I'm currently reading Getting Started in Technical Analysis, Jack Schwager- and my next book from here is The Art and Science of Technical Analysis, Adam Grimes. It feels like a large jump between the two.
Any suggestions on books/forums/videos/etc. for learning tech analysis and developing strategy?
Any suggestions on books/forums/videos/etc. for learning tech analysis and developing strategy?
Jan 30 2017 at 07:13
Yeah. Ditch the technical analysis. It's useless in fx. Half of the indicators are volume based for starters and there are no accurate volumes for fx.
Secondly you're trying to apply linear methods to non-linear systems in an information age where guys like me are doing a few million calculations a day. You want to pitch up to the fight with a couple of lines ?!
Secondly you're trying to apply linear methods to non-linear systems in an information age where guys like me are doing a few million calculations a day. You want to pitch up to the fight with a couple of lines ?!
Jan 30 2017 at 08:04
In my opinion:
First:
The Richest Man in Babylon Paperback – January 1, 2002
by George S. Clason (Author)
Second:
Trend Following (Updated Edition): Learn to Make Millions in Up or Down Markets, Kindle Edition
by Michael W. Covel (Author)
Third:
Reminiscences of a Stock Operator Paperback – January 17, 2006
by Edwin Lefèvre (Author), Roger Lowenstein (Foreword)
Fourth:
Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude Hardcover – January 1, 2001
by Mark Douglas (Author)
Then Write a Budget (your home budget) you have to know where you are to know where you are going... and a trade rules sheet and a daily goal sheet ... set small goals and adjust things till you can do whatever it is without to much thinking, then fill your laptop with podcasts music and books to keep you entertained while you learn how to follow your rules.
Rules of the Trades: My routine
https://drive.google.com/open?id=0B9laeB3-TXbXbXhVYjgzU2h2N0U
Spreadsheet for the Rules: My Routine
https://drive.google.com/open?id=0B9laeB3-TXbXYktud0JHTnVKTkk
It has to work for you... keep your time, personality, fears and all of it in mind
Good luck in everything you do
Fred
First:
The Richest Man in Babylon Paperback – January 1, 2002
by George S. Clason (Author)
Second:
Trend Following (Updated Edition): Learn to Make Millions in Up or Down Markets, Kindle Edition
by Michael W. Covel (Author)
Third:
Reminiscences of a Stock Operator Paperback – January 17, 2006
by Edwin Lefèvre (Author), Roger Lowenstein (Foreword)
Fourth:
Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude Hardcover – January 1, 2001
by Mark Douglas (Author)
Then Write a Budget (your home budget) you have to know where you are to know where you are going... and a trade rules sheet and a daily goal sheet ... set small goals and adjust things till you can do whatever it is without to much thinking, then fill your laptop with podcasts music and books to keep you entertained while you learn how to follow your rules.
Rules of the Trades: My routine
https://drive.google.com/open?id=0B9laeB3-TXbXbXhVYjgzU2h2N0U
Spreadsheet for the Rules: My Routine
https://drive.google.com/open?id=0B9laeB3-TXbXYktud0JHTnVKTkk
It has to work for you... keep your time, personality, fears and all of it in mind
Good luck in everything you do
Fred
Jan 30 2017 at 09:11
tinasaree posted:
I'm currently reading Getting Started in Technical Analysis, Jack Schwager- and my next book from here is The Art and Science of Technical Analysis, Adam Grimes. It feels like a large jump between the two.
Any suggestions on books/forums/videos/etc. for learning tech analysis and developing strategy?
The Art And Science is a very good book I wish I read it when I started, there are podcasts and a free trading course as well.
Elder - The New Trading For A Living, good book for starting TA.
Jan 30 2017 at 09:16
Elder selling books for a living, no ?
Jan 30 2017 at 14:20
theHand posted:
Elder selling books for a living, no ?
What does that mean?
Jan 31 2017 at 01:22
Means he can't make technical analyses work either or he wouldn't be earning a living from selling his books now would he ?
In an age of robots pitching up to the fight with a ruler and a pencil doesn't cut it. Most technical analyses ideas are over 100 years old. Thing like moving averages for example. They belong to a different era.
Fx pairs have between 20 000 and 40 000 ticks coming in a day. Over 30 pairs, which is the number of combinations in the majors that is over 1 000 000 value changes a day.
I'd say it's far better to study systems than it is to study markets. There's already open source system generators available. Read that slowly. There are computer programs freely available that will generate systems. The guys who use them don't even know what they do.
And you want to read about what ?!
In an age of robots pitching up to the fight with a ruler and a pencil doesn't cut it. Most technical analyses ideas are over 100 years old. Thing like moving averages for example. They belong to a different era.
Fx pairs have between 20 000 and 40 000 ticks coming in a day. Over 30 pairs, which is the number of combinations in the majors that is over 1 000 000 value changes a day.
I'd say it's far better to study systems than it is to study markets. There's already open source system generators available. Read that slowly. There are computer programs freely available that will generate systems. The guys who use them don't even know what they do.
And you want to read about what ?!
Hand, I'm a little lost.. are you telling me to create an EA or follow one?
Jan 31 2017 at 07:40
pare
TheHand
Can you open your trade views to the Public so I can see how your doing and we can compare accounts at the end of lets say 2018
theHand posted:
Means he can't make technical analyses work either or he wouldn't be earning a living from selling his books now would he ?
In an age of robots pitching up to the fight with a ruler and a pencil doesn't cut it. Most technical analyses ideas are over 100 years old. Thing like moving averages for example. They belong to a different era.
Fx has between 20 000 and 40 000 ticks coming in a day. Over 30 pairs, which is the number of combinations in the majors that is over 1 000 000 value changes a day.
I'd say it's far better to study systems than it is to study markets. There's already open source system generators available. Read that slowly. There are computer programs freely available that will generate systems. The guys who use them don't even know what they do.
And you want to read about what ?!
TheHand
Can you open your trade views to the Public so I can see how your doing and we can compare accounts at the end of lets say 2018
Jan 31 2017 at 07:41
I'm trying to tell you to skip the technical analyses phase of the forex learning process. It prevents you from getting to the things that make fx work, which is things like position sizing and risk management.
Just accept from day 1 you will never be able to predict fx with any form of analyses, technical of otherwise. People make their money from managing the positions, not from predicting direction.
Most of the EA's you'll get is nonsense. You'll be much better off doing your own thing and much more independent for it.
Just accept from day 1 you will never be able to predict fx with any form of analyses, technical of otherwise. People make their money from managing the positions, not from predicting direction.
Most of the EA's you'll get is nonsense. You'll be much better off doing your own thing and much more independent for it.
