From the Publisher
"I don't think there's every been a period like this in the history of world capital markets."
—Richard Grasso, Chairman The New York Stock Exchange
The securities markets have been dramatically changed forever. Millions of individual investors have taken control of their investments. The sixth market has arrived.
Moving to a 24/7 digitized market means lightning-fast changes. So the skills required to succeed must be laser sharp. Drawing from their collective 60+ years of trading and investing experience, authors and traders Howard Abell, Robert Koppel, and Ken Johnson peer into the future to show you how to profit from the electronic investor revolution.
There are no secrets to trading in today's markets. To make money consistently, you need only three things:
A statistically valid trading plan
Effective money-management techniques
The discipline to put them both to work
Let The Sixth Market be your guide and learn how to gain control of the electronic investing marketplace—instead of having it control you.
From the Inside Flap
According to some estimates, from 1992 through 1998, 80 percent of people who engaged in day trading lost money. By the end of April 2000, shell-shocked traders quickly learned what margin calls were when they were forced to sell heavily leveraged positions. The run-up in stock prices, particularly in the technology sector, had masked a serious weakness in the entire premise of self-directed, online trading—the fact that most people didn't really know how to trade. According to a survey conducted by SixthMarket.com, fewer than 10 percent of those with online trading accounts had actually ever executed a short sale.
Beginning with the primary market—securities issued when a company goes public—and ending with the sixth market—the electronic trading of securities by the self-directed investor—trading has been forever changed. With the emergence of this self-directed, electronic trading comes an overwhelming need for training. Despite resounding enthusiasm, individuals investing and trading today simply do not have the skills and experience to compete effectively. Yet trading is a skill that can be learned, and the skills are not that difficult to master.
Inside The Sixth Market, you'll discover:
* The origins and ongoing metamorphosis of securities trading. Remember, if you want to know where you're going, you must first know where you've been.
* What the increasing availability of information means to you as an investor.
* How key regulations have changed and what they mean to you.
* How the availability of abundant, inexpensive bandwidth can make you a more competitive investor.
* Which online broker is best for your trading needs.
* How to choose the right technology for your trading needs.
How can you have a "real" job, raise a family, and monitor a frenetic nonstop market to find the right opportunities for trading? Abell, Koppel, and Johnson will take you through the steps necessary to master the skills and discipline needed to be successful. Inside The Sixth Market, you'll learn the steps essential to competing in today's electronic marketplace:
* Building self-awareness
* Learning trading fundamentals
* Understanding charts
* Trading from reliable chart setups
* Mastering your trading plan
* Committing to your education
