The Stock Trader: How I Make a Living Trading Stocks - Hardcover

Oz, Tony

Hardcover

ISBN 10: 0967943507 ISBN 13: 9780967943503

Publisher: Goldman Brown Business Media, 2000

Synopsis

"Put your money where your mouth is," came the challenge. So he did. Best selling author, Tony Oz, was challenged by Tim Bourquin and Jim Sugarman, founders of the International Online Trading Expo, to prove that his stock trading strategies work, that he could consistently take higher-than-average returns out of the market. To meet the challenge, Tony kept a trading diary for four weeks, documenting each and every trade he made. The simple story that unfolded turned out to be of much greater consequence than anyone could have foreseen, as Tony chronicled a first-hand description of one of the worst stock market crashes in recent memory. Tony was already into his four-week trading challenge at the peak of the Nasdaq market, just before the Crash of April 2000. Having no idea at the time that he was in the middle of a correction that would wipe out over two trillion dollars of stockholder s equity, Tony managed to earn respectable profits each week, and had only a few losing days. What is truly extraordinary is that all trades were on the Long side not one trade was selling Short in a rapidly declining bear market. The results of the challenge are detailed in this exciting new book. Inside, Tony tells how he chose a broker, set up an account, and then drew a handsome income from the stock market each week, earning a 56% return on his capital in one month more than most investors earn in a year. Over 100 round trip trades are recorded, charted and explained in a daily trading journal. Tony reveals what he was thinking and feeling, and he explains each trade s strategy, and his profits and losses - all the while walking the reader through his simple methodology and simple rules. At the end of each week, he ordered a check from his broker to sweep his account, and prevent compounding of profits. After all, Tony explains in the book, Friday is payday."

About this title

About the Author

Tony Oz is a professional short term-trader who is recognized by industry leaders as one of the nation s top traders. Tony's first book, "Stock Trading Wizard," is based upon his own personal trading and teaching experiences, and has enjoyed critical acclaim from serious traders all over the world. With a family legacy of stock traders behind him, Tony burst onto the public scene as the three-time winner of the Classic Hedge Hog Stock Picking Contest, defeating 2,300 other contestants with his four-weeks triple-digit returns. Tony is a frequent and popular speaker at trading conferences and conventions, and writes many educational and market analysis articles. He is a founding member of the internationally famous Day Traders USA, and a respected consultant in the development of stock trading related software.

From the Inside Flap

From the back cover:

The Challenge: "Mr. Oz, this is what you have to do. Start from scratch, select a broker, open an account, trade for the next four weeks obeying all money management and risk management rules outlined in this book, and show us, all your executed trades - winners and losers."

The Result: A ground-breaking book showing how a professional trader makes his living during the biggest crash of the last decade. This is an amazing opportunity to spend four weeks with Tony Oz and learn how he trades stocks for a living. If you think daytrading is gambling, this book will change your mind forever! If you ever wanted to look over the shoulder of a master trader, this is your chance.

Excerpt. © Reprinted by permission. All rights reserved.

Introduction:

When I was a sophomore in high school, I woke up one morning not feeling so well, and decided that skipping school was a good idea. But I had already exceeded the number of allowable sick days, and a note from my parents was not sufficient anymore. I needed a doctor s note. So, I made my way to the clinic and got the doctor s note I needed. On my way back home, I passed by a lottery stand. There was a big prize for the next drawing, so the large sign drew my attention. I walked towards the stand, and saw a soldier in uniform buying a lotto ticket. It was a scratch-off ticket, where you find out instantly if you win or lose. I watched the soldier scratch the ticket and win $3.00. The vendor asked the soldier if he wanted the $3.00 or if he wanted three more tickets. The soldier turned to me and asked, What do you think I should do? Without hesitation, I replied, Take the money. The soldier took my advice, collected his money and left. There was an old man standing by the booth where this incident took place. He looked at me and said, Young man, why don t you take his luck? I replied, I don t think so. These type of lottery tickets are the biggest sucker game, and besides, I only have enough to buy the other lottery ticket. The old man looked into my eyes and said, Why don t you take his luck? I can t exactly explain why I did it, but before I knew it, I reached in my pocket and bought the lottery ticket the old man suggested. I started scratching the ticket, and I won! I won the jackpot! $15,000 to be exact.

I was so excited that I practically broke the world record for the 400-meter sprint. I ran home so fast I even lost the doctor s note in the process! I called my parents immediately, and they did not believe me. However, they quickly became believers when I surprised them with a $7,000 gift. The wonderful thing about winning this money was that I now had money to speculate with. I finally had risk capital. Watch out, Wall Street , here I come!

Foreword:

I sat down at one of four monitors, still only half-awake while sipping my third cup of coffee since 3:30 am. The trading day starts early in California, and it took almost an hour to get here. But whenever a great trader invites me to watch him trade, I feel compelled to take full advantage of such a golden opportunity. Little did I know how extraordinary this experience would turn out to be.

For his second Book, a follow-up to his instant classic, "Stock Trading Wizard," Tony Oz wanted to show the world how he trades stocks for a living. And as I watched for the next four weeks, all of his trading activities were documented in a detailed trading diary. The idea was simple, and the formula classic. He would invite everyone to take an intimate look into his activities as he explains the strategies and processes behind his actions. It s a recipe that has worked for centuries, as Master entrusts to Apprentice a lifetime of knowledge and experience.

After having received an exciting challenge from the founders of the International Online Trading Expo, Tim Bourquin and Jim Sugarman, Tony planned to hold nothing back, providing all the decisive details of each trade, including the thoughts, strategies, surprises, and problems, and how he dealt with the moment-by-moment challenges the Market presented him.

Such a book had never been attempted before. No trader has ever put their reputation on the line with this kind of honesty. It s easy to search through past trades and present the best ones. But no trader has come forth in advance with the candor to say, For the next four weeks, I will reveal my every move, for better or worse, entries and exits, winners and losers, with all my profits and losses.

Presented in these pages, 116 Round Trips are documented, including the charts, illustrations, and formulas. Tony explains the research and preparation; the joys and frustrations; the exhilarating victories and disappointing defeats. And of course, the blow-by-blow descriptions of each battle between Emotions, Decisions, Market Makers, and Technology.

In this fascinating account, readers will quickly find themselves immersed in the action as Tony weaves his narrative. The chess game never lets up, as The Stock Trader matches his wits with the best the Market can throw at him.

And by an astonishing coincidence of timing, trading for this book was in full swing during the Great Crash of April, 2000. When the devastation was complete and the carnage had exhausted itself, The Stock Trader rose from beneath the rubble triumphantly wielding his profits, unbowed and unscathed, from a Market where over Two Trillion dollars had been obliterated within a mere fourteen days.

Most traders would agree that studying the actions, strategies, and emotions of a great trader is an opportunity anyone, regardless of experience or viewpoint, can benefit from. This book is a treasure in that regard, and is sure to become a classic, as Tony demonstrates with his simple methods, that you too, can make a living trading stocks.

Edition details

• Publisher: Goldman Brown Business Media
• Publication date: 2000
• Language: English
• ISBN 10: 0967943507
• ISBN 13: 9780967943503
• Binding: Hardcover
• Edition number: 1
• Number of pages: 279