Noise: Living And Trading In Electronic Finance by Alex PredaNoise: Living And Trading In Electronic Finance by Alex Preda

Noise: Living And Trading In Electronic Finance

byAlex Preda

Hardcover | March 1, 2017

Pricing and Purchase Info


Earn 683 plum® points

Prices and offers may vary in store


In stock online

Ships free on orders over $25

Not available in stores


We often think of finance as a glamorous world, a place where investment bankers amass huge profits in gleaming downtown skyscrapers. There’s another side to finance, though—the millions of amateurs who log on to their computers every day to make their own trades. The shocking truth, however, is that less than 2% of these amateur traders make a consistent profit. Why, then, do they do it?

In Noise, Alex Preda explores the world of the people who trade even when by all measures they would be better off not trading. Based on firsthand observations, interviews with traders and brokers, and on international direct trading experience, Preda’s fascinating ethnography investigates how ordinary people take up financial trading, how they form communities of their own behind their computer screens, and how electronic finance encourages them to trade more and more frequently. Along the way, Preda finds the answer to the paradox of amateur trading—the traders aren’t so much seeking monetary rewards in the financial markets, rather the trading itself helps them to fulfill their own personal goals and aspirations.
Alex Preda is professor at King’s College London. He is the author of Framing Finance: The Boundaries of Markets and Modern Capitalism, also published by the University of Chicago Press, and coeditor of the Oxford Handbook of the Sociology of Finance.
Title:Noise: Living And Trading In Electronic FinanceFormat:HardcoverDimensions:264 pages, 9 × 6 × 0.9 inPublished:March 1, 2017Publisher:University of Chicago PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:022642734X

ISBN - 13:9780226427348


Table of Contents

Introduction: The Ethnography of Noise in Electronic Finance

1. Noise in Financial Markets
2. How Does One Become a Trader?
3. Taking On the Market: Competitions and Spectacle in Trading
4. Rituals and Illusions of the Trading Screen
5. Talk in Trading, Talk for Trading, Talk of Trading: Group Communication in Electronic Markets
6. Trading Strategies
7. The Lives of Traders

Conclusion: Bourgeois Freedoms


Editorial Reviews

“What leads normal people to trade stocks with their own money, even though they are likely to lose? If they keep losing, why don’t they quit? And how do we connect with people for whom some of their most important actions consist of tapping at a keyboard and staring at a screen? Preda reveals the hidden abode of the ‘noise trader’ in a sympathetic first-person account of this durable and even essential part of our financial markets.”