Customer Reviews

Direct Access Execution: ECNs, SOES, SuperDOT, and Other Methods of Trading

5 star:		(2)
4 star:		(0)
3 star:		(0)
2 star:		(1)
1 star:		(3)

 

 

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I honestly do not know what the author is talking about. In every chapter he just beats about the bush without providing any useful information.

If it is a chapter on Tradescape (the title of the chapter is actually Tradescape) - the author provides a snapshot of the screen and goes on talking in general terms about investment portals, ECNS, their usefulness, price consideration, history, anything except how to use Tradescape.

If it is chapter on SOES - it does not have any reasonable description of how it works and what to do with it from either technical or trading perspective. The only two pieces of information which are provided in the chapter on SOES are completely wrong - i.e the book says that the maximum number of shares in SOES transation is 100 when it is actually 1000. 5 minute rule is also interpreted incorrectly - the author does not explain that the transactions in the opposite direction are allowed within 5 minutes (i.e buy after sell or sell after buy).

I did not find a picture of Level II screen in the whole book. How can one possibly talk about SOES, SelectNet, SuperDot, ECNs without even showing what information is available on Level II.

What a piece of junk!

This book has two problems: First, it's out-dated and second, Mr. Patel writes in a sophmoric, anecdote-ridden style.
If you're really looking for a practical guide to direct access service providers and markets, I suggest you contact the research departments of your local full-service brokerage firm and ask for industry reports on the subject. There's several firms that have published 20-65 page reports that explain every point of a direct access trade* from start-to-finish.
Save your money, and pass on this one.

* direct-access service providers, broker/dealer, clearing, markets & market systems, etc.

like all the black girls at the office say: "Simit? Uhhh, he so fine" ...and, really, thats how I feel about this book. It so fine. I am looking forward to the follow-up called Indirect and Unaccessable Execution: SuperDOT my ass!.

Don't buy this book unless you want to turn out like me. This book got me fired from 4 consecutive jobs. I panhandle now. This book also got me divorced and then orphaned my children. Reasonably priced though.

This is the best book in market. If you are really trading person then you should go for it. Nice writing. Nice job. Keep up the good work.

in his first book, mr. patel tried to write something he obviously knew nothing about. which only proved he is destined for life on the streets. and that he smells.