learning of a discretionary trader

[oilman5]

Re: learning of a discreationary trader

some of the literature i find very useful ....www.tradingmarkets.com
www.spytrdr.com
and ofcourse www.traderji.com
www.tradersedgeindia.com
www.stockpicksindia.com
........................
basic research of icici,...angel,...equitymaster...indianinfo..sharekhan
.........................................
Beyond Technical Analysis (Tushar S. Chande, PHD}
Bill Williams - Lit (New Trading Dimensions}
Book - Tom Williams Volume Spread Analysis
DYNAMIC TRADER GUIDE
Encyclopedia of Trading Strategies
Kuhn - Marder Intermediate-Term Momentum Trading Course
Momentum Investing By Ken Wolff
OmniTrader (Systems Manual)
Steve Nison Japanesse Candlestick Charting Techniques
The Daytraders Bible by Richard D. Wyckofff
The Four Biggest Mistakes in Futures Trading by Jay Kaeppel Book
Trading as a business
Willam J O'Neils How to Make Money in Stocks
.............................................
hope this will help in journey path of a discreationary trader
...........................
this every book has some uniqueness in it.for simplicity i write 2lines.
Beyond Technical Analysis (Tushar S. Chande, PHD}...a bible to understand system
Bill Williams - Lit (New Trading Dimensions}... it gives new light on market and randomness
Book - Tom Williams Volume Spread Analysis..read it..u see..use of volume ..why?
DYNAMIC TRADER GUIDE ..understand judgement ..price time analysis
Encyclopedia of Trading Strategies ..idea what may suit u
Kuhn - Marder Intermediate-Term Momentum Trading Course ..a technique to trade
Momentum Investing By Ken Wolff ...same in depth..key theme of modern trade
OmniTrader (Systems Manual) ...background of comp.based trade with low risk
Steve Nison Japanesse Candlestick Charting Techniques ..a must
The Daytraders Bible by Richard D. Wyckofff ..how a real trader succeed in market
The Four Biggest Mistakes in Futures Trading by Jay Kaeppel Book ..teaches to keep a foot on brake always
Trading as a business ..a basic but imp concept..for all dreamer
Willam J O'Neils How to Make Money in Stocks ..why buy high,sell higher works..the useful concept of fundamental,stop,cup and handle
...........................
.............................................
bye bye my friends
i am going out from this thread
wish u all the best
oilman5

 

[oilman5]

Re: learning of a discreationary trader

hi,
i got a bookish mentor......a hardcore trader.
hope all amateur enjoy his view.
.........................................
1. be an observer first
2. learn from own mistake and other mistake......imprint this in mind
3.correct knowledge and behavior modification.
4. preparation yourself thoroughly for entry and exit.....with some superlative idea....what goes up must come down[mean reversion]...it takes time to rise but fall rate is quicker....
clock ..stands for timing....diary ..to write opinion and mistake study
5. behavior modification.....this unlearning process is key.......what works for u.
correct behave is....what to do under unexpected event......not emotional reaction.
6.share market is a loser's game....u must know to survive first.then learn probabilistic approach on right trade vs. learning trade[assuming loss]............add position to winner immidiately...and cut loser earliest whole @ a chop ..
7.design everything to all unforseen scenario....so that u can act while they occur..as its a journey on unknown.....be ready where to exit and when....on what condition........understand...rush problem of public.....in fear and in greed...always act before them.........must get out @ redoubtable top..........same way.....wait for a minor confirmation @ intermediate bottom...then enter.but act swiftly
8. always say.....i am only responsible for my behavior modification,proper observation to trade and correct reaction[execute] to market.i must adapt with market...not vice versa..otherwise sit idle...... i must understand bull trap...and check for it
i must think before i act/i execute a trade......[punch list]
9.sometimes i must look for reverse image[in chess terms look from otherside of board].....and plan for reversing the trade.[this is the toughest psychological hurdle i find to overcome]
10.Initially i should take a small position.........must be swift to liquidate that one if sense....
market proves u wrong.
11. always use own signal only for entry..........but use market guidance to continue/exit/addition ......or even reverse position.
this slow behavior modification is to be practiced unless it became ur 2nd nature......this is right way to trade for intermediate term.
12.when u hold a position ,within a reasonable time [as per ur chosen validity period]....it is not confirming to prove correct........better get out.
.........................
this is for intermediate term future trade

 

[trader111]

Re: learning of a discreationary trader

btw...those who love resources...a site for them
www.makcomtech.4t.com

did u bought the cd?
just wanted to know do the s/w really work as claimed by them.

 

[Satyen]

Re: learning of a discreationary trader

Thanks Oilman5 ............
why are you leaving the thread .........???



Regrdsa
Satya

 

[uasish]

Re: learning of a discreationary trader

Oilman,

Your contribution to this forum is comendable.

Asish

 

[Satyen]

Re: learning of a discreationary trader

Thanks got the PM

Regards
Satya

 

[trader111]

Re: learning of a discreationary trader

thnx oilman, and keep the good posts coming.

 

[Linus]

Re: learning of a discreationary trader

Thanks Oilman,

Please do continue ... don't stop... you are doing a good value addition...in a different way...

ss......

 

[oilman5]

Re: learning of a discreationary trader

let me demystify a software .....adget for beginner
.....................................................................
software helps to enter/exit a trade based on some propriety tools.
1.elliot wave.......4level entry......defining presently..wave3.......so another uplevel exist
2.oscillator...ma x trend continuation....its divergence study
3. pti.....validity of a trade.........its a probabilistic tool.
4.displaced ma.....confirmation of a direction.......actual entry
regression channel .....another confirmation
5.fib.....a gen concept......retracement/profit target pt
6.xtl....basic price pattern biasedness
mob......support/resistance tool
ellipse ..when and where.....high probability of correction completing
...................
validity condition very simple ......implementable

 

[uasish]

Re: learning of a discreationary trader

The one proprietory indicator of A.Get ,usefull you have missed is MOB.