Trading For Dummies isn’t about high-risk, fast-paced day trading. It’s a simple, straightforward guide to the ins and outs of stock investing that offers a measured, level-headed approach to trading. You’ll learn the basics of portfolio management, measuring stock value, market analysis, and much more—all with a focus on risk reduction and steady profits. Inside you’ll learn how to:
This friendly guide presents the kind of honest advice you won’t find in the typical get-rich-quick books on trading. Full of practical tips and tactics—as well as hardnosed insider advice—this handy resource shows you how to build a strong, balanced, and profitable portfolio. Whether you want to save up for your retirement or pay for college, Trading For Dummies will show you how to:
This book has all the tools and honest advice novice stock traders need to get set-up quickly and safely. Basic strategies and stock valuation methodologies let you control your risk exposure and make wise decisions. Trading For Dummies includes everything new traders need with advice on every type of stock or derivative, every kind of trade, and every popular strategy.
The new breed of trader Written in an accessible, step-by-step manner, A BeginnerÕs Guide to Day Trading Online, 2nd Edition shows how to day trade stocks in todayÕs market.
Customer Reviews:
Beginner's Gude to Day Trading Online.......2007-10-24
I wish I had found this book sooner. Ms. Turner's approach is the best starting place for those needing basic instruction. I'm so impressed that I've recommended and/or sent copies of her books to family and friends interested in trading. As a competitive person I've found her input in trading is the best application of the steps to winning at anything that I have ever found put together in one place. Can't say enough good things about this book. It has become my "bible" to trading online. Thank you so much for sharing your time and experience learned lessons which reduce the learning curve of the novice and support the always learning online trader. Bess you.
A Must-Have for Any Trader.......2007-10-02
Great read, and very informative. This is a must-have for the wanna-be or "thinkin' about it" Day Trader or any kind of trader. The principles covered span all types of trading. The author is clear, concise and to-the-point. Loved it! Will keep it to re-read and reference.
A Beginner's Guide to Day Trading Online.......2007-09-03
I am very pleased with the ammount of informatioon of on candlestix charts. I was going to order the candlestix course later. This book has much information on chart technical analysis that I need.
I want to thank you for adding this title to my cart because I previously had not heard of this book.
Thank you.
this is a good straight forward beginner's guide to trading online..........2007-08-09
Well worth the money, it is a good book to learn trading online, useful tips, reading level is understandable, I recommend it, Adrian Ranola
Great primer for novices and beginners.......2007-05-30
Although there are plenty of reviews on Amazon to help you decide whether or not to buy the book, I wanted to offer my two cents.
As for the positive points of the book, the title is dead on: "A BEGINNERS Guide to Day Trading Online". The book is a great primer that introduces you to the world of day trading, trading jargon and terminology and, although briefly, charting and technical analysis. The book is well written and Toni Turner does a great job of explaining things in layman's terms. I personally thought the book excelled in two areas. First, the book does a good job of introducing the readers to the styles of day trading. Toni explains the time frame and investment goals of classic day trading, swing trading, and scalping. Whenever she introduces a new theory or strategy, she takes the time to show the reader how the newly introduced topic relates to the day trader, the swing trader, and the scalper. Secondly, I appreciate the fact that Toni puts together a point-by-point checklist to help the beginning trader choose a stock. The checklist is by no means perfect and you will definitely want to include/exclude certain criteria when you begin to trade, but instead of aimlessly looking through thousands as stocks after you finish the book, she gives you a good starting point.
Another positive point of the book is the fact that the author includes short quizzes at the end of each chapter to help you absorb the information just presented and a "Center Point" that features a motivational quote and couple of paragraphs of reflection. The "Center Point" motivational speech compliments the authors "Rah-Rah" Cheerleading-type tone and constant overuse of the exclamation point that other reviewers complained about. I really didn't mind the authors cheerleading and enthusiasm, but I can understand how some people were annoyed by it. I would definitely prefer a lively author who is excited about the world of trading than a dry, cold author with no personality.
As for negative factors, I think Toni Turner tends to oversimplify things a bit. You come away feeling as though you're ready to place your first trade after reading the book when you are really only beginning to scratch the surface. The book offers VERY LITTLE technical analysis. Toni never mentions key indicators such as MACD, RSI, ROC, or PSAR. I understand the book is just a primer for beginners and that the aforementioned technical indicators are not necessary for someone who is trying to decide whether or not he/she wants to trade for a living. However, if Ms. Turner is going to suggest you can begin trading after finishing the book, she should at least suggest to the reader that there are other technical indicators to be considered before entering a stock position.
Here is how you should decide if this book is for you or not:
If you are novice who is considering trading part-time or would like a solid introduction to day trading as a full-time profession, this book is for you. WORD OF CAUTION: Do not open up a brokerage account armed solely with the knowledge in this book. You will go broke quickly. I suggest you follow up this book with other books on the subject of trading (Toni gives you a listing at the end) and paper trade for a couple months before you even begin to think about trading with real money.
If you are an advanced-beginner or intermediate trader, this book is not for you. You probably already have a working knowledge of every concept Ms. Turner presents.
