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How to Beat the Market Makers at Their Own Game: Uncovering the Mysteries of Day Trading by Fausto Pugliese

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Introduction

Contrary to popular media reports, day trading is alive and well in America. This isn't a comeback for day traders either; many of us never left. I continued day trading throughout the shakeup of the early 2000s, and during that time, I consistently made money. For years, day trading has represented a significant portion of my income and it continues to do so even now, despite today's economic climate. I'm not alone; my company, Cyber Trading University, has trained thousands of people to do the same thing, and many of these people have gone on to duplicate, or in some cases exceed, my success. In the following chapters, I will share the system I have relied upon and perfected with you.

Of course, this is not to say that there hasn't been a shakeup in the industry. Many traders lost their shirts in 2000 and in times since. The truth of the matter is that most of these people weren't day trading in the first place; they were the unfortunate victims of an out-of-control fad that called itself “day trading.” In actuality, this fad was anything but day trading—it was outright speculation.

You must remember that during the late 1990s, making money in the stock market was incredibly easy. In fact, it was almost impossible to lose money in the market. The Standard and Poor (S&P) 500 Index averaged a 20 percent or greater return every year from 1995 to 1999. Remarkably, the S&P 500 had poor performance compared to the Nasdaq Composite. In the years 1995 and 1998, the Nasdaq ...

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