Completely idiotic active trading

I just came back from a week off to catch up on reading.

The first book that I read during that week was The Complete Idiot’s Guide to Active Trading.



This book is a worthwhile quick flip through for anyone new to trading. The best place to get this book is at your local public library for free.

Don’t bother looking for precise strategies for trading in that book because there are none despite the chapter headings indicating that there are such strategies described in the book. I believe that even the book’s bibliography would not be of any use for the purposes of creating any strategies for trading.

Instead, the book has a good explanation of the distinction among the different time frames active traders use, namely Short-Term Trading, Swing Trading, and Position Trading. For anyone new to trading, that could be a broad starting point for selecting a time frame for trading.

The feature of the book I like the best is the author’s emphasis, repeated over and over, that almost everyone who tries active trading loses money, but the odds are no worse than surviving in a new business.

The title for the book is very appropriate. It is for complete idiots. And it will guide them away from trying active trading. So much the better, and more money left in the markets for traders who are absolutely committed to succeeding at trading .

...cont'd tomorrow...

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