Book Description
Options are potentially one of the most profitable investment instruments available in todays intensely volatile financial markets. Just a few years ago, the information needed to exploit the vast earnings potential of options was beyond the reach of all but a handful of analysts. Now, anyone with a PC and a few basic software tools has direct access to all the up-to-the-minute market information needed to compete successfully with the "big boys." But, having information and knowing how to wield it are two very different things. In this groundbreaking book, online options trading innovator George Fontanills arms you with the knowledge and skills youneed to unleash the phenomenal power of your computer to become a successful online options trader.
Following a concise review of the basics of online trading--including hardware andsoftware requirements and essential online resources--Fontanills cuts to the chase with step-by-step coverage of 15 proven managed risk option trading strategies. Specifically designed for online traders, these tested off-floor techniques provide you with a sure-fire method for consistently building up your trading account. Drawing upon his years as a leading international options educator, Fontanills makes it easy for you to master online options trading by walking you through a series of hypothetical trades that demonstrate how to compute the maximum risk, maximum profit, breakevens, and exit alternatives for each strategy.
Trade Options Online also includes a comprehensive guide to fundamental and technical analysis methodologies, a detailed list of 240 hot financial resources, websites analyzed from the point of view of an online options trader, and a review of more than 70 online brokerages. Trade Options Online is your complete guide to earning a living and making a killing as an online options trader.
"George Fontanills, the dean of options trading, has put together an online options trading approach that is down-to-earth and insightful. Armed with this book, investors should feel well equipped to play on the battlefield, having been forewarned of the risks, dangers, and opportunities. Fontanills cares about everyones money as much as he cares about his own--a rare find in the world of finance." - Peter D. Henig Senior Editor, The Red Herring
"Fontanills clearly and concisely outlines a map for options traders looking to move online. Covering options strategies as well as some technical information, Trade Options Online provides a solid overview of this emerging area of investing. As always, Fontanills is ahead of the trend." - Brenon Daly Options columnist
"Fontanills has written a great guide for the experienced and novice options trader. I highly recommend Trade Options Online to anyone. Trading options online is the obvious next frontier. Be ahead of the curve." - Bill M. Williams, PhD, CTA Author, Trading Chaos and New Trading Dimensions
"Options trading expert George Fontanills has written the definitive guide to trading options online. Filled with everything from a comprehensive list of insightful website reviews to innovative options strategies, Trade Options Online is a must read for all investors who want to compete successfully in the computerized markets of the twenty-first century!" - Brown President and CEO
Customer Reviews:
Trade Options Online.......2007-01-16
FRom your description this sounded like a very good book since I am interested in trading options. Lo and behold I find out this book was published in 1999 and in 8 years lots of new things have been developed. You should have mentioned in your promo that this book was written 8 yrs. ago. I got ripped off. Just be honest with your descriptons. Les Lerner
Good primer but not very useful for traders.......2003-07-08
This text contains a lot of information on online trading in general and trading of options in particular. But be careful, you need to know more than that to succeed in this business. Although this book will tell you how to go about placing your orders and which option strategy is good for which situation, making money comes down to predicting the behavior of your stock price and volatility, something you will have to learn elsewhere. Incidentally the book was most likely written to increase subscriber base of the author's website, so don't let your guard down.
Time value of that book is zero.......2002-03-16
First 8 chapters give you a very superficial introduction to the options trading and some strategies. Let me repeat - very superficial. If you want to learn that matter, you definetely need another book.
So, I was trying to get usefull info on the WEB resources. Let me tell you - two years make a big difference in the Internet world. Many sites do not exist. Some of them have nothing in common with the description, which you find in a book. Chapter 9 - "cybervesting from A to Z" is a complete waste of time and is full of frustration. It guides you through interfaces of nonexisting web pages. The pages, which, according to th author, answer the crutial questions of a trade. I lost most of time just to verify nonexistence of the referenced resources.
Decent Introduction to the Options Arena.......2001-11-27
I won't pretend to be an expert option trader. I'm in my third year of seeking a bachelor's, and the degree will not be very finance or investing related. This is the first book I read about options, and it successfully heightened my interest by introducing me to some basic option strategies. Another success of the book is the advice it gives on how to initiate and monitor trades throughout the trading day.
Unfortunately, the only people with time to check these complex positions each and every minute are multi-million dollar hedge fund managers (such as the author). The rest of working class America and I can only check our investments on occasional evenings. My guess is the average reader does not have the time or the stomach to sit on pins and needles every day wondering if it's time to exit their risky positions. The only advice the author lends about early exits from trades is that if the stock looks poised to move against you then get out.
Also, the author tells us to start looking for trades based on increased media coverage, high volume, and/or price volatility. This sort of herd following mentality is what I think leads to the massive market swings which cable commentators and industry insiders pretend to understand but incorrectly predict on a daily basis. If the author could truly capture these wild swings, writing this book would not be necessary.
Even the author's own website (after buying expensive extra services) does not search through all optionable stocks to find volatility skews that would make the pie in the sky trades illustrated throughout the book possible. The "platinum" site lets you pick a stock and then see what you can do with it. The odds of randomly finding a stock where you can risk less than $75 and possibly gain over $400 with a 15 point spread of profitability (chapter 8, long condor), are close to a needle in a hay stack.
Applicable advice to average investors is something this book truly lacks. Modifying simple stock ownership with options is not discussed. All of the option strategies included contain absolutely no stock positions (long or short). Trading within IRA's was important before the maximum contributions started being increased, but now they will become more important than ever. I suspect the rankings of brokers in the book and on the author's website are based more on advertising compensation than usefulness to individual traders. The rankings refuse to recognize the lowest-commission-charging online brokerages, and left out completely is the issue of assignment and exercise fees. Assignment and exercise fees can range from 15 to 30 dollars - per contract ... emphasis on per contract. I chose my current broker (not on any ranking list) only because they do not charge those fees.
