Customer Reviews

Electronic Day Trading to Win

5 star:		(26)
4 star:		(6)
3 star:		(0)
2 star:		(3)
1 star:		(5)

 

 

'Electronic Day Trading to Win' was the best of the books I found on day trading NASDAQ stocks. Coming from an engineering background, I get an understanding through examples. This book through examples carried the subject further than others by giving a more complete picture for selecting and timing stocks for trade. Besides covering the normal price chart patterns and support/resistance levels, the authors show how to use the volume at these levels along with NASDAQ Level II market maker information to make an educated analysis of which way a stock will move. This is a technical book which is well written, but covers a lot of important aspects of trading. This means that to absorb all the information, a chapter or two at a sitting is about all one can read with comprehension. Throughout the book, the authors stress leaving a back door open for getting out of a trade if needed using SOES (small order execution system). The main emphasis of the book is to expand gains and limit losses -- which is what I suspect most of us want to do. I highly recommend the book for anyone planning to trade. The book also gives suggestions for setting up a NASDAQ Level II trading screen. By setting the screen up, the reader gets a hands-on training on the capabilities on of the screen.

If you are new to the world of Day Trading, or thinking about starting, then this is absolutely the right book for you! Bob Baird and Craig McBurney did an excellent job presenting the facts on Day Trading in a way that was easy to understand for someone new to this fasinating field. Most of the articles and books I have read in the last 4 months were aimed more at experienced and seasoned investors while the written words sailed at least 25 feet over my head! "Electronic Day Trading to Win" speeks directly to the reader and explains day trading on a level that is neither condesending or vague, as I experienced from Brokers I had asked for advice. I learned more in the 2 days reading this book than I did in 4 months online and speaking to two brokerages! I read the some of the other reviews, and I'm sure there are other books out there tailored more for what they might need. And besides, if some people know so much about day trading, why then do they need to read books on the subject?

I couldn't believe this book received more than 4 stars. Or 2 stars for that matter, which I think it warrants.
Yes, it provides a good overall picture of what day-trading is and would be a superb book for the beginning practitioners who wants a better picture of the background of day-trading. But if you're looking for trading ideas and strategies, my advice is to skip this book. The chapter on technical analysis is flawed. There were a variety of charts which looked good on paper, but that was with the benefit of hindsight. In practice those analysis would never have been possible.
There's too much at risk if you put your money on the line using the trading ideas here.

Every book about Day Trading, Trend Trading, or Direct Access trading is attacked by the mainstream broker-powers-that-be. This book tells why. Because of this book, it made introductory stock market trading of an interest to me. I am now signed up for a trading school (the Boot Camp at Trading Academy). I have also read Dr. Tharp's new book on trading to financial freedom. It is now so OBVIOUS that a person who pursues this intelligently, has awareness-control of the psych-biases, and implements risk-management, position-sizing, and other simple rules--- can make a killing in the market. And the Onliners and traditional Brokers-- they want you OUT! If you are starting or thinking about [ANY KIND OF] trading-- this is a must read. If you are going to play a game-- you have GOT to know the rules. WLolli Escondido, CA calnra.org

Electronic Day Trading to Win is a not only a must-read for prospective day-traders, but for anyone dealing with equity investments. The authors reveal the evils carried out daily on the floors of the NYSE and AMEX, which was a real eye-opener for me. Day traders have been given a negative image by Wall Street and the media, and the authors of this book reveal the reasons why and go on to explain how intelligent, educated day trading can actually be LESS risky than position trading or buying mutual funds. Although I doubt most people have the discipline (or the cash) to become successful day-traders, the techniques and principles the authors promote can also be applied to any type of investing. If you have the requisite capital and the nerve, I believe you can make money using this book.

It is worth it's weight in gold if you really understand position sizing and exit strategies. If you don't really know yourself and the rules of the game daytrading will deplete your bank account really fast. Read Trade Your Way to Financial Freedom , by Dr. Van Tharp one of the orginal Market Wizards and you'll understand what I'm talking about. Daytrading increases your opportunities but if you do the classic mistakes you be the 90% who lose money daytrading. If you really understand the rules you'll be the 10% who makes all the 90% losses. I have been trading professionally for about 6 years now and this can give you some ideas.

This book tries to cover a wide range of subjects in one go. It could have been useful for the *complete* beginner, if only the information given did not include so many factual errors. Get separate books for each of the various subjects you have to study: execution systems (ECN's, SOES etc), technical analysis, money management. Do not believe that one simple book will make it for you. You have to work hard before you are able to play the game.

This is a book written at a time when Nasdaq was very close to its pinnacle in 1999. Not from hindsight (of the index level today), but sheerly by content, the book is full of flaws in nearly every topic it covers, especially those on Technical Analysis. Facts, and pure facts were abundant. However, trading system, strategy and insight were in short supply. The authors might have been so optimisstic and carried away by the beautiful picture they painted about trading in Nasdaq that money management and discipline had rarely been mentioned, and the "real tactics for real profits anytime anywhere" on the front cover were by and large absent.

p.s. This book contains the highest number of cartoon (eight) in those trading books I ever read. Sadly, most were drawn with one single theme, that "Day Trading would annihilate the brokers". That should have implied something about the direction and quality of the book, which I had mistakenly ignored.

Exceptional "how-to" introduction to Small Order Execution System as basis for informed trading that bypasses the brokers' fees and spreads, improves odds for favorable trades, and instills trading discipline to minimize losses. Many practical insights to enhance success. Heart of the book is the explanation of a "Trading Screen" that allows monitoring of market action for up to four stocks; includes price/volume charts and bid/ask quotes from market makers. (Reader can ignore occasional hype for writers' services.) Includes a short primer on technical analysis to alert day trader to what prompts technicians to move in or out of stocks. A worthwhile investment of time for the novice considering serious trading as a major source of income.

This is the best book on day trading I have read among many books. It is straight to the point without wasting the reader time. The preferences in the book are extremely easy to use. The approach and the language of the authors are user-friendly, in other words the authors of the book explain the concepts and ideas as if your best friend is explaing to you. This is what I liked the most about this book. I would definitely recommend this book to persons who are thinking of getting into day tradering as well as persons who need help in day trading. I would like to thank to the authors of this book from my heart for giving me oppurtunity to read about their ideas.