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| Preface | |
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| What is Direct Access Electronic Trading and SOES Trading? | |
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| The SOES Bandit | |
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| Electronic Day Trading | |
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| Successful Trading Is the Key | |
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| The SOES System | |
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| Nasdaq Level II Trading Screen | |
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| Advantages of DAET Trading | |
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| Financial Industry Impediments to DAET | |
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| Cost of Commissions | |
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| Instantaneous Order Execution | |
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| The Market Maker Window | |
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| Interpreting Nasdaq Level II Information | |
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| Remote Trading | |
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| Trading on the Internet | |
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| On-line and E-mail-type Trading | |
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| DAET Represents the Future of Trading | |
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| Execution Risk | |
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| No One Trades Without a Perceived Edge | |
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| The Ticker | |
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| The Regulatory Future Is Bright | |
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| Firm Quote Rule Order Size | |
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| New Order Handling Rules Help Traders | |
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| Beating the Spread | |
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| Many Market-Maker Advantages Have Been Eliminated | |
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| Advantages of DAET | |
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| Is DAET Trading For You? | |
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| Take a Simple Test | |
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| DAET as an Occupation | |
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| Personal Qualities Needed for DAET | |
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| DAET Is Not Investing | |
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| Capital Is Required | |
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| The Learning Curve | |
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| Other Initial Costs | |
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| Getting started | |
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| Increased Need for Training | |
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| Paper Trading | |
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| The Start-up Room | |
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| The Real Value of an Education | |
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| Choosing a Trading System | |
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| Choosing a DAET Firm | |
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| Prelude to Trading | |
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| Trading Is an Art | |
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| Trading in General | |
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| Risk | |
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| Market Risk | |
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| Execution Risk | |
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| Trading Information | |
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| Treat Trading as a Business | |
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| Strategic Alliances | |
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| Successful Trades Count | |
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| Styles of Trading | |
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| Market-Maker Trading | |
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| Specialists | |
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| Parameter Traders | |
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| Sharpshooters | |
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| Fading the Market | |
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| Diversion Traders | |
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| Occasional Windfalls | |
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| Hybrid Styles | |
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| Fertile Trading Environment | |
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| How to Trade | |
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| The Key to Successful Trading Is Discipline | |
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| What Goes on in the Mind of a Successful Trader | |
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| Wiggles and Jiggles | |
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| Head Fakes | |
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| Defensive Strategies Against Wiggles, Jiggles, and Head Fakes | |
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| Depth of Market | |
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| Finding the "Ax" | |
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| "Trading Through" Violations | |
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| The Art of Trading | |
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| Base Your Trades Upon Facts | |
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| The Effect of News | |
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| Analysis of Facts | |
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| Where Do I Find My Signals? | |
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| Standard Analysis | |
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| Technical Analysis | |
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| Fundamental Analysis | |
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| The Acid Test of Any Trade | |
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| Rarely Hold Overnight Positions | |
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| Selling Short | |
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| The New Wall Street Ninja | |
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| Market-Maker Secrets | |
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| Sector Trading | |
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| Don't Confuse a Bull Market for Brains | |
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| Market-Monitoring Programs | |
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| Trading Tips | |
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| Not Every Trade Will Go Your Way Every Time | |
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| Trade with Zest! | |
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| Market Opening Trading Strategies | |
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| Never Average Down | |
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| Trading Tips--No Fancy Straddles Are Necessary | |
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| Aspects of a Good Trader | |
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| The MarketMinder Screen | |
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| Selection of Stocks Is Important | |
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| Mathematical Trading Loss Parameters | |
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| Never Trade with Money You Cannot Afford to Lose | |
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| Emotional Factors in Trading | |
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| Learn from Your Mistakes | |
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| Nasdaq International Trading | |
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| The Stock Market of the Future | |
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| Rules for Success | |
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| Ways to Lose Money | |
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| Deep Dark Secrets of The SOES Bandit | |
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| I Am The Man Who Rocked Wall Street | |
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| The SEC Consent Decree Against the NASD | |
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| Regulatory Accommodation | |
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| Nasdaq Is Flawed in Concept | |
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| SRO Responsibilities | |
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| Membership Organization | |
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| Nasdaq Market Operations | |
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| Class Action Update | |
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| Nasdaq Price Rigging Appears to Continue | |
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| Payment for Order Flow | |
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| What the New Order Handling Rules Mean to You | |
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| The Industry's Trading "Conventions" | |
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| The Fight for Positive Change Begins | |
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| The Crash of 1987 | |
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| A Brief History of DAET Time | |
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| SOES Bandits | |
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| N*Prove | |
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| "SOES Ahead!" | |
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| The Changing Slant of the Media | |
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| A Second Look at the Cost of Courtesy | |
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| The Power of the Order Clerk | |
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| The Obvious Error Rule | |
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| The Market Makers Wanted to End SOES and DAET | |
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| My Comments on the NASD Litigation | |
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| NYSE Management Principles | |
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| What Your Broker Doesn't Want You to Know: Or Bearing the Bull | |
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| Regulators Are Potentially Part of the Problem | |
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| The NASD's Regulatory Deficiencies | |
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| Backing Away | |
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| Excused Withdrawal | |
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| NASD Harrassment | |
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| Professional Trading Accounts | |
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| Selective Refusal to Trade | |
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| The Pricing Convention | |
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| The Role of INSTINET | |
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| The Chinese Market | |
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| Bear Stearns Meeting and Subsequent Narrowings | |
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| Publication of the Christie-Schultz Study | |
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| The So-Called Audit Trail | |
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| Coodinated Activity Among Market Makers | |
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| Delayed Reporting of Trades | |
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| The Return Trade Courtesy | |
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| Improper Disclosure of Customer Orders | |
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| The Courtesy of Mutual Cooperation | |
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| Afterword | |
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| Nasdaq Glossary | |
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| Index | |