In a final derogatory note, the seventh chapter contains text that contradicts itself when explaining the ratio call spread and the call ratio backspread. I had to reread the chapter a few times to sort out where the errors are, and what those positions entail.
Again, the book did shed light on an area of investing I knew little about, and intrigued me enough to want to learn more. Yet by sporting a sexy neon cover and depicting life from the point of view of someone managing millions, this book and others like it will probably keep average people thinking of options as risky, scary, and strange. Other than giving me a basic understanding of some common ways to trade, all this book really accomplished was motivating me to write a better one.
Please Read This Review Carefully.......2001-09-29
This book is only a decent overview of options trading. Its pluses include its concise descriptions and profit/loss graphs of different option strategies and invaluable information on finding an online options broker. HOWEVER, it leaves the reader with unrealistic expectations (like all of Fontanills' and Optionetics' materials) in that ALL of the trades in the book are profitable. Take it from someone who has learned this personally -- options trading is NOT a "get rich quick" scheme. Should you choose to try it you will have MANY unsuccessful trades. A book which is very easy to understand, yet which provides valuable guidance on WHAT CAN GO WRONG is Max Ansbacher's _The New Options Market_. I sincerely recommend that book because it is able to describe the pitfalls of options trading in a manner which I've not found in other books. Good luck!
Book Description
Here is a uniquely honest examination of the online day trading concept, the firms that cater to it, and what works online and what doesn't, so that would-be day traders can avoid the pitfalls-and the losses. Discussing trading as a business that most traders conduct without a plan, this book addresses common trading misconceptions, provides realistic answers to critical questions, and features an investigative analysis based on real people who are day trading and the firms they trade at or through-whether through virtual trading rooms, the Internet, or real-time operations.
Customer Reviews:
To be considered a 'gem' in relation to its price........2005-09-29
I decided to give this book a chance in providing me essential elements of a typical intraday technical trading system. Sure I wasn't expecting a copy-paste daytrade system that suits everyone.. if there ever was one...
It's just, if you're starting out in daytrading (asuming you've been doing numerous of position & swing trades) looking for honest information, this book does the job. Eclectic but essential and honest. The actual job of creating a profitable system, simple or complex, still is yours.. .
Decent book.......2002-09-08
This is not your ordinary trading book, but one that teaches some real "usable" techniques. The book is broken up into chapters written by different people, so the tone of voice will change frequently. The prize of this book is the Seleznov breakout method, which anyone can use to trade profitably for life. That alone is worth thousands of times the price of this book. I'd recommend this for any serious amateur/semi-pro level short term trader who may be lacking a consistent trading system.
Strategies you can use.......2002-03-15
I have read many "trading" books, and find this one a pleasant suprise. Section Two includes a good source of trading strategies that work, each one written by people who actually trade. Strategies covered include 1) pure price action by Gary Smith, 2) breakouts by Mark Seleznov, 3) seasonals by Steve Moore, et.al., 4) patterns by Mark Etzkorn, 4) springs and upthrusts by Hank Pruden, 5) Bow Tie patterns by Dave Landry, and a few others.
The strategies include a good summary of setups, entries, stops, and exits. These summaries are general enought that you can program them in most any backtest software you use, not just Tradestation or C++. I use them to backtest with TC2000 and TC Companion.
The book also has very good information on risk mangement, the mechanics of trading and the mindset of different trading styles.
The great thing about this book, is that it is a well integrated compilation of tools and techniques from a variety of well known and/or highly successful traders. The editor did a wonderful job of taking this diverse group and integrating the book into a very logical and usable flow.
While it may be too much for the pure beginner, this book will be most appreciated by the intermediate to advanced trader.
Eclectic, but useful.......2002-01-02
This is an eclectic book. It doesn't focus on a major theme and is a collection of different people's views plus the author's.
I would not recommend this book for beginners who want to learn the basics because I don't feel the foundation is thorough.
It is a good book for those who want to see how others trade, their diverse techniques, and their opinions on trading. Also of value are the risk management techniques.
A more appropriate title would be: Different techniques by various traders and other trading tips.
Good Book - Like it.......2001-05-03
This is a good book that tells it like it is. It made me stop and think before I risked my money in the stock market. It was written by a group of writers who seem to know their stuff. It talks about a subject which many day trading books do not! It is risk mgmt. If you wanted to learn about NASDAQ, this is a good book. If you wanted to learn about the NYSE, I would read another one. The thing though is the diveresity in topics covered in this book. I do recommend it to begginers and intermediate traders. Beware that after reading this book, you may end up postponing your plans to trade in a rush.
Book Description
Technical analysis¿the analysis of price, volume, and supply/demand imbalance br>has been a staple of serious traders for decades. Now, The Day Trader¿s Guide to Technical Analysis shows traders already familiar with charts and charting how the well-known, time-honored rules of technical analysis can help uncover tremendous profit opportunities in today¿s fast-action, wide-open electronic day trading environment. Trading professional Chris Lewis illustrates his methods through a week of sample trades, explaining what wins, what loses, and why. Details covered include: ¿ In-depth explanation of Nasdaq Level II screens and time of sales ¿ Strategies to get the best price for any trade¿buy or sell ¿ Discussion of trading psychology, with proven rules for maintaining discipline Chris Lewis (Hastings on Hudson, NY) is Vice President of International Operations for ILX Systems. A professional trader, Lewis previously worked as a trading systems engineer for UBS Fixed Income, Henderston Administration, and Reuters.
