The Undergroundtrader.com™ Guide to Electronic Trading shares Yu’s most consistently successful trading strategies—techniques for understanding and utilizing the rapid-fire Nasdaq Level 2 screen, tactics for uncovering and profiting from market makers, surgical methods for sneaking in and out with a quick profit, and more—in a style that eschews hype and misinformation to concentrate on facts.
Not a book for beginners or hobby traders, The Undergroundtrader.com™ Guide to Electronic Trading packs its pages with upperlevel strategies and techniques guaranteed to establish you on the screen as a powerful, effective trader—and a formidable presence. Look to this straightforward, pull-no-punches guide for:
- Charting methods to accurately evaluate immediate and historical intraday trends
- Tactics for getting optimal fill prices during periods of panic momentum
- Methods for minimizing risks while playing momentum stocks on the fly
- Telltale signs of initial bottoms or tops on the open
- Strategies for understanding—and maximizing— each distinct period during the typical trading day
- Valuable information on hardware setup, brokers, mental preparation, money and risk management, keeping a trade journal, and more.
Yu completes his all-in-one seminar by taking you through two days in the life of an underground day trader. Minute by minute, trade by trade, you experience the excitement, split-second strategy, successes, mistakes, and recoveries involved in intraday trading. No other book takes you inside the screen in such personal, heart-stopping language—and prepares you so thoroughly for the actual give-and-take of putting your own money on the line.
The Undergroundtrader.com'”” Guide to Electronic Trading is for aggressive, hungry traders who want it all, and want it all now. From new traders looking to hit the ground running to experienced day traders who need to polish their technique and fine-tune their trading personality, it explains how to trade with the trend, understand various types of plays, and profit from the volatility and price fluctuations that are waiting for the savvy, intuitive underground trader—each and every trading day.
Contents:
- What Makes the Market Tick?
- The Nasdaq Market
- Watching the Market Makers
- Charts: The Most Powerful Tools
- Order Routing and ECNs
- Types of Plays
- Playing Initial Public Offerings
- Determining Your Style
- Preparing to Trade
- How to Day-Trade Correctly
- Playing Momentum Stocks on the Fly
- The Market Day Breakdown
- Putting It All Together
The Undergroundtrader.com Guide to Electronic Trading: Day Trading Techniques of a Master Guerrilla Trader By Jea Yu pdf
Josiah Ballard (verified owner) –
If you are a day trader using a direct access broker, *Memorize this Book*.
That’s all I have to say.
Nash Lowe (verified owner) –
This book is simply fantastic.
The value of its information is about as huge as Sun-Tze’s “Art of War”.
Thankful and honest respect for this one, Mr. Yu!
Cyrus Sparks (verified owner) –
There are a lot of books out there about daytrading. This is the one you need. Jea Yu (known as Jay in the undergroundtrader.com Trading Pit) provides the tools every trader needs, along with the secrets no one else is going to tell you. If you want to daytrade, read this book. It costs less than you’d pay for a single round trip commission on most trades. It’s your money.
Roberto Carter (verified owner) –
This is an all around GREAT book. Jea Yu goes in to great detail on his trading strategies that really work. I suggest this book to anyone who wants to learn to day trade or for people who want to sharpen their day trading skills. The only people who would say bad things about this book are “investors” who dislike day traders OR the authors of other books who are bitter and perhaps a little jealous over the success of Mr. Yu. I’m referring to the distasteful comments some people have left here.
Galilea Roberts (verified owner) –
No real value in this book. The chat service is horrible. Everyone is losing money there. Buy Oliver Velez and Greg Capra book, Tools and Tactics for the Master Daytrader, and subscribe to their services. They have over 65,000 members world wide. That tells ypou something. Obviously when you have that many members, most of them make money or they would have left, wouldn’t they? Compare that to the 400 members of Jea Yu site. do you see what I am talking about? Pristine is the only way to go.
Arya Peterson (verified owner) –
I consider that the infos that Mr Jea Yu gives us are very important in your own strategy and the way you must day-trade. Particulary the way to day-trade with regards to LEVEL 2 and how mMarket-Makers act is fully interesting and hard to find. For me in charge of a web-site ………for french daytraders, the reading had been to discover another dimension of the Nasdaq. Moreover it has been a fully additionnal to the book/best seller of Mr A.Farrell “Day trader’s survival guide”. Of course it is not a complete book for Technical Analysis but there are some analysis which can make the difference in your trades of course only 1 out of all the parameters you need to daytrade.
Aisha Bridges (verified owner) –
There are many books on trading that suggest that a combination of psychotherapy and technical analysis provide the key to the bank. This is the only one I have come across that describes in detail the many and varied ruses used by market professionals to deceive/terrify/seduce individual investors into making dreadful trades, and for this reason alone is worth its weight in gold for anyone who wants to master quickfire intraday trading and the consistent profits it can bring.
Perhaps I should declare my interest by stating that I am a member of the Undergroundtrading pit, which I am also finding to be genuinely helpful. At the same time, those planning to act on this book should be aware that it is only the first stage of a long, arduous (and potentially expensive) apprenticeship, and that the real life application of the author’s ideas require finely honed response skills, powerful computers and brokers that allow direct routing of orders. For those who want to go down this path, however, the author is a pretty good guide.
