Books on "Day Trading"

[CardMinger]

Hello...

I dont know if day trading per se is exactly what I am looking for (hence the "'s).

I want to find some books on buying stocks as a relative short term investment. I am reading the Intelligent Investor (which I plan to finish) but so far it seems like it is recommending buying for the long term.

I guess I just want to play the market like poker.....can that be done? If so can anyone recommend any books or online reading on what I want to do?

Thanks a lot!

[littlerayray]

I like "how i made 2,000,000 in the stock market" by Nicoloas Darvas

[Dan Mezick]

It sounds like what you really want is swing trading-- making plays that last from 3 days to 3 weeks.

The best book for that is the MASTER SWING TRADER by Alan Farley.

The Master Swing Trader, by Alan Farley

He's got quite a website also.

http://www.HardRightEdge.com

I also highly recommend these books on/about Jesse Livermore, one of the greats:

How to Trade in Stocks

Reminiscences of a Stock Operator

[Aceshigh7]

I believe this is the best book on trading. Quite pricey though...

Trading for a Living: Psychology, Trading Tactics, Money Management by Alexander Elder

[RunDownHouse]

Notice you haven't heard much about day trading since the tech bubble burst.

Keynes: "Investing is the activity of forecasting the future yields of an asset. Speculation is the activity of forecasting the psychology of the market."

Graham: "An investment operation is one which, upon thorough analysis, promises safety of principal and a satisfactory return. Operations not meeting these requirements are speculative."

Buffet: "Consciously paying more for a stock than its calculated value... should be labeled speculation (which is neither illegal, immoral, nor - in our view - financially fattening)."

[DesertCat]

[ QUOTE ]
I guess I just want to play the market like poker.....can that be done?

[/ QUOTE ]

Nope. Can't be done. Oh, there are people who've beaten the market in the short-term, but there are also people who've won money at the roulete wheel. 95% of Daytraders are broke within a year, the rest were the result of short term variance, i.e. lucky.

[MarkL444]

[ QUOTE ]
[ QUOTE ]
I guess I just want to play the market like poker.....can that be done?

[/ QUOTE ]

Nope. Can't be done. Oh, there are people who've beaten the market in the short-term, but there are also people who've won money at the roulete wheel. 95% of Daytraders are broke within a year, the rest were the result of short term variance, i.e. lucky.

[/ QUOTE ]

Is this the same as swing trading? Is it possible to be successful with 2-4 week investments?

[goodedesign]

[MarkL444]

when you say short term trading, what kind of timeframe are you talkin about?

if i was to make an investment for ~2.5 months, would that be "trading"?

[goodedesign]