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How to Day Trade: A Detailed Guide to Day Trading Strategies, Risk Management, and Trader Psychology
Success as a day trader will only come to 10 percent of those who try. It’s important to understand why most traders fail so that you can avoid those mistakes. The day traders who lose money in the market are losing because of a failure to either choose the right stocks, manage risk, and find proper entries or follow the rules of a proven strategy. In this book, I will teach you trading techniques that I personally use to profit from the market. Before diving into the trading strategies, we will first build your foundation for success as a trader by discussing the two most important skills you can possess. I like to say that a day trader is two a hunter of volatility and a manager of risk. I’ll explain how to find predictable volatility and how to manage your risk so you can make money and be right only 50 percent of the time. We turn the tables by putting the odds for success in your favor. By picking up this book, you show dedication to improve your trading. This by itself sets you apart from the majority of beginner traders.
163 pages, Kindle Edition
Published November 6, 2015
563 people are currently reading
747 people want to read
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Displaying 1 - 30 of 33 reviews
February 17, 2018
Excellent Book
As a new trader, this book has helped immensely. Trading is not for the faint of heart, and requires endless hours of education, which Ross lays out quite effectively.
As a new trader, this book has helped immensely. Trading is not for the faint of heart, and requires endless hours of education, which Ross lays out quite effectively.
March 14, 2020
This short book offers a great introduction to day trading as a profession. Make no mistake, this is not your Holy Grail to becoming a successful day trader. Intraday trading is one of the hardest style to master and is the riskiest type of market participants. Failure to grasp the fundamentals laid out in this book will lead to nothing but career-ending mistakes and disasters.
One analogy that I have heard of somewhere else has reinforced by Ross in his trading philosophy.. "take race car driving for instance, if you crash your car into the wall you are done with the race and have to wait until the next race. The very nature of that type of job gives you a period of time to react on the mistakes you made that resulted in the accident." But as a trader, it is imperative to have that emotional self-mastery to admit mistakes and time-outs.
There are no "industry secrets" in this book and I am familiar with most the technicals and principles. That, day trading needs a tremendous amount of discipline and self-control. Also, risk management and trader psychology are probably the two most important aspects to becoming a consistent trader. By reading this book alone, you will not become a successful day trader. It takes a lot of time and effort to do what it takes become one. Thus, much more needs to be explored and investigated if you are a beginner.
This book to me is a rather uninspiring 3/5 as it offers little value. Many of the technical strategies and concepts have simply strengthened and validated. But to Ross as a person, he is a solid 4/5 to me. For all his recap videos that he has posted on Youtube. His contribution to the community is second to none. Thats why I think it is only fair to give this book a solid 4/5. Highly recommended if you are interested in intraday trading.
"Nobody wants to lose, but the best traders are great losers. They accept their losses with grace and move on to the next trade."
One analogy that I have heard of somewhere else has reinforced by Ross in his trading philosophy.. "take race car driving for instance, if you crash your car into the wall you are done with the race and have to wait until the next race. The very nature of that type of job gives you a period of time to react on the mistakes you made that resulted in the accident." But as a trader, it is imperative to have that emotional self-mastery to admit mistakes and time-outs.
There are no "industry secrets" in this book and I am familiar with most the technicals and principles. That, day trading needs a tremendous amount of discipline and self-control. Also, risk management and trader psychology are probably the two most important aspects to becoming a consistent trader. By reading this book alone, you will not become a successful day trader. It takes a lot of time and effort to do what it takes become one. Thus, much more needs to be explored and investigated if you are a beginner.
This book to me is a rather uninspiring 3/5 as it offers little value. Many of the technical strategies and concepts have simply strengthened and validated. But to Ross as a person, he is a solid 4/5 to me. For all his recap videos that he has posted on Youtube. His contribution to the community is second to none. Thats why I think it is only fair to give this book a solid 4/5. Highly recommended if you are interested in intraday trading.
"Nobody wants to lose, but the best traders are great losers. They accept their losses with grace and move on to the next trade."
September 2, 2021
It feels like an intro book, but reading about another book called Market Analysis makes it a lot easier to understand his algorithms later in the book. One thing I didn't like about his writing is that he uses examples that are real images, so it is fairly hard to understand what is going on from the picture alone.
Overall, it was a book well worth reading and he does layout a lot of the psychological element. He also has a lot of the information on his website.
Overall, it was a book well worth reading and he does layout a lot of the psychological element. He also has a lot of the information on his website.
February 16, 2024
Target Audience: Beginners interested in learning day trading fundamentals.
Core Message: Day trading success rests on two pillars: 1) Finding predictable volatility in specific stocks and 2) Effectively managing risk through proper trade sizing and stop-loss orders.
