The Prop Trader's Chronicles (PDF)

A practical guide to profiting from the strategies ofprofessional proprietary tradersToday's technology allows traders to make faster, moreprice-sensitive trades and to better read the flow of marketinformation and transactions--opening the way to a widervariety of short-term trading strategies. The Prop Trader'sChronicles unveils these strategies and techniques, which havelong been the province of proprietary trading firms and otherprofessional stock traders.This reliable guide describes author Francis Chan's experienceas a prop trader in an engaging narrative, but at the same timeprovides an in-depth explanation of strategies employed byproprietary traders utilizing direct access technologies, Level IIquotes, time and sales feeds, and electronic communicationnetworks. Along the way, you'll be introduced to a variety ofstrategies involved in the rapid day trading of stocks, including:scalping, rebate trading, and advanced reading of time and salestransactions to detect short-term swings. Chang also reveals how touse time and sales data as the modern-day equivalent of 'readingthe tape.'* Shows active independent traders how they can perform at ahigher level by replicating the professional strategies of proptraders* Offers valuable insights on how traders can 'read the tape' andbetter detect short term market swings* Describes a variety of prop trading strategies, from electronicscalping to statistical arbitrageThe Prop Trader's Chronicles provides a solid foundationfor traders looking to improve their performance. With this book asyour guide, you'll quickly discover what it really takes to make itin today's competitive markets.