Rs7 and nemsy, thanx for both your input. Its great to hear to different kinds of opinions. Thanx both of you.
I want to know from some of you very experienced traders how much TA you would use in day trading......with a very short time horizon, no overnight positions....Im talking in a day maybe 300-500 trades (counting in and out). Are indicators like stochastics, DMI, etc usable over an intraday period with very short times in positions (5 seconds to 10 minutes).??? If so which TA methods are best? Thanx
Go to www.pristine.com and order the tapes or CDs "Swing Trading with Oliver Velez" and also "Micro Trading Tactics with Oliver Velez" about 90 minutes each. They are only about $50 each. If you can only get one, get the Micro Trading, but you should get both and watch the Swing Trading one first. This is the cheapest best beginning education for a beginning trader I know of. These might be the best investments of both time and money you ever make. I have read and bought much of what is out there. Then open up a small direct access trading account and start doing some small swing trades. There is absolutely no reason not to start now (IMO), if you are serious. I hope you take this advise. Good Luck
I want to hear more about that photo reading rtharp is talking about. I read a few books on speed reading and they didn't work that well. I still couldn't get that voice in my head to shut up that reads along with you sometimes...how does this differ...your mind just photographs the pages. So are you also able to easily read/memorize/retain whatever ticker symbols and things like that. I have traded with guys that could remember price levels or where a stock closed two weeks ago to the penny. I wish I could do that. So can you recommend the course you took. I still don't belive it will work for me but who knows....it might anyway I want to see if someone is selling it on ebay or something. Cheers.
The Photoreading Whole Mind System by Paul R. Scheele http://www.amazon.com/exec/obidos/search-handle-form/102-7292242-6406568 Cheaper than the $200 course. I find that the effectiveness depends on the complexity of the material. Simpler material is easier. Prose is easier that math and/or detailed procedures. But my results maybe due to the fact that I read the book and did not take it in a course. (I might be doing something wrong.) I remember the old Father Guido Sarduci jolk about saving money by getting a college education that consisted of only the handful of things you remember years after your been to college. Sort of reminded me of that. Your conscious mind doesn't remember a thing about what you read? Don't worry, your subconscious mind remembers it all for you! I tried to photoread Alan Farley's The Master Swing Trader. Didn't get it. Then I read it the normal way and found out I just wasn't getting Farley at all. Lots of zen-like koans in Farley. I'm reading Tony Oz now. Much easier to understand.