having exclusively traded the nasdaq for quite some time, i am ready to start trading the NYSE. can anyone reccomend books or where i should start to learn how to succesfully trade and the inner workings of this market. peace, surf
surf, There aren't many good books on trading, let alone on trading the NYSE. I did browse the Farell book(s), but the stuff he recommends (if it works at all) is as "fun" as watching paint dry. I would recommend training at Bright/ECHO. Or, what about reading Hitman's thread, with Time and Sales up, and read that "book." nitro
Why in the world would you trade listed stocks? Nasdaq,because of its volatility, is great for daytrading.The fills are quicker,the playing field is more level,and you are not competing with floor brokers for fills,who always get the good fills,especially when the market is moving.Level 2 can be used to determine who is buying,selling and refreshing their quotes.If you see an ECN bid or offer,you know that as long as it's there,you can hit it or take it.All you see on listed stocks is the best bid and offer,and lots of fake sizes that when you try to hit the bid or take the offer,you get offered there or bid there,without any stock trading.Stick with Nasdaq,much more money to be made on it.
thanks for the reply. i have considered bright's training after having met him at the expo in NYC. never would have considered NYSE except for bright's promotion. take it easy, surf
First . Order the NYSE rulebook as it will provide how the market truely works for the NYSE. As Vinny mentioned Echo gives seminar's on some of our trading styles--I'm one of the presenters. Run some searches on this site for NYSE, Specialist, NASDAQ vs NY and such as there have been some different arguements on both. Robert Tharp
opps my bad. Scrolled up and saw his name --figured he wrote it. Some of the guys in the office are getting me in trouble by keeping me out late at night. Robert
I find listed (NYSE) issues to be more orderly and to trend better in deeper time frames then the NASDAQ stocks. Not great vehicles for day trading, but if you can keep your stops out of the reach of intraday whips, they have some great trends to play with. As a daily based trader they are my bread and butter! Examples (all daily charts).... APA nice uptrend, 20ma been great support until this last test OI Old school breakout, nice trend huh? WAG bull flag TIF Bull flag AES 1 2 3 bottom with a base break Good Luck and Good Trading! -Bo Yoder
T/A, Did I read this correct? You don't think that NYSE are a "great vehicles for day trading" ??!!????!!!!! nitro