For most individual investors, taking a long-term buy and hold approach is probably the best strategy. Most of us simply don't have the time or the expertise to trade for a living. But, for some investors trading can be an extremely lucrative profession. Regardless of your opinion, it's tough to deny that there are many who make a good living out of it.

There have always been professionals who made their living off trading. Though, it wasn't until recently that technology enabled individuals not working for a brokerage access directly into the markets. This tutorial will delve into the working of the electronic systems that allow direct access. We'll also talk about the differences between the NYSE and the Nasdaq, in terms of how trades are executed with a market maker versus a specialist.

Whether you are an aspiring trader or an investor looking to see how it all works, this tutorial explains all the nitty-gritty in a layman's language.

If you aren't familiar with stocks and trading on the stock market, we suggest you read the stock basics tutorial before continuing.

Next: 1. The Nasdaq Versus the NYSE