bro... IMHO your comments rank among the most absurd I have ever heard on ET, on in any other trading forum! So let us see now... acording to you... trading books of any kind or nature have no merit, no value and cannot assist one to perform their occupation better ??! Ok....... I think I get it now! :eek: :eek: Sounds like an opinion from a real trading genius?! ICe
Here I suspect a member of academia. (see below) Interest=trading research LOL Probably still believes the market is efficient too. Contact drprotrader: Click here to email drprotrader Send drprotrader a Private Message! Add drprotrader to your buddy list Add drprotrader to your ignore list Homepage: Referrals 0 ICQ Number: AOL Instant Messenger Handle: Yahoo Instant Messenger Handle: MSN Instant Messenger Handle: Biography Location Interests trading research Occupation
My comments are primarily related to making money. I read a book in 1957 to start making money. 4th Ed of Edwards and Magee. (It is now in 7th ED or so.) I am only an amateur so I don't regularly circulate among pros or the industry. I haven't read books 1,2,4,6,7,8,9,13,14,18 on your list. I have several of them because they were given to me. I am a contemporary of Darvas and frequented his habitats at that time. Making money was very easy in those days; I used TA then and now. I have a list of books that I used to recommed (34) a few years ago. ET is not oriented to such. And reading is not such a swift way to learn to make money. For example, there is a list of 30 some steps related to making money elsewhere. There are about 8 steps really. I over printed them on that list and then it failed to stick to the thread. This, then, is a distaff post on books, etc. Most of the posts here are diverse and not helpful to any extent. If a person were starting from scratch and wanted to learn to make money, the most important thing of all is to not follow in the footsteps of the ET traditions espoused here. You cannot imagine how damaging it is to do that. By reading posts here and there, it is fairly clear in ES terms that a lot of ET people are wedded to making a daily average per contract of about a point. I have most of the books and they are not very good, except for a few. They showed up at my place when they were written, mostly. I can't objectively judge them as beginner resources because I am already a person who is making money from the markets. Their overall quality is poor from a general point of view. Not for making money, but for understanding something about how things work, I would recommend the following. Edwards and Magee instead of Murphy as a "text". HTMMIS by O'Neil as a way to learn about the baggage you currently have that will screw you up right off. (See the last chapter entitled 18 Common Mistakes Most Investors Make. Convert it to a lanscape chart and fill in a column periodically that tells you what repairs you still have to make. All 18 mistakes appear everyday in ET in posts. Get a copy of Echelis, Technical Analysis from A to Z. Get a china marker (sharpie) and cross out all defualt designer coefficients. Replace each and every one with a post PC advent value. You are screwed if you use the original defaults. Use the sharpie to cross out all such defaults you find in any and every other book as well. Mark up every page of Schwager's books where you read something in quotation marks. Tab every idea in each book with the a name you choose for each idea you find. Put in your journal the page number from Schwager each and very time you happen to write the name of an idea in your journal. Get franklin's autobiography. There are 13 virtues in it that he practiced, a new one each week and a complete rotation every quarter. Keep in your journal your weekly excuses as to why you do not do as Franklin did because you are so lazy at this point. Get Chopras SSLS. Reorient yourself from this point on instead of how you currently behave. Get Idries Shah's KHTK. At some point making money becomes important. You will need to figure out a few things about the concept of making money and how you can relate to that. You can see by the posts that few here know how to do anything. A clue is that they are demonstrating (criptically usually) that they do not have any idea at all. If you spend some quality effort on stuff, you will find yourself pointed specifically in one direction. This new orientation is the one most people arrive at just before they begin to make money. Almost no one in the trading world does it any other way. What you need to begin will show up when you are ready to ............learn.
For the books on technical indicators or methods on how that particular author trades, don't take it to heart. Buzzy's Pit Bull is entertaining, but trying to find arb opportunities like those isn't realistic. The most valuble thing you can draw from books is the psychology of the traders. Listen to what they say works and what doesn't work. Often times I feel like throwing away all the books I read about candles, TA, systems, pricing models, etc because what works for one person probably won't work for you. It's all about psychology.
What you are really looking for is a way to make money... What you are really trying to do is to make accurate short term price movement predictions based on what your are visualizing on an edat system.... I do not know of one book regarding daytrading whereby the facts are known as to the blotters and statements of the author....that the author has made any money daytrading...There are quite a few who seek to gather a following by selling a book because its cheap...more people will do it...which gives a form of presence or familiar information when a person makes a decision about buying other things such as seminars...other books..using edat systems...etc... There are some hedge fund data services that provide performance statistics....which will suggest that most traders cannot sustain a continual high record of return... There is a big catch 22 in the daytrading game...if you are successful...you cannot give what you do away...nor would you want to sell it...because if you do...it most likely will not work in the future... Returns in equities are generally staggered as to performance records... mutual funds < hedge funds < successful daytraders You will find records on mutuals..hedge funds...but not likely daytraders...they have no incentive to give it to you... So there you go...with luck you may find a good trader who has real blotters and records that ...just might help you.... Or you can hope ..that the person that wrote the book...has real daily blotters and statements...and that what you are reading...is worth reading....I have never seen such proof...but there are a lot of folks selling books...seminars...tapes..cds..commissions,,,that hope you believe that they are successful traders...lol...real performance suddenly becomes a sore subject....
Or you can stop expecting somebody to give you something and test it yourself. Even if someone were to provide you with what you consider to be satisfactory "proof", it would do you no good as you would not achieve the same results. So what difference does it make?
I beg to differ. I'll post a link to the confirmation of my trading result for the year 2003 as soon as it's up on the website, on this very thread.
Doesn't really matter. Somebody will claim you faked it, and then we can travel down that well-worn road again.
Yeah, this is possibility. Well, then I will suggest them to phone my broker. And if they assume we are conspiring together, I'll suggest them to look up "paranoia". Obviously you can't prove anything to those who have made up their mind in advance... but fortunately, it's not my major priority, either Still, I promised to post it short while ago, and I will post it. Vad