Key Takeaways:
Market & Psychology:
Cameron emphasizes understanding market cycles and identifying exploitable volatility.
He stresses the crucial role of managing emotions like fear and greed, as they can cloud judgment.
Trading Strategies:
The book introduces various technical analysis tools like chart patterns and indicators.
It covers several day trading strategies based on price action, moving averages, and support/resistance levels.
Risk Management:
Cameron advocates for stringent risk management using fixed position sizes and stop-loss orders.
He emphasizes the importance of calculating risk-reward ratios for each trade.
Trade Execution:
The book provides basic guidance on selecting a broker, using trading platforms, and executing orders effectively.
Realistic Expectations:
Cameron warns that day trading is challenging and statistically, only a small percentage of traders succeed.
He emphasizes the importance of discipline, patience, and continuous learning.
Core Message: Day trading success rests on two pillars: 1) Finding predictable volatility in specific stocks and 2) Effectively managing risk through proper trade sizing and stop-loss orders.
Key Takeaways:
Market & Psychology:
Cameron emphasizes understanding market cycles and identifying exploitable volatility.
He stresses the crucial role of managing emotions like fear and greed, as they can cloud judgment.
Trading Strategies:
The book introduces various technical analysis tools like chart patterns and indicators.
It covers several day trading strategies based on price action, moving averages, and support/resistance levels.
Risk Management:
Cameron advocates for stringent risk management using fixed position sizes and stop-loss orders.
He emphasizes the importance of calculating risk-reward ratios for each trade.
Trade Execution:
The book provides basic guidance on selecting a broker, using trading platforms, and executing orders effectively.
Realistic Expectations:
Cameron warns that day trading is challenging and statistically, only a small percentage of traders succeed.
He emphasizes the importance of discipline, patience, and continuous learning.
April 11, 2020
I read the e-book version which I downloaded for free.
The content is not mind blowing and includes general information and tips found online on most of day trading websites.
However, it is a well organized book, so if you are a complete beginner it can help you create an idea on how to start day trading using simple strategies.
Keep in mind that you will have to practice and do more in depth research to find your own comfort zone in day trading.
I wouldn't suggest paying for the hardcover version though.
The content is not mind blowing and includes general information and tips found online on most of day trading websites.
However, it is a well organized book, so if you are a complete beginner it can help you create an idea on how to start day trading using simple strategies.
Keep in mind that you will have to practice and do more in depth research to find your own comfort zone in day trading.
I wouldn't suggest paying for the hardcover version though.
December 23, 2018
This book is brilliantly simple. I love how Ross Cameron advocates mastering one strategy, and how becoming great at one strategy is really the key to becoming a successful day trader. Any other strategy you master is just more tools for your tool belt. He also advocates to not over complicate the trades, and just go with the obvious setups, because that is what other traders see and will act on. This view on day trading is quite inspiring. I hope to utilize some of these strategies myself.
September 6, 2019
The first step into a larger world
I picked up this book after four months of live trading. At times I felt like it was specifically written for me as it discussed mistakes and emotions that are very much a part of learning to trade. The technical discussions confirmed a lot of what I had already learned and gave depth, detail, and understanding on how to read and predict price movements. Very well written and to the point. Highly recommended.
I picked up this book after four months of live trading. At times I felt like it was specifically written for me as it discussed mistakes and emotions that are very much a part of learning to trade. The technical discussions confirmed a lot of what I had already learned and gave depth, detail, and understanding on how to read and predict price movements. Very well written and to the point. Highly recommended.
May 10, 2025
I came across one of his youtube videos on trading and found it very engaging and fun to listen to. So, I looked him up and decided to read his book. Very easy to read and digest. I enjoyed reading his trading stories. I think readers(beginner traders) will benefit from reading the book.
Cons: you might not enjoy the writing style if you come from STEM/law background. Conversation-style writing.
Generally, I do recommend this book.
Cons: you might not enjoy the writing style if you come from STEM/law background. Conversation-style writing.
Generally, I do recommend this book.
July 22, 2018
Great book for day trading
Ross goes over a few different day trading strategies and even shows how he sets up his stock screeners. If you haven’t watched any of his warrior trading YouTube videos, Ross is a very successful day trader and trading instructor. I highly recommend this book.
Ross goes over a few different day trading strategies and even shows how he sets up his stock screeners. If you haven’t watched any of his warrior trading YouTube videos, Ross is a very successful day trader and trading instructor. I highly recommend this book.
