| Book of the Month |
Thursday, May 01, 2008 |
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A Beginner’s Guide to Short-Term Trading
Authored by: Toni Turner
Novice traders, as well as investors who are looking to pump up their success, will find plenty to like about Turner’s latest book.
I know from interviewing many trading experts that they often despair at beginning traders who picture the art of trading as a Wild West scenario, involving high-risk, ‘winner-take-all’ strategies. But those who have achieved success in this arena know that a well-planned and disciplined approach is truly the only way to win.
And that’s where Turner’s book comes in. First, Turner requires that traders learn the fundamentals of investing, explaining what the exchanges do, how the market works (and why you can’t always trust it!), the differences among brokers and commissions, and how margin accounts can work for or against you.
Once you have a good understanding of these essentials, Turner takes readers through the very basics of developing a trading strategy, including a bit of self-analysis (to see if you have what it takes), the importance of channeling your emotions, the mechanics of planning your trades, goal-setting, and even how to set up your office for maximum efficiency.
Then, getting down to the nitty-gritty, Turner defines the elements of both technical and fundamental analysis and shares some of her favorite resources for research. She thoroughly examines and explains basis charts and indicators and provides plenty of trading examples to help novice traders get their feet wet.
After the basics are dealt with, Turner delves into how to really turn your trading techniques into profits, covering specifics on money management, risk/reward calculation, stops, and order types. She devotes an entire chapter to a range of shorting strategies, including examples and charts to demonstrate her points.
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Toni Turner |
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Toni Turner is the president of TrendStar Group, Inc., and a trader and investor with 17 years of experience in the financial markets. She is the best selling author of A Beginner's Guide to Day Trading Online, 2nd Edition, A Beginner's Guide to Short Term Trading, and Short-Term Trading in the New Stock Market. Ms. Turner's books have been translated into Vietnamese, Japanese, and Chinese. She is a popular educator and speaks at trading forums and financial conferences across the United States. Mr. Turner has appeared on NBC, MSNBC, CNN, and CNBC. She has been interviewed on dozens of radio programs and featured periodicals such as Fortune magazine, Stocks and Commodities, SFO, MarketWatch, Fidelity Active Trader, and Bloomberg Personal Finance.
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Book of the Month Reviews by:
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| Nancy Zambell is a long-time proponent of increasing investor wealth through personal responsibility. She is the editor of the investment newsletter, UnTapped Opportunities, and a regular contributor of timely investment articles to a host of additional financial publications. |
Zambell
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