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Readers reviews of The Strategic Electronic Day Trader

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Deel writes from experience and knows what he is talking about. His understanding of the differences between on-line and Internet trading is excellent. For those who want to find out just how different the order system and execution is in the US this book provides a detailed explanation of procedures and traps. Australians who think they can day trade US markets must read this book first.


He emphasises that the trader must know how best to route his order and much of his execution strategy is built around this, but these are not issues in Australian markets.


The book is still useful for traders operating in other markets. It underlines that day trading is based on end of day analysis. Scalping is purely gut instinct and very difficult to turn into a successful strategy in the long term for people with less than half a million or more to spare. His discussion of parabolic moves is relevant to all speculative markets, and his conclusions about the validity of intra-days patterns provides plenty of food for thought. These techniques are applicable to Australian day trading markets but do require a little modification to take into account depth and liquidity.


He makes an important point that as markets move towards being continuos over 24 hours that we are all going to have to deal more closely with volatility. This will make the old buy and hold approach much more difficult and increases the risk. He proposes an interesting weighting system which is designed to line up indicators on end of day charts which bring the trader to the best intra day opportunities.


The last section of his book promotes his Deel Mental Conditioning program. The chapter does provide useful insights into the way our attitudes improve or inhibit our trading. This approach is interesting because it is not based on trader psychology but on bio rhythms. For those less comfortable with psycho-babble this provides an interesting alternative.



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