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The Market Maker's Edge

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Title: The Market Maker's Edge
by Josh Lukeman
ISBN: 0-07-141274-3
Publisher: McGraw-Hill Trade
Pub. Date: 24 February, 2003
Format: Paperback
Volumes: 1
List Price(USD): $19.95
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Average Customer Rating: 3.74 (38 reviews)

Customer Reviews

Rating: 5
Summary: If You Trade, Avoid This Book At Your Own Risk.
Comment: This book is well written and very simple to understand. I've been trading full-time for the past 3 years and have done very well. However, this book enabled me to simplify my trading screen and eliminate many technical indicators. My performance has improved--with less stress. The Holy Grail to successful trading doesn't exist, so stop looking for it. But if you want to learn (or reinforce) some sound trading principles and see things from a market maker's perspective, this is an excellent book.

Rating: 3
Summary: Decent overview, lacks market making detailed techniques.
Comment: Lukeman provides a well organized but basic introduction to trading techniques, many of which are available from numerous financial web sites. What is lacking is the real nitty gritty tactics of market makers. How they really "get involved" by working institutional orders, retail order flow and their own inventory. "Tactics" like late prints on follow up orders, front running firm inventory, headfakes, trend fading , stop gunning, bid slamming and dozens of other trading techniques which are the real "Market Maker's Edge." Lukeman should write a follow up book: " The Inside Edge: Market Maker Tactics." Give the real dope! Spill the beans Josh!

Rating: 3
Summary: Not too bad..
Comment: Positive aspects of this book:

- provides great common sense / simple ideas regarding some market basics (don't get me wrong, common sense / simplicity is probably one of the keys to becoming a top trader);
- quite well written / organised; and
- covers basically all the key areas a trader would need to know

Problems:

- charts are really badly referenced.. eg some are on other pages, some are incorrectly dated in the text, some are just plain ambiguous when referred to; and
- as an experienced trader, i didn't really learn much especially the commentary from the market maker's point of view, since it is usually quite obvious and common sense based.

Gotta say though, this is a good value book and would be OK to read as one of the beginner texts..

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