Book Description
Learn the art and science of trading systems from professional speculators. The authors share powerful long and short trading strategies in TradeStation that span all time frames, including over one hundred annotated charts with commentary and rationale. The book contains a complete implementation of a professional trading platform, including dozens of TradeStation strategies, indicators, and functions -- with 64 pages of EasyLanguage code. Further, advanced trading techniques such as pair trading and float trading are explained. These systems are integrated into a fully automated framework for position sizing and trade management. Finally, follow the authors as they track their stock selections throughout the week in real time.
Professional Stock Trading is a practical blueprint for the entrepreneur who has the desire, ambition, and intensity to enter the trading business. In a scientific manner, a trader learns how to master the technical elements of the business and integrate them into a disciplined approach. The book ends with a full-scale implementation of a professional trading platform. Swing traders, day traders, and investors who aspire to a greater understanding of the stock market will welcome this book.
Customer Reviews:
Does the automated trading work?.......2007-10-17
Massachusetts district court has sentenced former hedge fund manager Mark R. Conway to seven years in prison and three years of supervised release for defrauding investors out of $20 million.
The court also ordered Conway to pay a $1,300 fine and $20 million in restitution. On October 23, 2006, Conway pled guilty to 13 counts of wire and mail fraud in connection with his scam. According to the SEC, the District Attorney's office has taken $15 million from Conway's bank accounts to be returned to the roughly 50 investors who put money into his bogus Groundswell Partners and Groundswell Capital investments.
The Commission based a large portion of its case against Conway on a tape-recorded phone conversation with Conway's Groundswell partner, Aaron Behle. During the October 26, 2005 conversation, Conway admitted to Behle that he had used the fund to defraud investors from roughly 2000 or 2001 to October 2005.
Conway also admitted that he had taken a sizeable position in a stock and lost a large amount of the fund's money, and that he had changed his investment strategy without notifying investors. The original investment strategy was purportedly based on quantitative and mathematical algorithms that capitalized on daily price movements in order to earn incremental positive daily returns.
In the course of the taped conversation, Conway also told Behle that he concealed the huge losses incurred by the fund by altering financial statements, profit-and-loss spreadsheets, and account statements to investors, which falsely inflated the amount of assets in investors' accounts. Conway falsely told investors that the fund's assets were at roughly $43 million, when they were closer to $14 million.
Because Conway's salary was based partly on annual 1% commission of the amount of assets under his management, which he fraudulently overstated, he also overcharged investors for his advisory services, charged the complaint.
To keep the fraud going, Conway also created a fictitious auditor, complete with a made-up email account, for the purpose of creating fraudulent auditing reports for the fund, stated the complaint.
The day after his taped conversation, Conway phoned the Commission's Boston District Office. He told a staffer that he wished to turn himself into SEC Enforcement the next day for an unspecified fraud that he had committed. But according to the regulator, Conway failed to appear at the Boston District Office.
As for Groundswell Partners and Groundswell Capital LP, the Commission obtained default judgments against both entities on June 30, 2006. The company was also ordered to pay disgorgement and prejudgment interest totaling more than $21 million. The court permanently enjoined Groundswell Partners from further violations of the federal securities laws.
Conway's sentencing is the end of just one of several actions taken by the Commission related to hedge fund fraud this year.
In May, the U.S. District Court in Boston enforced an asset freeze on hedge fund Lydia Capital and its two owners. The SEC had charged the defendants with defrauding over 60 clients who had invested approximately $34 million in the fund. In that case, the Court froze over $13 million in assets.
Earlier this year, a Georgia District Court fined an Atlanta-based hedge fund manager $20 million for his part in a fraudulent offering that bilked over 500 investors, including some professional football players, out of close to $185 million. At the time, the former hedge fund manager was already in jail on 23 counts of money laundering and 24 counts of mail and securities fraud.
Decent book on trading systems, however..........2007-09-30
This is not a bad book on trading systems, however, take it with a grain of salt considering the outcome of the authors' trading company - search the SEC website for the last names of the authors, or Google the names with "SEC" included in the search...
