From the Inside Flap
After great initial success as a professional trader, Thomas Busby was nearly wiped out in the stock market crash of 1987. Rebounding from that devastating experience, he devised an innovative risk-averse, high-percentage method of day trading that allowed him to reap enormous profits from the market while avoiding its pitfalls.
Now you can benefit from his quarter-century of market experience distilled in this highly readable, deeply informative volume. Winning the Day Trading Game will show you how to mine the tremendous opportunities available in the market today. You'll learn how the author took his early fascination with trading from a part-time hobby to a full-time--and highly profitable--livelihood. You'll also discover how he bounced back from the most shattering loss of all: the loss of his self-confidence after Black Monday.
Busby describes the watershed moment that changed his life. Recounting his hard-won recovery from the "dark years," he will teach you the difference between working hard and working smart. You'll understand the crucial role psychology plays in the trading game. And you'll find out why risk management--not profit-taking--must be the day trader's highest priority.
In Winning the Day Trading Game, you'll learn:
- The importance of timing, and how successful traders know when to trade
- The "key numbers" in trading and how to use them
- How learning to "read the tape" can liberate you from mounds of confusing data
- How to get your emotions under control
- The "Three T's" of trading
- The news you can use--and the news you can't
- How to study the market before you trade
- How to prepare to win
With a clearly presented analysis of key factors--abundantly illustrated with tables, charts, and engaging anecdotes--Winning the Day Trading Game will serve as a perfect introduction for the novice, as well as a clarifying, insightful guide for the established trader.
As the author says, "Trading is a journey." In Winning the Day Trading Game, you'll find an indispensable guide that will enable you to reap the uncommon rewards that come to those who know how to win.
THOMAS L. BUSBY, a twenty-five-year veteran of the market, began his trading career with Merrill Lynch while earning a law degree. After training in New York, he earned his brokerage license and a license to trade futures, and enjoyed remarkable success. But on October 19, 1987, the market crashed, and with it his career and --worst of all --his self-confidence. After several years of struggle, he reappraised all that he had learned, ultimately devising an innovative short-term trading strategy focused on risk management. Applying this new method, he achieved phenomenal results. In 1996 he founded the Day Trading Institute, now one of the world's most successful trading schools. Mr. Busby is a member of both the Chicago Mercantile Exchange and the Chicago Board of Trade.
PATSY BUSBY DOW is a former educator, an attorney, and a trader. As Tom Busby's first cousin, she heard him talk about the markets and his trading experiences. Her fascination with his stories and market savvy led her to study his trading methods. She is currently employed by the Day Trading Institute as a staff writer.
