THE BUSINESS WEEK BEST-SELLER LIST
THINKING OF QUITTING YOUR DAY JOB to trade stocks full-time for your own account? Then you might pick up some tips from The Electronic Day Trader, No.5 on this month's hardcover best-seller list. But don't confuse its approach with conventional investing. Day traders execute hundreds of trades a day, hoping to rack up profits on tiny share-price moves. They shirk data on company earnings or analysts' ratings, making decisions on the basis of blips on charts and a steady flow of trading data.
If you really have this kind of video-game-like investing in mind, you'll want to learn some of the book's highly technical strategies. A typical bit of wisdom: ''Stocks that are down on the day and reverse, and turn positive on the day, are frequently good buys when crossing from minus to plus.'' You may also benefit from the book's history of how changes in regulations and electronic access to information have leveled the playing field between Wall Street and the rest of us. But bear in mind: Day trading is not for everyone. To implement the book's strategies, you must tap into pricey online trading systems with advanced charting and detailed, real-time quotes.
Authors Marc Friedfertig and George West are veteran day traders, but they aren't writers--the book is dense and occasionally impenetrable. Then again, readers of The Electronic Day Trader probably aren't after a good read as much as tips on making a fast buck.
1 THE 9 STEPS TO FINANCIAL FREEDOM by Suze Orman (Crown $23) Practical and ''spiritual'' steps for managing money.
2 THE MILLIONAIRE NEXT DOOR by Thomas J. Stanley, PhD, and William D. Danko, PhD (Longstreet Press $22) The penny-pinchers shall inherit the earth.
3 TITAN by Ron Chernow (Random House $30) John D. Rockefeller Sr., the devil and angel.
4 THE ROARING 2000s by Harry S. Dent Jr. (Simon & Schuster $25) The good times keep on rollin'.
5 THE ELECTRONIC DAY TRADER by Marc Friedfertig and George West (McGraw-Hill $34.95) Hopping in and out of the market electronically.
6 SELLING THE INVISIBLE by Harry Beckwith (Warner $16) A collection of bite-size lessons on marketing.
7 WINNING EVERYDAY by Lou Holtz (HarperBusiness $25) Follow your dream, says Notre Dame's ex-coach.
8 DIE BROKE by Stephen M. Pollan and Mark Levine (HarperBusiness $25) Forget about the will--and the conventional wisdom--says a financial adviser.
9 HOW TO BE A STAR AT WORK by Robert E. Kelley (Times Business $25) Tools for achievement--and for winning recognition.
10 CONTRARIAN INVESTMENT STRATEGIES by David Dreman (Simon & Schuster $25) A fund manager's unorthodox advice.
11 RAVING FANS by Ken Blanchard and Sheldon Bowles (Morrow $20) Turning customers into your biggest boosters.
12 UNLEASHING THE KILLER APP by Larry Downes and
Chunka Mui (Harvard Business School $24.95) How to ''achieve escape velocity from your current paradigm.''
13 GUNG HO! by Ken Blanchard and Sheldon Bowles (Morrow $20) How Walton Works No. 2 fired up its employees.
14 THE GORILLA GAME by Geoffrey A. Moore, Paul Johnson, and Tom Kippola (HarperBusiness $26) Spotting high-tech stocks that dominate their market niches.
15 BURN RATE by Michael Wolff (Simon & Schuster $25) The surreal life of an Internet startup.
1 THE SEVEN HABITS OF HIGHLY EFFECTIVE PEOPLE by Stephen R. Covey (Fireside $14) Habitually popular.
2 YOUR MONEY OR YOUR LIFE by Joe Dominguez and Vicki Robin (Penguin $12.95) To achieve financial independence, restructure your life.
3 THE MOTLEY FOOL INVESTMENT GUIDE by David and Tom Gardner (Fireside $12) The online duo puts it on paper.
4 BUILT TO LAST by James C. Collins and Jerry I. Porras (HarperBusiness $15) How 3M, Wal-Mart, Procter & Gamble, and others became standouts.
6 THE WALL STREET JOURNAL GUIDE TO UNDERSTANDING MONEY AND INVESTING by Kenneth M. Morris and Alan M. Siegel (Fireside $14.95) Concise explanations enriched with graphics.
7 GETTING TO YES by Roger Fisher, William Ury, and Bruce Patton (Penguin $12.95) A Harvard team's step-by-step guide to conflict resolution.
8 THE ONE MINUTE MANAGER by Kenneth Blanchard PhD and Spencer Johnson M.D. (Berkley $11.95) Three management techniques, conveyed in brief story form.
9 INVESTING FOR DUMMIES by Eric Tyson, MBA (IDG Books $19.99) From stocks to small business--with cartoons, too.
10 1001 WAYS TO REWARD EMPLOYEES by Bob Nelson (Workman $10.95) Give them a champagne brunch, a casual-dress day--or plain old cash.
11 SUCCESS IS A CHOICE by Rick Pitino with Bill Reynolds (Broadway $13) Coach says work harder, harder!
12 THE E MYTH REVISITED by Michael E. Gerber (HarperCollins $15) Starting and maintaining a small business.
13 YOUR FIRST YEAR IN NETWORK MARKETING by Mark Yarnell and Rene Reid Yarnell (Prima $15) How to survive the first few months as a multilevel marketer.
14 THE MOTLEY FOOL INVESTMENT WORKBOOK by David and Tom Gardner (Fireside $12) ''So where do I find stocks?'' and other queries, asked and answered.
15 PERSONAL FINANCE FOR DUMMIES by Eric Tyson (IDG Books $19.99) Lighthearted primer.
By AMEY STONE
Updated Aug. 27, 1998 by bwwebmaster
Copyright 1998, Bloomberg L.P.