How to Get Started in Electronic Day Trading [Hardcover]

Thanks to the ever-increasing real-time access that the public has to financial markets, it's now possible to play in the same league as the market makers who drive the daily price fluctuations of a stock. It's also possible--in fact it's certain--that you'll lose everything to these seasoned professionals unless you have some idea of what you're doing. Which is where David Nassar's How to Get Started in Electronic Day Trading comes in.

Unlike most books of this genre, How to Get Started in Electronic Day Trading really is a primer. Nassar, who runs his own trading firm, does not presume you have much knowledge about how markets work. Instead, the author provides an excellent overview of the dynamics that drive stock prices and the various kinds of electronic access, as well as the broad strategies employed by successful day traders. In addition to providing information about how to open an E-DAT account, Nassar stresses the importance of developing a focused trading strategy and recommends working with a simulator before risking your hard- earned cash.

Day trading is definitely not for everyone, and this book alone will not make you a successful day trader. But if you're the slightest bit interested, How to Get Started in Electronic Day Trading will satisfy your curiosity and may even help you launch a second career.--Harry C. Edwards, Amazon.com

"One of the clearest and most complete day trading primers." Forbes 19990929

Everything you need to know to play Wall Street's hottest game! Electronic day trading is taking the investment world by storm. While tens of thousands of trades are already glued to their computer screens, hundreds of thousands are eager to get into the game. "How to Get Started in Electronic Day Trading" covers everything needed to get started in this exciting, fast-paced new area of stock trading. This book is an overall introduction to electronic trading. It discusses the differences among SOES, Island, SuperDOT, and other electronic trading systems, the computer equipment (hardware and software), basic trading strategies and Psychology and money management for the electronic trader.

The days of costly broker delays and lousy fills are over! How to Get Started in Electronic Day Trading shows you how using your own personal computer and the Internet you can trade directly with exchange specialists and NASDAQ makers, take substantial profits from fast-moving markets and keep those profits for yourself!

Here are the inside rules and strategies of Electronic Direct Access Trading (E-DAT), the equalizing system that lets you consistently buy and sell at the best prices the market has to offer. Learn up-to-the-minute techniques to: open an Electronic Direct Access trading account, and gain direct access to NYSE's SuperDot, NASDAQ's SOES and SelectNet, and the ECNs; take profits from easy-to-spot market inconsistencies; understand the new screen-based systems that are changing the securities industry. Spawned by new regulations, electronic breakthroughs, and increasingly savvy traders, E-DAT has become the fastest-growing way to trade. Get in the action-immediately with How to Get Started in Electronic Day Trading. The gates of Wall Street, until recently locked tight to the average investor, have been thrown wide open! Electronic Direct Access Trading (E-DAT) puts all traders from multi-billion dollar professionals to individuals at their PCs on level footing.

How to Get Started in Electronic Day Trading takes you to the bleeding edge of today's electronic trading technology. This powerhouse book tells you how to blend NSE and NASDAQ with the Internet and your own computer to stand shoulder-to-shoulder with traders worldwide. Regardless of the prevailing market sentiment Bull, Bear, or Sideways its techniques and strategies will help you take advantage of the profit opportunities that occur every trading day.

Pioneering E-DAT trader and trainer David S. Nassar puts you in the cockpit of the most advanced trading platforms in the world:

quickly learn the rules and regulations of today's E-DAT marketplace;

use stock trading simulators to hone your E-DAT marketplace;

use stock trading simulators to hone your E-DAT skills before putting your own money on the line;

trade directly with NASDAQ market makers;

pocket substantial trading profits while limiting risk;

use basic technical analysis to spot momentum and profit opportunities; dump unwanted shares instantaneously;
fill your orders at the price you want in as little as one second!

In addition, numerous examples of E-DAT strategies in action provide a firsthand feel for the realities of electronic trading. You discover how to trade the long and short side of the market; how to take profits of as
little as 1/8 of a point as your protect yourself against downside risk; make money even when you're right only 30 to 40% of the time; use NASDAQ's Level 2 screen to buy on the bid and sell on the ask, making money on the spread like the market makers have done for years; and many other proven tips and strategies.

If you have a passion for the market-and a passion for fast trading profits while limiting risk-E-DAT is the answer. From hardware and software recommendations through sample trading plans and strategies, including pointers on how to identify the trading style, system, and broker that best fit your needs, How to Get Started in Electronic Day Trading launches you into the screen-based markets that will dominate the 21st century.

David S. Nassar is president and CEO of Market Wise Trading, Inc., which specializes in providing Electronic Direct Access Trading for investors and traders on-line, via the Internet, and through the firm's branch office system. His Market Wise Stock Trading School teaches students from around the world how to trade electronically, on the NYSE and NASDAQ, using state-of-the-art technologies and strategies. A popular speaker and broadcast commentator, Nassar is also a registered financial planner with more than a decade of securities and trading experience.