Download Description
The Day Trader's Guide to Technical Analysis shows traders already familiar with charts and charting how the well-known, time-honored rules of technical analysis can help uncover tremendous profit opportunities in today's fast-action, wide-open electronic trading market.
Customer Reviews:
Great book with rare insight.......2006-04-20
The chapter on level 2 alone is worth the price of the book. Yes the markets have changed and will continue to change, but you can always apply the general principles. Example: accumulation is accumulation regardless of what the market conditions are. Chris points out how to spot accumulation on level 2 and T&S, and if you grasp the idea, you should be able to spot them in any market with the tools available.
Very useful, if somewhat out of date..........2002-02-17
There is much useful material, along with a thoughtful approach to creating a daytrading discipline, in this book. I don't fully agree with (and wouldn't expect to) all of Lewis' statements, and, as you might expect, given the changes in the trading environment over the last couple of years, many of his methods and observations are arguably already out of date, but others still apply, and his overall philosophy, perspective, and attitude are probably more important, in my opinion, than the particulars of his personal approach as practiced in and around late 2000. The text includes numerous clear, concrete, and detailed examples, though you may have to look past an L2 screen with a stack of QCOM buyers at 343 13/16 (I just never get over mania-market prices) to receive the message.
SOMEONE SUCCESSFULL WITH THE SAME INTERESTS AS US FINALLY TA.......2001-09-08
SOMEONE SUCCESSFUL WITH THE SAME INTEREST AS OURS REVEALS TO US HIS SYSTEM. CLEAR, THRUTFUL AND CONCISE. THIS BOOK WAS THE ULTIMATE REVELATION FOR ME. GOT ALL MY IDEAS CLEAR ON MY OWN APPROACH AND PERMIT ME, COMBINED WITH DIFFERENT MOMENTUM CONCEPTION TO GAIN MASTERY IN TRADING. MY DREAM HAS BECOME REALITY AFTER 10 MONTHS.
THANK YOU A LOT Mr. LEWIS for your GENEROSITY AND plain english FOR TREATING SUCH COMPLEX MATTERS.
(OTHER PARALLEL READINGS TO GET TO THE ULTIMATE RESULT:
STAN WEINSTEIN/ WILLIAM O'NEIL (TRADING PHILOSOPHY!!
ALAN FARLEY (ORIGINAL SWING TRADING CONCEPTION
JOSH LUKEMAN (MARKET MAKERS MENTALITY
& ARI KIEV (PSYCHOLOGY ASPECTS FOR TRADING
These strategies don't work.......2001-05-24
I lost money using these strategies. Buy Steve Nison book if you want a good book on TA. This one just doesn't measure up.
All in all, a rather decent book.......2000-11-16
The good points: first, the book's emphasis is on trading the open, offering a straight forward strategy for playing momentum type gaps. Second, the book has a thorough review of TA basics filtered by practical and experienced advice. Third, there were several odds and ends (like NASDAQ having two data feeds, do the S&P Futures really say anything, etc) that were indeed helpful.
The not so good points: while, its all there, you have to really read the text carefully to extract what you need - meaning it could have been better organized for flow in some chapters. Second, a week in the life "Trading Week" would have been more satisfying if it had been two weeks long and not one (the author might disagree).
All in all, a rather decent book that I value for its level-headed, lets stick to the basics, here's what really works kind of thinking.
Book Description
On his hugely popular Web site Undergroundtrader.com, Jea Yu tells traders how to stand firm, trust their instincts and knowledge, and grab the day trading profits they deserve. Traders trust Yu's hard core, just-the-facts perspective to cut through the fluff, hype, and misinformation, and deliver effective trading tips and strategies on techniques, order routing, technical analysis, market maker activity, and more.
Here, Yu dynamically transfers his methods for making daily, real-time recommendations to the printed page. Traders will derive instant benefit from Yu's straightforward, Web site-driven analyses including: *
Vital and detailed information on the different stock markets *
Techniques to profit from IPOs and Internet stocks *
A day in the life of a successful electronic trader
Download Description
Are you ready to learn the down-and-dirty rules for making an excellent living as an electronic day trader? Then let Jea Yu's The Undergroundtrader.com Guide to Electronic Trading teach you the advanced tools and techniques of today's most successful traders.
Customer Reviews:
totally worthless.......2004-07-02
It always amazes me how some people have the ability to write a whole book with nothing to say. If you can make money using the techniques in this book please email me, as far as I'm concerned this book is only meant to promote their services. The second half of the book is surely meant to impress, not to teach. I hate these selling techniques: they even make us pay for their promotional material.
Pragmatic advise to those who can listen........2002-08-20
If one were to follow the advise in this book, they would be successful. The author leaves nothing to chance and is trying to teach the reader that he too must leave nothing to the whim of the market. The premise on which this excellent book is founded is to react to the market and not forecast it. As Jea Yu points out, it is harder to do than you might expect. The battleground is really the "baggage" that we all bring to the table - our ego's, our budget and most of all our bad judgment. This is a great book and teaches a winning style, if the trader has the discipline to follow it.
