futures

I currently trade out of Marc and George's office and witness the success of their philosophy day-in and day-out. Their book is essential for anyone who wants to understand how the NYSE specialists and more especially, NASDAQ marketmakers, profit from price action in stocks. The book has a simple premise - if you trade the way the professionals do, in addition to being disciplined, you will make consistent money. But this is not a get-rich-quick scheme, instead it requires practice, patience and a commitment to following the rules of trading. Those that do will find, as I am starting to, that the rewards are well worth the efforts.

They went bankrupt, which is where you would be if you followed West and Friedfertig's methods. The book was a copy of Jack Schwager's Market Wizards series, due to the interviews conducted with "traders". You would be amazed if you saw some of these people and didnt read their words in print. Somehow they would not come off so sharp. Trust me!

Also do you think our authors would be able to spot "managerial talent" over a few aspiring proprietory traders? No they hire guys who have previously filed bankruptcy in their past and pipe up their accomplishments, which are a joke when you realized they bailed on creditors!!

Save yourself a dime and avoid it-if someone gives it to you, and you can't return it, use to start the BBQ grill. I could go on and on about SEC/NASD violation, getting short on a downtick, etc but I wont!

This book completely fails to realistically convey the relative risks and profit potential for the average wannabe day trader. Im talking about someone with less than a few thousand to play the market. Unless you have big bucks and Level II quotes forget day trading unless you are very lucky. In the trading parlance, I wish I had a short position on this book at its current price, and could cover my short at the current used price! Save your money.