Study

[stevehaydn 10]

hi everyone,

 

what would members recommend as next step study having read master the markets?

 

regards

 

steve

[monad 10]

Get hold of :

 

1. High Probability Trading by Marcel Link

2. Techniques of Tape Reading by Vadym Graifer et al

 

Latter is not about time and sales but more on how to read price /volume and keeping it simple to a few setup

 

Then focus on the Wyckoff forum , study the case history (1930-31) by Wyckoff (pdf file available free) and get Dbphoenix's publication in form of an e-book. This will provide great insights into price and vol relationships.

Then there is also Brownsfan forum on candlesticks where simple setups have been illustrated.

 

and most important of all

3. Trading in the Zone by M. Douglas, this is 90% of this business, total understanding of probability and uncertainty of markets is paramount, ignore this aspect at your peril, you may become an expert at all the technical analysis and be able to read price/vol bar by bar like those at Tradeguider, however without the right mindset, well...............

 

This should keep you busy for a while.

Finally you could learn about Taylor Trading method, his book is pretty difficult to slog through, however there is enough here to get you started. This will allow you to plan your strategy for the day in advance and focus only on certain setups as per the rules for a particular day ie. Buy day, Sell Day or Short Sale Day. But once again reiterate first learn some basic from previous books , this comes later.

 

That is all you should ever need.

Remember it is all about keeping it Simple. Intraday trading is difficult as it is, burden yourself with all unnecessary info. and you will suffer from paralysis.

 

All the best

Edited May 6, 2009 by monad