I have real reservations & concerns about this one..........2007-06-28
Despite the apparent sophistication of the many diverse trading strategies and systems introducted in this book, none of them seem to back-test well on historical data in TradeStation. By well; I mean any better than most simple moving average cross-over systems! So why bother paying $100 for the book and another $200 for the software CDROM?
I also emailed the author for help getting these sytems to work at all on FOREX. Theoretically, this should be doable by changing profit target and other stop variables. He returned my emails twice promising support but then I never heard from him again.
I'm left with the impression that these systems just don't work on either stocks or FOREX. Buyer beware.
Shop around.......2007-05-08
I have not yet read the book but quickly discovered a couple of things of which you might want to be aware. The software is "included" in that the last 60 or 70 pages (sorry...I have already packaged it for return) are source code. The software is not provided in an electronic format. You are referred to the author's website to purchase the software "pretyped". Figuring it would be worth it to avoid the typing and typos, I went to the website to discover that the software is $199 and the book is $99. Since Amazon listed the book new for $199 and used for around $180, I was slightly annoyed and will be attempting to return the book.
Bottom Line - price shop this!
Alright.......2007-03-28
Lets not get too excited. Not sure how much reading and technical analysis other readers have done, while I think some of the book is useful other parts of it seem to be a waste and pretty basic. It wasnt what I was looking for and the price seems way too high. Seems for whatever reason its out of print in the stores so the author and his company are selling it for a huge mark up. Didnt get the software and the code doesnt work the way it is written in the book, either out of date or needs to be updated TS code.
Unless you really want it, I would pass on this one at the price offered.
Amazon.com
Most of us have been conditioned to approach the stock market as a long-term proposition. Many of the bestselling investment books coach readers to seek value in the best companies for long periods of time. Day trading, a recent phenomenon brought on by the reform of the financial markets and by the growth of online trading, goes in just the opposite direction. Instead of buying and holding stocks for years, successful day traders make money by dipping in and out of the market in a matter of minutes, finding profit in the tiny fractions between the bid and asking price of a stock or by catching the ups and downs of stock prices, which are driven by everything including the latest news from CNBC or speculation on what Alan Greenspan ate for breakfast.
In The Electronic Day Trader, authors Marc Friedfertig and George West explain the rationale behind day trading and offer strategies that can help you become successful at this fast game of speculation and timing. The authors write, "Day trading appears so deceptively easy, yet in reality it is a never-ending challenge. It is a game, an opportunity to match wits against the majority and thereby prosper. Day trading the stock market is the ultimate opportunity to speculate and the ultimate game."
The book goes into great detail about how the various stock exchanges work and shows how to get direct access to the NASDAQ through various electronic trading systems. If you're looking for an investment book that will help you build a retirement portfolio, look elsewhere. But if the daily fluctuations in the price of a stock make your heart beat faster and if you're seriously interested in honing your skill as day trader or want to become one, The Electronic Day Trader is definitely worth a look. --Harry C. Edwards
Book Description
In 1998, McGraw-Hill’s The Electronic Day Trader became a worldwide phenomenon—and spent months on the Wall Street Journal, BusinessWeek, and New York Times bestseller lists. Now, this new paperback edition revisits the hardcover edition’s electronic day trading techniques and mechanics, and adds a new introduction discussing today’s evolving electronic day trading environment.
The Electronic Day Trader continues to give the reader a firsthand, no-holds-barred introduction to the world of electronic trading. The authors—accomplished veterans in this hot field—share trading philosophies and strategies that include:
• Workings of the various electronic order entry systems
• Effective trading techniques based on technical analysis
• All-important psychological aspects of day trading
Marc Friedfertig and George West (New York, NY) wrote Electronic Day Traders’ Secrets, and offer seminars on electronic day trading. Friedfertig is a registered principal for Broadway Trading. He formerly traded index futures with the New York Futures Exchange. West is the president of Broadway Consulting Group.
Customer Reviews:
Another book with old strategies, however...........2005-02-06
There are some good ideas that you can rescue from this book. Therefore I think you should buy it since you can make much more money and certainly recoup your small investment if you employ 2 o 3 good tips.
