Electronic Day Trading to Win

Is day trading just another form of gambling--a sure way for the unlucky to get to the poor house? Not at all, according to Bob Baird and Craig McBurney. In Electronic Day Trading to Win, the two set out to show how different sorts of people--professionals, part-time workers, those in dead-end careers, retirees, and baby boomers--can be successful traders by applying the principles outlined in their book.

Baird, a geologist by training, and McBurney, who runs TradeMentor, an Internet-based training program for day traders, argue that the only way to day trade is through direct-access accounts (as opposed to trading through a broker or an online account). After an introduction to the workings of the various exchanges--as well as chapters on ECNs, market psychology, and technical analysis--the authors show how to set up and use a trading screen then they step readers through a typical trading day. Electronic Day Trading to Win is an easy-to-read and well-rounded introduction into the world of day trading that aspiring day traders would do well to add to their bookshelves, next to titles such as How to Get Started in Electronic Day Trading and Day Trade Online. --Harry C. Edwards