Introduction

Like the book by Andrew Aziz, this book also deals with day trading, but is of course also interesting for every trader/investor. At just over 100 pages, it is an entertaining read with valuable tips. A good read for in between. But don’t forget that day trading is not for everyone and shouldn’t be done by investing/trading newbies (see also note at the end of the article).

Book content

First of all, some basic requirements for trading on the stock market are dealt with. These include important aspects such as discipline, a consistent profit/loss calculation, keeping a “diary”, risk management and at least some principles in the psychology of trading.

As with Aziz, the author explains the most important technical indicators he uses to select his stocks. Please note that author Ross Cameron belongs to the website Warrior Trading. In addition to a number of free brochures and tips that are well worth reading, they also offer online courses for professional traders/investors. For a fee, you get direct access to chat rooms where you can follow active and experienced traders live. You get access to simulators and screeners that display buy/sell signals so that you can profit directly without having to have all the knowledge. A visit to the website is therefore definitely worthwhile.

Examples of technical indicators are usually demonstrated using candlestick charts. It is also nice that examples are given where you should stay away from them. Not every technical buy/sell signal is reliable, which is essential, especially in day trading with its required discipline. The bandwidth of the explained indicators ranges from Bollinger Bands, moving averages to classic candlestick signals, VWAP, gaps and support/resistance lines. There is no question that there are books that go much deeper into the subject of technical analysis, but this is not absolutely necessary for day trading, as there is no time for hours of analysis. Time is of the essence in day trading, and here everything happens every minute, if not every second.

The examples are explained with the so-called DAS console, but they can be transferred to other apps/trading tools with little experience. In any case, it is a good idea to know your way around your broker’s website/app so that you don’t lose time unnecessarily at the crucial moment.

Last but not least, examples are given of how to set up your own scanners. Many websites offer corresponding tools, many of them free of charge with even more options if you register for a fee. There is also an interesting chapter on trading against the trend, e.g. which technical signals to look out for.

Of course, you can also tell that the author’s goal is to register with his website, which is understandable as you have to pay for professional tips. One thing you can believe: if he wasn’t successful, he wouldn’t be able to run his business successfully. So a certain amount of trust is certainly deserved. As the website is almost a one-man show, it is certainly easy to contact the owner Ross Cameron directly, as it costs nothing to ask questions.

As with Aziz, the style is quite relaxed, but not quite so easy to read. This is more due to the sometimes rather long text sections, even if some graphics are generously interspersed, which, in contrast to Aziz’s book, are also very colorful and much easier to read. However, Aziz has the advantage that he explains the graphics with the explained signals somewhat better (also for the still layman).

Conclusion

As with Aziz, very suitable for beginners and advanced traders (see note below) who are looking for an introduction to stock market trading and especially day trading.

ISBN: 1504957725 (Amazon)

There’s a new edition (2023) from Ross Cameron that can be found here.

Note: Day trading is not suitable for everyone and can be very mentally demanding, even stressful. It is no comparison to medium and long-term investing or trading with a time horizon of several days. Day trading means buying/selling on the same day. This also requires the corresponding activation by the broker, otherwise you will be blocked after a few transactions (so-called day trading pattern rules). The author Ross Cameron also has a Youtube video (approx. 10 minutes) where he talks about day trading and his rules, especially as a customer of TD Ameritrade (now Charles Schwab after their fusion in 2023), you can watch his video here.

Day trading therefore also requires that you MUST spend a certain amount of time (not necessarily the whole trading day) concentrated on your PC/notebook without being disturbed. But if you are looking for a thrill, this type of stock market trading is very well suited and will hopefully bring you joy and happiness.