Customer Reviews

Electronic Trading Guide for NASDAQ Level 2

5 star:		(7)
4 star:		(0)
3 star:		(0)
2 star:		(3)
1 star:		(5)

 

 

POORLY EDITED AND LACKING DETAIL. TO DATE I HAVE READ, "HOW TO GET STARTED IN ELECTRONIC DAYTRADING," "THE ELECTRONIC DAY TRADER," "TRADING ONLINE," "ELECTRONIC DAYTRADERS SECRETS," AND "THE DAYTRADERS ADVANTAGE." "ELECTRAONIC TRADING GUIDE FOR NASDAQ LEVEL 2," WAS BY FAR THE WORST BOOK OF ALL.

IF YOUR LOOKING FOR A BOOK ON HOW TO READ A LEVEL 2 SCREEN OR ON DAY TRADING TECHNIQUES IN GENERAL, DO NOT BUY THIS BOOK. FIRST OF ALL, THERE ARE ONLY 4 PICTURES OF LEVEL 2 SCREENS AND ONLY 1 OF THEM IS IN COLOR (THE COVER). HOW CAN YOUR TEACH PEOPLE HOW TO READ A LEVEL 2 SCREEN IN BLACK AND WHITE? YOU'D THINK YOU WOULD AT LEAST GET COLOR.

THE AUTHOR STATES, "YOU WILL LEARN TO TRADE THE ELECTRONIC NASDAQ USING LEVEL 2 SCREENS." HOW MISLEADING! YOU WILL NOT LEARN HOW TO READ LEVEL 2 SCREENS WITH THIS BOOK.

DO NOT READ THIS BOOK AND THEN START DAYTRADING!! While this book explains what daytrading is and some basic points about the trade, it does not, REPEAT...DOES NOT explain what will be displayed on Level 2 screen and how to interpret market maker moves..THIS IS CRITICAL or you will lose a lot of money fast.. I read Nassar's book and Friedfertag's first book first and the market maker movement is explained pretty well in both of them. None of this is detailed in this book. The information is good but not nearly sufficient to start trading....thus the book is priced about twice what it should be.

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.

This book seems to be outline for a course rather that an informative book. I found the structure and depth of the information presented to be weak. I would suggest Tony Oz's "Stock Trading Wizard" as a more thorough treatment of NASDAQ Level II.

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.

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...

I have no real problem with the fact that this book reads as if it were writted by a high school student who failed grammer and english. And was printed in my garage. I found the Underground Level 2 book very helpful and worth the very high price and it had many of these same problems. However this book does not redeem itself with useful info. I do not think that anyone but thos with very little knowledge of day trading and level 2 would get much out of this book and even those who would there are better choices out there

The book has a few gramatical errors but I really found it to go hand in hand with the training course they provided. I recommed this book for the individual who is getting started in day trading and I also encourage to look into some kind of training program to keep you from losing big.

The information in this book is fairly current, possibly due to its December 1998 copyright, however I found its content to be poorly written and lacking in detail. The book is full of poor grammar, misspellings and wrong words. In many cases it seems that no one bothered to proofread the text. The book covers many topics, though very few were explained in enough detail to be meaningful. As a professional futures and options trader for the past seven years, I think that this book shows good potential, however in its current form I would not recommend it.

I don't care if the author knows how to spell... can it teach me how to trade. The answer is a resounding YES! As a professional day trader and day trading speaker (my guess is that most of the people who write reviews are beginners), I can affirm that the information is right on.