Electronic Trading Guide for NASDAQ Level 2
Author: Online Trading Academy, Jorge Jimenez
List Price: $49.95
Our Price: Click to see the latest and low price
ISBN: 096681150X
Publisher: Online Trading Academy (01 July, 1999)
Sales Rank: 34,937
Average Customer Rating: 3.07 out of 5
Customer Reviews
Rating: 2 out of 5
Some good mostly poor
There have been many books written since day trading became the next "gold rush." Many have presented a clear concise view of the dangers and pitfalls of day trading. This book does highlight many of the dangers of day trading. The book does not present sufficient information to begin properly day trading. There is no detail regarding how to identify entry/exit points, best brokers, the costs of commissions vs paid data feeds, and most important how to recognize when you are "churning" your own account. The risks and rewards of day trading are no different from investing in any of the financial markets. Unless you know what you are doing you are going to lose money. Unfortunatly, this book does not provide you sufficient information to begin day trading on a profitable level.
Rating: 1 out of 5
Not worth the money
i am starting as on OTC trader on Wall Street, and this book is absolutely juvenile. What the book had to offer was not even basic, and pointless... For example, in reading the level II screen section, they tell you to watch Goldman Sachs (GSCO), but to be careful, due to the fact the the GSCO market maker knows that many traders watch. And that basically summed up the Level II analysis. Bottom line, buy something else, ANYTHING else...
Rating: 1 out of 5
i wasted my money, you still have a chance not to
I was looking for a good intro to Level 2 and so bought this book, despite some of the reviews I read here. I don't consider it to have been a good use of my money. What's in this book is so elementary that it's of little or no value. Of course, you might be thinking that elementary is just what you're looking for. That's what I thought when I decided to buy it. But what I'm saying here is that what's in this book is really, really elementary---too elementary. Such as: they tell you what an up-trend is, and give a diagram---it's a stock chart that has the price moving up over time. Up-trends, we're told, are good for making money. Down-trends, we're told, are stock prices that are moving generally lower over time, and there's a chart to illustrate this. Down-trends, we're told, are to be avoided by traders. What I was really looking for was an explanation of how to decipher and use the Level 2 screen when buying/selling my stocks. I usually buy/sell in fairly large chunks (500-1000 shares) and I was wondering if the Level 2 screen could help me time the trades a little better and get better executions. Given the title of the book, it seemed like a fair assumption that I could get some insights into this from this book. But on the subject of Level 2, there was just the most basic description, basically just identifying parts of the screen. Very little other than that.
Overall, the book seems padded to me, with just the most elementary information and some extraneous material to fill it out. In thinking about who the book might be useful to, I couldn't really think of anyone I could recommend it to. It's a little hard to believe they have the nerve to charge this much money for what the work they have done here.
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