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I'm an old trader always looking to expand my horizons. The other day you mentioned Alexander Elder. I haven't read any of his books. Which one would you recommend reading first? Thanks for the thread, keep up the good work
indextrader7
Birmingham, AL
Posts: 1,065 since Apr 2012
Nothing mind blowing, but "Trading for a Living" is a good book.
Sorry to not have been around as much last week. Tons of things demanding of my time right now. I'll post something up this weekend.
toucan94506
danville ca usa
Posts: 51 since Mar 2012
Thanks Given: 6
Thanks Received: 41
You missed a couple of extremely good trading days.
Cheers
toucan
indextrader7
Birmingham, AL
Posts: 1,065 since Apr 2012
I got a little bit in!
cma6
Concord, NH, USA
Posts: 2 since May 2012
Thanks Given: 1
Thanks Received: 0
Steve, can we infer from your comment that you are basically a breakout trader as opposed to a range trader?
indextrader7
Birmingham, AL
Posts: 1,065 since Apr 2012
Reviewing some of the missed action in the markets for this past week.
Here's an example of how I look at momentum displayed right on the price action and how it might give us clues/hints to future action.
Monitor the depth of pullbacks against the trend, and the depth of new legs in the direction of the trend. They don't give information by themselves, but when you compare one pullback vs the last pullback... THAT is information as to what the momentum is doing.