How to Get Started in Electronic Day Trading [Paperback]

David Nassar (Author)

Book Description

ISBN-10: 0071380493 | ISBN-13: 978-0071380492 | Publication Date: October 1, 2001 | Edition: 1

The national business bestseller

"Nassar has in mind sophisticated real-time data and computer programs that let ordinary investors see the same stock information pro traders see at the very same moment . . . a great introduction."­­Kiplinger's Personal Finance

"Reveals important tips and tactics for novices. . . . offers surprising and educational insights on how to 'buy and sell' on the same computer networks as brokers like Goldman Sachs."ABCnews.com

"This book takes you to the leading edge of today's electronic trading technology. Regardless of the prevailing market sentiment­­bull, bear, or sideways­­its techniques and strategies will help you take advantage of the profit opportunities that occur every trading day."­­Technical Analysis of Stocks and Commodities

Editorial Reviews

Amazon.com Review

Only a small percentage of those who try day trading achieve success because most are undercapitalized, lack discipline, and have little idea how much knowledge and experience are required. For the determined newcomer, David S. Nassar's How to Get Started in Electronic Day Trading Home Study Course is a comprehensive immersion that includes a well-written workbook, 10 hours' worth of audiocassettes, and a CD-ROM. Nassar, author of the book How to Get Started in Electronic Day Trading, is a trader who heads a brokerage firm offering electronic trading as well as training. He writes, "My task here is to teach you to play with fire without getting burned."

The workbook presents an overview of the markets and introductions to electronic direct-access trading (EDAT), indexes and indicators, and technical analysis. Also included are detailed explanations on how to pick tradable stocks (are you a specialist, scalper, or shepherd?); trade the news (earnings, splits, economic announcements); and profit from going short ("trading the bear inside you"). The chapters on market psychology and money and mind management are particularly astute ("The Emotional Bank Account Is Funded by Attitude"), and all are cross-referenced and reinforced in the corresponding audio tapes. The CD-ROM includes effective audio-visual presentations on the components of an EDAT trading platform, the analytical tools, trading mechanics and execution methods--most illuminating are the trades the author navigates, tick by tick, on NASDAQ level two.

In all, Nassar has done an admirable job of creating a thorough introductory training course, and his enthusiasm and passion for markets and trading are infectious. Those serious about learning to trade successfully will find this an effective--and hopefully profitable--introduction. --Scott Harrison --This text refers to an out of print or unavailable edition of this title.

From the Back Cover

The Best-selling How-To Manual on Direct Access Trading­­Now In Paperback!

How to Get Started in Electronic Day Trading will show you how to cut out the middlemen and use your computer to trade directly with exchange specialists and NASDAQ market makers. From hardware and software recommendations through sample trading plans and strategies, this step-by-step guidebook is famous for helping thousands of independent investors harness state-of-the-art electronic trading programs and technologies­­and grab every opportunity in today's fast-moving markets!

Praise for How to Get Started in Electronic Day Trading:

"Nassar has in mind sophisticated real-time data and computer programs that let ordinary investors see the same stock information pro traders see at the very same moment . . . This book is a great introduction."­­Kiplinger's Personal Finance

"How to Get Started in Electronic Day Trading reveals important tips and tactics for novices [and] offers surprising and educational insights on how to 'buy and sell' on the same computer networks as brokers like Goldman Sachs."­­ABCnews.com

"This book takes you to the leading edge of today's electronic trading technology. Regardless of the prevailing market sentiment­­bull, bear or sideways­­its techniques and strategies will help you take advantage of the profit opportunities that occur every trading day."­­Technical Analysis of Stocks and Commodities

See all Editorial Reviews

Product Details

• Paperback: 243 pages
• Publisher: McGraw-Hill; 1 edition (October 1, 2001)
• Language: English
• ISBN-10: 0071380493
• ISBN-13: 978-0071380492
• Product Dimensions: 8.9 x 6 x 0.8 inches
• Shipping Weight: 14.1 ounces
• Average Customer Review: 3.6 out of 5 stars  See all reviews (12 customer reviews)
• Amazon Best Sellers Rank: #1,434,985 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

12 of 13 people found the following review helpful:

5.0 out of 5 stars What a Great Start!, August 21, 2000

By A Customer

This review is from: The How to Get Started in Electronic Day Trading Home Study Course (Paperback)

This guy is honest, period! He tells it as it is. Nassar never makes claims that day trading is easy or that the course will deliver trading results, but instead teaches the mechanics of day trading. I got more from this course for $300 dollars than two solid years of trading. I only wish I had taken it sooner. I also saw this guy trade at the Ontario Trade show with live capital. He made $1700 right in front of 10 people in less than than 10 min. That was really cool watching a man walk his talk!

Buy this course, it is undervalued and delivers so much.

14 of 16 people found the following review helpful:

3.0 out of 5 stars You can make it using a simpler approach, November 16, 2005

By 

Morning rally - See all my reviews

This review is from: How to Get Started in Electronic Day Trading (Paperback)

I like some of the ideas presented by Mr. Nassar, however i think he needs to update his book and get a little bit more practical.

When you make a trade either your going to lose money or your going to make money, and some other times you will break even. When you win some body else will lose and so forth, but that's NOT what's important.

The most important aspect in day trading is the knowledge FILTER you employ to make your buy & sell decisions. There are many "fantastic" strategies outhere, but you need to test them in order to discover which ones help you the most.

Complicated strategies that rely on a "boat load" of technical indicators can make you slow, and being slow in this game can be as dangerous as not knowing what to do in the first place.

I think the worst thing that can happen to a beginner day trader is to get information overload. It's better to go step by step, and test a simple strategy that can show you how to focus on concrete ways to make money.

Fortunatly there are some good sites on the web today that can show you how to trade stocks in practical and effective ways. One of those sites is Stress Free Traders ( StressFreeTraders com )

In the end, stock investing & trading is all about buying and selling according to your knowledge FILTER. Once you master and follow youre proven filter parameters like a clock, you can expect to start making serious amounts of cash on a consistent basis.

8 of 10 people found the following review helpful:

1.0 out of 5 stars Bad Book by an Excellent Author, March 18, 2006

By 

Andrew P. Kasch "Andrew Kasch Publishing dot com" (California USA) - See all my reviews
(REAL NAME)   

This review is from: The How to Get Started in Electronic Day Trading Home Study Course (Paperback)

Maybe "bad" is a bit harsh. David Nassar is a real and successful trader, and a guy who has years and years of experience training and managing highly successful traders to boot. He writes great articles for Active Trader and Futures magazines, and has written another book that I consider to be five-star outstanding.

But this book is disappointingly basic. It focuses on the mechanics of how trading is done and gives very little, if any, actual trading methodologies. A quick look at the table of contents and you will get the overview. It seemed to me like half the book was discussing how an order is placed!

Perhaps part of the problem is being outdated. Deciding how to route an order these days is a very insignificant factor in daytrading; the days of the SOES bandits are long, long gone. Broker's trading platforms now use smart routing technologies to get the best fill, and as a sharp trader you are using limit orders on stocks that have a 1 cent spread anyway. I suppose this was written back when you could take advantage of price differences between ECNs and Market Makers.

Your time is much better spent reading his other book, Rules of the Trade, where you can actually learn a few things and become inspired.

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