Briggs Carr (verified owner) –
I’ve read a lot of books about daytrading. Some of them were very complicated and difficult te read, others were to simple. This book is neither to difficult or to simple. Every important aspect of daytrading is treated. Perhaps not in every detail but enough to understand. YU writes about marketmakers and about finding the ax in an practical way. The pages about technical analysis are perhaps not so extended, but they are very effective. You will surely have success when you use the charts the way YU does. The chapter about order routing is also very effectively written. Finally the rules YU explains to find buy or sell signals are also very simple. Every one can see these signals.
Finally I think that someone can really appreciate this book after having read 20 or 30 other books about daytrading.
Cassius Leon (verified owner) –
This is the best book among twenty other day trading books that I read. Great chapter on Market Makers ( AX, different tactics by them). Other chapters are just as valuable to making money. I learned a lot from: “How to Trade Correctly”, “Playing Momentum Stocks on the Fly” and “Watching the MM” chapters. In fact, no other book has portrayed the game played against the public as this one book by Jea Yu.
Antonella Lyons (verified owner) –
I can’t rate this book highly enough! Jea Yu is a master trader who writes from a position of experience and not theory alone. Jea teaches us to become ‘snipers’ keeping our powder dry and waiting patiently until all indicators (fully explained) are in our favour. Only then do we ‘pull the trigger’ and enter a trade. I’d have gladly paid many times more to obtain the secrets in this book as Jea passes on so much information that one might only begin to learn alone through making many costly mistakes. Jea’s clear explanations of everything from Level II screens, market makers, head fakes, order routing, charts, stochastics etc made sense for me out of all the jargon I’d been hearing elsewhere. I’m so pleased I found this book and through it, Jea’s website at […] Thanks only to Jea I went from ‘newbie’ to profitable trader in around 2 weeks!
Mohammed Fisher (verified owner) –
Jea Yu is an excellent trader, and his book is very helpful for assisting traders in understanding the practical ‘mechanics’ needed to be successful in daytrading.
The unique contribution that Jae makes in his book is a detailed understanding of scalping and market maker plays, an area in which few resources are available to the public. We highly recommend this book to all our traders at the Daytrading University for helping traders learn more about order routing, sector plays, tick-by-tick scalping and how to day trade correctly.
Along with Tony Oz, Barry Rudd, Nison, Cooper and Turner, Jae Yu has made it into the upper echelon of our “must read” recommended books for all aspiring daytraders. This is thankfully not a newbie fluff book nor does he overtly try to sell his services like many of the other authors do.
Yu has added solid value to the trading community, he is a professional who knows what he’s doing, and traders can learn a lot from him. This book is absolutely an essential reference for those who are trying to learn how to daytrade. Get it.
Jennifer Watkins (verified owner) –
Most who attempt day trading fail because they underestimate the learning curve, both in terms of the knowledge and capital it takes to succeed. The UndergroundTrader.com Guide to Electronic Trading, is recommended to those with at least some day trading experience, who are determined to survive the learning curve. Author Jea Yu is co-founder of UndergroundTrader.com, a popular Web site for day traders. “The secret to successful trading” he says, “is to know what to do when certain prices occur, and to let go of belief and prediction in order to focus more clearly on what is actually happening in the market.”
The book’s themes are the necessity for precise, objective methods of identifying and managing trades, the requirement for discipline, the importance of money management, and the powerful psychological factors that lead traders into self-defeating behavior. Charting indicators and studies such as moving averages, stochastics, and Fibonacci pivot points are detailed and illustrated, and the author does a superlative job of explaining the nuances of reading the Nasdaq Level 2 screen and how to track the ax and significant market makers. Execution methods and order routing are covered, as are as ways to exit trades in fast markets. Two days in the life of author-trader Yu are detailed minute-by-minute, trade-by-trade – and this section demonstrates and ties together the principles and techniques presented throughout the book.
Roll up your sleeves, for you will likely find this one of the best books on how to day trade with success.
Lucy Vaughan (verified owner) –
It always amazes me how some people have the ability to write a whole book with nothing to say. If you can make money using the techniques in this book please email me, as far as I’m concerned this book is only meant to promote their services. The second half of the book is surely meant to impress, not to teach. I hate these selling techniques: they even make us pay for their promotional material.
