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The basic premise of this book is how to trade for the "Teenie", or a fraction of a point in the bid/ask spread. If you are a beginner, you may have no idea what that means, and that's ok... you don't have to.
The good news is that the author does an EXCELLENT job of explaining the workings of the bid/ask spread, the role of the Market Maker/Specialist in making the market work and how a day trader can use many trades a day to "scalp" money at very low risk.
The bad news is that this is an early 2000's era book, from back in the days before decimals replaced the fractions that are used in the book. A "Teenie" in the day the book was written was 6.25 cents... now trading is done in actual cents, and the bid/ask spread is often as low as a penny... meaning it is a whole different ball game. Money can still be made, but not just by following this book's formula.
Also, the author of this book had only been trading as a day trader for only two years when it was written, and that was a time of the great tech bubble.
Pros: Excellent basic information about the stock market and a stellar explanation of the workings of the bid/ask spread. Well narrated, clearly written and easily listen-able.
Cons: The book is designed as a step-by-step how-to guide, which may well have worked when it was published... but now that information is quite dated.
38 of 39 people found this review helpful
What made the experience of listening to Day Trade Online the most enjoyable?
A pretty good explanation of how the market works. Written in an accessible way that's pretty entertaining for the subject matter.
What was one of the most memorable moments of Day Trade Online?
Discussion of the market specialist.
What does Jeff Woodman bring to the story that you wouldn’t experience if you just read the book?
Verbal inflection that makes the experience more like listening to an enthusiastic friend.
If you were to make a film of this book, what would be the tag line be?
the secrets behind the market.
Any additional comments?
This book is not a 'How to' even though the first few paragraphs suggest that it is. Readers will learn about how the market works and the general scope of trading but little is revealed regarding the mechanics of making good trades. Recommended.
3 of 3 people found this review helpful
This book is about doing manual arbitrage of the bid-ask spread on equities. I don't know if this worked in 2000 when it was written, but I'd be very surprised if it were still a workable strategy in 2018 with computers doing the same thing in nanoseconds.
Christopher A. Farrell is one of the best and brightest in the currency field. His new audiobook is definitely a must for all new traders. Narrated by Jeff Woodman in a way that is easy to understand and with lots of examples. Great book to get started in online trading.
0 of 1 people found this review helpful
If this book wasn’t for you, who do you think might enjoy it more?
Loved the book, but then realised it was obsolete. Purchased the newer version, only to find it a readable book not audible. Very disappointing. A book like this should be the latest edition.
What will your next listen be?
Provide the newest edition and make sure the information is still relevant.
Any additional comments?
Otherwise, really great easy to listen book.
I like the story telling and insights that the author presented. I learnt a lot.
Unlike many other books the author does offer a strategy. (Not exactly a super in depth one)
Read this if you want a fun interesting read and learn something you have most likely not understood properly before.