Stock-market

I read Farrell's first book, which was downright awful, so I was a bit skeptical when I bought his latest work. This one is much better than the first. However, it might be better titled, 'NYSE Day Trader's Survival Guide' Farrell specializes in NYSE stocks.

Despite what the author might have you believe, it is difficult to trade NYSE stocks. The specialists simply are thinking one step ahead of you. As an actual trader, I often found it impossible to scalp 1/16 as Farrell mentions in his books. You are going to lose money if you try this strategy. Also, trading large quantities of low-priced stocks is an almost sure way to blow out your account sooner or later. The author doesn't warn the reader.

Be aware that the NYSE is soon going to replace specialist trades of 1,000 shares or less with a system closer to that of trading NASDAQ stocks. The activation date is getting close, as this topic was in the news just a few days ago. You won't find this covered in the book.

'The Day Trader's Survival Guide' is a well polished effort. If you decide to buy it, then by all means Be sure to read Farrell's first book, 'Day Trade Online' so that you get a better depth of what Farrell and trading NYSE stocks are actually about.

You may not make money using this book, but at least you won't unnecessarily lose it either. Chis Farrell brings to light some of the basic methods by which Wall Street separates the investor from his cash and why the real winners in the stock market are the large cap brokerage firms. A must read for anyone who is even thinking about dabbling in day trading using a dial-up brokerage.

There are many daytrading books out these days. I've read quite a few of them, each having a different slant on how to attain success at trading the stock markets successfully. Most involve trading Nasdaq stocks exclusively, while focusing on market maker activity, support and resistance, chart setups or patterns, etc.

Christopher A. Farrell's book stands out as a different and brutally honest look at both the Nasdaq and the NYSE, how they work, and the pitfalls they hold for traders. Numerous quotes by market notables supporting the author's contentions are interspersed throughout the book.

One of the book's major themes is technical and fundamental analysis are useless to the daytrader who is contemplating a trade where a large market maker could be manipulating the stock's price. I couldn't agree more. However, I believe the author goes too far in discounting the usefulness of these valuable tools, as he sounds as if he believes that charts and fundamental information would never enter in as valid trading criteria in any other styles of trading. Nevertheless, I found his insights about market makers to be invaluable.

Ways in which a trader can gain somewhat of an edge over the Nasdaq market makers are spelled out, such as how to use "hidden orders." Also, "Spoofing" was a very interesting tactic exposed by the author: the advertising of huge size to buy or sell on Level II with no desire to be filled, but to manipulate the stock higher or lower. The author is very experienced at trading.

Insights into the NYSE specialist's role are covered in great detail, as well as a number of NYSE daytrading tactics. The author puts us in the specialist's shoes, giving various scenarios of market conditions and what a specialist does in his own interest and in the interest of the public. A more informative piece I have not read.

The author concludes by speculating on a trading world of totally fair markets, or "The 24-hour Unified Exchange, the Virtual Specialist, and the Extinction of Wall Street." A nice sentiment, but a lot of big money and influence stands in the way. All told, this book is an excellent read for any trader.

I very rarely review a book. However, in this case, I felt I should offer a forewarning to those who may consider purchasing this book. If you are like me, after receiving it, you will wonder why it cost as much as it does! There is nothing in this book that can not be obtained online and elsewhere in very little time. The bulk of the book is a listing of the companies included in various indexes (e.g., S&P 100) and companies sorted by industry sector. There's nothing wrong with the book; I just don't understand how the content supports the price. Personally, I would be embarrassed to sell this book at this price.

Mr. Carroll has put together an extremely helpful stock trading reference resource geared toward the day trader, yet useful to even casual investors. The guide is compact, easy to carry around and organized by industry which allows the user to obtain information quickly and easily. If you are a frequent trader or simply "in the market", this is an invaluable resource.

I lost money using these strategies. Buy Steve Nison book if you want a good book on TA. This one just doesn't measure up.

There is much useful material, along with a thoughtful approach to creating a daytrading discipline, in this book. I don't fully agree with (and wouldn't expect to) all of Lewis' statements, and, as you might expect, given the changes in the trading environment over the last couple of years, many of his methods and observations are arguably already out of date, but others still apply, and his overall philosophy, perspective, and attitude are probably more important, in my opinion, than the particulars of his personal approach as practiced in and around late 2000. The text includes numerous clear, concrete, and detailed examples, though you may have to look past an L2 screen with a stack of QCOM buyers at 343 13/16 (I just never get over mania-market prices) to receive the message.

