<b>A practical guide to profiting from the strategies of professional proprietary traders</b><p>Today's technology allows traders to make faster, more price-sensitive trades and to better read the flow of market information and transactions—opening the way to a wider variety of short-term trading strategies. <i>The Prop Trader's Chronicles</i> unveils these strategies and techniques, which have long been the province of proprietary trading firms and other professional stock traders.<p>This reliable guide describes author Francis Chan's experience as a prop trader in an engaging narrative, but at the same time provides an in-depth explanation of strategies employed by proprietary traders utilizing direct access technologies, Level II quotes, time and sales feeds, and electronic communication networks. Along the way, you'll be introduced to a variety of strategies involved in the rapid day trading of stocks, including: scalping, rebate trading, and advanced reading of time and sales transactions to detect short-term swings. Chang also reveals how to use time and sales data as the modern-day equivalent of 'reading the tape.'<ul><li>Shows active independent traders how they can perform at a higher level by replicating the professional strategies of prop traders</li><li>Offers valuable insights on how traders can 'read the tape' and better detect short term market swings</li><li>Describes a variety of prop trading strategies, from electronic scalping to statistical arbitrage</ul><p><i>The Prop Trader's Chronicles</i> provides a solid foundation for traders looking to improve their performance. With this book as your guide, you'll quickly discover what it really takes to make it in today's competitive markets.