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strong, and quick adapted to survive while the stupid, weak, and slow perished. Darwin theorized that survival of a species was based upon genetic advantages to the improved species due to mutation and adaptation to the environment over a long period of time. This biological theory of natural selection passed into the business climate of the United States in the late 1800s with the advent of the robber barons, who generally made an art form of lying, cheating, and prospering. |
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In theory, the age of the robber barons pretends to have ended largely as a result of governmental intervention designed to protect businesspeople from each other and to protect consumers and investors from the presumably predatory nature of businesspeople. But the concept of the survival of the fittest continues. Even today, we believe that the race is won by the fast, and in business we give credence to the cult of the astute. Friends flaunt patronizing the ''biggest" doctor, the "smartest" lawyer, and the "best" stockbroker. No one boasts of having the most inept doctor, stupidest stockbroker, or dumbest lawyer. In truth, today humans don't have the time to adapt to the rapidly changing world by the process of mutation. We survive by creating our own environment, inventing tools, being mutually cooperative, and learning new skills. The competitive nature of business in today's global economy demonstrates that you must be trained for success if you have any desire to succeed before the market cleans your clock. |
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Training begins with understanding bid/ask pricing, market-maker recognition, and reading the Nasdaq Level II tape. As you get more familiar with these data, you will quickly learn what the objectives are. At this point, getting comfortable with these fast-moving data is essential. The objectives are quite obviousbuy low, sell high or sell high, buy low. A new DAET trader observes developing trends, and in a relatively short period of time is usually ready to jump in and trade. But not yet! The neophyte should trade, but only "paper-trade," meaning |
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