Pugliese - How to beat the market makers at their own game: uncovering the mysteries of day trading

As the founder of Falcon Technology Trading Computers, I see many traders who are just getting started. Many of these new traders are navely confident in their ability to trade yet they are seriously unprepared to face the markets. While there are a lot of people who don't make it as traders, there are plenty who become successful traders. What makes people successful traders is learning from successful traders. Fausto Pugliese is the kind of veteran trader who can help people learn to trade successfully. This book is about day trading but the lessons learned here will help you become a better trader on any time frame.

Scott Tafel, President, Falcon Technology Trading Computers

Fausto not only has developed a trading technique that is very successful, but his easy-to-follow instructions allow investors to clearly understand his trading strategy. How to Beat the Market Markers at Their Own Game is an excellent guide for not only using successful mechanical strategies techniques but Fausto also describes the correct mental attitude to be a successful trader. Utilizing the information in this book will provide definite improvements into your trading capabilities. This is a must read for any trader that wants to get on the path for producing consistent profits.

Stephen W. Bigalow, Owner of Candle Stick Forum

How to Beat Market Makers at Their Own Game is a must-read for traders who are just starting out as well as traders who are struggling. Anyone who has walked the floor of any major Trader's Expo has no doubt seen Fausto trade live against other top traders. He always wins. This is because he follows a clear trading plan and NEVER wavers from his rules. This book continues his theme of discipline first'... and that's the glue that holds any trader's success together. Read it and read it again.

Norman Hallett, Founder, The Disciplined Trader

After spending 10 years making markets at the Chicago Board Options Exchange, I understand how challenging trading can be. In this text, Fausto draws from his own trading experiences to offer readers a step-by-step guide for beating market makers at their own gameand the results are superb. Having had the pleasure of working with Fausto for the past few years, I respect him as both a trader and educator. I'm pleased to add author to this list, as this book will be a must-read for traders for years to come.

Andrew Keene, President/Founder, Keene On The Market

Fausto is the real deal. How many times do you have to see him win live trading contests to become a believer? Fausto sets himself apart from the rest with the key ingredientsknowledge, the right attitude, proper understanding of the markets, real personal experience, and integrity. You need to be a winner to teach others how to winFausto is a winner!

Jordan Kimmel, President, Magnet Investment Group

I have known Fausto for many years and watched him win at least 2 of his 12 Live Trading Challenges at Trading Expositions. He was one of the original early day traders, known as SOES bandits, who became professional scalpers. I am a professional money manager and have taken his class. I would recommend his classes and book for anyone who wants to be a trader as an avocation.

Dan Stewart CFA, President, NorAm Asset Management, Inc.

As a valuable NinjaTrader Educational partner, Fausto Pugliese and the team at Cyber Trading University raise the bar for excellence in delivering active trader education. This is evidenced in Fausto's latest book where he clearly outlines what is required to be a successful active trader of the equities markets and in particular his Rules of the Road' should be a must read for any new trader. By reading this book and participating in Cyber Trading University's vast array of other educational opportunities their traders can rest assured knowing they have received proper training and education to capitalize daily on today's market opportunities.

John Gromala, VP of Sales & Marketing, NinjaTrader, LLC

Fausto's knowledge of how market depth and how to follow what the market makers are doing is an important part of what traders should understand. This book helps traders understand how to read Level II and see who is buying and who is selling. This will help traders understand market pressure and take their views of the market to the next level.

Kelly Clement, Thomson Reuters

Fausto's understanding of the level two markets is a unique asset to the industry of trading. In this book, Fausto clearly covers the roles market makers play in manipulating the market. He clearly identifies how to understand what is happening in the market. This knowledge provides clear, interesting techniques for quick trades. Readers of this book will surely have a new view of the market after reading through this book.

Jeffrey Gibby, Senior Business Development Specialist, Thomson Reuters

I have enjoyed getting to know Fausto over the years and have come to appreciate not only his style of trading but his passion for educating traders across the world as well. This book has provided the trading world with a glance at the level II and level III markets from someone that was there from the beginning and has several insights to help any active trader. If every trader read and lived by Rules 110 that Fausto lists in the final chapter, their odds of succeeding in the business would increase dramatically. Thanks Fausto for your contribution!

Morgan Busby, President, TradingPub.com

Founded in 1807, John Wiley & Sons is the oldest independent publishing company in the United States. With offices in North America, Europe, Australia and Asia, Wiley is globally committed to developing and marketing print and electronic products and services for our customers' professional and personal knowledge and understanding.

The Wiley Trading series features books by traders who have survived the market's ever changing temperament and have prosperedsome by reinventing systems, others by getting back to basics. Whether a novice trader, professional or somewhere in-between, these books will provide the advice and strategies needed to prosper today and well into the future.

For a list of available titles, visit our Web site at www.WileyFinance.com.

Cover image: iStock.com / PeskyMonkey
Cover design: Wiley

Copyright 2014 by Fausto Pugliese. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey.
Published simultaneously in Canada.

No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 646-8600, or on the Web at www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-6008, or online at http://www.wiley.com/go/permissions.

Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. No warranty may be created or extended by sales representatives or written sales materials. The advice and strategies contained herein may not be suitable for your situation. You should consult with a professional where appropriate. Neither the publisher nor author shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages.