Rating: 
Summary: Might have been a good book but now obsolete
Review: A few ideas in this book that aren't in other books. Unfortunately, the market system changed significantly since. NYSE shares can trade off the floor. There's before market and after market trading. Decimalization also is a major change. Some of the ideas are still useful in today's market so it might be worth a read just for that. But to blindly follow the advice here and assuming you can make a living on it is a receipt for disaster.Author mentioned it isn't uncommon for a trader to make 100% returns in one year and compares it with the market doing 20% in a good year. HHHmmm...100% is halved because he mentions using using 100% margin. Even without the leverage, the risk isn't the same as buying and holding a portfolio of stocks. Author understates the risks involved in his strategy--the downside risk in buying for the 1/16 is still the price of the entire investment--bad things can happen even to low volitility stock when the broader market tumbles--the downside risk certainly is not just 1/16 mentioned in the book. Plus 20% is a _good_ return on the market but certainly not the best--returns of 40% isn't that rare and if you're speaking of picking 10 or so stocks, returns of 50% isn't that uncommon. In any case, the idea is to make day trading a part time or full time job. If that's the objective, you need to average the returns out and only the amount of money you make in excess of buying and holding an inexpensive no-load mutual fund should be considered your average return for your work. Not too many people have that much risk capital to make that work--the only reasonable option seems to be to start a hedge fund like the author did and charge the client for managing money. But a lay person probably won't attract too many clients because of zero professional trading experience factor--the author was a professional trader at a few major firms. The author's own hedge fund only did 65% in the first year. I wonder how well he's doing now?
Rating: 
Summary: Noone ever made me angrier!
Review: A pamphlet would have accomplished what this guy said in the entire book! I wanted to strangle him! Repetitive, condescending, overly simplified and so BOOOoorrring!!! Here is the nuts of it all: Pick a stable stock with a narrow spread between bid and ask. Buy 2000 shares and then sell it 1/16 higher right away. Everything else is simply preamble... over and over and over. Hope I saved you 20 bucks.
Rating:
Summary: Noone ever made me angrier!
Review: A pamphlet would have accomplished what this guy said in the entire book! I wanted to strangle him! Repetitive, condescending, overly simplified and so BOOOoorrring!!! Here is the nuts of it all: Pick a stable stock with a narrow spread between bid and ask. Buy 2000 shares and then sell it 1/16 higher right away. Everything else is simply preamble... over and over and over. Hope I saved you 20 bucks.
Rating: 
Summary: Contact DFLovell@prodigy.net
Review: Articulate and essential information - for anyone starting out to trade - on the bid ask spread, role of specialist and market makers and how to make teenies in non-volatile stocks. Even if a bit repetitive Mr. Farrell has taken the trouble of writing a very clear/explicit description of what is an essential foundation to trading whether you use his particular teenies grabbing technique or not. Its allowes an understanding of more complex/subtle strategies outlined in other books that might otherwise easily lose one. The book would have benefited from more practical defense details in the event the trade starts moving against the trader with a build up of offers, which will occur at times even in low volatility stocks given the time it can take to get filled. Over a 7 day period and a $6000 account. I had 15 winners 5 losses and 2 draws. Only problem is that two of the losses were heavy; Trying to chase down and sell a falling stock towards the close (which had been been static till then) with limit orders doesnt cut it. Only a Mkt order will work. Also very frustrating to be clearly in first postion to be filled, getting partially filled, and then see others comming on board and getting filled in front of you. Clearly with a larger account and several positions at a time there should be less boredom and greater profitability.
Rating: 
Summary: explosive material - follow the smart money
Review: as a quantitative analyst for a medium sized wall street brokerage firm, I felt inclined to throw my two cents in on this book - the strategy that this book details has been used on Wall Street for decades - there are trading desks on wall street who employ traders at several hundred thousand dollars per year to do the exact strategies that Farrell's book outlines - look at places like Goldman, DLJ, Prudential - for any reader to say that these strategies don't work is completely off the mark - just remember that if you are losing money, the person that took the other side of your trade made money.... i back-tested these strategies going back to 1997 on about 300 issues and found that there is a direct correlation between the interest rate environment, trading volume, and the profitability of the strategies Farrell outlines - conclusion: you will have made a TON of money doing this strategies in low volatility stocks over the last 3 years particularly in times when the interest rate scenerio was stable to declining - if you are a get rich quick kind of person, this book is not for you - if you have patience and discipline, and follow the rules, you will make money using these strategies just as the specialist and wall street trading desks do -
Rating:
Summary: ''Excellent Primer''
Review: Even though this book might be dated(1999) it contains excellent ideas on day trading and tells about the author strategies on pecking away at the Specialist & Market Makers. It's very simple read,It tell's you to stick to a game plan to keep your profits ahead. Good Read
Rating:
Summary: Learned Alot About The NYSE
Review: get this book is you want to learn how the markets really work - i first bought Farrell's book when it came out in Russian - this one is the first of Farrell's 2 books on trading and it was written prior to 2001 at a time when the NYSE traded in fractions - much of the material in this book is very much relevant in the year 2003 - the reality is that the NYSE floor traders are still in the business of trading against you and me - what this book teaches in vivid detail is how they do it and how to turn that to your advantage by buying and selling with them, not against them - the author teaches that in bull or bear market, wall street always makes money at the expense of the investing public -
Rating:
Summary: NYSE All the Way!
Review: I am a fan and follower of Chris Farrell's NYSE trading strategies - this book, to sum it up, is a guide to anticipating and exploiting temporary supply and demand imbalances in NYSE listed stocks - Farrell terms the strategy "scalping" - the author was pounding the table back in summer 1999 when this book first came out saying that the NYSE is a better market to trade than NASDAQ and that traders should stay away from trading NASDAQ stocks because the order handling rules are less fair than the NYSE - he is still saying that now in 2002 - those that have listened to that advice have fared very well -
Rating:
Summary: Excellent book for the novice trader
Review: I found this book to be well written, informative and a fantastic introduction to the world of day trading. I did not find it to be repetitive at all, in fact the author does a fantastic job of ensuring that you understand the principles he is explaining. I thought day trading was all about trading volatile NASDAQ stocks and was more gambling than trading and there wasno money anywhere else. I was very impressed with the techniques and guidance. I haven't tried trading yet but I have gained an excellent understanding of his approach and method. Who ever thinks the book is a waste of time is either a hot shot gambler that has lost more money than he's made or doesn't like a low risk strategy that helps you make your money slowly. This is not a get rich quick thing it is a business plan...a strategy. Thanks for a great book. .............
Rating:
Summary: Might have been a good book but now obsolete
Review: This book is based on the authors opinions instead of a book that gives crucial innformation. No technical analysis help and barely any fundamental help. Horrible book
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