Strategies for the Online Day Trader (Hardcover)

by Fernando Gonzalez (Author), William Rhee (Author)

Editorial Reviews

Product Description
Electronic day trading is one of today's fastest growing, most exciting, and highest paying professions. Traders can--and do!--make thousands of dollars at the punch of a key. But if you think electronic trading is a game, you won't survive. Serious traders will show you the way out of the arena--after first, of course, none-too-gently helping themselves to your bankroll. Still ready to take these guys on? STRATEGIES FOR THE ONLINE DAY TRADER is written for the current trader who is serious about raising his level of expertise and becoming a successful electronic day trader. This realistic look at the world of electronic day trading familiarizes you with the psychology and philosophy behind day trading--along with the obstacles and pitfalls that can plague unwary gunslingers. Use STRATEGIES FOR THE ONLINE DAY TRADER to help you sidestep potentially disastrous errors as it points out which trades will tip the scales in your favor. This commonsense book shows you how to outsmart other traders, and see past their feints and dodges to discern their true intentions with unerring accuracy. Its NASDAQ Level 2 and NYSE SuperDOT trading strategies let you follow the inside market--plus what is beneath the inside market!--with trading lessons including: Risk management strategies that increase your leverage while reducing your exposure; The most effective trading strategies--and when, how, and why you can profit from each; A crash course in the basic theories of technical analysis; Analysis of the different behaviors of rising versus declining stocks; Understanding support and resistance levels, including breakouts and breakdowns, overshooting and undershooting; Factors involved in swing trading; High velocity, high probability scalping techniques. Specific risk-reducing strategies.…detailed, step-by-step analysis of trades both good and bad.…Charts and examples of scalp, swing, and core trades…. Everything you need to become a full-time professional day trader is in STRATEGIES FOR THE ONLINE DAY TRADER. Read it and you will truly understand the natural dynamics of price direction, the psychological traits required of successful online traders, and the innate instincts necessary to grab split-second trading profits at the leading edge of electronic day trading--the new century's most important trading phenomenon.

From the Back Cover
Advanced strategies to master online trading--and write your own paycheck every day! Strategies for the Online Day Trader is packed with advanced techniques and strategies to help you become a high-energy professional electronic day trader. This step-by-step, nuts and bolts guidebook takes you beyond the basics to detail in-depth, proven techniques that experts use to study the market, determine in which direction it is headed--and lock in profitable trades every step of the way! In this action-oriented book, online trading veterans Fernando Gonzalez and William Rhee provide: blow-by-blow trading accounts that give you the anatomy of a profitable trade--and cut years off your learning curve! risk management techniques to stop losses short while letting profits run; tips and tactics for expertly negotiating the NASDAQ Level 2 screen; insights and shortcuts for SOES, SuperDOT, ECNs, and other electronic trading systems; expert insights of scalping, going short, following the trend, and other strategies of the professional trader.

Product Details

• Hardcover: 209 pages
• Publisher: Mcgraw-Hill (June 28, 1999)
• Language: English
• ISBN-10: 0071351531
• ISBN-13: 978-0071351539
• Product Dimensions: 9.8 x 7.8 x 1 inches
• Shipping Weight: 1.4 pounds
• Average Customer Review: 3.5 out of 5 stars See all reviews (35 customer reviews)
• Amazon.com Sales Rank: #858,033 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

28 of 31 people found the following review helpful:

1.0 out of 5 stars Another sales pitch type of book, August 17, 2000

By	James Buckman (New York, NY) - See all my reviews

There has been a rash of sales pitches for expensive chat rooms and seminars disguised as books (see Velez' poorly written "Master Day Trader" book for another example) and This is another one.

The book has a nice cover, great graphics. "Don't judge a book by its cover" fits perfectly. There was nothing advanced in this book, a lot of simple "how to look at a trend" type of information. Nothing on market maker plays or time & sales strategies.

Another disappointing sales brochure disguised as a book by OTA. It's almost as bad as their level 2 spiral bound notebook (not quite as bad, at least this one doesn't have all the typos). Let's encourage book writers to Not promote their websites' highly overpriced services via their books... anyone with me on that?

Look at books by T. Turner and J. Cooper instead... also check out Friedfertig/Nassar for good introductory books.

28 of 32 people found the following review helpful:

1.0 out of 5 stars Poorly written rehash of the basics, December 29, 1999

By	"daytradinguniversity" (Hawaii) - See all my reviews

This book is very basic, hastily written and offers absolutely no advanced trading tips whatsoever. Read Tony Oz' "Stock Trading Wizards" for a solid advanced day trading book. Our traders at Daytrading University, trainingaloha.com, benefit from good books, but I do not recommend this title as it offers nothing that could benefit anyone but the greenest of traders. 'Daytrading Into the Millenium' by Turner is also good, as are the Schwager's 'Market Wizards' books. If you buy this, you'll return it like I did. Flipped through it in 30 minutes and said 'so what's new?'. Can't blame these guys for trying to cash in on the daytrading phenomenon, I just wish they'd produce a meaningful or insightful book. This one's a dud.

24 of 28 people found the following review helpful:

1.0 out of 5 stars This book is better than Pure Gold!, January 12, 2000

By	Day Trader - See all my reviews

For the authors that is. There is nothing in this book that you will not find in the book Electronic Day Trading Made Easy by Misha Sarkovich, which is about half the price of this book. Misha's book covers all that is in this book and a lot more. Do not buy this book.