Wiley; 2 edition | December 22, 2008 | English | ISBN: 0470395206 | 187 pages | PDF | 1 MB
The First Edition of Day Trade Online became a worldwide phenomenon--and reached the Wall Street Journal, New York Times, BusinessWeek, and USA Today business bestseller lists. Since it was first written over a decade ago, the stock market has evolved, and so too have the opportunities for profit. That's why renowned trading expert Christopher Farrell has created a fully revised and updated Second Edition of his popular guide, updated to reflect the changes to the structure of the NYSE including decimalization.
Opening with a detailed discussion of how Wall Street works--this reliable resource quickly moves on to reveal the inner workings of the short-term movements of the market and how stocks actually trade. From here, Farrell examines the mechanics of the market maker system, the role of the "specialist" on the New York Stock Exchange (NYSE), and the importance of the bid-ask spread; including the changes to the market structure that have occurred since decimalization, and the challenges that trader's face in a era of high speed computerized trading and predatory algorithms that have resulted from those changes. With this information in hand, you'll become familiar with specific strategies that will help you quickly spot trading opportunities and take advantage of short-term inefficiencies in today's market.
Filled with in-depth insights and practical advice, this step-by-step guide will help you:
Get started in online trading, avoid common pitfalls, and make money in any market condition
Incorporate short-term trading techniques that were once only known by highly paid Wall Street traders--such as the practice of exploiting the bid-ask spread--into your online trading endeavors
See the market from the perspective of an NYSE specialist or NASDAQ market maker, and profit from this newfound view
Learn why the fair order handling rules and recent changes to the NYSE can be your ticket to profit
Discover how to quickly spot trading opportunities before others, by using the NYSE's specialist system, and its so-called "house edge," to your advantage
And much more
The independent online trader can compete and thrive in a marketplace dominated by large Wall Street trading houses, but only by knowing their secrets and beating them at their own game. The Second Edition of Day Trade Online will show you