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.
Preface
Acknowledgments
Introduction - Swimming with the Sharks
SECTION I: The World of the Day Trader
1. The Baptism by Fire: Preparing the Uninitiated for Their First Trade
2. The Golden Age of Internet Day Trading
SECTION II: Introduction to Day Trading
3. Trading 101: The Mind-Set of an Online Day Trader
4. The Day Trader's Arsenal: Choosing and Using Online Brokers, Real-Time Quote Systems, and the Home Office
5. Considerations For Quitting Your Job and Trading for a Living
SECTION III: How to Beat Wall Street at Its Own Game
6. Price Takers versus Price Makers
7. The Day Trader's Crystal Ball: Understanding the Bid-Ask Spread
8. The Role of the Specialist on the New York Stock Exchange
SECTION IV: Trading for Teenies: Taking Food out of the Specialist's Mouth
9. The Day Trader's Secret Weapon: Exploiting the Bid-Ask Spread
10. Prospecting for Gold in the Land of 1/16s
SECTION V: Trading the Momentum - Dow Stocks, NASDAQ, and Event-driven Trading
11. The Momentum Game
12. Riding the Market's Momentum
13. A Day Trader's Ticket to the Poorhouse: How I Managed to Lose $12,000 in Less than 24 Hours
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