Product Description

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!

Product Details

• Amazon Sales Rank: #279009 in Books
• Published on: 2001-10-12
• Original language: English
• Number of items: 1
• Binding: Paperback
• 208 pages

Amazon.co.uk Review
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 more than 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, Amazon.com

Synopsis
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!

From the Inside Flap
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.

Customer Reviews

Do not buy this book!!!!!!
It has a few good points but generally not worth it. The same points are repeated over and over throughout the book as if it was intended for a three year old!!!! Also the main technique ouitlined is outdated and does not work any more. In short this book should no longer be for sale. I understand the author has written another day trading book that is much better but I have not read it. After reading this one I am reluctant to buy another book by this author!

If only I had the money to start investing
Excellent book well worth the money. It has shown investing to me in a new light. After I spent a bit of time looking around at different stocks I noticed this exact thing happening - 1 stock had maintained a value that had fluctuated only 1pt in almost 12 months. During the day I noticed trades such as someone buying 125,000 shares at 6.00 (that is 6 pence, not 6 pounds), a few minutes later someone sold 125,000 share at 6.25. They made £312 in a few minutes. Similar amounts were traded 2 more times that day, making nearly £1000. Of course stocks need to be watch to find out if they meet the criteria, and what amounts to place the limit orders at.

The main problem in UK seems to be finding companies that charge low amounts for trades, the lowest I found is £7.50 per trade. The highest charged 1% upto a maximum of £100 per trade.

When I have enough cash put aside for this, I will give it a go.

EXCELENT !!!
How to get rich in two weeks.Bravo. Hope to hear from him about the Nasdaq rally very soon.