The Prop Trader's Chronicles: Short-Term Proprietary Trading Strategies for Both Bull and Bear Markets
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More About This Title The Prop Trader's Chronicles: Short-Term Proprietary Trading Strategies for Both Bull and Bear Markets

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Francis James Chan is a Canadian-born proprietary trader who specializes in U.S. equity markets with experience in index futures, foreign exchange (currencies), and options spreads. His career began at Swift Trade Securities in 2006 where he learned the craft of modern tape reading, double auction market theory in practice, and destination selection techniques. Having lived and worked in both Toronto and New York, the major financial centers of Canada and the United States, he has customized and implemented semi-automated trading systems for branches of notable proprietary trading firms including World Trade Securities, Hold Brothers, and Title Trading. Mr. Chan currently lives in Hong Kong where he trades U.S. stocks for Delta Capital Group and serves as managing director of Atrium Asset Management.

English

Preface ix

CHAPTER 1 Eat a Percentage of What You Kill 1

CHAPTER 2 A Swift Reality Check 9

CHAPTER 3 The Basics of Double Auction Markets in the Real World 21

CHAPTER 4 Introduction to the ECN Platforms and Order Routing 29

CHAPTER 5 Dark Pool Liquidity and Alternative Trading Systems 41

CHAPTER 6 Combining Level 2 and Time & Sales: Reading the Consolidated Tape 47

CHAPTER 7 Week One on Live Trading 55

CHAPTER 8 Losing $30,000 in Under a Minute 71

CHAPTER 9 Trading with a Real Edge 79

CHAPTER 10 The Psychology of Profitable Trading 91

CHAPTER 11 Choosing a Proprietary Trading Firm 107

CHAPTER 12 Strategy Diversification 117

CHAPTER 13 Volatility and the Crash of 2008 127

CHAPTER 14 Building Blocks of Trading Strategies 133

Glossary 141

About the Author 149

Index 151

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