The truth about day trading stocks PDF

The truth about day trading stocks PDF

The truth about day trading stocks PDF-  A Cautionary Tale About Hard Challenges and What It Takes to Succeed offers the amateur day trader a brutally honest look at the pitfalls of day trading―and how to hopefully avoid them.

Category: Stock

Author: Josh DiPietro 

Language: English

Free Download link: At the end of the post

Introduction- The truth about day trading stocks PDF

In terms of the potential for heavy financial losses, day trading is a high-risk profession. No one should contemplate day trading without giving thought to the ways he can lose, and all the ways to lessen or avoid them. Yet many people enter the game with unrealistic expectations, unaware of what it takes to succeed. Seminars and software alone do not make a successful day trader, cautions author Josh DiPietro. Instead, a trader must learn hard lessons of self-discipline, consistency, and staying in the game for the long haul to have a real chance of success. In The Truth About Day Trading Stocks, DiPietro offers the amateur day trader a brutally honest look at the pitfalls of day trading―and how to hopefully avoid them.

Written in an engaging and sometimes humorous tone, The Truth About Day Trading Stocks draws on the author’s own experiences as a day trader to offer a clear-cut departure from typical “golden goose” strategies promising instant wealth. Instead, he attempts to slow down the dangerous fervor of the average amateur and demonstrate the ways you can become a professional and not lose your shirt in the process. The Truth About Day Trading Stocks shows how trading decisions are bent and shaped by emotions, and why it is critical to know yourself, understand risk, and remember that increasing your skill level is a gradual, ongoing process―there’s always more to learn! After dispensing with popular illusions, DiPietro proceeds to offer realistic, practical trading advice―comparing pay-per-trade with pay-per-share brokers, determining which works best and when, offering suggestions on how to avoid the prospect of perfect trades turning ugly, and more. At the end of the book, he also includes a section called “Rules to Remember,” a list of over eighty rules, simply stated and easy to grasp, to benefit amateurs’ performance.

Throughout the book, the author describes his development of acute self-awareness while figuring out how to succeed. Through that blunt self-portrayal, the goal of The Truth About Day Trading Stocks is to help you create a disciplined mind-set and apply it to your own successful trading style.

Table of Contents- The truth about day trading stocks PDF

Preface xiii
Acknowledgments xvii
Introduction: The Wholehearted Amateur 1
PART I Psychological Truths and What to Do about Them 5
CHAPTER 1 Truths about Yourself to Know First 7

CHAPTER 2 How Emotions Can Destroy a Trade 15
CHAPTER 3 Preventing Overconfidence 23
CHAPTER 4 From Impatient to Cool, Calm, and Collected 27
CHAPTER 5 Taking Breaks 35
PART II The Truth about Your Risk 43
CHAPTER 6 The Importance of Risk Management 45

CHAPTER 7 Why Overexposure to the Market Can Hurt 53
CHAPTER 8 Budgeting: Knowing Your Financial Limitations 59

CHAPTER 9 Minimizing Your Risk with Stop/Loss 65
CHAPTER 10 Averaging-Down: A Skilled Strategy 73
CHAPTER 11 Gambling versus Day Trading 79
PART III Intraday Trading Truths 83
CHAPTER 12 Why Some Traders Make

CHAPTER 13 Trading Consistently All Day 93
CHAPTER 14 Stock Picking: Simplifying the Process 99
CHAPTER 15 Why News Can Be Just Noise 107
CHAPTER 16 About Those Training Programs 115

CHAPTER 17 Picking the Right Online Broker: Pay-per-Share versus Pay-per-Trade 125
CHAPTER 18 Paper-Trading Strategy 133
CHAPTER 19 Trading for Skill versus Trading for Income 141

CHAPTER 20 The Perfect Trading Day 151
CHAPTER 21 The Worst Trading Day 163
Conclusion: Parting Words 171
Appendix: Rules to Remember 175
About the Author 181


“Josh does an outstanding job of capturing all his trading experience into an invaluable memoir detailing specific rules for both the inexperienced and experienced trader. Anyone interested in trading professionally should read this book as they will learn invaluable lessons.”
—Stephen Ehrlich, CEO, Lightspeed Financial, LLC

“Having been a trader for over twenty years myself, I’ve read my share of books about the financial markets. Josh’s book is one of the few which doesn’t sugarcoat the fact that successful trading is both hard work and takes a long time to master. These lessons and guidance are drawn from real-life experiences, not hypotheticals, which simply adds to their weight. Active traders who are serious about their success need to read this book.”
—Tim Knight , founder of, author of Chart Your Way to Profits

“A brutally honest depiction of the reality of trading. Great stuff. If you’re new to the trading game, this book will shorten your learning curve and—if you take its lessons to heart—it just might save you money and grief.”
—Jason Alan Jankovsky, author of The Art of the Trade and Trading Rules that Work

About the author

JOSH DIPIETRO has been day trading stocks for ten years. He operates a web site ( and provides training programs for aspiring day traders. DiPietro’s trading approach involves making many trades every day, taking small profits, exiting losing trades quickly, and minimizing transaction costs. He is a critic of the educational paths offered by the established trading industry and is dedicated to providing an alternative educational approach for aspiring traders.


“My journey began in sunny San Diego back in 1998. I paid $5000 for a 3-day trading seminar and learned how easy it was to sit in your shorts and make tons of money when buying and selling stock online. I was pumped up with false expectations. I was total greenhorn that thought trading stocks was easy, especially after the 3-day workshop. It turned out to be a nightmare and several failed attempts to reach consistent profitability.

I read about 50 trading books and went to several more workshops over the years. I got better at trading, but still no real success.

So in late 2007 I sold virtually everything I owned and moved to Manhattan, so I could be on Wall Street, where most of the independent private equity trading firms are located.

I was exposed to real day trading firms, and real day traders. I learned more in this period then I did in all nine years prior.

After I left Manhattan and began trading independently and remotely from home, It took me another 5 years of perfecting my current Fusion Trading system. My current system is absolutely consistent-based trading and real quantitative price levels.

So far in 2015 my trading room has a stellar 97% success rate in the green, absolutely unheard of in most trading rooms (the non-bogus ones).

If you wanna learn my Fusion Trading system, my new book “Day Trading Stocks The Wall Street Way” is a great start to a real day trading career.

Everything I know to date can be learned from BOTH books, and if you want to put it to practice i highly suggest you enter my coaching/mentorship program first.

Enjoy reading!!!”

Day Trader Josh (Josh DiPietro)

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