Customer Reviews

Secrets of the Soes Bandit: Harvey Houtkin Reveals His Battle-Tested Electronic Trading Techniques

5 star:		(30)
4 star:		(1)
3 star:		(9)
2 star:		(4)
1 star:		(31)

 

 

If your interested in a history lesson this book is for you. Harvey Houtkin does a good job telling the of the origins of modern day trading and promoting his ego. If your interested in learning how to trade to make money pass this one it's not for you. The title is very deceiving. He doesn't really teach much other than history. He should have been honest with people and not implied that people would learn anything about trading.

Nobody cares about the person. This book is about business, not about what great things Mrs. Houtkin has done for the SOES business. Thus, when it comes to "SECRETS" none are revealed. This book is horrible and I am tired of seeing "shills" come in here and try to boost the already inflated rating on this piece of garbage book. DO NOT BE DECEIVED PEOPLE! There are much better books on this subject matter...This is just an expensive coaster or floor mat. Don't buy it!

i have been trading on the SOES for roughly 5 years. this guy should be in jail, first of all, and anyone in the industry knows it. second of all, who writes a book if he's making so much money? a wall street altruist? the info in this book is laughable and outdated. buy 5000 at the market when a market maker isn't looking and post 1/2 point higher? if you talk to the original, ORIGINAL daytek guys from the staten island basement, yeah, that happened, but save your 14 bucks and rent a couple "Wall Street" and "Duece Bigalow." how many ways can i spell "garbage"?

If you are a novice trader looking for trading strategies, systems or any other educational information this is the last book you should consider to buy, this book only tells the history of Direct Access Electronic Trader (DAET) and what Houtkin did for the DAET revolution to succeed. Bottom Line: this book won't make you any better trader. I have read about 15 day trading books and this is the first I should not bought it cause is really a waste of time.

I didn't know there *were* any readers in Alabama. The reviewer below is a moron who is obviously a paid shill for Houtkin; I'm surprised he/she can write.

The whole idea that housewifes and truck drivers can compete with market makers at firms such as Goldman Sachs et al should set alarms off in any serious trader. (This is somewhat akin to thinking that housewives and truck drivers can compete with brain surgeons at John Hopkins.) Houtkin's book and some of the accompanying reviews of his book on this site would like to perpetuate this myth. There is no doubt that Houtkin is one of the great marketer/promoters of this era and in keeping with his carnival/casino mentality he would lead you to believe one can make money day trading. Sure, it's "possible", but so is winning at Atlantic City. Conveniently, he sets up the market makers and Wall Street in general as the bad guys and then aligns himself with you the reader as the good guys. Wall Street definitely has its own interest at heart, but while reading this admittedly likeable nonsense, it easy to forget that Houtkin also has his interest in the forefront. The real problem for a day trader is that not only does he or she have to overcome the spread presented by the bid/ask (opponent #1), there is the considerable task of absorbing the commissions charged by Houtkin and the like (opponent #2) which in the long run are also murderous to one's bankroll. A review of Gary Smith's column in theStreet.com last week in which he calls attention to the Wall Street Journal article regarding Massachusett officials' investigating the Boston office of defunct Block Trading in which 68 out of 69 traders lost money (the one winner was an employee juggling profits into a special account) really should be kept in mind when reading dream merchants such as Houtkin. As a postscript and in fairness to Houtkin, there really was a time when soes traders could consistently beat the market and overcome the commissions associated with their efforts (primarily in the early 90's), but those days are long gone as the markets adjusted.

This book is primarily a history lesson on the SOES struggles of Mr. Houtkin, and is interesting in that regard if one is interested in such things. As for a 'how to' training manual full of 'secrets', as the book cover implies, I'm afraid this book falls far short of that. I you really want 'secrets' so to say (there are no secrets) I'd recommend the title Electronic Day Traders Secrets, which is a candid interview style book of 13 day traders. You'll learn what has and has not worked for these individuals, as well as the path they have taken.

And don't bother reading this book either even if you can borrow it; you will waste your time. The book is nothing more than a promotional brochure for his expensive course. There are no secrets to be revealed.

I chuckle when I read critical reviews of this book. I have worked alongside Mr. Houtkin for a long period of time and have seen him turn many very unfullfilled people into content successful traders and improve their quality of life immensely. Other books have been written by wannabe traders or academics but there is nothing like the real thing. Most of the critical comments apparently come from losers who are trying to transfer their failure or at least rationalize it by blaming the daytrading concept. The hundreds of successful traders at the many All-Tech offices around the country and the numerous traders operating out of their own homes and offices is living proof that the theories and techniques expoused by Mr. Houtkin are right on the money. Don't be disuaded by envious losers who were cheap and took shortcuts or listened to fast talking promoters. Houtkin is the real deal and so is his book. If you hope to succeed in trading...there is no alternative.

I'm glad I checked this book out from the public library and not purchased it. Purchasing it would have been a terrible trade/investment. The only expense I incurred was the waste of time trying to read it. It is just plain boring. Shame on you McGraw-Hill for publishing it.