Financial Freedom Through Electronic Day Trading

Investors are racing to the Web in record numbers as the day trading mania goes mainstream. According to a recent Newsweek article, there are more than half a million trades a day (this includes all electronic trades), and the line between online trading and day trading is becoming increasingly blurred. Efficiency, affordability, and a feeling of excitement are quickly drawing traders into the Internet but investors need to know there's more to day trading than just “point and click.” To stay on top of the market, traders need to learn the key principles of electronic day trading.Van K. Tharp, well-regarded as the psychologist for traders, brings the powerful vision of Trade Your Way to Financial Freedom into the world of electronic day trading. With Financial Freedom Through Electronic Day Trading, the follow-up to the highly successful Trade Your Way to Financial Freedom, Tharp combines his mastery of the psychology of trading with co-author Brian June's expertise in electronic day trading. Together they uncover the hidden strategies and information needed for success in the day trading market.Based on the foundation that there is no universal strategy that works for all traders, Tharp and June present practical ideas for developing an individualized trading system for electronic day trading. They take the focus away from when to buy, when to sell, and at what prices and show investors how to use psychological preparedness and expectancy to gain a trading advantage. This valuable book presents the principles behind profitable electronic day trading, from little-known day trading setups, entries, and exits to the psychological skills to break losing habits and win consistently.

Key features

• Specific techniques for determining a market makers position.
  
• Momentum trading strategies.
  
• How to use R multiples.
  
• Summary checklists to track progress.
  
• Comprehensive coverage of the best day trading software
  

Contents

How to develop a "laser-guided rocket" to trading success

• The journey to trading mastery
  
• Prepare yourself for trading heigts
  
• Design a plan even Goldman Sachs might envy
  

Putting the "laser-guided rocket" together

• The trader's toolkit: essential secrets for getting the most from your hardware and software
  
• Understanding the golden rule of trading - R multiples and expectancy
  
• Position sizing: the key that makes it all work for you
  
• Prelaunch preparation - your daily routine

Launching you trading rocket

• The trading day liftoff: navigating trade by trade
  
• Market-making strategies
  
• Momentum strategies

Feedback and maintenance

• Common mistakes everyone makes - and how you can avoid them
  
• Getting feedback and refining the process
  
• Peak performance trading - the keys to gaining control of your trading