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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank

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To: Jenna who wrote (66786)10/18/1999 10:50:00 PM
From: Jenna  Read Replies (2) of 120523
 
e-mail: What to do or read to prepare for the Real Time Trading Forum.
Really you don't need level II just yet and possibly not at all.
Some brokerages have level II for free. Books to read:

Basic Technical Analysis (which is all you'll need):

Getting Started in Technical Analysis by Jack D. Schwager
Trading for a Living Dr. Alexander Elder
McMillan on Options McMillan
The Visual Investor by Murphy
My Favorite and dog eared: Technical Analysis of Stock Trends by Edwards and Magee

Most of all try to 'understand and apply' what you are reading. Lots of technical jargon doesn't mean a thing unless it 'works' in real time trading forum. The books above make learning basic Technical Analysis a pleasant experience and not a logorithmic quagmire.

Achelis: Technical Analysis from A to Z (also free on the Equis website) by the way for those of you that have Metastock 6.5, the manual has a host of indicators, their computation and interpretation that you can use. They also have 'easy to understand' CD Rom by Martin Pring which explains advanced Metastock complete with diagrams, explanations of indicators etc.

Keep it simple since its the stock selection process itself: the scanning and filtering and product: the Watch List and Newsletters/Calendar that essentially does all the work. The more powerful your software, the better you can experiment, but don't get carried away.

Another thing you can do that is helpful is get a subscription to Technical Analysis of Stocks and Commodities Magazine. Do this only if you feel you are reaching the intermediate and above stage, otherwise you will get indicator envy and try everything there is without proper evaluation techniques. You get formulas you can 'insert' right into Metastock.

I often find indicators there that are a little more 'fine-tuned' than the usual ones and articles are very interesting even if you can't utilize them for your own trading. For example in this month's November Issue they speak of the Mass Index and it seems to be more 'versatile' than the ADX. I need to follow that up.

For a broader understanding of which Indicator perform the best (in addition to backtesting).. you might try Technical Market Indicators by Bauer & Dahlquist. This is a technical and analytical work that actually rates the various indicators.

e-analytics.com nice website for tutorials

decisionpoint.com for general market climate indicators
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