(From The Jacket) – This final installment of “Evolution of a Trader” introduces the two most popular short-term trading approaches: swing trading and day trading.
The first part of “Swing and Day Trading” pioneers swing trading using trendlines, channels, and two patterns, the three-bar net line and first thrust. Following that, Bulkowski offers step-by-step coverage of an array of swing trading strategies, tools, and techniques. You’ll learn the basics of how to time your entries and exits, how to calculate price targets, and how to read and profit from event patterns (including Bulkowski’s favorite, the “inverted dead cat bounce”).
In the remaining chapters, Bulkowski digs into the white-knuckle world of day trading. He starts by exploring the psychology of day trading and helps you decide if you’re temperamentally and financially suited for it. He discusses what’s involved in setting up a day-trading home office, reviews the rules for day traders (pattern day trading and wash sales), how to pick stocks to trade, and discusses new research on the most common reversal times of the day including discoveries of when stocks reach their intraday highs and lows. A pre-market checklist serves as guidance for trading plans.
He researches the opening gap setup, discusses common intraday chart patterns and how to profit from them, describes the opening range breakout setup, and completes the book with ten horror stories that will make you think twice about using leverage.
Bulkowski’s work sets an example for how financial books should be written. He doesn’t just repeat what others have said. Rather, he investigates and researches his facts before teaching the reader in an entertaining and informative style that is accessible for beginners and professionals.
Whether you’re just dipping a toe in the swing or day trading waters or you’re a veteran of a thousand trades, “Swing and Day Trading: Evolution of a Trader” is one resource you cannot afford to be without.