Chapter 11: Speed counts. Should you get online?
In this chapter, you will learn that:
• To execute your trading orders, you will need to use the services of a broker of some description. In general terms, brokers fall into three categories — full-service brokers, limited-service brokers and discount brokers (which includes online brokers).
• Before jumping into the online environment, be aware of the drawbacks. Online traders often overtrade, are overconfident and earn less money than traders using a human broker.
There is an old Wall Street adage that advises, ‘Don’t confuse brains with a bull market.’ During a bull run, people tend to think that they have found the combination to the bank vault. Many traders reach the conclusion that it ...