SOMEONE SUCCESSFUL WITH THE SAME INTEREST AS OURS REVEALS TO US HIS SYSTEM. CLEAR, THRUTFUL AND CONCISE. THIS BOOK WAS THE ULTIMATE REVELATION FOR ME. GOT ALL MY IDEAS CLEAR ON MY OWN APPROACH AND PERMIT ME, COMBINED WITH DIFFERENT MOMENTUM CONCEPTION TO GAIN MASTERY IN TRADING. MY DREAM HAS BECOME REALITY AFTER 10 MONTHS.
THANK YOU A LOT Mr. LEWIS for your GENEROSITY AND plain english FOR TREATING SUCH COMPLEX MATTERS.

(OTHER PARALLEL READINGS TO GET TO THE ULTIMATE RESULT:
STAN WEINSTEIN/ WILLIAM O'NEIL (TRADING PHILOSOPHY!!
ALAN FARLEY (ORIGINAL SWING TRADING CONCEPTION
JOSH LUKEMAN (MARKET MAKERS MENTALITY
& ARI KIEV (PSYCHOLOGY ASPECTS FOR TRADING

I guess I'm spoiled by Martin Schwartz's excellent book Pit Bull. I was expecting a trader's autobiography something along the same line with The Day Trader, but what I got was the first 130 pages of Borsellino talking about what a tough guy he is and about his mafioso father. After that he dips into a high-level discussion of the changes to the commodities and NASDAQ exchanges over the years. There is virtually no mention of trading technique or psychology, outside of the constant tough guy braggadocio, which is pretty sad to hear from a 40-year-old guy. And definitely don't buy it if you're looking for trading advice or techniques. There is none to be found. If you want a nice biographical read about a trader, read Pit Bull or Reminiscences of a Stock Operator instead. Borsellino simply doesn't write well enough to keep this one interesting. The story wanders around too much and is too repetitious.

When I first picked up the book, I thought it was a promotional piece for a trader turned fund manager. I was wrong. I realized this was from a real trader, not an expert. Having lost much money from following technical experts' advice, I've learned only to read the masters. Those who want a technical book, don't look here. But know that if you want to win and win big, you may want to read this. I also learned that you don't have to nit-pik every psychological thought to arrive at masterful trading, as the psychologists of trading would have you believe.

I was totally hooked into the story of his life's joys and sorrows. I couldn't put it down--I read it in one sitting. Some books have interviewed the best traders with similar conclusions from their experiences, but rarely do they provide the insight into their minds. Traders lives parallel. The book captured many of my own experiences. This was a heroic story describing overcoming in one of the world's most difficult occupations.

I used to wonder what made a Jesse Livermore tick? What in his trading career made him commit suicide? (I assure you, it was not a trading rule he broke.) This is a rare book because it's an authentic, open-hearted, unabashed, no-holds-back account into the soul of one of the best pit traders in all time and his trial by fire, of a reality more dramatic than any fiction story.

The Dalai Lama says that we have traveled so far into the stars, to other planets, to the moon, but we have not looked inwardly. We have not traveled into our hearts, into the domain of mind. When one considers the intense nature of trading emotions including pain and suffering, illusion and confusion, greed and fear, ego and humility, shame and anger, this journey, whether you travel or not, is the journey of all traders, captured par excellence in this book. It's a story about an Italian American turning prejuidice into riches, about a soul turning defeat into victory. If you're new to the game, this is what it takes.

The book is not a tech how to book but in all fairness the auther doesn't claim it as one. This book is more of an autobiography and in that category it is a 5. The auther brags about himself at times but anyone who is that successful has a right too. Excellent read well worth the time!

In the waning months of the year 1929, the New York Stock Exchange was going strong. Millions of small and large investors poured their life savings into the pool of speculative issues, hoping for a big return on their gamble. On Black Tuesday, October 29th, the dream came to a crashing halt. This is the heart wrenching tale of that fateful day: the giddy years that preceded it, and the miserable decade that followed in it's wake. Sterling drama, with many poignant stories of the principal movers and shakers of Wall Street...before the Bubble burst.