Mastering Direct Access Fundamentals

Electronic direct access trading (E-DAT) lets independent traders join seasoned professionals in the fast-action, high-profit world of instant access trading. But before you enter that world, you must master a dynamically different set of fundamental skills and become comfortable with the streaming numbers, colors, and symbols of the Nasdaq level II screen.

Mastering Direct Access Fundamentals is a Master's level course on the techniques, terminology, and resources needed to understand and control E-DAT. Pioneering traders and trainers Jonathan Aspatore and Dan Bress­­along with a host of other battle-wise direct access traders­­give you everything you need for E-DAT success, including:

• Guidelines for developing a successful trading strategy
• Proven methods to effectively utilize real-time news and indicators
• Technical analysis ground rules every direct access trader needs to know

The Direct Access Traders Series shows you how to harness the power of today's financial technologies­­whether you make 2 trades per year or 2000. Other books in the series include:

• Understanding Direct Access Trading
• Tools for the Direct Access Trader
• Direct Access Execution
• Trading Strategies for Direct Access Trading
• Technical Analysis for Direct Access Trading

"This book will discuss trading expectations, developing a trading strategy, basic analysis, interpreting real-time news and indicators, and trading for a living. Each chapter contains information for every type of direct access trader.... Direct access trading is not difficult if you have the right expectations and devote the proper amount of time to it."

You can become a successful electronic direct access trader...but it won't happen overnight. Mastering Direct Access Fundamentals covers the fundamental knowledge and skills you must develop before you can take full, profitable advantage of E-DAT opportunities­­while sidestepping common but career-killing trading mistakes.

Complete with symbols, terms, worksheets, and directions for finding and downloading valuable simulation devices, Mastering Direct Access Fundamentals shows you how to ease into direct access trading­­and learn the fundamentals before you "go live" and place real money on the line. Turn to any page in this hands-on E-DAT manual to discover:

• The tools you need­­from DSL lines and Level II screens to ECNs, news services, and others
• Essential Web sites and chatrooms for learning about new techniques and fast-breaking trading opportunities
• How to use technical analysis indicators, including chart patterns, support and resistance lines, and reversals
• Methods to detect market makers, understand their strategies, and profit from anticipating their moves and getting there first
• Which stocks to trade­­and which to avoid­­to control trading risk

Electronic direct access trading is substantially different­­with more excitement and quick-turnaround profit potential­­than any other type of trading or investing. Let Mastering Direct Access Fundamentals tell you everything you need to know to begin trading, and show you how to build a part- or full-time career as a fast, knowledgeable electronic direct access trader.

Contents

Chapter 1: What This Book will Do For You.

Chapter 2: Expectations.

Chapter 3: Developing a Trading Strategy.

Chapter 4: Interpreting Real-Time News and Indicators.

Chapter 5: Basic Analysis.

Chapter 6: Trading for a Living.

Chapter 7: Questions and Answers.