TraderEdge

Hey Traders,

Has anyone read a book called Day Trade Online, 2nd Edition by Chris Farrell? If so, does he get in depth about the bid/ask spread and how to trade it?

Thanks.

Shootanappleoffmyhead

Hey TE,

Yes, I've heard of it but never read it. What specifically about the spread do you feel would help you improve as a trader?

Shoot.

__________________
Memoirs of a Day Trader by Shoot ~~~~~~> The Pro Course

TraderEdge

There are specific ways the specialists at the NYSE construct the spread in which they can take 10-15 cts out a stock. From his interview at traderinterviews.com
Former Market Maker Turned Trader Tells All
he slightly talks about this and was wondering if he actually describes his method in his book. It fits with my scalper mentality. There aren't that many books on scalping just figured it could help.

TraderEdge

Finished the book - easy read. Found him to dupilicate everything he said. Book is basically exploiting the bid and ask (or making money off the spread). May be out-dated since algos have come into the picture. Not sure if its as easy as 2008 when he writes, but will keep you updated. Trying to find stocks in which to do this, but haven't find any. GOOG obv. has a spread, but too much risk there. He focuses his method on NYSE stocks. I do recommend it for the newbie who wants to get a general idea about the functioning of the market place.