A 5k account, making 500/month, which is 10%. And = 120% a year. For starter. I admire your ambition.
K, just bought a pretty cool book, I hope. It comes as an ebook as well. High Powered Investing all in one for Dummies. 10 books in 1 so at least I got a good value.
Agree with this. And would also add that the greatest hurdle to consistant success is psychological: overcoming emotional impulses that will distort your view of the situation and force you to make irrational decisions. By the way, I do not think , in my limited knowledge of the area writing automated trading systems is the way to go. You can spend years 'chasing shadows' and spend a fortune. Trading is not that difficult if your emotions are in check and human intelligence will always be superior to stupid robots that cannot adapt to rapidly changing market sentiment. Like the great segovia (spanish guitarist) said 'like the great oak tree, my roots are deep (mental discipline) but I can express myself with the fluid motion in the higher branches (adaptation and market reaction). Just my friday night (UK) thoughts.
I totally agree with yall. My question is - wouldn't it be good to at least know what a "trailing stop" is or what is the difference between an exchange and an index? That's the book I am looking for...not the "how to make cash in 3 easy steps" book, but the "what the heck does that mean" book.
How to trade in Stocks by Livemore. I have his Security Analysis ; it put me into sleep every time i read it. the language just felt like a gospel.
"Trading for a Living" by Elder "Mastering the Trade" by Carter "Forex Patterns and Probabilities" by Ponsi "Trading in the Zone" by Douglas anything by Jack Schwager
Here is a little gem that I find to be very helpful for selecting rational targets on any time frame. It is short, but worth every penny IMHO. You have to be able to clone a trend line with your software for ease of use. It does not get the target right every time, but gets you out near the peak often enough to make it worthwhile. You can get it online, but I bought it directly from the author, who will send you an autographed copy. "Precision Trading with Stevenson Price and Time Targets" by J.R. Stevenson If you go to the author's website, you can get an idea how the technique works and buy directly from him: http://ptt.50webs.com/method.html Or you can buy it at Traders Press for the same price. http://www.traderspress.com/detail.php?PKey=380
I want to get started in the forex trading market, but I don't know where to start. I want to buy one of those programs that will do the trading for you. I found a website that has a bunch of them on it. The site is www.rightnowreview.com Can someone please tell me which program is best for me?