Ken Bednar
The author explains why day trading is a losing proposition for 90% of the traders who try it. Surprised? The author gives a detailed explanation along with facts and testimony to verify that most day traders will lose a significant amount or all of their trading account within six months to a year. The author delves briefly into some of the emotional aspects a trader may experience that may affect them and all around them. He explains that there is a 'trading establishment' promoting the illusion that day trading or stock trading in general, is an easy way that anyone can make money by trading the stock market at home on their computer. He questions why there are thousands of books on how to trade the stock market written by authors who can not guarantee anything but make a royalty fee on every book they sell. The author wrote this book to give a true perspective on what to expect when day trading or short term trading the stock market. He does not try to discourage anyone from trading, merely to know what to expect if they do decide to lose their money this way. The book explores what moves the market and why most of the books, indicators and trading systems are designed to purposefully keep you confused. He explores briefly how the Federal Reserve is responsible for every boom and bust cycle since its inception. The author writes with a little humor, and a lot of facts and analogies to make the book interesting from front cover to back cover.
