|Chan, Francis J.|
The Prop Trader's Chronicles
Short-Term Proprietary Trading Strategies for Both Bull and Bear Markets
Wiley Trading Series
1. Auflage November 2012
2012. 156 Seiten, Hardcover
ISBN 978-1-118-24108-0 - John Wiley & Sons
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A practical guide to profiting from the strategies of professional proprietary traders
Today's technology allows traders to make faster, more price-sensitive trades and to better read the flow of market information and transactions--opening the way to a wider variety of short-term trading strategies. The Prop Trader's Chronicles unveils these strategies and techniques, which have long been the province of proprietary trading firms and other professional stock traders.
This reliable guide describes author Francis Chan's experience as a prop trader in an engaging narrative, but at the same time provides an in-depth explanation of strategies employed by proprietary traders utilizing direct access technologies, Level II quotes, time and sales feeds, and electronic communication networks. Along the way, you'll be introduced to a variety of strategies involved in the rapid day trading of stocks, including: scalping, rebate trading, and advanced reading of time and sales transactions to detect short-term swings. Chang also reveals how to use time and sales data as the modern-day equivalent of 'reading the tape.'
* Shows active independent traders how they can perform at a higher level by replicating the professional strategies of prop traders
* Offers valuable insights on how traders can 'read the tape' and better detect short term market swings
* Describes a variety of prop trading strategies, from electronic scalping to statistical arbitrage
The Prop Trader's Chronicles provides a solid foundation for traders looking to improve their performance. With this book as your guide, you'll quickly discover what it really takes to make it in today's competitive markets.
Aus dem Inhalt
CHAPTER 1 Eat a Percentage of What You Kill 1
CHAPTER 2 A Swift Reality Check 9
CHAPTER 3 The Basics of Double Auction Markets in the Real World 21
CHAPTER 4 Introduction to the ECN Platforms and Order Routing 29
CHAPTER 5 Dark Pool Liquidity and Alternative Trading Systems 41
CHAPTER 6 Combining Level 2 and Time & Sales: Reading the Consolidated Tape 47
CHAPTER 7 Week One on Live Trading 55
CHAPTER 8 Losing $30,000 in Under a Minute 71
CHAPTER 9 Trading with a Real Edge 79
CHAPTER 10 The Psychology of Profitable Trading 91
CHAPTER 11 Choosing a Proprietary Trading Firm 107
CHAPTER 12 Strategy Diversification 117
CHAPTER 13 Volatility and the Crash of 2008 127
CHAPTER 14 Building Blocks of Trading Strategies 133
About the Author 149