Net Trading by Alpesh Patel
Published in Paperback (2000)
By Pearson Education Ltd
ISBN 0 273 64502 1
380 pages

Reviewed by Lopa Patel
Rating: 4 flames
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'Net Trading' is absolutely essential reading for traders, would-be traders and those interested in the concept of trading online. If there courses in such a subject, this book would its de facto text book.

Written in Alpesh's delightful chatty style I felt that it takes the mystique out of trading. In Section 1, some 26 pages, he explains the different psyche of short-term traders, day traders and those who would be best suited to a longer term (buy & hold) strategy. The topic is crammed with helpful tips and suggestions from those who have spent their entire lives investing.

Section 2 examines trading systems - partly to do with your strategy and partly about computer software. The book compares the various online products and he outlines the benefits of one over the other.

Section 3 is much meatier and discusses the issues of strategies for trading stocks, futures and options. The beauty of this book is that Alpesh has used extracts from bulletin boards that are pertinent to topics being discussed. There are humorous quotations and paragraphs are broken into meaningful segments. An effect that is much appreciated when you feel your eyelids getting a little heavy or your attention wondering to the TV screen. For an academic tome it is as easy to read as fiction.

I must admit that the whole section on the interpretation of charts left me nonplussed. The descriptions of Japanese candle sticks, "cups and handles" and "bollinger bands" left me wondering if I was reading Alice through the looking glass. You know, "curiouser and curiouser"! Suffice to say that for someone who cannot add up two plus two in her head, the book tries extremely hard to explain it all in plain English.

Section 4 is devoted to day trading and comes with its own "wealth warning". For those considering giving up their day job I would definitely suggest reading this chapter several times before typing out your resignation letter.

I perked up by Section 5 when we started the "nitty gritty" of finding a good broker. I felt that Alpesh shares a good deal of his own personal skills, sweat and tears in this book. His recommendations for sites, software and bulletin boards can only have come from sheer hard work.

By Section 8 we are backing to discussing trading psychology for online trading. But this time with nearly three hundred pages of the Alpesh Patel's wisdom behind us.

The glossary explains some of the charting techniques and fills in details. Entitling the book's jargon buster "Smug Traders Glossary" is guaranteed to ensure you read it first.

The book is peppered with witty quotes. My particular favourites included "The road to riches is paved with boring old concrete"; "Just because you day trade does not mean you have a passport to 'richesville'" and "Online trading deserves our respect or it will have our money. Frankly, I will give it respect - it's a lot cheaper".

The book is on that you can read from cover to cover or savour according to your particular reading style. Often I found myself dipping into a chapter and reading about a very specific issue (OK, so I admit it will mainly the charting bit!).

Priced at £25.00 it is a great read and excellent value money. BUY IT.

Click here to buy this book today!