Understand The Playing Field


Though Internet day traders have advantages today that they have never
before had in trading, they are still at a slight disadvantage compared to the
“real” players in the marketplace, namely, the market makers and the
specialists. The Internet day trader is on the outside, not the inside.
Successful day trading requires an acceptance of this reality.

-Christopher A. Farrell, from


Day Trade Online
(1999, John Wiley &
Sons, New York).