Customer Reviews

Electronic Trading Masters: Secrets from the Pros! (Wiley Online Trading for a Living)

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

 

 

The interviews in this book were interesting if you enjoy reading trading books. Even one or two usable nuggets of information for traders. However, if you are looking for a "how to book" you should look elsewhere.

If you are a casual amateur investor who enjoys reading trading books of the interview type, this is okay. If you aspire to be a pro and are actually a pro, you wont be satisfied with the depth and width of it. The trading styles of the interviewees, and so are the Q&As, are just so diverse that one can hardly grasp something "profitable" to his/her own trading. Of course, most of them do mention "no loss averaging, keep losses small, have discipline" blah blah blah, but do most of the trading books talk about the same stuff?

This book is a refreshing change from other books written by "Market Gurus". Author & Trader Allen Baird interviews top day traders and the traders themselves tell why they are successful , what they look for when they make a trade ,their background and trading styles. Interview with Matt Anderson-President of the Island ECN was quite interesting.

Okay, most folks know the now famous books by Schwager. This book is similar - except for the fact that the interviews are with the new breed of traders, M. Rogan LaBier, etc... A very interesting, fun read. The real question is: will these guys, going forward 20 years, still be traders? In Schwager's early book, many of the traders interviewed are today, in retrospect, the leaders of a generation. Has Baird picked the right guys? Only time will tell. It is a fun read, full of anecdotal stuff. But if you are looking for the traders to bare their souls and tell you exactlty what it is that they do to win, you'll have to look further. I say further and not elsewhere, because I've never seen the forum where they tell you just what they do. But if you want insight into the mindset of effective traders, this is it. Each chapter is an in-depth interview with a highly successful trader. But only time will tell if the Rogan LaBier s of this world continue to outperform the rest of us... Or whether they were just product of the Big Bubble - and will fade into obscurity - or blow up in some spectacular way.

This is by far the most insightful book of its kind that I'v read. This is not just another beginner's guide, but one that contains valuable trading ideas that I can use to make money and trade more effectively. The interviews offer an excellent balance of advice on trading techniques, money management, and trading discipline.

I really liked these interviews, great questions and interesting answers. I especially liked the ones with Joe DeDonna, Mike Reise and the guy who runs Island. I'd recc. this book to those who want to hear how "real" traders go about their craft.

My background and experience are in the futures markets, but,like many traders enchanted by the recent extreme vacillations in the stock markets and by the new day trading phenomenon, I wanted to acquire some knowledge of electronic and stock trading. I have read numerous other introductory books on this topic, none of which I will relate here because they are largely inanely simplistic, but, suffice it to say that one need only purchase this book to obtain the requisite education on electronic trading. Dr. Baird is knowledgable, insightful, open and, most importantly, keenly aware of his subject and the subjects he interviews- all of whom offer diverse and interesting insights into the world of electronic trading. While this book will not teach you how to trade exactly- any trader must learn through experience what methods will fit them- it will provide a valuable and eclectic overview of electronic trading and some of the perils and opportunities that await one there. I cannot recommend this book highly enough for any trader looking for an intellectual avenue into electronic trading or to enhance and augment their existing understanding of markets.