Customer Reviews

The Microtrading Revolution

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

 

 

This book, pamphlet really, should be titled, "A very basic and general introduction to day trading," and as such, it would be fairly priced at $8.95 or $10.95. At $34.95, however, it is nigh-robbery. Do not expect to find anything in the way of tactical or strategic advice that you can use to actually evaluate potential trades. What you will find instead are all the "handle with care" warnings that form the introductions to the other by now well-known books about day trading. The latter, needless to say, offer far better value. I repsect the fellows at Pristine Trader a great deal and it was on their advice, in an amazon review!, that prompted me to get the book. I am at a loss as to what they saw in the book.

I received this book today, but will return it tomorrow.

Avoid this book and move on, priced to high and information in this book can be found in much cheaper books on daytrading.

I have read approximately 24 books on trading in the last four months, spending in excess of one thousand dollars. This, I am sorry to say, is the only one I sent back. It has absolutely very little information on microtrading or any other trading as far as that goes. A much better book would be the Electronic daytrader which gives insights needed for microtrading and much more content in the equipment needed and the sources available to trade successfully.

This is a good book if you want to catch up on some of the trends in trading, but if you have any knowledge at all, leave it alone. The first comment is that the book is about 150 pages, but it is not a full size book and the text is double-spaced.

Of course this is probably one of the reasons why the book lacks details on strategies and how to catch the momentum of a stock--at one point it basically says buy low, sell high. The book also has a section on picking a brokerage but does not give anything more than suggestions on some questions to ask.

The books interesting point is the day in the life of a trader. It follows a couple of different people and gives an example of how their trading styles are different. (Of course they all make money on each of these days--one by buying all of the major tech stocks in the morning and selling 20 minutes later for a profit)

I've read all the books written on SOES trading ie., microtrading/ electronic day trading. I read this before "The Electronic Day trader" and Harvey Houtkins new book (pathetic). The Microtrading Revolution is the most expensive, the shortest, the most vague, but also the most honest. There is not a lot about trading strategies, but you can tell these guys know how to trade. I called the publisher and they said the authors were working on a new book that would establish them as the "gurus of Nasdaq based trading once and for all." We'll see if that's the case, but I look foward to it just the same.

I trained under Lawrence and Todd so I can not claim to be the most objective of reviewers. I ordered the book and was so impressed I flew to Virginia to meet them. I have met with a lot of "SOES" traders and other day traders in an attempt to find a firm where I was comfortable trading. These guys are by far the best traders I've seen. They are not as well known as Harvey Houtkin or Marc Friedfertig but I guarantee they are better traders. I've seen them in action. The tone of the book is honest and does not understate the risks involved with trading. According to the book up to 90 % of daytraders fail. Lawrence and Todd are two guys who have succeeded and have done so in a big way. I applaud their book and the training they provided me.

This is one of the best and most timely books on trading I've read in a long time. In less than 150 pages Black and Hawley provided me with insight into these new execution systems (SOES, Selectnet, Island etc.)and how they really are changing the way people buy and sell stocks. Their writing is honest and at times quite funny. I'm not sure this kind of microtrading is for me but I learned a lot nevertheless. Their list of characteristics of a successful trader was worth the price alone. Great Book!

I have yet to read the other books on this kind of trading. I heard this was the first so I figured it was the best place to start. I am amazed that I don't hear more about microtrading and the direct access kind of trading championed in this book in the press. It is pricey but I think I would recommend it nevertheless. Particularly to people who are just learning about microtrading.