The Electronic Day Trader: Successful Strategies for On-line Trading
Author: Marc Friedfertig, George West
List Price: $16.95
Our Price: Click to see the latest and low price
ISBN: 0071364285
Publisher: McGraw-Hill Trade (24 August, 2000)
Sales Rank: 46,951
Average Customer Rating: 3.45 out of 5
Customer Reviews
Rating: 3 out of 5
This is a very interesting book
This is a very interesting book and useful if combined with the Secrets of Electronic Day Trading also created by the same authors. We are not sure that the discussion regarding Specialists is still that useful because it is our understanding that specialists do a great deal more hedging with options than when one of these authors worked on the AMEX. However, with regard to listed stocks you get to see how a trader of New York stocks thinks. It is part of the evaluation process that we do all day long. This book's strength seems to be with NASDAQ stock trading. Which makes sense since the authors own a SOES firm. On CNBC the author stated a new trader should learn how to trade by trading 100 shares. We agree. You are not going to sit in front of a screen and be a great trader; without understanding, experience and discipline. After all did the net stocks go up forever? After Yahoo went up over 200 was it still a hold. I guess it depends on the size of your account and your time horizon. This book explains a very simple method of day trading. It surprisingly works for a few very skilled practitioners. We know it works because we do the same thing, (mostly on New York stocks). If you have experience you might pick up the nugget of wisdom in this book. Without experience you need to read the follow-up book because the useful piece of information gets drilled into you by every real daytrader they interviewed.
Rating: 1 out of 5
What became of Broadway Trading, LLC??
They went bankrupt, which is where you would be if you followed West and Friedfertig's methods. The book was a copy of Jack Schwager's Market Wizards series, due to the interviews conducted with "traders". You would be amazed if you saw some of these people and didnt read their words in print. Somehow they would not come off so sharp. Trust me!Also do you think our authors would be able to spot "managerial talent" over a few aspiring proprietory traders? No they hire guys who have previously filed bankruptcy in their past and pipe up their accomplishments, which are a joke when you realized they bailed on creditors!!
Save yourself a dime and avoid it-if someone gives it to you, and you can't return it, use to start the BBQ grill. I could go on and on about SEC/NASD violation, getting short on a downtick, etc but I wont!
Rating: 1 out of 5
Obsolete
This book completely fails to realistically convey the relative risks and profit potential for the average wannabe day trader. Im talking about someone with less than a few thousand to play the market. Unless you have big bucks and Level II quotes forget day trading unless you are very lucky. In the trading parlance, I wish I had a short position on this book at its current price, and could cover my short at the current used price! Save your money. Similar Products
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