Dear @Dax_Devil you have said
" I entered prepared by systematically spending 5 months learning the TA and doing demo trading, so no loss and no painful learning curve."
Can you pls throw some more light on this. From where you have learnt trading and acquired TA skills.
I am new to stock trading and want to acquire some serious day trading skills.
Thanks and Regards
" I entered prepared by systematically spending 5 months learning the TA and doing demo trading, so no loss and no painful learning curve."
Can you pls throw some more light on this. From where you have learnt trading and acquired TA skills.
I am new to stock trading and want to acquire some serious day trading skills.
Thanks and Regards
Technical Analysis of Financial markets by John Murphy
Japanese Candlestick charting techniques by Steve Nison
Elliot Wave Principle by Frost and Prechter
Encyclopedia of Chart Patterns by Thomas Bulkowski
However, as you mention that you want to acquire daytrading skills, a word of caution. In my understanding, none of the above books was written keeping daytrading in view. Charts being fractal in nature therefore they appear on screen exactly the same irrespective of the timeframe, but trading them is not the same, trust me. Daytrading, as such, requires less knowledge of TA but more of money management, alongwith a brain adept in mechanical processing of infromation in seconds and acting on it instantaneously - which in turn requires fast fingers on the keyboard. These skills, I am afraid, don't come by reading books or discussing on forums or thinking about them. They only come through sustained concentration and practice over a considerable time period. One has to work on them systematically and dilligently.
Good luck, friend
Note: There are many popular books on daytrading but most of them are are just that - popular. However, among the lot I find books by Al Brooks on Price Action the most articulate, honest and intelligent.