I was looking through book catalogues and databases when I noticed something: most books about direct access "electronic day trading" for retail traders were published between 1998-2002, with little afterwards. Examples of the more popular titles are:

  • The Electronic Day Trader by Marc Friedfertig, George West — published in 1998.
  • How to Get Started in Electronic Day Trading by David Nassar — published in 2001.
  • Financial Freedom Through Electronic Day Trading by Van Tharp, Brian June — published in 2001.

If not mistaken, this "electronic day trading" involves direct market access to NASDAQ. I am surprised that there is little of this material after 2002.

What is the reason? Was that style of trading just a fad, or were there structural changes to the market that after 2002 that made the trading method obsolete? What were the structural changes? Did the rise of quantitative finance have a role?


1 Answer 1


"What is the reason? Was that style of trading just a fad"

Doesn't seem surprising that day trading was more popular during a bull than a bear market. I'd guess you'd see the same effect cross-country (e.g. China 2014/2015). Also worth noting that volumes in NDX had peaked in 1Q01 and declined consistently until ~2004.


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