Trading Strategies for Direct Access Trading

The electronic direct access method of trading doesn't mean that traders can simply click a mouse button and watch the profits roll in. Trading strategies are still needed to make the right trade at the right time. Electronic direct access trading can use many of the same strategies and techniques that have been successfully used by traders for decades. However, because this is a slightly different medium for trading, trading strategies must be altered to fit this new trading format. "Trading Strategies for Direct Access Trading" will walk the reader through the different ways to create his or her own electronic trading strategy. Whether a scalping day trader or a longer-term swing or position trader, there are ways to diversify and thus maximize capital that allow the trader to take advantage of market opportunities while controlling risk. The author discusses the key elements a trader needs to master in order to effectively manage his or her trading.
The author covers in detail the following concepts: most successful direct access traders actually combine long-term and short-term strategies to maximize the use of their capital; evaluating and managing risk on a consistent basis based on current market sentiment and the trader's capital situation; choosing specific types of stocks to trade for specific types of traders; and an in-depth look at specific strategies to build an electronic trading portfolio and building a capital base. There is also a chapter dedicated to rules for success based on the experiences of seasoned direct access traders. The book closes with case studies of successful traders who incorporate different strategies into their trading depending on market conditions. "Trading Strategies for Direct Access Trading" should help the reader find the style of trading that matches his or her personality and psychological make-up. This is the fifth in a planned six-book series on making the transition from online trading to direct access trading.