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Summary: There ought to be a website or chat thread for spreads
Review: First, there ought to be a chat board for traders interested in playing the spread. Anyone know of one? Second, be VERY CAREFUL when using this technique: make SURE you are trading in both an uptrending STOCK and GENERAL MARKET; only trade stocks with a significant volume; do NOT place all or none orders (AON)...I can't remember if this is mentioned in the book, but they'll be filled last; use good till cancelled (GTC) limit orders to avoid partial fills. IF you are trading bond funds or utilities, MAKE DAMN SURE there is not even HEARSAY about interest rate moves AT ALL -- you may be slaughtered. Avoid earnings releases/pre-earnings warnings, especially on downtrending stocks -- stay away from these stocks altogether!!!! Most importantly, after all that, when you place limit orders realize your discount broker is probably a market maker and none too pleased to miss out on his or her own scalp. And finally -- for chrisake! If you want to catch a rapid move -- don't use a limit order!! It took me too long to realize a teenie's just not worth missing a fill. Good luck. (email me if you have any tips or post them here...)Does anyone know of a book explaining the NASDAQ spreads? Are Market Makers the only traders on the NASDAQ able to play it?
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Summary: ez reading
Review: ez reading and holds your attention.Lots of commom sense in his thoughts
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Summary: An extermely overpriced book!
Review: After I had done with this book, just realized ... there're many familiar facts/infos can be found on other similar trading books. The only thing I can conclude is ... The author just too inexperience in volatile trading world not to say publishing a book to teach others... (trying to cover his lost in stocks?) as we can see... he himself can't even control and handle his emotion on down days... see page 224 "I find that when I hold a volatile stock overnight... trouble sleeping. I toss and turn all night worrying...." see page223"irrational thoughts were entering my head. I was angry. My brother was in the room and I was even mad at him..." Well, all these just happened few months before the book was published. How many novice investers had incurred a lost in stock market after reading this book? I wonder... My advice, son .... learn how to drive safely before you start teaching others! from A stock market veteran
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Summary: Excellent informative guide
Review: I was very impressed with this slim volume. It is concise and well written and very easy to understand. It is the kind of book which you read and immediately want to go and try the things suggested therein. While not a comprehensive guide I think this is one of the better books in the field.
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Summary: great book - concentrates on NYSE more than NASDAQ
Review: My husband and I were one of the first people to buy this book back in April - I think that the strength of the book is in how it details the trading psychology of the specialists (New York Stock Exchange) and the market makers (NASDAQ) and how the daytrader must mimic their precise moves if he/her is to be successful - I look foward to his next book - I also like "Secrets" by Friedfertig and West -
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Summary: A few Tidbits and nothing more than repitition
Review: Criticizing an author is a bit embarrassing but I have to admit that this opinion is only to guide others. Firstly, this book is for those intending to trade on NYSE. Chris (25) does explain to you how to look at the bid-ask spread and also what is invisible to the eye and mind when one trades online which was interesting. I have done quite a few trades using an online broker but admittedly not NASDAQ Level II. Outside of a few tips here and there, this book has nothing much to offer for those with some knowledge of trading. Most of the statements are repeated over and over again and much of what is written just does not carry over in a professional manner to sink in. My advice : Go get it from a library if its available there. I was a bit disappointed.
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Summary: Method does not work
Review: The trading method presnted in this book won't work. I've day traded stocks way before it became the rage.ALL THE FAFBRICATED positive reviews won't change that fact. There is an old Wall st. saying You can't eat like a bird and defecate like an elephant! The method proposed does just that. It doesn't work!
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Summary: Very understandable and could be utilized
Review: Stocks are mysterious enough, that despite points of repetition, he hammers his points home well. He explains "What's on the other side of the fence," in the stock business. No one else ever explained this, and I took lessons on becoming a stockbroker.
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Summary: GUARANTEED STRATEGY FOR FAILURE!
Review: I read the book cover to cover and can't remember the authortalking about partial fills one time. Buying 2,000 shares of a stockthat trades 20,000 shares a day with the goal of making a teenie ($125.00)? Give me a break! He should be ashamed. He will make a lot more from this book than he will ever make using this strategy. The only good part of the book was when he explained how he lost $12,000.00 in 24 hours.
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Summary: CHRIS HAS THE MARKET MAKERS ON THE RUN
Review: At only 25 years old, I'm amazed how someone so young can be so wise. I have read all the latest books on day trading but, Chris is attacking the subject from a different angle. I have used Chris's techniques of exploiting the bid/ask spread. AND I must say they do work and work Well. I would reccomend his book for all begining traders. Chris does an excellant job at explaining how the specialist and market maker system work. He also explains how to exploit the bid/ask spread on the NYSE. Instead of playing the momentum game on the NASDAQ. I'm making more money, on a consistant basis following Chris's techniques. I can't wait for his next book. Thanks Chris. As for you people writing negative reviews, we know who you are :-)
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