I was wondering if anyone else enjoyed Chris' book, "Day Trade On-line". It is somewhat dated, since it was written pre-decimalization and pre-NYSE Open Book availability, but I found it to be the impetus and inspiration that made me a trader (I started a little over a year ago). It outlines a strategy for scalp trading, and I have used some of its principles and augmented it with many of my own. Has anyone else found this book useful or not ? I'd love to hear from you and discuss further.
i read his book before becoming a trader and used his trading for teenies strategy when i first started.. maybe if they go to nickels it will be valid again.. great book though.. -qwik
I agree with qwiktrader... http://www.elitetrader.com/vb/showthread.php?postid=16539&highlight=farrell#post16539
Hayman, I am in the middle of reading Farrells book for the second time. I read it a couple of years ago, and although I liked it I never tried out any of the strategies in it. In one section of the book he says that if one is taking the spread from the specialist then one cant keep doing this all day in the same stock otherwise the specialist is going to get annoyed and you will suffer, or words to that effect. Then in another section of the book he says one can keep taking the spread from the specialist in the same stock over and over again and the specialist cant really do much about it. Since your trading strategy is based on what you read in this book, what have you found. Does the specialits allow you to keep stealing the spread from him, or can you only do it once and then you have to move on to another stock?