DNEELY777

I love both the Mark Douglas books mentioned above but, in the interest of limiting ourselves to three books only, I would choose The Disciplined Trader: Developing Winning Attitudes, as my first and most important selection. Next I would suggest Van K. Tharp's, Trade Your Way to Financial Freedom. The first two were quick and easy picks for me to make. Deciding on the third, from the dozens of worthwhile books available was a bit harder. I guess I'll go with Dr. Alexander Elder's, Come Into My trading Room: A Complete Guide to Trading, as my number three choice.

Books by Martin Pring or John Murphy will help you sort out indicators from oscillators. Oscillators such as RSI, CCI, Stochastics and Williams %R are popular for range bound instruments. All indicators are only decision support tools, not decision making tools. Your trade decisions should be based on price action it's self. Indicators are derivatives of price and sometimes volume and time as well. Go to the source, price. Use support and resistance, trendlines and momentum ( a mixture of time and price ) to make your decisions.