Sammy Chua's Day Trade Your Way to Financial Freedom

Sammy Chua's DAY TRADE Your Way to FINANCIAL FREEDOM SECOND EDITION Day Trade Your Way to Financial Freedom, Second Edition tells you everything you need to have--and know--to launch a successful and satisfying career as a stock trader. From behind-the-scenes details on market makers and Level II trading to the stock-picking strategies and trading techniques of today's top pros, renowned trader and trainer Sammy Chua shows you how to: * Use your Level II screen to look behind the action--and discover what the market makers are really doing * Interpret technical indicators to identify trends and accurately forecast pending reversal points * Stay in winning trades for the maximum possible profits, while avoiding huge losses that can cripple a trading program New technologies and securities regulations make it the best time in history to become an independent day trader. But only you can make that first move. Let Day Trade Your Way to Financial Freedom, Second Edition give you the intelligence and confidence you need to become a successful day trader, and take control of your financial future.

Preface vii Introduction 1 Chapter One An Overview 5 The Stock Markets The Exchange System NYSE Time Lines Listed Stocks The Specialist System Who’s Who on the Exchange Floor The SuperDOT System Chapter Two The Big Board and Nasdaq 13 The Over-the-Counter Market (OTC) NASD and Nasdaq Nasdaq Is a Negotiated Market Understanding Market Makers Information Is Power Nasdaq Service Levels I, Ii, and iii Comparing the NYSE and Nasdaq Electronic Communications Networks (ECNs) Regulatory Framework Quick Quiz Chapter Three Brokerage Firms 25 Selecting a Brokerage Execution Speed Reliability Order Routing Price Service Other Online Brokerage Features Types of Accounts Types of Positions Types of Trading Orders Chapter Four Direct Access Order Entry System 39 Nasdaq Direct SuperMontage TotalView ECNs SuperDOT Order Execution Systems Review Chapter Five Elements of Successful Trading 47 Minimum Requirements to Begin Trading Psychology of Trading Risk Management Trading Methodology Chapter Six Trading Strategies 59 Scalping Intraday-Trend Trading Swing Trading Long-Term Trading Back Testing Chapter Seven Technical Analysis 65 Charts Identifying Support and Resistance Trading Strategies Trendlines Gaps Basic Chart Patterns Volume Analysis Chapter Eight Candlestick Charting Techniques 115 Spotting Heavy Buying and Selling Pressures Comparing Buying and Selling Pressures Spotting Indecision with Candlesticks Understanding Intraperiod Activity Candlestick Positions Bullish Patterns Bearish Patterns Chapter Nine Spotting Trends 151 Technical Indicators Key to Using Indicators Moving Averages Moving Average Convergence Divergence MACD Histogram Stochastic Oscillator Relative Strength Index On-Balance Volume Accumulation/Distribution Futures and Pivot Points Conclusion Chapter Ten Preparing for the Open 177 The Trading Day Do the Research Manage Risk Set Alerts and Trading Screens Intraday Trading Market Indices Other Market Indicators Direction of Market Trends Keep a Trade Journal Conclusion 193 Index 195