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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 | |