Day Trade Online

by Christopher A. Farrell (Farrell Asset Management, LLC and Farrell Preferred Stock Arbitrage Fund, LP, New York, New York)

• ISBN13: 9780471331209
• ISBN10: 0471331201
• Format: Hardcover
• Copyright: 1999-04-01
• Publisher: Wiley

Summary

YOUR TICKET TO ONE OF TODAY' S HOTTEST FORMS OF TRADING Day Trade Online " If you' ve been thinking about joining the estimated 5 million online traders, then this book is for you." - Amazon.com " . . . successful at creating a realistic picture of the life of an online trader." - Business Week In 1999, Day Trade Online became a worldwide phenomenon- and reached The Wall Street Journal, Business Week, USA Today, and the New York Times " Business" bestseller lists. Now, this new paperback edition revisits the hardcover edition' s cutting-edge trading strategies and techniques. Let ChristopherFarrell show you how to beat Wall Street at its own game, and make money in today' s volatile markets. Visit www.farrelltrading.com for more information or to contact Christopher A. Farrell with questions. Visit our Web site at www.wileyfinance.com

Author Biography

CHRISTOPHER A. FARRELL heads Farrell Asset Management, LLC and is founder of the Farrell Preferred Stock Arbitrage Fund, LP, a hedge fund. Since starting his own firm in 1997, Chris has traded over 15,000,000 shares of stock over the Internet, producing a 65% annual return for his investment fund in its first year. Before going out on his own, Chris was a trader on the preferred stock desk at Gruntal & Company LLC on Wall Street, and began his career as a bond trader at Olde Financial in Detroit. Chris lives in New York City.

Table of Contents

Preface	ix
Acknowledgments	xiii
Introduction-Swimming with the Sharks	1	(6)
Section I The World of the Day Trader	7	(18)
The Baptism by Fire: Preparing the Uninitiated for Their First Trade	9	(4)
The Golden Age of Internet Day Trading	13	(12)
Section II Introduction to Day Trading	25	(34)
Trading 101: The Mind-Set of an Online Day Trader	27	(11)
The Day Trader's Arsenal: Choosing and Using Online Brokers, Real-Time Quote Systems, and the Home Office	38	(11)
Considerations for Quitting Your Job and Trading for a Living	49	(10)
Section III How to Beat Wall Street at Its Own Game	59	(66)
Price Takers versus Price Makers	61	(13)
The Day Trader's Crystal Ball: Understanding the Bid-Ask Spread	74	(22)
The Role of the Specialist on the New York Stock Exchange	96	(29)
Section IV Trading for Teenies: Taking Food out of the Specialist's Mouth	125	(50)
The Day Trader's Secret Weapon: Exploiting the Bid-Ask Spread	127	(21)
Prospecting for Gold in the Land of 1/16S	148	(27)
Section V Trading the Momentum-Dow Stocks, NASDAQ, and Event-Driven Trading	175	(58)
The Momentum Game	177	(12)
Riding the Market's Momentum	189	(31)
A Day Trader's Ticket to the Poorhouse: How I Managed to Lose $12,000 in Less than 24 Hours	220	(13)
Index	233