The Ultimate Day Trader by Jacob Bernstein




After explaining to readers that The Ultimate Day Trader is for the experienced investor, Jacob Bernstein welcomes beginners in the first chapter, “Definitions and Directions—What It Means to Day Trade Today,” for those who are considering joining the market or simply want to know more about the subject. “A day trader,” he writes, “is an individual who enters and exits a position in the markets during the course of the trading day.” Of course, the “trading day” is now 24 hours, due to the advent of 24-hour trading in many markets.

Bernstein suggests there are 11 reasons to day trade, including reduced headline risk, knowing the results by the end of the “day,” the availability of reliable forecasting, the chance for instant execution, market volatility, and the sheer pleasure of doing it. The downsides, which may not be drawbacks to all, are that day trading is very hard work, subject to rand


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