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The New Day Trader Advantage by Jon Markman offers a fresh perspective on active trading, focusing on the benefits of a more measured and strategic approach. Rather than frantically trading volatile stocks multiple times in a single day, Markman advocates for holding onto investments longer and relying more on planning and patience than fast reflexes.
In this review, we will examine the strategies presented in The New Day Trader Advantage and explore the reviews and opinions of those who have read the book.
Markman introduces several trading methods, including his signature "New Economy Method," which involves discovering, tracking, buying, and selling the strongest companies in the best sectors of any economy. He provides real-life examples to demonstrate how these techniques can be applied in practice, and emphasizes the importance of risk management and discipline in achieving investing goals with minimum stress and maximum gain.
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Strategies for Profiting from Active Trading
One of the key advantages of day trading, according to Markman, is the ability to adapt to changing market conditions. He highlights the importance of flexibility and a willingness to try new approaches, as well as the need to constantly monitor and evaluate one's performance.
Markman also notes that day trading can be a particularly effective strategy for those who are able to devote significant time and resources to their investing efforts, and who are comfortable with the risks involved.
Other benefits of day trading include the ability to compound earnings faster, as profits can be reinvested on a daily basis, and the elimination of overnight risk on gaps or earnings, as day traders are fully cashed out at the end of each day. However, it is important to note that day trading is not for everyone, and can be a high-pressure and emotionally demanding endeavor.
Reviews of The New Day Trader Advantage
Reviews of The New Day Trader Advantage have generally been positive, with many readers praising Markman's clear and engaging writing style, as well as the practical strategies and insights he offers. One reviewer on Amazon notes that the book is "great grist for the trading mill on almost every page," while another on Goodreads calls it "a must-read for anyone serious about trading in today's markets."
However, some reviewers have criticized the book for being overly simplistic or repetitive, and for not offering enough specific guidance on how to implement the strategies presented. One reviewer on Amazon notes that "the book is more about general concepts and philosophies than specific trading techniques," while another on Zoboko suggests that "more charts and examples would have been helpful."
In conclusion, The New Day Trader Advantage offers a valuable perspective on active trading, emphasizing the importance of strategic planning, risk management, and adaptability. While not everyone may be suited to day trading, Markman's insights and strategies can be useful for anyone looking to improve their investing performance and achieve their goals with greater ease and confidence.
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