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Synopsis:
Every investor's guide to Wall St's hottest phenomenon. Savvy traders …curious investors …true rookies …anyone can take action, and learn to stay in the game …with this excellent new guide. Find … - Troy's T3 - 3 cardinal rules to keep risk as low as possible - Transformers - a toolkit of steps that'll take you from the sidelines to the action - Interviews and insights from day trading's top tier
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Jacket Description:
As you read these words, hundreds of thousands of online traders are building solid futures across the country, many starting with little more than a few dollars, a small home computer, and some smart, simple lessons from someone who's been there before. Now you can join them-and discover how author and novice online investor Carol Troy more than doubled her investment in four months.
Understanding Electronic Day Trading will get you started. This dynamic book takes you inside the exciting arena of online trading, providing a concise, direct overview of what electronic trading is today-and what you will need to do to begin trading your own account.
Why now? Because with online trading still in its infancy, the opportunities available to individual traders may never be better. In addition, every day that you are not online puts you another day behind. Unlike years past-when Wall Street traders were forced to pay thousands of dollars a month to buy information-you can use your personal computer to get breaking financial news and real-time quotes online.
No longer are the inner workings of the market hidden behind curtains and double-talk- They are right there, flowing across your home or office computer screen. When you see a favorable price, you simply select it yourself-buying it at wholesale prices by avoiding the middleman and locking in a lightning-fast trade execution with the push of a button. If you don't like the price, you simply walk away to trade at another time.
It's a new way of looking at investing-a 21 st century way-and it's available to everyone. Understanding Electronic Day Trading uncovers the exciting ways investing online can change your life. Look inside to find out:
- How you can teach yourself to be an online trader-starting with as few as two or three trades a day or week
- The difference between fast-action, high-pressure day trading and the more relaxed style of online trading
- The T3-Three types of orders that cover your risk and guarantee you will always keep control of your trades
- How traders are profiting now-and how you can see rule changes coming and prepare for them
- Online resources: The best free sites for quality information on markets and individual stocks
- Specific areas of the market that are yielding the highest profits to short-term investors
LEARN FROM THE BEST Sit and chat with some of the stock market's heaviest hitters, including:
- Alfred R. Berkeley III, President, NASDAQ
-James Lee, Founder, Momentum Securities
- Robert M. Greber, Chairman and CEO, Pacific Stock Exchange
- Edward J. Nicholl, CEO, Datek On-Line Holdings Corp. *William A. Lupien, Chairman, OptiMark Technologies, Inc.
- Alan Hirschfield, Chairman, Data Broadcasting Corp. (Former Chairman, Columbia Pictures)
- Matt Andreson, President, Island ECN
- Geoffrey Moore, Author, The Gorilla Game
Nothing equals the excitement of making money in the market, and online trading has become today's hotline to that wealth. Understanding Electronic Day Trading tells you what is happening in online trading today ... what will be happening tomorrow ... and how you can begin feeling the pure pleasure of watching your money grow. Use its lessons to learn how you can get in now, cover your risk, master the rules, and use online trading to build your financial future in an arena that you control!
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Table of Contents:
This Book's for You
Acknowledgments xv
Chapter 1:
Where's the Money? 1
Interview with Edward J. Nicholl, Datek 8
Chapter 2:
The Wild Ride of the EDAT Bandits 13
Interview with James Lee, Momentum Securities 28
Chapter 3:
The Growth of Major Markets and the New Trading Realities 35
Interview with Robert M. Greber, Pacific Exchange 42
Chapter 4:
The New Cybermarket 47
Interview with Alfred R. Berkeley III, Nasdaq Stock Market 59
Chapter 5:
Getting Online and Getting Educated 73
Interview with Geoff Goodfellow 85
Chapter 6:
Online Resources for Online Trading 91
Interview with William A. Lupien, OptiMark.Technologies 110
Chapter 7:
Industry Focus for Fun and Profit 115
Interview with Alan Hirschfield, Data Broadcasting Corporation 131
Chapter 8:
Home Base: Choosing an Online Broker 139
Interview with Mark Andresen, Island ECN 170
Chapter 9:
Warning: If You Try This at Home 177
Interview with Bill Burnham, CSFirst Boston 190
Chapter 10:
The Future Is Now 199
Interview with Geoffrey Moore, author of The Gorilla Game 202
Index 205
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