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Winning the Day Trading Game: Lessons and Techniques from a Lifetime of Trading

Winning the Day Trading Game: Lessons and Techniques from a Lifetime of Trading

Thomas L. Busby, Patsy Busby Dow (With)

ISBN: 978-1-118-04624-1

Mar 2011

208 pages



Take a proven approach to short-term trading.

Winning the Day Trading Game offers an insider's view of the trading life and provides proven strategies for profitable trading. Professional trader Tom Busby explains how the strategies that made him so much money early on in his career ultimately failed during the 1987 stock market crash and then reveals how he reinvented himself as a high-percentage day trader. He interweaves personal experiences with technical explanations to outline the cornerstones of his technique. In highlighting his own trading experiences, Busby clearly explains how to beat the market by balancing the impulses of greed and fear, managing risk at all times; and taking responsibility for your trading.

Thomas L. Busby (Mobile, AL) has been a professional trader and broker for 25 years, working with Merrill Lynch and Smith Barney. He founded the Day Trading Institute in 1996 and it has grown into one of the most successful trading schools in the world.

Acknowledgments vii

Introduction ix

CHAPTER 1 The Crucible: Black Monday 1

CHAPTER 2 Time Is Central 15

CHAPTER 3 Trading Is a Numbers Game 31

CHAPTER 4 Read the Tape 45

CHAPTER 5 There’s No Crying in Trading 61

CHAPTER 6 Riding the Rail 73

CHAPTER 7 Worry about Risk, the Rewards Will Come 85

CHAPTER 8 Respect the News 99

CHAPTER 9 Getting Down to Brass Tacks 113

CHAPTER 10 Preparation Pays 133

CHAPTER 11 A Study in Contrast 145

CHAPTER 12 Recap the Essentials 155

CHAPTER 13 An Afterthought for Consideration:

The Doctrine of Genius 169

Appendix A Glossary 173

Appendix B Getting Started 179

Appendix C Order Types 185

Appendix D Suggested Reading 189

Appendix E Helpful Websites 191

Index 193