Any way, from my point of view a trader must always read as much as he can. There is simply no other way to prepare one self for this difficult yet incredibly rewarding activity, but to learn and put into practice as much ideas as you can, at least by paper trading first.
The are a lot of books on the subject, however many of them where written 2 o 4 years ago and that kind of makes them obsolete in this constantly changing field.
The internet offers great places where you can learn more specialized trading techniques. One of those places that I have found to be worthy is ProfitableStockmarket dotcom.
They focus mainly on momentum trading and employ a rather simple yet effective strategy. I think that for a trader to survive and be profitable, its neccessary to keep their trading as simple as possible. To much confussion and technical indicators will most of the time make you slow in your decisions and froze you up when a good opportunity is right in front of you.
In the end it's all about buying or selling with out hesitation, and doing it over an over again according to your set ups.
What became of Broadway Trading, LLC??.......2004-01-27
They went bankrupt, which is where you would be if you followed West and Friedfertig's methods. The book was a copy of Jack Schwager's Market Wizards series, due to the interviews conducted with "traders". You would be amazed if you saw some of these people and didnt read their words in print. Somehow they would not come off so sharp. Trust me!
Also do you think our authors would be able to spot "managerial talent" over a few aspiring proprietory traders? No they hire guys who have previously filed bankruptcy in their past and pipe up their accomplishments, which are a joke when you realized they bailed on creditors!!
Save yourself a dime and avoid it-if someone gives it to you, and you can't return it, use to start the BBQ grill. I could go on and on about SEC/NASD violation, getting short on a downtick, etc but I wont!
Obsolete.......2003-06-28
This book completely fails to realistically convey the relative risks and profit potential for the average wannabe day trader. Im talking about someone with less than a few thousand to play the market. Unless you have big bucks and Level II quotes forget day trading unless you are very lucky. In the trading parlance, I wish I had a short position on this book at its current price, and could cover my short at the current used price! Save your money.
good.......2001-07-11
good book , nice condition
essentially obsolete.......2001-05-07
This book is essentially obsolete just three years after its publication. Stocks are now traded in decimals, and the spreads on heavily traded stocks are now almost nonexistent, sometimes being less than one cent a share. Consequently, you can forget about any of the strategies or information regarding "pocketing the spread", "getting between the spread", etc. With the proliferation of ECN trading, the influence of the market makers in a stock has been markedly reduced. In a stock that trades 80 million shares per day, a market maker with a 100,000 share block is not going to be able to move the stock significantly, and ECN trading can overwhelm his influence. Likewise, information gleaned from the Level II screen, while still useful if one knows what to look for, is no longer the Holy Grail. Also, day trading firms, like the authors' "Broadway Trading" are on the way to extinction, now that some big online brokers offer direct-access trades for less than a quarter of what day trading firms charge, as well as offering free Level II quotes and other information not available to the day trading firms.
While the book contains a few nuggets of trading info, it was not written in a logical, easy to follow manner. As has always been the case, aspiring traders need to study the markets intensely and develop their own trading techniques; they cannot expect that any book will teach them how to be successful in a field where very few people ever succeed.
Average customer rating:
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Electronic Trading: A Practical Handbook (Computerweekly Professional Series)
Pete Gardner
Manufacturer: Butterworth-Heinemann
ProductGroup: Book
Binding: Paperback
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ASIN: 0750619058 |
Book Description
This totally mechanical system is based on shrewd commodity selection and timing. Earn 200% or more every year trading the professional way.
Customer Reviews:
Charlatans of the stock market.......2006-02-15
Spare us your suicide tactics WILL YOU??? Tell the truth for once WILL YOU?? About your getting kicked out (sued) of half the states in the union for your reckless tactics... And your damned suicide tactics of telling people to go ON MARGIN and lose their cash twice as fast with your damned stupid reckless ideas...
Every broker on this planet laughs your foolishness out of the building!
What next??
Why don't you restore ALL THE PEOPLE YOU MAIMED WITH YOUR TACTICS???
