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With chestnuts such as "Flexibility is a key to successful day trading" and "Controlling your losses is key to not digging yourself into a hole," the book may ring hollow to those seasoned in the art of speculation (consider Edwin Lefevre's classic Reminiscences of a Stock Operator, instead). But if you're looking for a major course correction to your current day-trading tack, you should find useful guidance here.
However, those uninitiated to day trading should watch for sandbars. This book dangles the possibility of lucrative careers for successful day traders, which for many is simply an oxymoron: matching wits with Wall Street's best (not to mention these guys) can be the quickest way to the poorhouse. But if you fit the profile above, have money to burn, want a fast and exciting career, or are just simply curious, Electronic Day Trader's Secrets is a tantalizing glimpse into what interviewee Jim Shaw describes as "the church of what's happening now." --Harry C. Edwards
Featuring interviews with some of the best electronic traders active today, the book starts with a chapter by the authors detailing the phenomenal success and interest in electronic trading. The heart of the book features fast-paced interviews with more than 15 of the best traders in the business, including Serge Milman, who was the cover story on the April 6, 1998, issue of Forbes. The traders interviewed are some of the hottest and most successful traders in this new, extremely exciting area of trading and investing: one trader who will be interviewed made $80,000 in a single day. The interviews will detail their road to success, their thoughts on what you need to be a successful trader in the electronic area, and tips and strategies for successfully profiting in this lightning fast market. The authors round out the book with another hands-on chapter discussing their own insights into how to be successful in this explosive field. Their insights are based not only on training and watching successful traders but also seeing traders fail and understanding why those traders failed.