Outstanding. Read it again and again........2002-07-20
A novice should probably read that fluffy Toni Turner book to get an idea of the lingo, but no one should contemplate day trading without reading Lu. This book is a detailed description of the intricacies of no-nonsense, hardcore daytrading, written by a consistently successful practitioner.
I have read dozens of books on trading and this is the only one that I read again within one week of finishing it for the first time. It's simply too good to store on a shelf. Read it, learn from it, read it again, profit from it.
To use an old cliche, the small amount of money spent on this book will be the best investment you'll ever make. I'm not kidding. Read Toni Turner's sappy book if you must, if you're new to the game, but don't open an account until you read Jea Lu. His explanation of Level II screens, the use of stochastics and moving averages, and his advocacy of zero-emotion trading are all gems, which alone would be worth the price of the book.
I'm currently re-reading it, cover to cover, for the third time.
Add this to your arsenal.......2001-12-22
Books on day trading are everywhere! Hmm...is this book for you you ask? This book should be read by all beginner to intermediate traders. Many people think that they can find ONE book out there and read it and make $$$. It's not like that in this profession. Would you be a lawyer after reading one book, much less without a degree? So this book is a tool, and a good one at that. No fluff here, just the experiences of someone who trades. If you wake up and sit in front of your monitor from 7:30am to 4pm watching Nasdaq Level II screens and daily/intraday charts...they this book will help you. He shows you HIS experiences in the market. Like I said in my headline....add this to your arsenal of solid daytrading books.
One of the best books on day trading..........2001-12-04
Most who attempt day trading fail because they underestimate the learning curve, both in terms of the knowledge and capital it takes to succeed. The UndergroundTrader.com Guide to Electronic Trading, is recommended to those with at least some day trading experience, who are determined to survive the learning curve. Author Jea Yu is co-founder of UndergroundTrader.com, a popular Web site for day traders. "The secret to successful trading" he says, "is to know what to do when certain prices occur, and to let go of belief and prediction in order to focus more clearly on what is actually happening in the market."
The book's themes are the necessity for precise, objective methods of identifying and managing trades, the requirement for discipline, the importance of money management, and the powerful psychological factors that lead traders into self-defeating behavior. Charting indicators and studies such as moving averages, stochastics, and Fibonacci pivot points are detailed and illustrated, and the author does a superlative job of explaining the nuances of reading the Nasdaq Level 2 screen and how to track the ax and significant market makers. Execution methods and order routing are covered, as are as ways to exit trades in fast markets. Two days in the life of author-trader Yu are detailed minute-by-minute, trade-by-trade - and this section demonstrates and ties together the principles and techniques presented throughout the book.
Roll up your sleeves, for you will likely find this one of the best books on how to day trade with success.
Average customer rating:
- Futures As The Future of Financial Markets
- View from the Boardroom
- The New Futures World Order
- For everone inside an outside the Markets
- capital markets revolution
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Capital Market Revolution: The Future of Markets in an Online World
Patrick Young
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Ahead of the Curve: A Commonsense Guide to Forecasting Business and Market Cycles
ASIN: 0273642324 |
Book Description
This book is a blueprint for coping the revolution, it gives a new vision of finacial markets outlined clearly and succinctly in print for the first time.
Customer Reviews:
Futures As The Future of Financial Markets.......2000-07-22
As the cover of this book says: Liquidity! Accessibility! Transparency!
The authors take a European perspective to challenge the traditional way that financial markets have operated in the United States and elsewhere. They point out, correctly I think, that the revolution is here. Fully automated markets now do the bulk of the worldwide futures trading. For example the Chicago Board of Trade was overtaken in futures volume by the fully automated German-Swiss EUREX in Frankfurt in 1998. London was charging from behind to take a big piece of the automated futures business as well. Automated trading experiments are going on in a number of other places, as well.
The vision the authors have is captured by a quote from Ludwig von Mises: "Economic history is the story of the gradual extension of the economic community beyond its original limits of the single household to embrace the nation and the world."
This vision is essentially of convergence into one global market, with one clearinghouse, and one regulator to do everything. The need to get costs down will require that convergence as the ultimate solution. How imminent this vision is has to be a guess (the authors convey the vision in the form of a dream), but the stories in the book show how often the complacent, traditional view has been wrong. The authors are good at pointing out the speed bumps that will delay progress, and outline good ideas for better and faster implementation.
But they are definitely tolling the bell in the near future for face-to-face selling. "In the future there will only be electronic traders." They also see a rise of small traders, small banks (doing direct placements of IPOs over the Internet with traders without underwriting syndicates), and greatly squeezed paychecks for traditional investment banking and trading activities.
I found the book to be consistent with my own vision. I was still left with the question of why the transition has not been a faster one. Financial markets should be converging at a much faster rate, if one looks only at the technology and the use of the Internet. Which aspects of human stalls are the worst delayers? Probably the tradition and bureaucratic stalls, because the existing markets and regulators are very slow to see new opportunity. Consider how recently fixed trading commissions disappeared. Those should have been gone in the Roaring Twenties.
If you want good detailed information on the state of the electronic market revolution, this book is essential reading. If you own a seat on an exchange, your pocketbook requires immediate attention.
