How To Get Started In Electronic Day Trading

"Nassar has in mind sophisticated real-time data and computer programs that let ordinary investors see the same stock information pro traders see at the very same moment . . . a great introduction."­­Kiplinger's Personal Finance

"Reveals important tips and tactics for novices. . . . offers surprising and educational insights on how to 'buy and sell' on the same computer networks as brokers like Goldman Sachs."ABCnews.com

"This book takes you to the leading edge of today's electronic trading technology. Regardless of the prevailing market sentiment­­bull, bear, or sideways­­its techniques and strategies will help you take advantage of the profit opportunities that occur every trading day."­­Technical Analysis of Stocks and Commodities

Amazon.com Review
Only a small percentage of those who try day trading achieve success because most are undercapitalized, lack discipline, and have little idea how much knowledge and experience are required. For the determined newcomer, David S. Nassar's How to Get Started in Electronic Day Trading Home Study Course is a comprehensive immersion that includes a well-written workbook, 10 hours' worth of audiocassettes, and a CD-ROM. Nassar, author of the book How to Get Started in Electronic Day Trading, is a trader who heads a brokerage firm offering electronic trading as well as training. He writes, "My task here is to teach you to play with fire without getting burned."

The workbook presents an overview of the markets and introductions to electronic direct-access trading (EDAT), indexes and indicators, and technical analysis. Also included are detailed explanations on how to pick tradable stocks (are you a specialist, scalper, or shepherd?); trade the news (earnings, splits, economic announcements); and profit from going short ("trading the bear inside you"). The chapters on market psychology and money and mind management are particularly astute ("The Emotional Bank Account Is Funded by Attitude"), and all are cross-referenced and reinforced in the corresponding audio tapes. The CD-ROM includes effective audio-visual presentations on the components of an EDAT trading platform, the analytical tools, trading mechanics and execution methods--most illuminating are the trades the author navigates, tick by tick, on NASDAQ level two.

In all, Nassar has done an admirable job of creating a thorough introductory training course, and his enthusiasm and passion for markets and trading are infectious. Those serious about learning to trade successfully will find this an effective--and hopefully profitable--introduction. --Scott Harrison

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All Customer Reviews
Average Customer Review:
0 of 0 people found the following review helpful:

A small fish in a competitive pond, 2007-04-01
If there were no other books for those desiring to learn to trade this book would be ok. This covers a lot of the basics but not as well as many others available. I have been investing in equities online for five years - before that in mutual funds that I selected. I'm now looking to start trading based on technical analysis rather than fundamentals. Two books that I would suggest that are more comprehensive and easier to read are Toni Turner's book "A Beginner's Guide to Day Trading Online" and the best I have read so far by John Carter "Mastering the Trade".


7 of 9 people found the following review helpful:

Bad Book by an Excellent Author, 2006-03-19
Maybe "bad" is a bit harsh. David Nassar is a real and successful trader, and a guy who has years and years of experience training and managing highly successful traders to boot. He writes great articles for Active Trader and Futures magazines, and has written another book that I consider to be five-star outstanding.

But this book is disappointingly basic. It focuses on the mechanics of how trading is done and gives very little, if any, actual trading methodologies. A quick look at the table of contents and you will get the overview. It seemed to me like half the book was discussing how an order is placed!

Perhaps part of the problem is being outdated. Deciding how to route an order these days is a very insignificant factor in daytrading; the days of the SOES bandits are long, long gone. Broker's trading platforms now use smart routing technologies to get the best fill, and as a sharp trader you are using limit orders on stocks that have a 1 cent spread anyway. I suppose this was written back when you could take advantage of price differences between ECNs and Market Makers.

Your time is much better spent reading his other book, Rules of the Trade, where you can actually learn a few things and become inspired.

[...]


5 of 7 people found the following review helpful:

Awful!, 2005-12-30
Bought book, flipped through for 5 minutes, found good use starting a wood-fire. All the info contained here can be had for free on the internet. If you've been trading more then 2 days you already know more then the author of this book. Just plain awful!


11 of 11 people found the following review helpful:

You can make it using a simpler approach, 2005-11-16
I like some of the ideas presented by Mr. Nassar, however i think he needs to update his book and get a little bit more practical.

When you make a trade either your going to lose money or your going to make money, and some other times you will break even. When you win some body else will lose and so forth, but that's NOT what's important.

The most important aspect in day trading is the knowledge FILTER you employ to make your buy & sell decisions. There are many "fantastic" strategies outhere, but you need to test them in order to discover which ones help you the most.

Complicated strategies that rely on a "boat load" of technical indicators can make you slow, and being slow in this game can be as dangerous as not knowing what to do in the first place.

I think the worst thing that can happen to a beginner day trader is to get information overload. It's better to go step by step, and test a simple strategy that can show you how to focus on concrete ways to make money.

Fortunatly there are some good sites on the web today that can show you how to trade stocks in practical and effective ways. One of those sites is Stress Free Traders ( StressFreeTraders com )

In the end, stock investing & trading is all about buying and selling according to your knowledge FILTER. Once you master and follow youre proven filter parameters like a clock, you can expect to start making serious amounts of cash on a consistent basis.



4 of 6 people found the following review helpful:

Experience Comes Through, 2003-10-30
Awesome ideas to make money with. I have been trading 35 years and feel the ideas in this book are timeless techniques that I know work. The book was written with experience and it shows. I've read many and this is one of the best.

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