Summary:
The Electronic Day Trader by Marc Friedfertig is a comprehensive guide to successful online trading, offering practical strategies and techniques for industry professionals and novice traders alike.
Book Genre:
Non-fiction, finance, business, investment.
Main Topic:
The main topic of the book is the art of electronic day trading, providing readers with the tools and knowledge to navigate the fast-paced world of online trading and increase their chances of success in the market.
Key Ideas:
- The importance of discipline and risk management in day trading
- Effective use of technical analysis in making trading decisions
- The impact of psychology and emotions on trading performance
- Understanding and utilizing different trading strategies based on market conditions
Main Parts and Short Summary:
- Part I: Before You Begin – This section discusses the basics of day trading and sets the foundation for the rest of the book.
- Part II: Trading Fundamentals – Covers topics such as risk management, technical analysis, and trading tools.
- Part III: Electronic Trading Platforms – Explores different online trading platforms and how to use them effectively.
- Part IV: Market Strategy – Focuses on developing and implementing successful trading strategies in different market conditions.
- Part V: Day Trading Psychology – Discusses the impact of emotions on trading and how to maintain discipline and a clear mindset.
Key Takeaways:
- Successful day trading requires discipline, risk management, and emotional control
- Technical analysis is a key tool in making trading decisions
- Different market conditions call for different trading strategies
- Understanding the psychology of trading is crucial for success
Author’s Background and Qualifications:
Marc Friedfertig is a seasoned investor and day trader with over 20 years of experience in the industry. He has managed his own trading firm and served as a consultant for various financial institutions. He also holds a degree in economics from the Wharton School of the University of Pennsylvania.
Target Audience:
The target audience for this book is anyone interested in learning about day trading, from beginners to experienced traders looking to improve their skills. It is also a valuable resource for finance professionals and investors.
Publisher and First Publication Date:
The Electronic Day Trader was first published in 2000 by McGraw-Hill Education, a leading global publisher of educational materials and business books. It has since been updated and reprinted several times to reflect changes in the industry.