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I believe he said he wouldn't automatic trade and it is danger, may be he changed his mind?

I think Niederhoffer is very smart and knows a lot about the market, he blows up because he believes himself too much, always seek for very high % gain and too confidence that no need to even have a cut lose plan.

He said that many times in his second book. Do you guys agree and why?

interesting topic

Thanks, I will have a look once I get back to home.

Any way to read about Peter Davies trading method?

Just sent you a private message.

arna, can you command something for me to learn from? Youtube is the best way? Any book or research paper? Do you manually or automatically trade?

I believe, then what do you look at? ask, bid, volume?

I don't think there is any good book about how to look at level 2 data to scalp trade.

For people do >50 trades per day, I doubt even volume can tell them anything since they keep trading a lot for the whole day. For that kind of rapid "scalp" trading, is that they mainly look at the bid/ask number to determine there is a small edge up/down in next few seconds?

If this is illegal, then basically a lot of HFT is illegal too.

Honesetly it makes perfect sense. All chart no matter 1 min, daily charts are just history.

Is there a name or term for search?

Is the name "tape reading"?

Does anyone do that? Seem like some masters can really do high frequency manual day trade by looking at live price, bid and ask prices. Any book/article/research/people suggestion?

It would be great if someone can explain how he earned money from that, and is that what really happened? May be just a bank tries to hide what they did?

Any research result?

Any suggestion?

Another Big issue is different between buy price and sell price. A short term trade to win after overcome two products buy and sell price different is much harder than backtest with just the trading price.