The Market Taker's Edge: Insider Strategies from the Options Trading Floor (Hardcover)
A Trading-Floor Veteran Shares his Secrets "What I like about Dan's book is that it's obvious he isn't just telling you how to trade, he's telling you how he trades. There's always a big difference between those who teach trading from an academic standpoint and those who have traded and have the ability to walk investors step by step through the trade. For my money, I always seek advice and counsel from those that walk the walk and Dan Passarelli has walked the walk."
Jon Najarian, cofounder Trademonster.com
On Dan Passarelli's first day as a clerk on the exchange floor, he spent the morning observing, practicing his hand signals, and running errands. Around midday, the veteran clerk he worked with said to him, "You're up. I'm going to lunch." Dan survived his trial by fire and went on to spend many years on the trading fl oor. He credits his success as a trader and educator to the hands-on experience he gained throughout his career.
With The Market Taker's Edge, Passarelli shares the knowledge and insights other floor traders keep tight to their chests--the knowledge you need to beat the market on a regular basis.
This market maker turned market taker delivers a focused commentary on key concepts for operating in the options exchange like a pro. He offers a candid look at the ups and downs of his trading career and conveys the lessons he learned along the way in an informative and often entertaining way. After spending time on the floor in his shoes, you'll understand:
- How professional traders attempt to make money--and why it's different from the way you make money
- Why market makers are not the enemy
- How both market takers and market makers can profit while taking opposite sides of the same trade
- How to focus on what is important in a trade and avoid the noise
Dan Passarelli has already taught thousands of people how to make a living as traders, and now with The Market Taker's Edge, he can help you do it, too.