Getting Started in Online Day Trading

In this follow-up to her bestselling Getting Starting in Online Investing, Kassandra Bentley provides novices with a solid overview of the basics of online day trading. She introduces today's most successful practitioners and explains the methods they use to consistently come out ahead.

KASSANDRA BENTLEY is President of CyberInvest.com, an Internet company that aids online investors. In addition to the bestselling Getting Started in Online Investing, she is coauthor of Wall Street City and Cyber Investing: Cracking Wall Street with Your Personal Computer (both from Wiley).

Introduction The Day Trading Game

1

(5)

How This Book Is Structured

6

(3)

The Playing Fields: Nasdaq and the NYSE

9

(24)

Specialist versus Dealer Markets

9

(10)

The Changing of the Rules

19

(4)

The New Kids on the Block

23

(9)

Coming Up ...

32

(1)

The Tools of the Trade

33

(25)

The Multilevel Nasdaq Quotes

33

(8)

Interpreting Level 2

41

(2)

Understanding Orders

43

(3)

A Word About Short Selling

46

(1)

Executing a Trade with Level 2

47

(8)

New Rules for SuperSOES and SelectNet

55

(1)

More Nasdaq Changes on the Way?

56

(1)

Coming Up ...

57

(1)

Electronic Brokers: Cutting Out the Middleman

58

(32)

Web-based versus Electronic Brokers

59

(2)

The Blurring of the Lines

61

(3)

Selecting an Electronic Broker

64

(6)

Trading on Margin

70

(2)

Extended-Hours Trading

72

(3)

How to Open a Brokerage Account

75

(3)

Broker Profiles

78

(11)

Coming Up ...

89

(1)

Trading Software: The Day Trader's Control Panel

90

(15)

Anatomy of a Trading Platform

93

(7)

The Next-Generation Software

100

(2)

Questions to Ask About Trading Software

102

(2)

Coming Up ...

104

(1)

Define Your Trading Style

105

(38)

Styles to Consider

105

(11)

A Tale of Two Traders

116

(3)

What Will You Trade?

119

(17)

Stocks on the Move

136

(6)

Coming Up ...

142

(1)

Technical Analysis for the Technically Challenged

143

(30)

Start with a Chart

144

(5)

Looking for Patterns and Trends

149

(12)

Oscillators: The Leading Indicators

161

(7)

Technical Analysis U

168

(4)

Coming Up ...

172

(1)

When Greenspan Speaks, the Markets Listen

173

(16)

Watching the Economy

174

(2)

Watching the Markets

176

(6)

Watching Technical Trends

182

(2)

Watching the Market on TV

184

(2)

Watching the Market on the Net

186

(2)

Coming Up ...

188

(1)

The Right Stuff

189

(21)

Fear, Greed, and the Market

191

(4)

The Day Trader's Biggest Challenge

195

(2)

What Is the Right Stuff?

197

(9)

The Trading Coaches

206

(2)

Books on a Trader's Psychology

208

(1)

Coming Up ...

209

(1)

The Master Plan

210

(20)

The Mission Statement

212

(1)

The Study Plan: The College of Day Trading

213

(3)

The Risk Management Plan: How Will You Manage Your Money?

216

(5)

The Trading Plan: Plan Your Trades, Trade Your Plan

221

(2)

The Daily Plan: Premarket and Postmarket Routines

223

(2)

The Trading Journal: Recording Your Trades

225

(2)

The Getting Started Plan: Setting Up Shop

227

(2)

Coming Up ...

229

(1)

The Home Office: Setting Up Shop

230

(17)

Set Up Your Trading Station

232

(2)

Get a High-Speed Connection

234

(4)

Third-Party Data Feeds

238

(3)

The Wireless Connection

241

(4)

A Word About Taxes

245

(1)

Coming Up ...

246

(1)

The College of Day Trading

247

(16)

Stock Markets 101

248

(2)

Online and Offline Courses

250

(7)

Rooms, Boards, and Pits

257

(5)

Coming Up ...

262

(1)

The Future of Day Trading

263

(30)

The Transformation of the Stock Exchanges

263

(2)

The Transformation of ECNs

265

(1)

The Move Toward Globalization

265

(1)

The Arrival of Decimalization

266

(1)

More Leveling of the Playing Field

267

(2)

Appendixes

1. Where to Go for Help

269

(2)

2. Suggested Reading

271

(3)

3. Market Maker and ECN IDs

274

(2)

4. Web Site Addresses by Chapter

276

(10)

5. Web Site Addresses Master List

286

(7)

Notes

293

(4)

Glossary

297

(16)

Index

313

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Getting Started in Online Day Trading

Summary

Author Biography

Table of Contents

Supplemental Materials