How to Day Trade for a Living Book Review

A Beginner’s guide to trading tools and tactics, money management, discipline and trading psychology


Overview

As the slogan of the book says, the How to Day Trade for a Living is a beginner friendly guide to day trading. It covers everything you need to know to start trading, the knowledge to practice and become a day trader. It describes important topics in trading that are often not mentioned in other courses/books such as money management, the discipline and the trading psychology.


We strongly recommended this book over any other books about day trading. The two main reasons behind this affirmation are due to the transparency of the author on the subject of day trading as well as the amount of great knowledge provided on day trading. Often day trading is seen as an easy lifestyle where you expect to get rich quick. The author really emphasizes on common beginner mistakes. He is transparent about the fact that day trading is hard and that it will require a lot of time and practice to be a good profitable day trader. The knowledge provided in the book is well explained and it is straight to the point. The book contains a lot of information. It is also very easy to read. You can very well finish the book in a day if you wanted too.


The author does, at times, mention having to use paid scanners to find stocks that match certain criteria, his chatroom and his website where he posts his buy and sell orders. We do not recommend these paid services, but nonetheless we recommend all the material and knowledge that is contained in the book. All the services that are mentioned by the author can be found for free online. There are free scanners, free chat rooms such on Discord and Reddit and professional traders that show their buys and sells for free.



Author


The author is Dr. Andrew Aziz. He is a financial trader and the Principal at Bear Bull Traders. He also has a Ph.D. in chemical engineering from the University of British Columbia. He is a full-time financial trader. Dr. Andrew Aziz has been a full-time financial trader for several years.


What is included in the book?


The book is a perfect guide for day trading. It includes many graphs in which the authors break down the technicalities on it. He also includes 9 trading strategies that are quite straightforward and simple to understand and apply.


The book is organized by the following chapters:


Chapter 1: Introduction

Chapter 2: How day trading works

Chapter 3: Risk and account management

Chapter 4: How to find stocks for trades

Chapter 5: Tools and platforms

Chapter 6: Introduction to candlesticks

Chapter 7: Important day trading strategies

Chapter 8: Step-by-step to a successful trade

Chapter 9: Next Steps for beginner traders

Each chapter is rich in information and covers the topic very well. All the topics covered in this book are necessary to trading.


Pros

  • Beginner friendly

  • Best price value

  • Covers important topics like money management, discipline and trading psychology

  • Transparent book that warns about all the pros and cons of day trading

  • Rich in information

  • Simple straightforward trading strategies

  • Easy to read

  • Cover everything from trading platforms, brokers, etc. Basically, everything to begin trading.

  • The information given matches swing traders

  • Graphs with examples

  • Book helps you decide if day trading is something you would like to do for a living

  • Authors mentions all the common mistakes made as a beginner trader


Cons

  • Not for advance traders.

  • Graphs are on a black and white scale. Still very easy to determine that green candlesticks are the white candles and red candlesticks are dark gray candles.

  • The author refers at times to his website to look at his buys and sell, scanners and chat rooms that can cost money. We do not recommend his resources since the same stuffs can be found for free. Read the book more for the knowledge.

  • If you decide to join his chat room that is paid, you will notice that the author only does sessions of 30 minutes to one hour maximum. It is not worth it.

  • Most examples are with a large capital. Regardless of the capital, the technics and knowledge stay the same with a small account size.


Is the book worth buying?


The How to Day Trade for a Living book is definitely worth buying to anyone that wants to learn about day trading, whether you are new to the stock market or even an intermediate trader. This book is by far the best guide to day trading. It is also very affordable and worth every single penny.

Note that buying this book will not guarantee success. It will provide you with the necessary knowledge and the mindset to trade. Day trading is very difficult, and it takes time and practice to become successful.