Elliot Wave Theory is helpful in defining waves of patterns, as long as you don't try to "predict" anything. Especially helpful when you try to program your newly found trading system.
But Technical Analysis is just a tool, like the computer. It doesn't "predict" anything either. Much of T/A is random noise. Deciphering the significant from the chaff is difficult.
What most traders are trying to do is become consistent. Even if you're wrong half of the time, keeping your losers small with good money management techniques and letting your winners run can be profitable. Risk is the focus first, but good trading strategy is the aim and application, not some indicator. Incorporated into the indicator and rules are good strategies. Developing a rule-based system for trading
The number one reason traders fail? No trade plan. Read this book if you want to get serious about trading helps you become consistent.
Nassar, David S. - Rules of the Trade
I don't use DiNapoli levels, but his book gives a total understanding of Fibonacci levels.
DiNapoli, Joe Trading with DiNapoli Levels
A must study for beginners of Technical Analysis
Edwards & McGee Tech. Anal. Of Stock Trends 2001
Other books
Farley, Alan S. - Master Swing Trader, The
Prechter, Robert Jr. Market Analysis for the New Millennium
Krutsinger, Joe Trading Systems - Secrets of the Masters
Miner, Robert C. Dynamic Trading
Kaufman, Perry J. Trading Systems & Methods
Rotella, Robert P. Elements of Successful Trading, The
Bierovic, Tom Playing For Keeps in Stocks & Futures
Sperandeo, Victor Trader Vic-Methods of a Wall Street Master
Bulkowski, Thomas Encyclopedia of Chart Patterns
Brown, Constance All About Technical Analysis
Lefevre, Edwin Reminiscences of a Stock Operator
Douglas, Mark Trading in the Zone
Velez, Oliver & Greg Capra Tools &Tactics for the Master Day Trader
Hill, John R. & George Pruitt Ultimate Trading Guide, The
New Market Timing Techniques: Innovative Studies in Market Rhythm & Price Exhaustion: by Thomas R. DeMark
The New Science of Technical Analysis: by Thomas R. DeMark
The Education of a Speculator: by Victor Niederhoffer
Trading for a Living, by Alexander Elder
Justin Mamis' The Nature of Risk: Stock Market Survival and the Meaning of Life. I believe this book to be foundational to new traders because it discusses, what else?, the nature of risk in the market.
You could study W.D. Gann for a year and not scratch the surface.
Shop around on traderslibrary.com, traderspress.com, fraser publishing as well as Amazon. There are a ton of good books out there and lots of free resources on the web.
I'm making good profit with penny stock. Check here http://trade-pennystock.checkhere.info
Many new investors are lured to the appeal of a penny stock due to the low price and potential for rapid growth which may be as high as several hundred percent in a few days. Similarly, severe loss can occur and many penny stocks lose all of their value in the long term. Accordingly, the SEC warns that penny stocks are high risk investments and new investors should be aware of the risks involved but you can even make very big money. These risks include limited liquidity, lack of financial reporting, and fraud. A penny stock is a common stock that trades for less than $5 a share. While penny stocks generally are quoted over-the-counter, such as on the OTC Bulletin Board or in the Pink Sheets, they may also trade on securities exchanges, including foreign securities exchanges. In addition, penny stocks include the securities of certain private companies with no active trading market. Although a penny stock is said to be "thinly traded," share volumes traded daily can be in the hundreds of millions for a sub-penny stock. Legitimate information on penny stock companies can be difficult to find and a stock can be easily manipulated.
You can't succed in binary trading without a strategy, a good method to follow and some kind of software support. They program I use is called "Autobinary signals". It helps finding loopholes for guaranteed returns. It's very easy to use and I'm earning good money. You find all the details on this site: http://tradingsignal.toptips.org
"How to win at blackjack" by I B da Haus "The ultimate instruction book for suckers and losers" - Las Vegas Gazette
If you buy low and sell high, that means someone else has to buy high, and hope someone will buy at an even higher price from him. Sounds like a con to me.
I'm looking for more books on technical analysis. So far I've read the "Way of the turtles", "The winning edge", "Stock investing for dummies", "The new science of technical analysis", "Fire your stock analyst", "The new Market Wizards", "How to make money in stocks, William Oneal", "Technical analysis, Kirkpatrick 2nd edition", "Trade like an Oneal Disciple", "The great super cycle", "The disciplined trader, developing winning attitudes". "The definitive guide to point and figure charting"
Ive read a good amount but not enough and now Im purely interested in technical analysis. Are there any books you would consider for advanced technicians? Also right now Im half way through the point and figure book and can already tell I want to further study this charting method. Do you have any recommendations for any books on P+F charting?
Also please write a brief description of the book you post.
