Rating: 
Summary: One of the best books on day trading...
Review: Most who attempt day trading fail because they underestimate the learning curve, both in terms of the knowledge and capital it takes to succeed. The UndergroundTrader.com Guide to Electronic Trading, is recommended to those with at least some day trading experience, who are determined to survive the learning curve. Author Jea Yu is co-founder of UndergroundTrader.com, a popular Web site for day traders. "The secret to successful trading" he says, "is to know what to do when certain prices occur, and to let go of belief and prediction in order to focus more clearly on what is actually happening in the market."The book's themes are the necessity for precise, objective methods of identifying and managing trades, the requirement for discipline, the importance of money management, and the powerful psychological factors that lead traders into self-defeating behavior. Charting indicators and studies such as moving averages, stochastics, and Fibonacci pivot points are detailed and illustrated, and the author does a superlative job of explaining the nuances of reading the Nasdaq Level 2 screen and how to track the ax and significant market makers. Execution methods and order routing are covered, as are as ways to exit trades in fast markets. Two days in the life of author-trader Yu are detailed minute-by-minute, trade-by-trade - and this section demonstrates and ties together the principles and techniques presented throughout the book. Roll up your sleeves, for you will likely find this one of the best books on how to day trade with success.
Rating: 
Summary: A Reference manual for their web site
Review: Must of what this book did for me was to open my eyes to a lot of concepts I did not have. The book is a good explanation of what it is done daily at their web site. If you are planning to start day trading this a good book to read. A lot of pages spent trying to explain level II and the market makers. Another good part of the book explaining the stochastics, but the parameters mentioned in the book to setup the graphs were not the parameters used at their web site. You wont know the parameters until you're a paid subscriber to the web site. The best chapter is probably the apendix where the 3PB method and target trading is described.
Rating: 
Summary: Website promotion
Review: No real value in this book. The chat service is horrible. Everyone is losing money there. Buy Oliver Velez and Greg Capra book, Tools and Tactics for the Master Daytrader, and subscribe to their services. They have over 65,000 members world wide. That tells ypou something. Obviously when you have that many members, most of them make money or they would have left, wouldn't they? Compare that to the 400 members of Jea Yu site. do you see what I am talking about? Pristine is the only way to go.
Rating:
Summary: Book+Video+Chat+Practice=$
Review: Read the book twice. Jay says in 200 pages what it takes others 500 pages to say. Its cut to the chase baby. If you want straight talk, thats that fact jack, then this is the book. Add the video and join the chat service (Jay is a coach, like Bobby Knight, if your screwing up he lets you know about it!!) and you might have a chance to succeed. Face it, no matter what system you choose, most daytraders fail, Jay provides simple yet effective methods for scalping or swinging intra-day but you must follow them, get greedy or loose focus and your toast. I have only been a chat subscriber a short while, but he has honed my skills, helped me to stay focused and learn the techniques. As far as the daily calls on the website, I've seen them all called live and they are real. However,I dont take those trades unless I know the stock. Thats one of his techniques. Your basket stock, pick one stock and learn that sucker forwards and backwards and quess what, it becomes your personal ATM machine, yea baby$ Stray from your basket and quess what, ya go home red.
Rating:
Summary: Ronold Davis
Review: Readers beware: You did not indicate whether you are a swing trader or day trader. From a DAY TRADING perspective, this book in my opinion truly fits the bill. The author pointed out that there are many different type of technical analysis indicators, and he is using one overbought/oversold indicator plus one trending indicator (5/15 SMA), because day trading requires decision making in a few seconds, extensive indicators makes such decision making impossible. His trading style is completely intraday, more or less a scalping type of trading, he doesn't take overnight positions, the BEST time to day trade is without a doubt opening and close, any arguments vs. above, you simply haven't been day trading. Classic day trading feasts upon volatility, and there is no way you can day trade without volatility. The higher the volume and volatility, the easier it is to trade. I recently started my adventure at a NYSE day trading firm on Wall Street. There are dozens of trading styles that will make you money, this is one of them. I had to make numerous changes (mostly Level II -> NYSE tape) to the system presented in this book. The average time span for a new trader to pick up his first check at this firm is six months, most of them lose 7-10K before turning things around and become profitable, from there, traders at this firm make money. No book, not even this one, will remove the learning curve. I am there one month and I lost $2300, but I lost less than just about everyone who started with me, and the stochastic scalp techniques presented in this book work wonders. That said, day trading is a tough business, and the NYSE specialists are criminals, this book did more for me than any other . . . If you are interested, you can follow my progress at MSN Money Supermodel Message Board, thread Hit List Journal . . .
Rating:
Summary: Save your money
Review: Save your money, this book was writen for the dart throwing era of 98-99 and is worthless in a sideways or bear market. It's the same old story, those who can trade do, and those that can't write books.
Rating:
Summary: Simply the best book about successfully daytrading
Review: There are a lot of books out there about daytrading. This is the one you need. Jea Yu (known as Jay in the undergroundtrader.com Trading Pit) provides the tools every trader needs, along with the secrets no one else is going to tell you. If you want to daytrade, read this book. It costs less than you'd pay for a single round trip commission on most trades. It's your money.
Rating:
Summary: THE ONLY REAL GUIDE TO MARKET SHENANIGANS
Review: There are many books on trading that suggest that a combination of psychotherapy and technical analysis provide the key to the bank. This is the only one I have come across that describes in detail the many and varied ruses used by market professionals to deceive/terrify/seduce individual investors into making dreadful trades, and for this reason alone is worth its weight in gold for anyone who wants to master quickfire intraday trading and the consistent profits it can bring. Perhaps I should declare my interest by stating that I am a member of the Undergroundtrading pit, which I am also finding to be genuinely helpful. At the same time, those planning to act on this book should be aware that it is only the first stage of a long, arduous (and potentially expensive) apprenticeship, and that the real life application of the author's ideas require finely honed response skills, powerful computers and brokers that allow direct routing of orders. For those who want to go down this path, however, the author is a pretty good guide.
Rating:
Summary: Useless book
Review: There are much better books for daytrading. This one is totally useless for anyone with more than 2mos of day trading experience using direct ECN's. I don't think the author even understands the market maker games well. Don't waste your time with this book if your goal is to make more than $500/day after commissions.
Rating:
Summary: Overrated, money-losing strategy
Review: There are several problems with this book. To cite just a few of them here, the most important problem of all is the standard, "If this system is so good, then why are you teaching it and selling it instead of trading it?" A second interesting point here is that Jea is trying to teach a scalping game, something that will not be apparent at first while reading the book. Visit his site and see the daily, inflated results from tiny scalps. That strategy was fine in the momentum power era a couple years ago. These days spreads are 1 cent, valuations have come down from astronomical highs, and retail investors have abandoned trading. Fans of Jea are quick to point out that he has some room subscribers wo have been with him for 2 years. However, try to find anyone successfully trading this style, and you can never find them. You will find plenty of people who became excited while reading the book. But none of them are profitable. Once again maybe 1 out of 10 succeed. What does that tell you? This is only another average system. A few will succeed using it, and the majority will fail.
| 