There is an excellent section on how to prepare for the transition, and another one on the dangers to be cautious of.
Good look in building your wealth faster through more efficient markets!
View from the Boardroom.......2000-03-22
In reading the book, there are many things that would scare traditionalists in our business. The rules are changing, and unless we adapt as traders and exchanges, we will be doomed. As I have discussions with other board members, and other floor traders, some intuitively understand the coming electronic age. Others pass it off as a purely European phenomena. "It won't happpen here.", is a phrase I hear every day. Brokers and traders see that the computerized competitors are having a tough time gaining a foothold in the American futures market. They rest thinking that their future is secure, and that maybe their margins will be squeezed a little. The revolution has only begun. While some of the positions the book posits seem outlandish, Columbus was seen as outlandish in 1492 too. This is a must read for any person associated with floor trading or an exchange. This also makes good reading for anyone involved in government regulation. Barriers are being broken down. Borders set by politics are not relevant to the sea change taking place in the financial marketplace. The U.S. is the titan of investment capital today, but a government that shackles the growth of the marketplace due to over regulation, is doomed to see all that capital leave for less regulated environs. I am on the Board of Directors at the Chicago Mercantile Exchange, so I speak from experience. The revolution has begun, and we are trying to embrace it.
The New Futures World Order.......2000-01-18
Building on the monthly news and insight from Patrick Young's ADTrading.com newsletter, Patrick Young and Thomas Theys have put together a concise history of recent developments in capital markets, especially the futures markets, and the steady advance of electronic trading. As a longtime reader of the newsletter I have been exposed to most of these ideas on a monthly basis; as an industry executive I have watched the events unfold day by day. Nevertheless, this compilation provides fresh insight into Capital Markets trends.
I recommend this book to anyone interested in an overview of the recent history of the futures, equity and FX markets and a plausible view where the markets are heading.
I would also recommend Capital Markets Revolution to industry insiders who are well aware of the events and ideas discussed, as they can benefit from the framework and view of the future into which current events are placed.
For everone inside an outside the Markets.......2000-01-12
Following a concise and accurate history of the markets last 2-3 years and the possible developments that may effect participants in the markets.
This book is worth a read, by anyone interested in the markets.
I'm only sorry that I think the political aspects of these changes not happening is not addressed.
capital markets revolution.......1999-11-25
Patrick Young looks into his magic eight ball and reveals what the future holds for the financial markets. Very radical and probably very acurate. A must read for those traditional brokers who are contemplating a second house in the Hamptons
Book Description
A complete guide to day trading stocks, options, or futures, plus companion workbook
This valuable guide is a complete day trading course (with a companion workbook) that walks novice traders through all the day trading opportunities. The Day Trader's Course is packed with basic technical skill, proven winning strategies, and essential background. Lewis Borsellino reveals when to buy and when to sell, and shows readers how to identify when "it's over" for a particular stock, option, or future. Drawing from his considerable experience, he identifies the rules that every trader should follow.
Download Description
This valuable guide is a complete day trading course (with a companion workbook) that walks novice traders through all the day trading opportunities. "The Day Trader's Course" is packed with basic technical skill, proven winning strategies, and essential background.
Customer Reviews:
Useless for all but beginners.......2004-07-06
Another mediocre, general-fare, trading 101 (in fact a chapter IS named Technical Analysis 101) book that is pretty much worthless drivel except for all but the most beginning traders. WHY OH WHY can't someone write a book that takes traders, step-by-step through actual, real time trades, comprehensively and methodically via a chrnological type format?? Not this one, for sure. The author is simply filling reams of paper with such general ideas as 'don't trade with your emotions,' 'you can't trade if you're upset,' 'psychology can't be underestimated' 'trade with the trend,' ad nauseum. It is clear, Mr. Borsellino is simply trying to improve HIS bottom line with this book. Don't waste your money. One of the more generous and concise books that has lots in it for all levels of traders is Marcel Linc's book. Also, steer clear of Toni Turner's pablum.
Happy trading
Introduction to trading.......2003-11-03
This is exactly as described a how-to book for daytraders. There is a perfunctory rehash of the basics of technical analysis and execution systems. The material here is helpful as a stepping stone if the reader has never been exposed to the material but there is nothing groundbreaking presented. That alone is of interest to me. Here is a trader that has been successful on the floor with little more that a few support and resistance numbers in his head. It is clear from his book that you will make bigger profits if you understand the market, even if you invest little time reading the latest book from newest technical analyst.
There are sections about how to prepare for the trading day, the dynamics during the trading day and how to use time effectively after trading is done. Again, the material presented is basic in nature. Perhaps when a book is written with such a large scope, it would be impossible to add much depth to the various topics. Borsellino is a legend of trading. But I would recommend Schwartz's Pit Bull over this effort.
Beginners Only.......2003-06-22
One of the trading legends of this generation , I'd imagine it might have been painful for Lewis to "talk down" and write the book in this total trading newbie tone. Experienced traders will find little information here of any use. Just very basic TA, bit of overworked trading principles and the customary psychology chapter. I did find one page discussing fair value and premiums to be interesting and there are a few pages going over the economic indicators at the end of the book that might be worth taking notes on. Overall, a decent pick up for a total beginner though useless for any seasoned trader.
