Hi all
Can anyone recommend some good books that would take me to the next step?
This is my status:
I would like to start trading futures.
So far I have a basic understanding of:
risk (3-5% of my principle on any 1 trade - use stop orders), the ratio of profitable to loss trades (4:6), protecting my principle (trade 20% of margin at any one time), profit ratios (1:1.5-2).
I intend to focus on using technical analysis BUT I don't have any entry, exit strategies formulated.
I have time to day trade but thought it better to start out with swing trading.
I have a small principle (that's why I chose futures over stocks).
I thought the next step would be learning to read charts and I was considering these books:
Schwager, Jack D Technical Analysis (Schwager on Futures)
Schwager, Jack D Study Guide: Technical Analysis (Schwager on Futures)
John J. Murphy Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications (New York Institute of Finance)
John J. Murphy Study Guide: Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications (New York Institute of Finance)
Richard J. Teweles (Author), Frank, J. Jones The Futures Game: Who Wins, Who Loses, & Why: Who Wins, Who Loses, and Why
Thanks in advance for any advice.