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Day Trade Online
ISBN: 0471331201     Date Published: 1999-03-31     Author(s): Christopher A. Farrell
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Hardcover
Wiley
256 Pages
 
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06/20/2013 01:27:50
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Editorial Review - Book Description:
Day trading such stocks as Amazon.com, eBay, and Yahoo! sounds like a game for the gun slinger: jump into the fray and pull the trigger. Is that really the case? No, according to author Christopher Farrell, who earns his money just as Wall Street does--by making very small, short-term, high-percentage trades. Farrell, who works from home, has traded over 15,000,000 shares of stock via the Internet, producing a 65 percent annual return for his investment fund in its first year. Using detailed, user-friendly examples, Farrell shows how to place orders online and then sell minutes later for small profits that can potentially add up to thousands of dollars a day--if you pick the right stocks. He explains how the New York Stock Exchange allows traders to buy on the bid and sell at the offer, just like the professionals. Farrell also includes loads of tips, such as how to choose an online broker, how much to pay for commissions, and how to cope with a technology that`s still in its infancy. If you`ve been thinking about joining the estimated 5 million online traders, then this book is for you. --Thom Hartle

The explosive growth and low cost of online trading has created a new class of investor who can now make a living buying and selling stocks over the Internet in a way that was once reserved for Wall Street`s most powerful brokerage firms and investment banks. While technology has made entering the `major leagues` easy, staying in is not. Before taking to the fast-paced, high-risk playing field, it`s absolutely essential that you have a firm grasp of the rules and a solid game plan. Day Trade Online is the play book novice competitors need to become strong contenders. Written by seasoned practitioner Christopher Farrell, it is a one-stop, step-by-step overview of how to make a successful living, whether full- or part-time, trading via the Internet.
Day trading can be quite lucrative, but only if you know what you are doing. As Farrell points out: `Trading for a living is hard. Trading for a living over the Internet is even harder. There are many challenges and obstacles that confront you. Venturing into this jungle unprepared is a recipe for disaster.` This straightforward guide provides the head start and heads up necessary to thrive as an Internet day trader, covering everything from the dangers and pitfalls of trading online to an in-depth analysis of which trading techniques work and which don`t.
Day Trade Online presents inside information on the strategies of top trading firms, including the most secretive, misunderstood, and profitable function on Wall Street: exploiting the bid-ask spread. Along with complete details on this rarely revealed methodology, you`ll learn about: The tools needed to get started in online trading. Trading on the NYSE and NASDAQ. Which stocks to trade - and which to avoid. Beating the specialists and the market makers at their own game. The dangers and pitfalls of online brokers.
Most importantly, you will learn to look at ten different stocks and pinpoint which one to trade, when, at what price, and why. With the right know-how, you will then be able to apply this knowledge to every single stock that you screen.
Written for the day trader, by a day trader, this is indispensable reading for anyone looking to join an increasingly popular - and profitable - arena.
`I see the ads on television. Open an account and your first trade is free. Trade as many shares as you`d like for one flat fee. Free real-time quotes. Free market research. Trade stocks. Trade options. With the click of a mouse. It`s that easy. Anyone can do it . . . I think back on my time on Wall Street. Does the little guy really have a chance?` - from Day Trade Online.
Yes. You do have a chance - a tremendous opportunity to day trade online. But only if you are prepared. Only if you know what you are getting into. In Day Trade Online, a successful online day trader walks you through the ins and outs of day trading online, and provides you with everything you need to get started and be successful. This step-by-step guide will show you: How to choose and use online brokers. How to set up an online account. What equipment you will need and what it will cost. How much capital you need. What stocks to trade, when to trade them, when to stay out of the game. How to trade on margin - safely and profitably. The day trader`s secret weapon - a strategy for your trades.
Be prepared. Get Day Trade Online for the tools, tips, and strategies you need to thrive as an Internet day trader. Don`t make your first trade without it!
 
Customer Review:
Total Reviews: (179)
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32 of 33 People found the following review helpful.

excellent book - apply strategy to higher volume stocks, October 19, 1999 By A Customer This review is from: Day Trade Online (Hardcover) I've read Farrell's books several times and have been trading the way the book says for a few months - I made over $7,000 last month - I've refined the strategy to fit my risk profile - avoid illiquid stocks and stick with NYSE listed, more active low priced stocks instead- even ones that trade 1,000,000 shares a day are great, so long as they are below $10 per share - I really think it is the best daytrading book written because it caters to the online trader, not the high end daytrader- apply the teenies strategy to low priced stocks that have bottomed and you have a very good chance of making money - I have - and, avoid the dogs - for instance, a $5 stock that may have come down from $20 over a few days but has stopped falling and is picking up on high volume - stocks like that are done falling -the strategy works even better by lifting offers and then offer a 1/16th point higher on a limit - it is like initiating momentum - the genius of the this book is that the...
 
25 of 25 People found the following review helpful.

can be profitable if you screen, sreen, screen, September 23, 1999 Byjjbirdbeer@aol.com my nameis JJ (skokie, illinois) - See all my reviews This review is from: Day Trade Online (Hardcover) I have been trading for many years and have won several stock-market awards....This system will work if you follow Farrell's Rules that he pounded in our heads but he also mentioned some crucial rules only once...so if you skipped lots of pages because of the repetitive thoughts and ideas, you better read it again. He lists hundreds of stocks in the book but only a select few during select times of the day can with no doubt turn a profit. A lot of concerns with partialfills....just choose stocks trading over 150,000 shares (I promise they are there)...no problem getting in and out of a position such as this if and only if the spread looks something similar to this: 8 to 8.1875 bid size----5500 * 5000----asksize. This is just one of tons of similar opportunities but my point is that both the bid and ask ordersizes must be low....If you sit at that computer and keep checking your list of 10 you will find these opportunities and will make money--it may be a lot of...
 
34 of 36 People found the following review helpful.

Pretty good but repetitive, narrow focus, September 10, 1999 By A Customer This review is from: Day Trade Online (Hardcover) I skimmed through this book recently at a Borders Bookstore to see if it was worth buying through Amazon, since I now buy most of my books through Amazon. (Does that make me evil or what?) My thoughts are:1) Great education on the specialist and market maker system. 2) Book is too repetitive. Good, but repetitive. 3) His trick for trading in the spread and taking some of the specialist's profits works, *if* you find the right stock and trade in high enough volumes, with low-enough commissions. 4) I started testing his method in an AMEX stock, but since I could only afford buy 300 to 500 shares at a time and pay $19.95 per trade, I had to make at least 1/8 on each round trip to profit. Waiting for the 1/8 movement takes a lot longer than waiting for a 1/16th, as Farrell recommends. 4) I've made 2 successful round trips so far and anticipate a 3rd soon, but my profits are tiny tiny tiny (like from $7 to $22 per round trip, after commission). 5) When I have more capital...
 
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