Books are a great thing, and libraries ahve to be the greatest invention ever! I like historical novels and murder mysteries.
I do a lot of my reasearch on the internet, but I do love to read.
I enjoy reading about finance, economics and history. Two books I can think of at this moment, that are worth reading are:
Bulls by Maggie Mahar
The Price of Excellence by Jacob Neusner
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Of course, my two favorite books are Invest with Success and ADXcellence by that famous writer and top notch trader, Dr. Charles B Schaap.
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ReplyDeleteYes, I got the book yesterday... the only problem is I'm having a hard time putting it down! So far many of the concepts and teachings are coming together, and making sense most of all.
Many thanks to the both of you for putting it together. I will keep you updated.
Merry Christmas and much Blessings,
G.
Trading is a solitary activity. I have a live trading room and I answer emails - I love to hear form people when the Journal comes out - whether it helps or not. But as to trading - we have to learn it all by ourselves. Charles and I have created tools, we can light the path - but each person who wants to succeed, must be willing to put the hours of work into learning. Practice trading, practice entries adn exits and teach themselves to 'see'.
ReplyDeleteI get discouraged when I can't do enough. People want a 'quick fix' and there is not one for trading. There is learning adn practice and practice and learning.
I feel that I begin each day new - starting all over. But the truth is that experience comes only with time. Time in. Time doing the work to learn.
I am not sure what a blog is for - but I guess speaking out about personal efforts is one thing we can talk about here.
There are articles posted at Investopedia.com - google my name Candy Schaap. We try to keep posting pertinent articles and information. In the February issue of Stocks & Commodities is an article about entering at pullbacks
ReplyDeletehttp://www.traders.com/Documentation/FEEDbk_docs/2009/02/schaap.html
Entering Trades At Pullbacks
by Candy Schaap
When opportunities knock, tell them to come in! Here’s how pullbacks in trends offer opportunity.
Anybody who has ever bought an asset, whether it’s bonds, stocks, mutual funds, or real estate, knows that prices go up and down. Prices fluctuate between support and resistance most of the time. This is information that technical analysts use for trend trading and countertrend trades. A countertrend trade is also known as a scalp trade. As price moves back to support in an uptrend, or up to resistance in a downtrend, there is an opportunity to make money in the trend.
Let’s look at trend dynamics to understand how to make entries into a trend by entering at pullbacks.
Following the move
One aspect of technical analysis is the study of price activity and trend. Traders cannot control price, but how they react to its movements is the difference between profit, a small loss, and a large loss. Using a trendline can help you identify a trend, a pullback in a trend, and when a pullback becomes a reversal. A trendline will also give you an objective way to manage risk.
I am going to stick with mastering Dr. Schaap books, CD and DVD3. I have read almost every book about investing, trading and money management. It is no doubt in mind that all you need are his products and you will be a successful trader/investor. But you most follow his system to the "t".
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