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The Compleat Day Trader II

by Jake Bernstein (1998)

Quick summary -- an in-depth PhD-level extended summary (10-30 pages) for this book is coming soon.

The Compleat Day Trader II

Book Details

  • Author: Jake Bernstein
  • Categories: Day Trading

Quick Summary

Jake Bernstein's sequel to his original day trading guide expands on intraday trading techniques, covering advanced chart patterns, timing indicators, risk management strategies, and the psychological demands of full-time day trading across stocks and futures markets.

Detailed Summary

"The Compleat Day Trader II" by Jake Bernstein is the follow-up to his widely-read original day trading manual. Bernstein, a prolific author and commodities trading educator, addresses the evolving landscape of day trading with updated methods and expanded coverage of intraday strategies.

The book builds upon the foundation laid in the first volume, providing more advanced treatment of intraday technical analysis tools, including momentum oscillators, moving average systems adapted for short time frames, and pattern recognition techniques specific to day trading. Bernstein covers the particular challenges of intraday timing, where the compressed time frame amplifies the impact of slippage, transaction costs, and execution quality.

Risk management receives significant attention, as Bernstein addresses the heightened capital requirements and volatility exposure inherent in day trading. He discusses position sizing for intraday trades, the importance of stop-loss discipline, and methods for managing the psychological toll of rapid-fire trading decisions. The book also covers the practical infrastructure required for day trading, including data feeds, execution platforms, and order management.

Bernstein's approach integrates both systematic and discretionary elements, acknowledging that successful day trading requires a blend of mechanical rules and experienced judgment. The book addresses multiple markets including equity and futures day trading, providing market-specific guidance for each venue.

Note: This book is a scanned document without OCR text extraction available, so the summary is based on known content of this well-established work in the day trading literature.