 15-Cent Static Profits 86 Observing the Framework of Entry and Exit Strategy with Step-by-Step Procedures and Guidelines 88 Entry Strategy 90 Exit Strategy 91 The Wisdom of Using Strategy Stop-Loss 92 CHAPTER 4 The Mechanics of FASTKEY Order Execution 96 Using Your Keyboard Keys for Rapid Order Execution 96 Placing Orders Directly from a Level 2 Quote Chart (Direct Access) 97 Executing Real-Time Trades (Manual Limit Orders) 100 Scrutinizing Both Real-Time and End-of-Day Trades with Back-Testing 102 PART III DAY TRADER JOSH S SWING TRADING METHODOLOGY 107 CHAPTER 5 Introduction to Swing Trading: Basic Rules and Procedures 109 Introducing the Ten-Day Hold Rule 111 How to Determine the First-Tier Swing Level 112 Understanding Entry and Exit Setup Rules 115 Two Key Swing Rules to Follow 118 Buying Power and Trading Experience Dictate Your Swing Strategy 121 Here s the Good News! 122 CHAPTER 6 Sample Swing Charting Setups 124 The 5 Percent Bubble 126 Swing Trade Setups 129 PART IV THE FUSION OF INTRA-DAY AND SWING STRATEGIES 137 CHAPTER 7 Introduction to Fusion Trading 139 Why Are They Not Mutually Exclusive? 140 Applying the Golden Rules 144 Deciding Your Trading Options: Intra-Day Only, Swing Only, or Fusion? 148 CHAPTER 8 Sample Fusion Trade Setups 150 Sample Fusion Trade #1 152 Sample Fusion Trade #2 156 Sample Fusion Trade #3: An Advanced Fusion Trade 160 FinalWords on Fusion Trading 169 PART V ADVANCED RULES AND PROCEDURES 171 CHAPTER 9 Maximizing Net Profits and Minimizing Losses on Overall Trade Setups 173 What Is Pivot Trading? 175 Sideline Trading 178 Earnings Release Trading 181 PART VI TRADING AND TRAININGWITH DAY TRADER JOSH 187 CHAPTER 10 My Trading Room and How It Works 189 CHAPTER 11 The Day Trader Josh Training Program 195 Program Details 196 Learning Objectives 197 What the Price Includes 199 Recap 199 About the CompanionWebsite 200 My Final Words to Readers: Warnings, Reminders, and Prospects for the Future 201 Index 207
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