|
|
|
|
|
|
|
of experience is required to successfully juggle all of the permutations of price, liquidity, and order technique. |
|
|
|
|
|
|
|
|
Without monthsor even yearsof daily practice, you are at a big disadvantage against the skilled professional trader. This one area has been one ofif not themost difficult things to master to be a consistently profitable trader. |
|
|
|
|
|
|
|
|
Do you remember the scene in that Indiana Jones movie where a fearsome, sword-wielding assassin faces Dr. Jones in a crowded, dusty street? The tension builds as you realize that the bad guy can easily cut Dr. Jones into bite-sized morsels. Dr. Jones is just no match for this guy. So, Dr. Jones pulls out his pistol and shoots the assassin! |
|
|
|
|
|
|
|
|
We don't bring this up to encourage violence or mayhem. We bring this up to show you that there is always more than one way to skin the proverbial cat! You no longer have to be better, faster, or more experienced than all of these professional traders to compete with them on Nasdaq. You've got the computer on your side! |
|
|
|
|
|
|
|
|
You see, another reason to use one of the leading direct access brokers is that they already have a better and faster way for you to execute trades on Nasdaq without worrying about this delicate and intricate balancing of price, liquidity, and order type. |
|
|
|
|
|
|
|
|
Remember in Chapter 6 we talked about ''smart order" logic on the direct access broker's trading platforms. You make a few choices about the order in which you want the computer to search the various ECNs or market makers and the computer can execute all of those much faster than youor that professional tradercan. All you have to do is push one button! |
|
|
|
|
|
|
|
|
So, your trading choices are to |
|
|
|
 |
|
|
|
|
become an expert at the mental calculations of price, liquidity, and order type, then practice for hours every day to develop the dexterity to hit the keys just right. |
|
|
|
|
|
|
|
|
choose a good direct access broker and let the computer get the best possible executions for you! |
|
|
|
|
|
|
|
|
Moving on, Chapter 12 will help you understand price movements and charting. |
|
|
|
|
|