Santiago Manning (verified owner) –
I cannot understand for the life of me why you would post a review from someone like this guy “snipertrader”. If you cannot spot someone with no intention of reviewing the content of the book but rather in attacking author, then you have a problem. I’ve read just about every book there is about daytrading and decided to become a member of the UNDERGROUNDTRADER.COM after reading it. Nobody guaranties anything in life, why would you ask Jay to guaranty to make you rich? If you can’t tell me that O. Velez and Capra’s mentioning of their website at least twice in every chapter is not self serving then what is it? This is not directed at them because they are not claiming that their book and service is the only way to go but to people saying that. (I belong and receive daily updates from their service(PRISTINE), but I don’t expect them to make me rich)You can’t and won’t learn everything from every book but some are better than others, and pound for pound, Jay’s book being the smallest is still the one with the most useful content for a “newbie” trader. He will take you in the right direction(a trader who’s been trading and making money for a while has already developed other sources of info to tap into,those thing come with time and trial and error, not from a list from the back of book, there are pages and pages of websites and other sources you will be directed to(isn’t that one way of filling pages?), but only you know what is right for you so you will develop “your own list” in time)open your eyes to the reality of daytrading(trading “intraday”), not buy and hold, (“buying for the long term”)Now why would Jay’s chat room only have 400 members as opposed to Pristine’s 65,000?who knows, who cares, Do we go there to count heads or to make money? Why does Rolls Royce only make a few thousand car when Ford makes a few million? again, I became a member to make money not just to be associated with a bigger mob. I can only speak for myself but I am making money(not enough to buy a Rolls but I could be losing or lost everything like a lot of people) after 2 months in the UNDERGROUNDTRADER.COM chat room (full time) but my education didn’t begin and end with Jay’s book, his is only one of many that you need to read but IN MY OPINION it is the one with the most useful content and Jay doesn’t insult our intelligence by repeating himself and fillind the book with useless information, he understands the reason why you bought the book, “to learn how to trade”, therefore he gets to it and doesn’t waste your time, like you will be if you read snipertrader’s review.
Rowan Barton (verified owner) –
Read the book twice. Jay says in 200 pages what it takes others 500 pages to say. Its cut to the chase baby. If you want straight talk, thats that fact jack, then this is the book. Add the video and join the chat service (Jay is a coach, like Bobby Knight, if your screwing up he lets you know about it!!) and you might have a chance to succeed. Face it, no matter what system you choose, most daytraders fail, Jay provides simple yet effective methods for scalping or swinging intra-day but you must follow them, get greedy or loose focus and your toast.
I have only been a chat subscriber a short while, but he has honed my skills, helped me to stay focused and learn the techniques. As far as the daily calls on the website, I’ve seen them all called live and they are real. However,I dont take those trades unless I know the stock. Thats one of his techniques. Your basket stock, pick one stock and learn that sucker forwards and backwards and quess what, it becomes your personal ATM machine, yea baby$ Stray from your basket and quess what, ya go home red.
Amari Curry (verified owner) –
This is not a very good book on daytrading.
Best book I read regarding this subject is “Fiancial freedom trough electronic daytrading” by Van K Tharp and Brian June. They give you a step by step way to build your plan, including the three main elements of any trading plan: Psicology, risk control and posotion sizing.
Second best is Tony Oz’s “Stock trading wizard”.
Anyway, Appendix A of “The Undergroundtrader.com Guide to Electronic Trading” ,written by Russell Arthur Lockhart, Ph.D. and titled “A different style of trading”, is excellent and gives you, as the title says, a different way to daytrade, without the stressing pressure of level 2 surveillance and the subjectiveness inherent of the decission making using this tool.
Lockhart method (3PB)is purely mechanical and focussed only in price action. No indicators such as stochactics or MACD are needed. It tells you, also, how to improve this method using fibonanci price targets and pivot points.
Based solely on this appendix ( 35 pages) i’m glad I bought this book.
Castiel Bautista (verified owner) –
I suppose this is a good book for would-be day-traders if and only if we knew that the market were about to enter another period like that of 1995-1999. I have the disadvantage of having been at this business since 1983.
The information presented about time-of-day is not universal across all market phases, other than it is true the first and last hour see the most volume and often the most volatility.
The concept that the highest volatility is the best time to trade is based in ignorance. The greatest volatility we have seen in the history of the US equity markets was 1987. Unless you were short (or flat) by the end of the day on Oct 16th, you were broke, dead broke, and you should have been short a couple of days before that. That just wasn’t going to happen using these techniques.
The author’s view of technical analysis is very narrow. What is pathetic is that he seems to believe he has great technical depth. It is also very dangerous for the reader.
Yes, I see all the other rave reviews. It will be interesting to see how well all like the techniques after a secular bear market, which will happen again. I’ll be surprised if any of the raves are still trading, and, if the author continues to trade as described (which I suspect he is not even at this writing), I expect he will be broke. These methods are not new, and have not withstood the test of time.
Amora Winters (verified owner) –
As the field of day trading grows larger the quality of the books keep improving. Usually, successful traders are reluctant to give out their methods. Especially where they have make a business of providing this advice. This book is an improvement on the orginal self published text of a few years ago. It provides and highlights indicators and methods all day traders should be know. It is extremly valuable for those with limited experience.
Alejandra Harmon (verified owner) –
This is the first book I read and with the help of someone that has followed Jea and his methods, I began the very steep learning curve. One year later, I am still here. One point to realize is that the book becomes clearer after the third or fourth read, once is not enough.
If you are interested in starting out in this business and need to read the first book, this is the one. Basic settings of your charts, interpretations, and appendix A will give the reader a basis to begin the process of developing your own style of trading.
After this book, you will need several others to round out your library and those you can pick as you like.