Monday, May 24, 2010

What are some good books on day trading strategies?

Also, please let me know whether or not you have had any success using the strategies outlined in the books you reccomend.

What are some good books on day trading strategies?
I don't think you'll have much success with the methods outlined in any trading books.





The only trading method that I can suggest would have the most potential for success would be the "50% retracement rule." Of all the methods, this is the most reliable.





There's a book that discusses it. "The Trading Rule That Can Make You Rich" by Edward Dobson.





I can also recommend the following books, they don't discuss methods, per se, but reading them should afford you a better understanding of the markets, which may help you with your trading:





Wall Street: The Other Las Vegas, by Nicolas Darvas.


The Traders, by Sonny Kleinfeld.


The Professional Commodity Trader, by Stanley Kroll.


Fooled by Randomness, by Nassim Taleb.


The Trading Rule That Can Make You Rich, by Edward Dobson.


Reminiscences of a Stock Operator, by Edward Lefevre.


Paul Wilmott Introduces Quantitative Finance, by Paul Wilmott.





The following website offers practical, realistic trading advice: http://commonsensetrading.googlepages.co...
Reply:"Trading for a Living"- by: Alexander Elder





It talks about technical analysis and indicators to pay attention do - two thumbs up in that area!





But the most important reason is b/c it talks about the PSYCHOLOGY of trading, which is extremely important.








I'd say this is the Premier book on trading. It is detailed, and thorough, but if you follow the basic guidelines, you will become great.


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