Product Description

This book describes the trading strategies used by a professional stock trader in his own trading. The ideas come both from friends who are successful traders as well as his own experience with SOES trading. The collection of trading patterns described represents one of the first full-fledged books of instruction on short term, swing and day trading in individual stocks. The author's intraday trend trading approach and his scalping method are both described in detail. He uses the setups daily in his own trading. This manual should prove valuable to the thousands of short term stock traders who seek to make their living from speculating on short term price swings. It is a toolbox for finding high probability trades for success as you trade the stock market. The technical ideas are primarily crafted around the personality of the NASDAQ market but may also be implemented in New York trades.

Product Details

• Amazon Sales Rank: #100606 in Books
• Published on: 1999-04-06
• Original language: English
• Number of items: 1
• Binding: Hardcover
• 224 pages

Review
At last! A real book from a real trader! This doesn't belong on your bookshelf, but under your pillow. -- Neal Weintraub, Instructor & Floor Trader at Chicago Mercantile Exchange

Barry's chart patterns & trading tactics have been used by professionals for years. These skills can reap great rewards. -- Oliver L. Velez & Greg Capra, Editors of The Pristine Day Trader

Rudd's book illustrates chart patterns of top traders. They provide a solid foundation in technical analysis for day trading. -- Marc Friedfertig, Managing Member Broadway Trading, LLC & Author

About the Author
Barry Rudd, a native of Dallas, graduated with a BS in Psychology from Texas A&M University. Barry worked in the area of pharmaceutical sales after college. Over a ten-year period he traded stocks, options and futures on a part-time basis and finally became a private full-time investor. He currently day trades stocks, primarily NASDAQ issues, for a living. He has studied all forms of technical analysis and has found "Simplicity is your friend. I rely primarily upon specific daily and intraday price patterns to trade."

Customer Reviews

Charts are the foundation of all daytrading systems
I've spent in the neighborhood of $500 on daytrading books in the past 12 months. If I could only purchase one daytrading book this would be the one. Over the past year of daytrading I've learned the three best tools for timing trades are 1 - real-time charts 2 - level II quotes & 3 - time & volume of sales. This book has more examples of charts than the other 10 daytrading books I own combined (that doesn't include Barry's second charting book which I also highly recommend). This book is all about keeping things simple. Forget about stochastics, MACD, & all the other things recommended in the Compleat Daytraders I & II books. Barry believes in the KISS method. Keep it simple stupid (thats my paraphrase of what he recommends).

Part of my enthusiasm for Barry's book has to do with my trading results before & after reading his book. Because his book was more expensive than others available I purchased some of the less expensive, introductory, daytrading books. I started trading & over about 7 months lost approximately $7,000. In the past 5 months (since purchasing Barry's book) I have become more patient waiting for the correct chart formations & have become a profitable, part-time daytrader. The $7,000 loss I had 5 months ago has turned around and become a $53,000 gain.

Some of this turnaround is naturally a result of my maturation as a trader. Everyone writes about having to pay one's dues, so to speak, to get an education in daytrading. I certainly did. However, if I could pinpoint THE major turnaround in my trading activities, it would have to do with reading Barry's book.

Can I give this book six stars?

Less than impressed
I purchased this book based on the glowing reviews that it had received. I have a different opinion after reading it. This is what you receive for your 95 bucks: advice to buy breakouts and about a hundred charts showing what breakouts look like. I believe you can get this knowledge free on the net. The vast majority of this book is pictures of charts that show breakouts. A more reasonable price for this book would be 19.95. At 95.00 it is way overpriced. If I would have looked at this book first at a bookstore, I would not have bought it. The value is not there. If the book was priced reasonably, I would not be writing this review.

Can this book make you a better trader? Perhaps, but there is free information on the net that is better. Another reviewer represents the daytrading university. I looked at that site and it looks like the 69 bucks for 4 months enrollment there would be money better spent (disclosure: I have nothing at all to do with them, I might enroll if I can get my money back for this book)

Before you spend your money on this book, buy Tony Oz's book and Dr. Elder's "trading for a living". In my opinion these are two far superior books. Both of these high priced books are well worth the money. You gain knowledge that is not available anywhere else.

I hope the author does not take it personally, but when you price a book at a hundred bucks, you better deliver something very special. If you are thinking about buying this book, see if you can look at a copy first at a bookstore or library before you decide.

Doesn't get any better than this
This book contains a gold mine of treasures. Each page contains nuggets of ideas that can be mined for trading success in the market. The four main sections of the book are broken up as follows: 1) Primary trading strategies - there is some repeat from Barry's first book, but many additional trading patterns are also covered. 2) Supporting tools & tactics - this covers what to look at in addition to daily charts to help with trading decisions. GOOD STUFF. 3) Real-World trade analysis and money management - Puts the whole trading process & thought patterns that go along with it under a microscope to summarize the analysis a trader must conduct to be successful. 4) The Psychology & Discipline of day trading. Know yourself before you trade! Things to analyze about yourself and know about yourself before you begin to trade.

This book, like Barry's first book, contains no fluff. There are no wasted words. Barry concisely gets to the heart of the points he is making.

I own approximately 10 books on daytrading. After trading approximately 1 year the only two books I go back to to consolidate/refresh/ingrain ideas are Barry's books.

Sorry Barry. The rating system only goes up to 5 stars. I'd give this book a 6 star rating also.