 "about electronic trading" - muller | June 24, 2009 9:43 AM |
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It's an interesting read about trading with your computer. Because that was the new way to go in the late 90s.
It doesn't show you how to trade profitable. |
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i read this book when i started trading in 1999. None of it really even applied back then, the info a year after it was written was already antiquated.
It was full of gimmicks that worked when there was a larger bid/ask spread and few people had level II access and execution venues. Even now, level II access is only good for split second supply and demand decisions. I often wonder and think I could be just a profitable with a level one quote . I probably could be.
If there is one book I would actually throw out of my trading collection, it's this one. Too specific for those past conditions, once trading evolved it has little value to the aspiring professional.
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I've read a lot of day trading books and figured the "#1 International bestseller" seal meant something. From the time of the writing, few people (IMO) had access to level 2 quotes, especially the typical independant arbitrageur/speculator. I really just didn't gain much from the book although some details about the different ECNs and how they work was new. I think the strategies listed are outdated (obviously). I guess buying the book from half.com for $3 wasn;t too bad after all. |
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| "Dont buy, waste of money, even for a rookie like me!" - pamjoey | February 19, 2007 9:23 AM |
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| "Very outdated... no longer a secret" - skytoast | October 12, 2006 11:06 PM |
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There really is nothing special in this book. Unless you want to read about a time when electronic trading was just beginning to catch on. The marketplace today is a very different landscape than it was when this book was written... Fractions to decimalization, more liquid markets, mergers or changes to ECNs and the like.
You can probably find this book for dirt cheap.. less than $2 or even free. |
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Recommended 
