The Undergroundtrader.com Guide to Electronic Trading

by Jea Yu

Book Overview

On his hugely popular website Undergroundtrader.com. Jea Yu tells traders how to stand firm, trust their instincts and knowledge, and grab the day trading profits they deserve. Traders trust Yu's hard... This description may be from another edition of this product.

• Format: Hardcover
• Language: English
• ISBN: 0071360166
• ISBN13: 9780071360166
• Release Date: July 2000
• Publisher: McGraw-Hill Companies
• Length: 249 Pages
• Weight: 1.25 lbs.
• Dimensions: 0.9" x 6.2" x 9.3"

Customer Reviews

Outstanding. Read it again and again.

A novice should probably read that fluffy Toni Turner book to get an idea of the lingo, but no one should contemplate day trading without reading Lu. This book is a detailed description of the intricacies of no-nonsense, hardcore daytrading, written by a consistently successful practitioner. I have read dozens of books on trading and this is the only one that I read again within one week of finishing it for the first time. It's simply too good to store on a shelf. Read it, learn from it, read it again, profit from it. To use an old cliche, the small amount of money spent on this book will be the best investment you'll ever make. I'm not kidding. Read Toni Turner's sappy book if you must, if you're new to the game, but don't open an account until you read Jea Lu. His explanation of Level II screens, the use of stochastics and moving averages, and his advocacy of zero-emotion trading are all gems, which alone would be worth the price of the book.I'm currently re-reading it, cover to cover, for the third time.

The Best Scalp Day Trading Book

I was a little suspicious when I ordered this book. I thought the other reviews were written by friends of the author given only 5 reviews at the time I ordered the book, and they were all five stars. What hell, it is only a round trip commission . . . Wow, I was wrong.In my opinion, this is the best book on scalp trading I have ever read. Those who are not scalping for 1/4's and 1/2's may not find it to be the best thing since sliced bread, yet the principles here can be easily applied to all aspects of trading. Most importantly, the book is filled with professionalism, you know it was written by a professional trader as soon as you open it. Hell, it almost feels like it was written by my mentor's day trading alter ego! It kicks off with a line straight out of art of war, it emphasizes on the fact that trading is a zero sum game, survival of the fittest, it also made very clear statements that 90% of the traders lose money, back cover AND very first pages of the book! It tells you everything from the equipment/broker you need (straight out of Golfbiz's living room) to the recommendation of a trading journal! The book has a truly enlightening chapter on Market Makers, covering who they are, what they do, and their bag of nasty tricks. (After ( ) and this book, I feel most people on this board has no clue what a market maker CAN and CAN NOT do, I highly recommend this book because it provides some amazing insights not found in any other book I read. It only covers 3 minute moving averages (curiously 5/15 SMA, reminds me of VicLee) and 1 minute stochastics, and most importantly, how those two indicators can be combined with Level II screens. You learn everything from watching index futures and how they really work to institution buying programs and how they affect a day trader. I was afraid that this book may be a loud advertisement for ( ), yet I was pleased that throughout the entire book, the site was NEVER mentioned as blatant advertisement. In fact, 90% of the book has NOTHING to do with the site at all. In the end, there is a two day minute-by-minute journal of a profitable day trader, covering everything from pre-market to closing bell, his winning and losing trades, and only in this chapter you will see the mentioning of the site, even then, you can see that the day trader only uses the site to bring up interesting stocks to watch on his radar, and he uses his OWN instincts to decide entry and exit points.Finally, this book is UP TO DATE, you will recognize every single stock mentioned in this book, one of the examples mentioned the addition of YHOO to S & P 500, and how it gapped up in afterhours, faced severe selling pressure in the morning, and how MSCO (Morgan Stanley) the market maker simply single handedly took on the world and HELD the BID at 300, eventually the stock closed at 350 . . . Complaints: The book is VERY hardcore, the author left out all the fluffs and gave you nothing but hardcore material. That said, i

Super book for all daytraders - get this one (DTU).

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.

The Master speaks!

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 www.undergroundtrader.com. Thanks only to Jea I went from 'newbie' to profitable trader in around 2 weeks!

The Best Day-Trading book

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.