By Christopher A. Farrell
With fortunes made - and misplaced - within the blink of a watch, on-line day buying and selling has turn into the modem identical of the California Gold Rush. And, like such a lot of of the intrepid yet unprepared souls who set out at the path West, so much starting day investors are woefully ill-equipped for the demanding situations they're going to come upon. As a hugely winning hedge fund supervisor, writer Christopher Farrell has the adventure to aid readers make experience of this interesting yet risky enviornment. He instils a deep figuring out of day buying and selling as highbrow strive against, pitting traders opposed to associations and every different on an digital battlefield. in actual fact and carefully, Farrell maps out the hazards, offering recommendations and revealing dozens of insider secrets and techniques for popping out on most sensible, permitting someone to develop into a extra winning day dealer.
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Extra resources for The Day Trader's Survival Guide: How to Be Consistently Profitable in Short-Term Markets
50 ] The Day Trader's Survival Guide The Online Brokers Are in the Business of Trading Against Their Customers So if getting you the best execution is not always the online broker's top priority, what is? It is making Yt6th, Vsth, or 'l4 point on your trade! That is the sole reason for many of these firms being in business. In other words, they are in the business of capturing the spread. As you will learn in this chapter, the cheap cost of the trade commissions that the online brokers offer is nothing more than a gimmick.
In other words, they are in the business of capturing the spread. As you will learn in this chapter, the cheap cost of the trade commissions that the online brokers offer is nothing more than a gimmick. If you need evidence of this, look at those online brokers who now offer free trades to some customers. Free trades! They do not make their money on the trade commission, they make it by taking the other side of your trade. Unfortunately, as much as technological advances have altered the landscape of Wall Street, some things never change.
Thin stocks are characterized by a combination of wide bid-ask spreads, a tiny amount of stock for sale at all times, and only a handful of market makers. The thinner the stock, the fewer market participants involved. The fewer market participants, the more inefficient the stock. The more inefficient the stock, the easier it is for the day trader to exploit it for profit. It is very important for the day trader to have a firm grasp of the mechanics behind the price movement of a thin stock versus that of a thick stock.