How to Day Trade for a Living, Andrew Aziz, Book Summary

Book Worm • 7 May 2018

One Sentence Summary

 

  • In How to Day Trade for a Living, Andrew shares how you too can take control over your life and have success in day trading on the stock market.

 


Best Quotes


"Rule 3: Day traders do not hold positions overnight. If necessary, you must sell with a loss to make sure you do not hold onto any stock overnight." 


"Individual traders, like you and I, are called retail traders. We can be part-time traders, or full-time traders, but we're not working for a firm and we’re not managing other people's money."


 "To be a successful trader, you must learn risk management rules and then firmly implement them. You must have a line in the sand that tells you when to get out of the trade. It’s going to be necessary from time to time to admit defeat and say, “I was wrong,” or “The setup isn’t ready yet,” or “I'm getting out of the way.”"

 


Key Takeaways

 

  • Aziz describes the fundamentals of day trading, he explains how day trading is different from other styles of trading and investment and elaborate on important trading strategies that many traders use every day.
  • Day trading is not gambling or an online poker game. 
  • To be successful at day trading you need the right tools and you need to be motivated, to work hard, and to persevere.

 

 

About author

 

  • Andrew Aziz moved to Vancouver, Canada, rolled up his sleeves, worked hard, earned a PhD in Chemical Engineering from the University of British Columbia and went to work as a research scientist. Like so many others, as the economy faltered, Andrew heard those dreaded words, "you're no longer needed."
  • With the same drive and determination that led to his success at university and with industry, Andrew started studying the stock market.

 

How to Day Trade for a Living, Andrew Aziz, Book Summary
How to Day Trade for a Living, Andrew Aziz, Book Summary

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