AAAA+ Great Book WADE. I fired my boss, Thanks WADE!.......2005-10-04
The fact is, you can create a great income by using Wade Cook's winning strategies. The stock market will always be around. How is your company doing? Do you feel safe? I didn't. that is why I left.
[...] The only problem is that they are copycats and all they know is what they stole from Wade Cook. As a result, they will always be playing catch-up. Prior to 1995, who else was talking and teaching covered calls, stock splits, buy the option as a play in itself instead of the usual way and so on? Answer: NO ONE!
And if you want the facts about Wade, go to his website wadecook.org. To paraphrase what a famous man once said; "The rumors of Wade Cook's demise have been great exaggerated."
You may not enjoy the same success that I and others have had, or you may do even better. The greatest testimentof Wade's techniques lies in the fact that I have several friends who lost their homes in New Orleans and other parts of the southeast, moved but are still generating income from the stock market by using Wade's techniques. Meanwhile others, less fortunate, lost their homes and their income.
[...]
Powerful strategies to cash flow the stock market.......2005-10-04
The first time I heard about Wade Cook was at a real estate seminar that I attended in Florida many years ago. Cook was a guest speaker and was disclosing his techniques on how to cash flow real estate. I tried his techniques in concert with other strategies that I picked up from that seminar and some other books like Robert Allen's Nothing Down and flipped a no money down deal in a month and made a nice $10,000 profit.
Many years later, 1997 to be exact, I was browsing a bookstore in Orlando, Fl and came across this book by Wade Cook. To be blunt, trading in the stock market scared me. Up to that point, I had been only a mutual fund investor and felt that individual stocks were only for the extremely sophisticated who could watch the market every day, all day long.
But this was a book written by Wade Cook. I remembered him fromt hat real estate seminar and I remembered how effective his techniques worked for me. And he was talking stock market strategies that were very similiar to what he taught in his real estate programs. So I bought the book.
Boy was I nervious. My first play was a 3/2 stock split play on a bank stock. I invested $250 on only one contract (last of the big spenders huh?) Three weeks later, post-split that option was now worth $1500! Do the math and figure out that rate of return.
Next I bought a railroad stock that was doing a 3/1 split. I made $4,000 in three weeks!
Then I invested in Schwab and Wade Cook's stock, both of which were doing stock splits at the same time. Again, I averaged 1,000%+ returns in weeks!
Then I bought into a drilling company that was also doing a 3/1 stock split. You guessed it! I bought the options post split this time. The stock ran from $25 to $40 in a month. One mistake I made with this play was that I held on too long as the stock started to pull back. But I still sold at a nice profit.
So I was sold, sold, sold on Wade Cook. My best play was on Amazon.com (AMZN) I made $7,000 in three days on a 3/1 for stock split. My $15 options soared to $8,500! I felt like I had the Midas Touch and was on cloud nine!
Later I played DELL and LUCENT and made in some cases $1,000 a day on stock splits using options and having very little money tied up.
On the other hand, I knew people who were losing money on stocks like IOM, CPQ, NOVL and others. My mutual funds were still doing well too. The fund I bought @ $7 was now up to nearly $45. So I knew that there was something other than luck in play here.
What impressed me about Wade was his constant beating that the stock market is very risky. To paper trade first and start with small amounts of money and only with play money, don't use retirement money or rent.mortgage or food money.
His strategies still are working for me today. And speaking of the strategies, they really are nothing new. Many investors knew about stock splits, option plays, covered calls and so on. Wade Cook just refined and fine tuned the strategies and delivered them to the masses while others kept this to themselves.
Aside from stock splits, I have also done well with the covered call strategy as well. A great way to generate cash flow from your stocks. Rolling stocks have also made money for me. But caution, these you have to get in and out of very quickly. The section 29 tax credit stocks were also a great strategy when they were offering tax credits and pay butt killer dividends. Great for your IRA, but you have to be careful with these as well and any stock for that matter.
I would recommend Wade's newer books which have updated strategies for the times such as Wall Street Money Machine Vol. I, III, III, IV, V and VI and Wade's newest book Stock Market Money Machine. And of course I also recommend Wades real estate book Real Estate Money Machine.