A Complete Insight Into The Day Trader's Course.......2002-06-22
Lewis Borsellino has earned a reputation as one of the greatest for his 20 years of pit trading at the Chicago Mercantile Exchange. Now that computers have brought trading to offices and homes around the world, Lewis is able to teach people lessons he has learned the hard way and that are as applicable now as they ever were. This book offers the essential ingredients that have given the author what it takes to become one of the best. Through Lewis' real-world experiences, the virtues of mental preparation, technical analysis, devising a trading plan, execution and discipline, should hit home with clarity.
The first chapter of the book is dedicated to mental preparation, and the importance of fully understanding the basic truths about trading. Lewis has seen people from all types of professions think they can take what they have learned in their fields and apply it to trading. This is not the case. When Lewis shares his experiences, it is clear that the market requires a certain "frame of mind" that is like nothing else.
At one point in Lewis' career, he had gained $4.5 million in profits, but saw it evaporate to only $100,000. From this loss, he learned that certain errors in his thinking were the culprits. For example, trading in big size may be good for the ego, but it can get you into situations that a poor market won't accommodate for. As Lewis said:
"I couldn't fling around hundreds of contracts to satisfy my ego or because people in the pit expected that of me. I had to trade what suited both my own plan and the market conditions. After that my trading was noticeably on track."
With a proper mindset in place, a good trader needs a good plan to execute. Essential to Lewis' plan is technical analysis. According to Mr. Borsellino, technical analysis, as far as drawing up the images, is the easy part; interpreting them is where the real expertise comes in. With this book as your guide, insight into what Lewis looks for in a chart will be made clear. The goal here is to identify the trend at an early stage and stay with the trend until it has ceased. Just learning the patterns will only get you so far, it takes the advice of a real pro to gain a superior edge in the markets.
The most important aspect of trading for Lewis is discipline. This means adhering to a plan, focusing on the trade, not the money, and goal setting. Without discipline, the best strategies in the world will fall apart. Knowing when, and when not to trade, as well as not letting matters outside of trading interfere with your decisions, are the results of practicing good discipline. This challenge is something even Lewis deals with now in his career. Through sharing personal experiences, the author gives tips and advice on how to incorporate good discipline, and to avoid common pitfalls that will wreak havoc on your account. Again, just being familiar with the importance of discipline is one thing, but having Lewis as your guide is a real treat.
I will admit that I am a trading book junky and find something to learn from just about everything I pick up. But this one comes from the perspective of one of the world's greatest, and with co-author Patricia Crisafulli, this well-written read will help solidify what's really important when it comes to obtaining success. As Larry Connors, CEO of TradingMarkets.com, puts it, "If you're looking for theory, this is not the book for you. But if you want to learn how to trade in the real world, Lewis is your greatest teacher."
Part-time traders look here........2002-01-05
Hey, if you are like me and have a full-time job while you trade, then I think that you will find this book valuable. This is real world stuff from a real trader. I mean, if failure is the best teacher then this guy can has learned alot. In the book, Borsellino talks about how he worked over $4 million down to $100K and what he learned from it. That's the best part about this book, lessons like that broken down into a simple set of rules to trade by. Another plus, Borsellino gives you his support and resistance levels every day on the S&Ps free on TradingMarkets.com!
Average customer rating:
- Will Our Future Be Technofutures?
- A majestic tour de force of what is to be.
- Inspirational, informative and captivating
- Your Life, Your World, Your Future
- Brilliant insight on key trends and innovations.
|
Technofutures: How Leading-Edge Technology Will Transform Business in the 21st Century.
James, Ph.D. Canton
Manufacturer: Hay House
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ASIN: 1561706531 |
Book Description
Technofutures provides a visionary and bold forecast of how leading-edge technology will transform business and society in the 21st century. This book is a blueprint for carving out competitive advantage. If you want an informative, entertaining and easy-to-access briefing of what innovations will shape the future then Technofutures is for you. Find out what the future holds for customers, lifestyles, and markets. Discover what the future of health care, financial services, entertainment, computers, nanotechnology and education will be. Hold on to your seat as Dr. Canton, who CNN calls the Future Guru forecasts the top trends you must know about now to thrive in the 21st century.
Customer Reviews:
Will Our Future Be Technofutures?.......2002-04-10
TechnoFutures is written by Dr. James Canton. Dr. Canton is one of the leading technology futurists, and he is editor-in-chief of the Canton Technology Report. This book is about how technology will continue to bring impacts and changes, both economically and socially, to our lives. With the evolution of technological development, the interaction between human and technology will become inseparable.
According to the author, in terms of economic changes, e-business will eventually dominate the traditional business practice. The industries that will be transformed by e-business included stock brokerage, insurance, travel, auto, chemicals, media and entertainment, computer and electronics, telecommunications, real estate, medicine and health care, etc. As Dr. Canton suggested, if we want to survive through the 21st century, we must learn how to adopt e-business technology.
In terms of social impacts, technology will bring impacts at both the personal and collective levels. In the future, our personal lives will involve computers, robots and virtual reality. Robots and computers will play a role as a companion such as a housekeeper, a secretary, or even a friend to human. And as for human, we will engage more activities via virtual reality such as playing golf. For the latter one, educational changes will be a good example. Educational institutions will change their formats of teaching. Instead of the traditional classroom learning, students and teachers will meet via virtual schools.
