Day Trade Online: Start Trading for a Living Today (Wiley Trading Advantage Series) - Hardcover

Of the many day-trading books that have made it on the Business Week list in the past year, Farrell's is perhaps the most readable. Unlike the other tomes written by veteran traders, his book really starts from the beginning, explaining how stocks are traded. Then he lays out some basic common sense -day traders should choose their moments carefully, getting in and out of stocks quickly, aiming to "hit singles, not home runs," he writes. He clearly explains the pros and cons of using regular online discount brokerage accounts and advises readers to expect occassional glitches and late order fills as part of the costs of doing business...Ultimately, DAY TRADE ONLINE is most successful at giving the reader a realistic picture of what the life of an online day trader is like.

Online trading has seen explosive growth in recent years, while at the same time the costs involved have dropped. This has created a class of investor who makes 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. Farrell, a Wall Street Trader until the age of 23 who went on to trade successfully as an independent, has provided a one-stop, comprehensive overview of how to make a profitable living via the Internet. This is a guide which explains in detail every aspect from the basics - tips and traps - to the in-depth strategies for Exchange-Listed and OTC Stocks, while not dismissing the dangers and pitfalls of online brokers.