Day Trade Online

Rating:
Summary: Good for knowing how the market works
Review: I give it 2 stars according to the subject of day trading. But for how the market works it should take 5 stars. He talks too much about the specialites and market maker.

He has alot of repeated sentences.

He wrote about the psychology of being trading alone and his memories.

His idea of buying in the bid and selling in the ask in NYSE can be understood from the beignning of the book.

He has too littel explaining in the momentum trading But he talked about the market maker in the Nasdaq and how they affect the momentum

If you are looking for a book about day trader try something else but if you are looking for how the market work this is it.

Rating:
Summary: Very New To Daytrading....
Review: I have been buying into mutual funds and a few high flying tec. stocks for a couple of years now. So I thought reading a couple of day trading books might give me a investment techniques that would work. Day Trading Online just happen to be the first book I picked up, and the idea of scalping the market sounds boring but could work. Over all I thought the book was very well written and was very easy reading. I have not tried this method yet and would like to know if it will work, and the proper way to go about it. Anyone with a helpfull idea, it would be great to here from you..Please drop me a line at [e-mail]

Rating:
Summary: Very New To Daytrading....
Review: I have been buying into mutual funds and a few high flying tec. stocks for a couple of years now. So I thought reading a couple of day trading books might give me a investment technique that would work. Day Trading Online just happen to be the first book I picked up, and the idea of scalping the market sounds boring but could work. Over all I thought the book was very well written and was very easy reading. I have not tried this method yet and would like to know if it will work, and the proper way to go about it. Anyone with a helpfull idea, it would be great to here from you..Please drop me a line at [e-mail]

Rating:
Summary: Contact [e-mail]
Review: Articulate and essential information - for anyone starting out to trade - on the bid ask spread, role of specialist and market makers and how to make teenies in non-volatile stocks. Even if a bit repetitive Mr. Farrell has taken the trouble of writing a very clear/explicit description of what is an essential foundation to trading whether you use his particular teenies grabbing technique or not. Its allowes an understanding of more complex/subtle strategies outlined in other books that might otherwise easily lose one.

The book would have benefited from more practical defense details in the event the trade starts moving against the trader with a build up of offers, which will occur at times even in low volatility stocks given the time it can take to get filled.

Over a 7 day period and a $6000 account. I had 15 winners 5 losses and 2 draws. Only problem is that two of the losses were heavy; Trying to chase down and sell a falling stock towards the close (which had been been static till then) with limit orders doesnt cut it. Only a Mkt order will work. Also very frustrating to be clearly in first postion to be filled, getting partially filled, and then see others comming on board and getting filled in front of you.

Clearly with a larger account and several positions at a time there should be less boredom and greater profitability.

Rating:
Summary: In the process of reading, need advice.
Review: I am in the process of reading day trade online which i checked out from my local library. I am on page 110 and am almost ready to get into the chapters that explain how to make the teenies. I need some insight from some honest people to tell me if this method really works and by what means they trade, ie what stock quote service do they use and which online broker to use. If seconds matter, placing the order would take up to 5 seconds in the first place with ameritrade. I have about the capital that he says is necessary for part time traders, maybe a little more. I also don't believe trading on margin is necessary, is it? Why risk somebody eles money if you are unsure about risking your own. I just need people to reassure me that this works. How practical is it now that the NYSE has switched to decimals, is it outdated? Please help out and send an email to [e-mail]

So far I have found the book pretty informative. And as other reviews have said, it is repetitive but this is necessary. If all books which tried to teach you something, and just said it, then books would be 10 pages long. I believe that understanding the big picture is necessary if you are to later come up with your own ideas and conclusions.

Thank you and please help [e-mail]

Rating:
Summary: The Consistent Money Is Here In The "Teenies" Strategy
Review: I have been applying the "Teenies" strategy, discussed in Christopher's book, for over a year and a half. The cashflow I bring in daily averages from $600 to $900. That's the net from both my winning and losing trades.

