In today’s episode I interview my friend Fausto Pugliese from CyberTradingUniversity.com
Fausto Pugliese was one of the original Day Traders of the early 1990s and one of the first independent traders to take advantage of the Direct Access Trading technology boom in 1987.
He acquired a wealth of knowledge from years of hands-on experience, beginning in the trenches, working side by side with some of the most practiced and successful traders in the industry. After spending considerable time mastering the art and discipline of day trading, Fausto chose to start his own company to share some of his highly-sought-after wisdom.
Fausto is the 12-time champion at the World Traders Challenge, and is the author of “How To Beat Market Makers At Their Own Game – Uncovering the Mysteries of Level III.”
Here are just some highlights from the interview:
- Why he likes day trading.
- How to get an edge in trading using Level III.
- The difference between Level II and Level III.
- It makes a huge difference to have the right type of brokerage firm.
- Why trades pre-market.
- Why you must invest in the BEST tools to be successful in trading (hint: not the “free” tools).
- High Frequency Trading (HFTs).
- The biggest fallacy is that no one makes money trading, because many people do.
- Why it’s important to be a self-empowered trader and not rely on others for trading signals.
- Why you need to watch “Iceberg orders.”
- Fausto’s favorite book:
- “How to Beat Market Makers at Their Own Game” by Fausto Pugliese.
- “The SOES Bandit” by Harvey Houtkin.
- Fausto’s favorite quote:
- “Losing money is a good thing because you know you lost it and you won’t do that again.”
- Fausto’s favorite trading resource:
- Level III Quotes.
- Nasdaq Trader.
- Fausto’s Special Offers:
- Live Online Trading Course:
- Tape Reading Crash Course:
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