5 Responses to “The Truth About Day Trading Stocks: A Cautionary Tale About Hard Challenges and What It Takes To Succeed”

• By Steven A. Brister on Mar 14, 2010

  I was curious about a mentoring program that was so reasonably priced. I have spent $2000 before for worthless results from honest people. Josh is a delight.
  
  In his one on one phone conversations with you, he makes you think you are the only concern he has and to some degree you are to him at that moment. He cares. He really cares. He is not out to make money only. He is a people person to the nth degree. Because of that he does not concern himself with time as he tries to guide you to become a professional trader. He advertises 15-30 minute phone conversations in each of 5 sessions. He gives you whatever it takes. I spent 45-60 each time. Where does he find the time. If I were to ask that of some other well meaning traders who educates, the ones I know of would laugh about talking one on one on the phone and would charge several thousand for a group presentation per individual.
  
  You will read things in his book that sound like a sells pitch. They are not. He is 100% sincere in all his statements. I really don’t know how he can go on giving so much of himself for so little financial return. However, being the person that he is I suppose he enjoys giving as much as he does.
  
  He really is looking to train people so that one day in the future you can benefit him by being one of several people on his personal trading floor. However, if you are not interested in that, his focus is still on you.
  
  What more can I say? He is a genuine, personable, professional teacher. Don’t hesitate to let him make you a better trader.
  Rating: 5 / 5
• By Philip Foster on Mar 14, 2010

  I attempted trading after reading several books and attending a few investools seminars in the beginning of 2008, however I never had a chance (no matter how much paper money I made). I have always been so fascinated with the stock market, and found out there is so much more to trading stock than reading a couple books and attending a few seminars. After reading your book, I feel almost taken advantage of and realize the opportunity that I now have right in front of me!! Thank you for putting out a great book that is easy to understand and that I can completely relate to!! I cannot wait to begin the new journey with your mentoring program and whatever else lies ahead. Again THANK YOU…

  Rating: 5 / 5
• By L. Rohland on Mar 14, 2010

  i have read over 100 books on tradeing and finance.this book is one of the best.when i am reading a book even if i feel i do not like a book when i rarely stop reading it before i finish.Many times i feel as though i have wasted my valuable time.this was not the case with joshe’s book.i realy enjoyed this bookfrom start to finish.If you are looking for a system or charts this is not what the book is about.He concentrates more on the behavior of tradeing.with that said i have read a few books on psychology of tradeing and did not enjoy the boreing “shrink” aproach.Josh explains it in the common traders word.I would not have any trouble recomending this book.
  Rating: 5 / 5
• By Robert P. Paone on Mar 14, 2010

  I’ve bought a lot of books on investing over the past few years and most of them didn’t deliver on what they promised or were virtually un-readable. Josh was more forthcoming than most of them and did deliver on promised information for the most part. I read his article in SFO magazine which lead me to buying this book in the first place. Josh, like many other authors in the investing field earns a living by training and mentoring investors and also has other products for sale. He responded to my inquiries immediately and I am still considering coming on board with him. In the meantime, if you are interested in day trading pick up a copy of this book and then get in touch with him.
  Rating: 3 / 5
• By J.D. Cahill on Mar 14, 2010

  I found this book to be a fundamental primer on day trading. It is probably a good book for those with a minimal understanding of the market and basic psychology of what a day trader needs. Since I consider it a very basic book I cannot stress enough: DO NOT STOP WITH THIS BOOK BEFORE YOU START DAY TRADING!

  With all due respect to the author, I personally question the usefulness of “Paper Trading”. Paper trading may help one learn patterns and such, but by paper trading, the psychology needed for day trading just isn’t there. So you can expect that if you paper trade, it cannot be considered a prediction of how one will do when trading with their money on the line. On this point the author may or may not agree with me. However, the author correctly emphasizes the pschology of a day trader, so maybe the author might agree with me with a caveat. The caveat being one should do everything possible to prepare for real day trading. In that respect, I would tell a greenhorn it is okay to use paper trading to find out if your set-up’s, entry point, exit point, and stop/loss are working out for you – but don’t spend endless weeks on paper. When you have your own money out their and your limbic system goes into action – and your hypothalamus kicks into high gear, I can gaurantee you that you are going to wrestle with your instincts and conditioning at the expense of remembering and following the rules (which are spelled out fairly well in this book). When this happens, you will certainly be on the losing side of a trade, or trades.

  After reading this book, I highly recommend that you read, “Mastering The Trade” by John F. Carter (available on Amazon).

  Now my nit-picking. The author says he graduated from Business School with a BS in Business (or some such business category). I am not aware of any schools that issue a BS degree to Business School Grads – Rather they issue BA degrees. I know this is nit-picking, but when it is presented twice in the book, I wonder what the deal is.

  Next, in my opinion there is a big void in this book. There is little or no information regarding what a typical trading station should be configured.

  I knocked off one star because the author uses the book to promote his mentor program. This tells me he may be holding back useful and needed information.

  Finally, this book is not a “dry” read. The author presents the subject citing examples and the book reads like a story.

  I would recommend this book to a friend.
  Rating: 3 / 5

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