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How to Get Started in Electronic Day Trading: Everything You Need to Know to Play Wall Street's Hottest Game 1st Edition
By: Nassar, David S.; Nasser, David S.

This item is currently unavailable from the publisher.
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Synopsis:
This new book has everything you need to know about getting started in a fast-paced field of trading that is taking investing by storm.

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Jacket Description:
The gates of Wall Street, until recently locked tight to the average investor, have been thrown wide open! Electronic Direct Access Trading (E-DAT) puts all traders-from individuals at their PCs to multibillion-dollar professionals on level footing.

How to Get Started in Electronic Day Trading
takes you to the leading edge of today's electronic trading technology. This powerful book tells you how to blend NYSE and NASDAQ with the Internet and your own computer to stand shoulder-to-shoulder with traders worldwide. Regardless of the prevailing market sentiment-bull, bear, or sideways-its techniques and strategies will help you take advantage of the profit opportunities that occur every trading day.

Pioneering E-DAT trader and trainer David S. Nassar puts you in the cockpit of the most advanced trading platforms in the world:

- Quickly learn the rules and regulations of today's E-DAT marketplace

- Use stock trading simulators to hone your E-DAT skills before putting your own money on the line

- Trade directly with NASDAQ market makers

- Pocket substantial trading profits while limiting risk

- Use basic technical analysis to spot momentum and profit opportunities

- Dump unwanted shares instantaneously

- Fill your orders at the price you want-in as little as one second!

In addition, numerous examples of E-DAT strategies in action provide a firsthand feel for the realities of electronic trading. You discover how to trade the long and short side of the market; take profits of as little as 1/8 of a point as you protect yourself against downside risk; make money even when you're right only 30% to 40% of the time; use NASDAQ's Level 2 screen to buy on the bid and sell on the ask, making money on the spread as the market makers have done for years; and many other proven tips and strategies.

If you have a passion for the market-and a passion for fast trading profits while limiting risk--E-DAT is the answer. From hardware and software recommendations through sample trading plans and strategies, including pointers on how to identify the trading style, system, and broker that best fit your needs, How to Get Started in Electronic Day Trading launches you into the screen-based markets that will dominate the 21st century.

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Table of Contents:
Introduction vii
Welcome xv
Acknowledgments xvii

Chapter 1:
The Major Markets and Their Electronic Trading Systems 1

Chapter 2:
Trading Rules Become Laws for True E-DAT Traders 23

Chapter 3:
Navigational Aids for Trading in the Virtual Stock Market 41

Chapter 4:
Understanding Technical Analysis Keeps You Flying High 53

Chapter 5:
Thinking Like and Trading with the NASDAQ Market Makers 77

Chapter 6:
Defining Your E-DAT Style 99

Chapter 7:
Trading Strategies and Lighting-up Your Weapons Systems 115

Chapter 8:
Earnings 127

Chapter 9:
Stock Splits and Ratings Changes 139

Chapter 10:
The Simulator 151

Chapter 11:
Opening an E-DAT Account 161

Chapter 12:
The Virtual Universe of E-DAT 171

Afterword:
The Future of E-DAT 195

Appendix A:
The Market Makers and Their Symbols 201
Appendix B:
Glossary of Electronic Trading and Wall Street
Terms 205
Appendix C:
Market Indicators, Useful Web Sites,
Exchanges, and Books 213
Appendix D:
E-DAT Trading Software and Quotation
Services 219
Appendix E:
The NASDAQ 100 Index: A Target of
Opportunity 221

Index 225

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Review:
Book Review, by Jaye Abbate
Traders' Library


How to Get Started in Electronic Day Trading
By David S. Nassar

It's open season on Wall Street, with advances in technology making it possible for anyone with a computer to point, click and buy or sell a stock in seconds. Traders can also use this technology to help find new profit opportunities through the use of technical analysis and implementation of on line trading systems. Day trading, too, has become increasingly fashionable due to all the affordable new technology, although it can be a risky business.

The potential for reaping profits on as little as 1/8 of a point by implementing many of the new Electronic direct access trading (E-dat) systems continues to be a tremendous lure to the growing ranks of new on-line traders. Coupled with the ability to bypass the middle people, route your orders to the exchange using several different order entry systems, and trade directly with the market makers - more and more people are plunging into this fast-paced trading arena.

But where do you get started? How do you sort through all the new hardware, software and internet systems and develop the skills to stay in this volatile game for the long haul? David Nassar's new book is a great starting point. This step-by-step manual shows how to use your PC and the internet to buy and sell at the very best prices the market has to offer - just like the pros have done for years.

Divided into 3 main parts, the first 5 chapters cover all the basics of electronic trading:

- The major markets and their trading systems
- Ironclad trading rules the E-dat traders
- Navigational tools for the virtual stock market
- Getting an edge using technical analysis
- And, most importantly, how to trade like the NASDAQ market makers so you can run with their profits, rather than being overcome by them.

Chapters 6 through 10 are more strategy oriented. You'll learn to define your trading style and time horizon, so you can perfect trading strategies uniquely suited to your own goals and risk tolerance. Plus, you'll learn to utilize trading systems and identify trends that allow you to benefit from fast-breaking opportunities as well as more predictable trends.

The book concludes with all the how-to's of setting up an electronic stock trading account - from the terminology to finding an E-dat firm - it will help narrow down all the choices you'll be faced with. And Nassar also provides a question and answer section that offers practical advice on a host of situations E-dat traders typically encounter. You'll be able to avoid common mistakes others have experienced and learn how NOT to lose your money.

There has been an explosion of books and articles on electronic day trading in the last few months, as more and more investors are going on line to become masters of the their own trades. This book stands out from the crowd because it's one of the most simple, straightforward, clearly understandable manuals for traders of all levels to be sure they get up and running quickly and for maximum profit. And it's different than most of the others because it details strategies and systems essential to this new frontier, showing traders how to get in - and stay in - for the long term.

E-dat trading will soon be the only way to invest. So, be way ahead of the pack whether the market is bull, bear or sideways - by learning what you need to exploit the market and benefit every single trading day.

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