The are two brilliant, yet simple elements to this strategy. The first is the focus on singles, not home runs. Home runs are the illusions that kill most daytraders today. The second key element involves limited risk. This strategy sets you up to be disciplined. You don't need a whole lot of money to make this work and you don't need to put your entire portfolio into each trade. You put on a bunch of small trades which limit your risk while increasing your odds of success. Best of all, the "teenies" strategy works in all types of markets (up,down, sideways).

A book worth reading? Absolutely! It's paid for itself many times over.

Kirk H. Alamo, CA

Rating:
Summary: A very educational and stimulating read
Review: I was more of a high risk 1 to 2 day swing trader rather than a safer low risk sec to sec scalper yet I throughly enjoyed this book, Chris knows how to get the readers attention with his style of writing, The book has encouraged myself to become more knowledgeable in the ways of scalping. I will now seriously consider scalping on the NYSE, making low risk returns, using the techniques he describes very clearly. I hope to start taking food right out of the specialists mouth as he so succinctly puts it! The book is worth many times its purchase price and I strongly encourage those who are only considering, to buy it

Rating:
Summary: Profitable Strategy
Review: I enjoyed this book very much even though it was repetitive. This strategy will work on low volatility stocks. The author seems to have been successful with this strategy. I got burned a few times on the higher volatile stocks but when the low volatile stocks trade, and you can get on the right side of them it can be profitable. The only problem is that they sometimes don't trade. For the most part, it was a good read..

Rating:
Summary: good on specialist system and how orders are handled -
Review: Book is good on market mechanics of NYSE stocks and the specialist system - to my knowledge, it is the only online trading book that devotes almost the whole thing to NYSE - almost all of the other daytrading books are for NASDAQ traders -

here are my thoughts after experimenting -

(1) strategy works but the problem is not making money, it is actually getting the execution at your buying price - I made money on about 80% of the trades that I was actually able to buy - but, I only got filled on about 1 out of 6 of those bids in thge truly low volatile stocks that trade less than 40,000 shares per day -thus, much of the day is spend tending to buy orders that never get executed - so even though it is a "high percentage" trade, the skill lies in picking those stocks that are most likely to trade at your price.....which was difficult for me as someone new to the strategy....

the book talks about wide spreads - if you take a stock that is 6 to 6 1/4, the strategy is to bid 6 1/16 - if you can buy it there, the odds say that you will make a profit - but, the odds of buying it there are probably 1 in 6 -

(2) it can be tough to sit there all day and watching stocks like a hawk that only trade a few times per hour -

(3)would like to have seen more than 30 pages of book devoted to NASDAQ......

(4) should have been more ink on what happens when trade goes against you

all in all, for $20, I learned a great deal about a market that is often shrouded is misunderstanding and secrecy - can I turn that into cold hard cash? if my orders get filled, yes - if they don't - no

Rating:
Summary: How NYSE Specialists make their "bread & butter"
Review: A read this book about 1 year ago, and as many people have said in their reviews, it is highly repetitive. I am very suprised that most of these people actually finished the book since they where complaining so much about it. Myself I thought it was an interesting read, and how you can possibly exploit the Specialist in his own game. I have yet to try this. I thought one of the reviewers of this book highly suspicous: "explosive material - follow the smart money" - I am not sure how a quantitative analyst can make a comment like this. I have worked for several investment banks and Hedge Funds closely with Quantitative Analysts, and there is absolutelt NOTHING in this book that is quantitative. (Maybe the way to find the high volume non volatile stocks), and how can you back test his strategies??? You can also not apply this method with high volume (large quantitiy of shares, 5000 max) and then it makes no sense for Goldman Sachs, DLJ and Prudential to utilize strategies like this. They would never pay a person hundreds of thousands to piddle around with that little money. Sounds like the author is writing about his own book.. Am I right??

Otherwise, I think the book was interesting, albeit repetitive.