This publication can be regarded as a sequel to my first book, How to Day Trade for a Living: A Beginner’s Guide to Tools and Tactics, Money Management, Discipline and Trading Psychology.

In that first book, I explained the fundamentals of day trading and how day trading is different from other styles of trading and investing. In the process, I also described important trading strategies that many traders use each day. Although I sense my first book well-served many new traders, I know it left many more experienced traders looking for a more detailed guide. There was a sacrifice I had to make in writing the first book. That book was intended to be for beginners, and I had to make a choice between a detailed and very likely overwhelming guide, or a simpler guide that was aimed for the novice trader.

After much thought, I decided to review the entire day trading process, but not in significant detail. For example, I wrote about strategies and scanners, but I did not dive into the technical parameters of scanners that often leave new traders terrified and lost. I wanted to establish important and vital fundamentals and overview the most important strategies which need to be mastered. This, my second book, utilizes those fundamentals and strategies as a launching pad to explain some of the more advanced strategies and methods involved in day trading.

If you have read the first book (How to Day Trade for a Living), then Advanced Techniques in Day Trading will serve as a reminder, or a kind of refresher course on the basics, with a deeper dive into the technical. If you have not yet read How to Day Trade for a Living, I think you will find this publication’s somewhat condensed version of that basic information easy to understand as it then introduces you to more advanced techniques. To maximize your learning experiences, however, I recommend reading (and then regularly re-reading and consulting) both books. I believe you will find them to be useful guides and references at all stages of your career as a trader. And don’t just strictly study my books. There are many excellent resources out there. A successful day trader is definitely a lifelong learner.

Intermediate traders may benefit from the first book’s overview of some of the classic strategies that the majority of retail traders use effectively. If you don’t consider yourself a novice trader, then you may wish to jump ahead and start reading (or re-reading) at Chapter 7 for an overview of the most important day trading strategies. However, I encourage you to skim through the earlier chapters as well. Becoming a consistently profitable trader will not require you to master complicated new trading strategies every day. The strategies in Chapter 7 of How to Day Trade for a Living are the ones that traders have used for over a decade. They have worked thus far and really do need to be mastered. Work on simple and well-known strategies, but adjust them over time to complement your own personality and whatever the current market conditions are. Success in trading is not a revolution; it is an evolution.

Whether you are a novice trader or one with some experience, these books can equip you with an understanding of where to start, how to start, what to expect from day trading, and how you can develop your own strategy. Simply reading books will, of course, not make you a profitable trader. Profits in trading do not come from reading one or two, or even a dozen books, but, as I explain, profits can come with practice, the right tools and software, and proper ongoing education.

While I tried to avoid repetition, I must confess to traders who read my first book, some parts may seem redundant or repetitive. Again, a hard choice and a sacrifice had to be made. I want this book to be the addition to the first book, but still this book needs to stand alone and be coherent for anyone who is new to day trading or has not read the first book yet. Therefore, I apologize in advance if you find some parts repetitive. You may want to skim through those sections faster.