Day Trade Online (Wiley Audio)

Rating:
Summary: BE CAREFUL
Review: Well, I have been trying the method for four weeks now and my total net profit is $143.50. I believe it can work, but in today's marketplace it is very difficult. Things happen that are not described in the book. For instance, once you purchase a security for say, 6 1/2 (a sixteenth above the bid) and turn around to try to sell it for 6 9/16, you watch the spread change to 6 7/16 to 6 1/2. Bammm. I have lost hundreds of dollars this way. Also, one "loss" is a minimum of $145.00 and more likely much more. If you are impatient you can lose $1,000 or more. It has taken me quite a few "wins" to make up for one loss. Sometimes the trades work exactly as described in the book. Four minutes and I make $104. Most of the time, however, I am stuck in a trade ALL DAY to try to just break even. You can only do one or maybe two trades at a time unless you have a lot of money. The most I made in one day of trading was $220. Also, contrary to what Farrell says in the book, market conditions play a very BIG part in this kind of trading. Look at the utility sector last week and tell me it doesn't. Overall, I think the method works in an "up" market with good volume. Doesn't work so well in sideways or down market with medium or low volume. If you try this method, just be careful.

Rating:
Summary: Old info badly written
Review: While some of this material may have had meaning at one time very little of it actually applies to internet trading at this time. What little information is in the book, both current and out of date, is written so reduntantly that it is the perfect cure for insomnia.

Rating:
Summary: Overall, a powerful book
Review: With the advent of decimalization, the technique Farrell uses no longer works anymore, not for him and not for anyone!! It was a great idea for a while but Wall Street put a stop to it because Day Traders were taking too much of their money. Don't waste your money buying this book!!!! It should not even be allowed to be sold!!!