By means of frequent sidebars, the author has provided readers an insight of our evolving technological world with vivid scenes and dialogues amongst the robots, cyber companions and human. However, the design and placement of these sidebars, often of similar fonts right in between the texts proper, could sometimes be confusing. Also, the author could have arranged the hierarchy, if any, of the sub- and sub-sub-titles of his chapters better, so that the readers can better digest the often far-fetched subject matters. Indeed, the subject matters discussed sometimes verged on science fiction rather than scientific prediction. This is most evident in the author¡¦s discussion of cyborgs and androids, all, perhaps coincidentally, also prominently featured in Star Trek: The Next Generation. I do appreciate, however, the author¡¦s efforts in making technical matters easier to understand for lay persons. There is, as far as I can see, no one single formula in the book. The author is also good in presenting moral issues for deeper thoughts, such as that concerning eugenics.
Although Dr. Canton¡¦s future world may seem too advanced for most of us, we are in fact living in an information society. This book has provided me a chance to be aware of our technological developments and dare me to envision our future world from a non-traditional perspective. Overall, I enjoy reading the book.
A majestic tour de force of what is to be........2000-05-19
As a manager for the advanced technology practice of one of the world's leading executive search firms, I found Dr. Canton's book comprehensive, illuminating, and deeply insightful. It is a beautiful work of art, a majestic tour de force of what is to be, detailing how technology will impact our lives beyond our wildest expectations. The material is comprehensive, yet easily understood. I came to appreciate life in this era of aggressive change and discovery. Dr. Canton's book is a must-read for any inquisitive mind, young or old, and is actually difficult to put down. I have purchased additional copies as gifts for clients.
Inspirational, informative and captivating.......2000-03-01
Dr. Canton is Heinleinesque in the way he weaves a coherent, congruent, knowledgeable and thoroughly entertaining story about the future of technology and its influence on our lives. I believe his predictions serve as a blueprint for where to position your career, investments and personal interests over the next half century. I was blown away by his insight into the future of medicine, specifically and quite selfishly, his prediction that I may clone my favorite dog right down to its personality. Dr. Canton forced me to my learning and dreaming edge, right where you want to be if your goal is to endeavor into the technological fray, but aren't sure exactly how and where.
Your Life, Your World, Your Future.......2000-02-05
Technofutures is an eye-opening experience into the world we live in today and the world we will live in soon. If you have any desire to know how life will be on earth and in the heavens, this is the book to read.
Brilliant insight on key trends and innovations........1999-09-23
This is one futurist in a million that has it right! From the future of electronic commerce, robots, bioscience, computers and more--it is a comprehensive tour of the next century written by a noted futurist who makes sense. I heartily recommend it to anyone interested in preparing for the future and in understanding the tech chaos all around us. Easy to read, accessible and imaginative for the CEO or college student.
Average customer rating:
- You say you want a revolution? Well...
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The New Capital Market Revolution: The Winners, the Losers and the Future of Finance
Patrick L. Young
Manufacturer: Texere
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ASIN: 1587991462 |
Book Description
The capital markets can be defined as any organized market - or indeed private exchanges - where capital funds (debt and equity/shares) are traded in order to raise capital - cash - for the issuer or holder of the shares or debt. This also includes the multi trillion dollar commodity business and bond and stock trading. Essentially, any market where various counterparties are brought together to conduct business.
Customer Reviews:
You say you want a revolution? Well..........2005-01-08
This high-pitched book takes on the task of describing the recent innovations in capital markets and of prophesizing where these innovations will lead. The premise is not overly complex. Internet has opened opportunities for new electronic trading systems, which are changing the way capital markets work. These systems will end securities exchange as we know it, since they will be better at matching orders. Brokers, it is argued, will lose a lot of their utility since the masses would have direct access to the trading process. Clearing business, in its capacity to insure that your trade settles even if your counterparty defaults, will blossom. New, nimble, electronic-only services will win the day.
In spite of the book's high aspirations, it fails to excite.
It lacks general appeal. The book allots vast majority of its page space to the argument that new electronic trading systems may force many pit traders to look for new jobs. This in itself would be important news for pit traders, but would hardly appear revolutionary to the general public.
The book decidedly lacks analysis. Will fully automated trading alone offer better access to capital for issuers? Will it enable a substantially different service for individual traders than Ameritrade, beyond just lowering transaction costs? Why are technological advances so different in different parts of financial markets (NYSE, for example, has had the Automated Bond System that started automatically matching orders since mid 70's)? Besides, innovation in financial markets is not new. Is introduction of ETFs (Exchange Traded Funds) indeed revolutionary compared to, say, index funds? How exactly are single-stock futures groundbreaking compared to other financial instruments? The book chooses not to reveal the arguments in support of its statements.
The book is rather poorly written. Many passages employ widely digressive language and never arrive to making a point. In addition, the frequent use of loud labels such as "Luddites" or "post-feudal marketplace" makes it especially apparent that the book relies more on the strength of words than on the strength of argument.
The parallels with French Revolution are ill advised. The cover displays guillotine, most famous as the weapon of mass executions during the Reign of Terror. One hopes that by extolling the virtues of revolution, the author is not suggesting Robespierre as his role model. Coupled with it, the red-and-black jacket most immediately evokes fascist symbolism. A regrettable oversight.
Finally, with its long-winded passages restating the same message and its propensity for strong statements not supported by much analysis, the book is quite tedious, especially for a book about a "revolution".
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