Alex Preda (Author of Framing Finance)
How to Trade Around Financial News and Economic Releases
Noise: Living and Trading in Electronic Finance
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Noise : Living and Trading in Electronic Finance. Alex Preda. Alex Preda is an ethnographer, but unlike many of his tribe, his fieldwork was done, not with the dispossessed, but with white-collar entrepreneurs. The result is an ethnography of noise in electronic finance. What this means is not noise as the uproar and commotion of trading pits, nor as something annoying, irrelevant, random, or incomprehensible. Neither the literal nor the mundanely metaphorical are his starting point, although both merit a closer look.
People lost money for one reason: they failed to sell. There's no safe haven where you can buy a stock and forget about it. Have you lost faith in the individuals and institutions that recommended your investments? Are you looking for a better way? This rare, realistic book offers a, unique, practical alternative depending on others for advice and to the risks, effort, and time involved in managing a stock portfolio yourself. This book is specific - instead of the usual bland list, the author escorts you into the internals of websites with down-to-the-mouseclick procedures for extracting what you need to make clear-cut decisions.
During my ethnographic journey, I heard a good number of academics say that noise trading is to a large extent tied to the "day trader" phenomenon of the late s, which in its turn was conjoined at the hip with the "dotcom bubble" and the "Internet mania" from about 15 years ago. Often, when I presented my research to academic audiences in the years to , whether the scholars were from sociology, from accounting, or from finance, one of the first reactions was "Oh, you are dealing with day traders! Closer to , newspaper reports were signaling with some degree of surprise "the comeback of the day trader. This was much more ambitious than just earning a few dollars of additional income. Although there is no official definition, making a living from trading implies earning consistently, and earning an amount of money that should be at least equal to the minimum if not the average income of a trader's country. At least as relevant is that such an assumption implies not only regular but very frequent trading, as well. It is difficult to imagine "making a living from trading" for somebody who, say, buys or sells every year just a few financial instruments.