i am new, where is a good starting point?

Discussion in 'Trading' started by SoCalHeli, Mar 4, 2004.

  1. as the topic says, i am just getting into trading short term, what should i look for, what should i read? where should i go for more info...thanks in advance.

  2. Go to your library and ask them to borrow these books for you, if they don't have them.

    Edwards & Magee
    Technical Analysis of Stock Trends.

    Tony Oz
    Day Trading Wizard
    The Stock Trader
    How to Make Money From Wall Street
    Stock Trading Wizard.

    Download the Medved Quote Tracker off of the Net
    Get an Account with Interactive Brokers for quotes.

    Regards and welcome to Elite Trader

    Ps Check out the chat room during the day. If you can sift through the bullshit you might learn something there too.
  3. thank you very much, i am headed to the library right now, and thanks for pointing out the chat room...i didnt notice it up there. hehe
  4. well just got back and they didnt have any one of them, and the technical analysis of stock trends they only had teh 6th edition....hymmm would it be worth my time to buy buy these books from amazon? thanks
  5. If you have not read anything on Technical Analysis then I would say buying the Edwards and Mcgee book would be worth it as the first time you read it you can hi-lite as you go along and then re-read the hilited parts and it is a book you will refer to for a long time if you stay with this.
    As to the others mentioned, it depends on your finances as well as how much of the material will stick with after reading them and returning to library, you may want to see if they can do an inter-library loan, check them out, read them and then decide if you want to order each particular one for your reference library.
  6. check tradersbrain.com. if they have them, you can borrow them for the postage.
  7. i noticed on amazon that there was an 8th edition, the online library and the one by my work only have the 6th edition...is there much of a difference? thanks
  8. Haven't read the 6th edition, only the 8th, the original was published 40 or 50 years ago so the major difference may be in the editing, which goes on throughout the book. It (the editing) has merit of it's own but the bulk of the material is still in the original text and as relevant now as it was when it was written. If you are borrowing it, I think reading the 6th will probably be fine and you may decide at that point to go ahead and buy it anyway, this isn't a quick read and can seem daunting if you haven't got any background in chart analysis before going into it, but it is well worth the time and effort.
  9. Welcome to ET. In case if you don't know, there are many losers and winners on ET. A good start point would be read, respect, and follow the winners.
  10. mtngem


    Wooo hooo I'm in the know. What an ego booster. Here I am wet behind my ears and I have a little something to pass on. Rofl.

    Yes I am an upstart and I am new to trading. Oh sugar are you going to be confusedddddddddddddddddddddd. What you need first is a good simulator. That is a fantasy stock market game where you can trade fake money on the real stock market.

    youngmoney.com is where I got my start. I made as many mistakes as I could and it didnt cost me a red cent. Nothing like getting successes under your belt. To give you confidence, and if you fail, it was all monopoly money.

    You will have to hold some of your positions at least a few days as its 20 minutes behind the market. And you can only trade stocks over 5$ with at least 100k average volume. But if your making money with that. You know your on to something.

    "Rule the freakin Markets," by micheal parness is a must!!! Omg the book rocks. It tells you what to actually look for and how the market actually work.s

    There are two other books that will give you your foundation, that I have to look up.

    Here are 5 books suggested by a friend who is a wiz at T/A. When they say the market is going to do something, it does it.

    Books to read about stock market.

    There are many good books on technical analysis and a few great ones. Here are some essential books, IMHO, for anyone interesting in technical trading.

    Steve Nison, "Japanese Candlestick Charting".
    This is a MUST read for any technical trader and is considered a classic. Nison is almost single-handledly responsible for bringing Japanese candlestick analysis to the west.

    Mark Douglas, "Trading in the Zone: ..."
    This book is mostly in the psychology of trading, but I strongly recommend it. IMHO, the real secret of successfully trading in not in intellect, but in pyschology and discpline. This book will help with this. Every experienced trader I know has read this book.

    Thomas Bulkowski, "Encyclopedia of Chart Patterns"
    A must have reference. Covers most of common trading patterns including well know ones such as head and shoulders, cup and handle, pennants, as well as not so well know ones such as measured moves, horn tops and bottoms, etc.

    Some other good books are ...

    George Fontanills and Tom Gentile, "The Stock Market Course"
    A very good book that does a masterful job of discussing all the techniques and terminology of trading including fundamental analysis, option trading, and broad market analysis. Not devoted to technical analysis, per se, but a very good book.

    Oliver Velez and Greg Capra, "Tools and tactics for the Master DayTrader"
    Kind of a classic than includes discussions on pyschology of trading as well as some technical patterns to trade from.

    Good to start you off. I wouldnt get too overwelmed with info right at the beginning. theres nothing like practice. So grab a simulator/stock market game and jump in. =D


    A couple of real helpful charts, foundation of T/A

    The point and figure chart and the candlestick or bar chart.


    Until you learn to read a candlestick chart this site is a great help. Found it pretty good with in a few cents.


    Rember to check to see when earnings is so you dont buy in just as it spikes and get left high and dry, and make sure you dont chase prices, let them come to you.

    You will need a good direct level 2 access connection to do any decent trading.

    I my self am in the middle of looking for one.

    Have fun. And don't forget your black ninja socks. =D

    Btw thanks to everyone that has posted. Its helped me too.

    Learn to use a stock screener then go to finance.yahoo.com and check out the stocks. Yahoo has a stock screener to find stocks and you can make your own watch list portfolio.

    #10     Mar 4, 2004