Trading for Dummies

by Michael Griffis, Lita Epstein

When people think of stock trading, they often think of the glory days of the Internet, when stocks just kept going up and everyone seemed to be making a fortune. Since the bubble burst, many people are scared of investing in the stock market. Sure, stocks are risky—just like any other investment—but with the right knowledge and tactics, there’s still money to be made. Trading For Dummies isn’t about high-risk, fast-paced day trading. It’s a simple, straightforward guide to the ins and outs of stock investing that offers a measured, level-headed approach to trading. You’ll learn the basics of portfolio management, measuring stock value, market analysis, and much more—all with a focus on risk reduction and steady profits. Inside you’ll learn how to: This friendly guide presents the kind of honest advice you won’t find in the typical get-rich-quick books on trading. Full of practical tips and tactics—as well as hardnosed insider advice—this handy resource shows you how to build a strong, balanced, and profitable portfolio. Whether you want to save up for your retirement or pay for college, Trading For Dummies will show you how to: This book has all the tools and honest advice novice stock traders need to get set-up quickly and safely. Basic strategies and stock valuation methodologies let you control your risk exposure and make wise decisions. Trading For Dummies includes everything new traders need with advice on every type of stock or derivative, every kind of trade, and every popular strategy.

Genres: Finance, Nonfiction, Audiobook, Economics, Business

368 pages, Paperback

First published August 27, 2004

Reviews

[JD Morales · Rating 5 out of 5]

The first book I have ever read after losing Php 35,000 in one trade.

[Larry Fisherman · Rating 4 out of 5]

"Trading for Dummies" is written for the beginning trader but would serve as a good foundation and framework for further learning or as a review for intermediate or even more advanced traders. It is about trading rather than investing for the long term, and specifically, day, swing, and position trading, including stocks, ETFs, derivatives, and forex, with some mention of commodities, etc. Market observation and analysis are covered right down to reading bar charts and understanding economic indicators.

It has all the good features of the "for Dummies" series, including extensive table of contents and index, good page layout, glossary, tips, etc. and covers even the most basic topics such as choosing a computer and a broker. More advanced topics such as licensure are included, as well.

If there is a major shortcoming, it is in not addressing the psychology of trading in an organized and thorough manner. This is not only the most difficult thing to learn, but it is also the key to success.

[anselm · Rating 3 out of 5]

Trading for Dummies is an introductory book to the stock market. The book mainly applies to the United States stock market. The book is a brief overview about the stock market and different forces that are in play.

The book is a good introduction to stock trading, but it is a bad resource for in-depth knowledge about the subject. Anyone that is completely new to stock trading will enjoy the overall knowledge about the subject. The book can be useful for anyone that is a beginner in stock trading.

I would recommend "Trading for Dummies" for any reader that is new to stock trading and interested in the topic.

Grade: C

[Andreas Harris · Rating 4 out of 5]

Good broad introduction to trading.

[Sam Isse · Rating 5 out of 5]

Good Book to understand and inter the world of trading.

[Alexandre Lapointe · Rating 4 out of 5]

Ok

[Jacob · Rating 3 out of 5]

This book is not as much about trading stock and other things as much as it is about trading them using the author's approach, which is heavily based on technical analysis. The ideas are explained pretty well as is normal for Dummies books, and I found them interesting since I have very little knowledge of technical analysis. However, the authors could have focused a bit more on their topic and given some more depth, such as discussing why their approach does or does not work, and the assumptions it is based on. Possibly technical analysis doesn't lend itself to explaining why it works or doesn't, as the authors often say that certain techniques may not work as often as they do (or more often!). It's just that there are chapters about things that don't need to be discussed as much (like trading in foreign currency or how powerful a computer you might need to run technical analysis software), and I would have liked to understand more about why technical analysts think their systems work (or don't).

I can't decide whether this should be three stars or two, so I'll round up.

[Marcie]

James really enjoyed this book and wanted me to read it too. I started it, and so far it's been a good lesson about the stock market... but I'm not inherently interested in finance, and the current economic climate has been a fantastic excuse for me to procrastinate this one.

[Katharine · Rating 4 out of 5]

A lot of very helpful information for anyone interested in trading. You do need to have at least a basic background in finance to understand all the terms, since the author jumps right in and expects a little bit of prior knowledge.

[John Gates · Rating 3 out of 5]

This seems a good introduction, but it isn't necessarily the information I am after and it is quite dated. I'm fairly certain Windows XP is going to "get you there" these days. That isn't to say there isn't some good info in here. It will definitely point you in the right direction.

[Shannon Mitrovich · Rating 2 out of 5]

This is deff nothing I will ever do. However, I did learn some new vocabulary. A fast read/listen with some interesting key points I found to be useful.