March 7, 2018
nice slow intro to trading. Shame it doesn't explain some of the terms it uses, and the pictures are way too small when reading ebook on your phone- but I liked it, best book i've read on trading so far (starting at 101)
July 4, 2019
Excelente para Daytraders
Muestra las técnicas basicas de Ross. Es obvio que no divulga toda su cartera de trucos y técnicas pero si que muestra de una forma clara y directa como comenzar con el daytrading. Lo recomiendo.
Muestra las técnicas basicas de Ross. Es obvio que no divulga toda su cartera de trucos y técnicas pero si que muestra de una forma clara y directa como comenzar con el daytrading. Lo recomiendo.
October 10, 2019
Very thorough, lacks a little depth on certain strategies but that is because he clearly wants you to buy his trading system. You should be able to cobble the strategies from the book and some supplementary Youtube videos from his channel.
November 21, 2020
Excellent!
Thanks to author for his step by step understandable guide with a very clear emphasis on the risks of the day trading and what is very very important - rules how to manage it.
Thanks to author for his step by step understandable guide with a very clear emphasis on the risks of the day trading and what is very very important - rules how to manage it.
February 3, 2018
Stocks explained on a basic level with some technical approaches. If you're new to the stock market, this is a great introductory book to read.
May 19, 2018
A good read
Very informative read. I do recommend it to anyone who has an interest in day trading and has no idea where to start.
Very informative read. I do recommend it to anyone who has an interest in day trading and has no idea where to start.
July 18, 2018
Ver good in knowegde
If do'nt know about you sould be read this (if good for me ) I think good for who wonder about trading .
If do'nt know about you sould be read this (if good for me ) I think good for who wonder about trading .
February 17, 2019
Go Day Traders
A good back o. Basic principles.principles. This book will not make you rich immediately but could start you on the right path
A good back o. Basic principles.principles. This book will not make you rich immediately but could start you on the right path
October 21, 2019
Great for new traders
Great book, good info on strategies and planning trades. Simple ideas explained clearly. Easy to read and to understand if you have a base on trading.
Great book, good info on strategies and planning trades. Simple ideas explained clearly. Easy to read and to understand if you have a base on trading.
January 3, 2020
Not your typical "buy my program for full details" book. That's what I expected. When I decide to give day trading a try (2021? 22?) I'll definitely be checking out Warrior Trading.
July 22, 2020
Good for beginners to intermediate level
Nice book to read as a beginner to intermediate level. Good info on trading setup and profit margin. Good read
Nice book to read as a beginner to intermediate level. Good info on trading setup and profit margin. Good read
August 18, 2020
Excellent!
If the facts and guidance in this book are accurate, I believe you could use this book alone to be a successful trader, to start off.
If the facts and guidance in this book are accurate, I believe you could use this book alone to be a successful trader, to start off.
November 20, 2020
Book gets right to the point. There is less talk about psychology here and a lot more strategies and details. I would say the book needs more graphics. Other than that, I really liked it.
January 1, 2021
Good as a reference point to Ross' method if you are already familiar with Day Trading. You might want to read another book or watch some of Ross' Youtube videos for more depth.
June 27, 2021
Guess I have to gain experience...
April 3, 2022
Awesome book! Very detailed and easy to understand. Only negative side is that it’s catered specifically to Ross’ strategy and doesn’t go into developing your own strategy or trading styles.
February 19, 2017
A good book on guiding day Traders what to do and what not to do.
There are two main parts in the book namely strategy and risk management. Strategy wise it is up to individual judgement, the main takeaway of this book to me is on the risk management part.
There are two main parts in the book namely strategy and risk management. Strategy wise it is up to individual judgement, the main takeaway of this book to me is on the risk management part.
November 18, 2016
Some experienced traders might be put off by the simplicity and basic information, but if you're reading this book then you are obviously seeking help. I've been trading in the trading chat room Ross moderates for a year now and I've had some ups and downs due to my own mistakes. I'm doing well now, having sorted out what works for me as a trader. You don't have to get fancy to make money trading and Ross has a well thought out proven strategy outlined in this book.
March 5, 2016
More books!
Great read. Lots to learn from this book. Ross is definitely a great trader. This book is worth much more than the price as it gives specific ways to conquer the market. Ross, write more books!
Great read. Lots to learn from this book. Ross is definitely a great trader. This book is worth much more than the price as it gives specific ways to conquer the market. Ross, write more books!
July 4, 2019
This is a great book for traders to read. It will give you some theory but importantly its mostly a practical book that will give you methods you can actually start using and practising. I really like Ross's method of evaluating your trading and risk. I use this system in my trading.
November 1, 2016
Very good book. Great information.
Displaying 1 - 30 of 33 reviews