If this book is so great whay all of the negative reviews? In my opinion, there are a couple of reasons:
1) Some people who know these strategies work are afraid that if
the masses find out, they will lose their effectiveness. In
other words, they want to make money and the heck with you.
2) Many of these people are Wade Cook imitators and in many
cases, former employees of Wade Cook.
3) Some are stock brokers who prefer that you pay them a comm
for their brilliant advice which has your portfolio bleeding
RED!
4) Discount brokers in particular don't like Wade Cook because
he recommends full service brokers and explains why a full
service broker can make you more money and actually cost you
less in the long term.
Funny thing I noticed............2005-10-02
I was doing some independent research on WADE COOK. I had heard about him from a friend who is making some OBSCENE MONEY in the stock market with WADE COOK'S TECHNIQUES. So before I came here, I did a google on Wade and read all of the negative fluff against the man. Guess what else I found? Every supposedly negative complaint against WADE COOK was a website which also sold products similiar to what Mr. Cook sells. They were selling seminars and after bashing Wade Cook they conveniently sell you on the idea that if you want something that works, CLICK HERE and you'll get the information you need. Who is this guy trying to kid? Does he think we just fell off the tulip truck?
Two of the websites I checked had links to brokerage firms! HELLO!!!!
All of the negative complaints were listed as "anynomous" or R.K. or something else. In other words, they were creating their own negative stories against Wade Cook. Isn't it obvious what these clowns and flat out liars are trying to do? It sure is obvious to me.
Well I don't know about you, but they made me even more positive about Wade Cook and even more negative about them.
Don't listen to those 1 star stock brokers.......2005-10-02
Doesn't it seem just a little funyy that people are still giving this great classic by Wade Cook a 1 star, bash him and still insist that cook went bankrupt and is no longer in business?
(...)
This one tells the truth about what Wade Cook is really doing now. That other websites sends you to another website which leads you to investing seminars by one of Wade's competitors.
Regarding stock market investing, it is a very risky business. there are no guarantees. You don't see these same 1 star reviewers (really just one person reposting over and over and over and over. Gary Walls no doubt. Ask Mr. Walls why his tabloid website which mercilously attacked Wade Cook and was filled with lies got shut down) Notice that this same 1 star reviewer never wants to talk about all the crimes occurring on wall street. How many brokers and mutual fund managers have been busted?
Brokers don't want you to read this book either. Then want you to go to them for their expertise. The fact is the reason these guys are called brokers is because they make your accounts get broker! Discount brokers in particular are very nervious about Wade. These guys are hanging on to their job's by a thread as it is and along comes Wade Cook teaching people that you can save and make more money by using a full service broker. It's sort of like getting better nourishment from a restaurant that carefully prepares a meal for you (full service)as opposed to a fast food restaurant (discounted) where it appears to cost less, but????
I am sure that the 1 star hysteria will continue and I am sure that the deleting of five star reviews like this one will also continue. And I am sure that tabloid like websites like Gary Walls now defunct website will continue. As long as some people like to read garbage, parasites like Gary Walls (now using another name and not surprisingly going after another best selling author) will continue.
My question is, what good does it do? Wade Cook is still around and strong. The other best selling author has gone far beyond what Wade Cook has ever done and he is getting bigger, bigger, bigger and bigger.
This 1 star reviewer should stick to using Wade's advice (successful investors have been applying Wade Cook-like techniques for years, long before they became fashionable), read and assimiliate Wade Cook's advice and strategies, forget the tabloid websites and then he will start making some serious money and maybe even for at least once in his, feel good about himself and do something good for mankink.
Product Description
3 WADE COOK Books - 1) - Wall Street Money Machine: New Incredible Strategies for Cash Flow and Wealth Enhancement / 2) - Stock Market Miracles: Even More Miraculous Strategies Cash Flow Wealth Enhancement / 3) - Bear Market Baloney - (Unboxed Set), in either Hard or Softcover, (See Seller Condition Comments), Shipped in one package to save on shipping costs.
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