Hi bazan,
Long time no cyber speak. As you may recall, I'm a long time fib affectionado, and find it invaluable for my trading style. BTW, Medved's QuoteTracker has a fib drawing tool in the charting that allows you to set a number of fib levels (both retracements and extensions) based on two points you pick on the chart. Excellent tool, and uncanny to watch intraday how a price will hit a level and reverse. But I digress.
I read DiNapoli's book several years ago, and while quite good, IMHO it falls into that category of books that are best bought and read after first learning something about the subject and deciding that this is a trading style that your want to follow. Not hard to read, but similar to Cooper's Hit and Run series; if you don't know charts and the indicators (like ADX or RSI) the books will seem somewhat arcane. DiNapoli includes shifted MAs, MACSs, stochastics and some other stuff as I recall. You probably know enough to use it, but it isn't a Holy Grail. I presently think pattern analysis is more beneficial to finding trades to take, fib analysis helps once you are in the trade in setting prophet objectives and kill points.
Fischer's book is also a bit advanced for starting out. There's a lot of other info out there, mostly in bits and pieces, some free on the net. There have been a number of articles in TASC and quick notes on their website Trader.com, a subscription site. The book by C.Brown ( TA for the Trading Professional) that I think I recommended to you last summer has some good material as does Yu's latest UndergroundTrader.com Guide.
PM me your address and email or call me (if you still have my number and want to chat), and I'll send some other material I've got and loan you DiNapoli's book, if I can find them. I'm in the process of rebuilding my office and a lot of stuff is in boxes just now. I have an uncomfortable recollection that I may have loaned DiNapoli's book as well as Street Smarts by Conner and Raschke and not gotten them returned. At last I get the chance to repay your generosity of that course update of several years ago. I'm leaving shortly (sister's B-day party) and will be back later tonight.
And hi to everyone else here; I've been busy remodeling my trading office, and mostly focus trading non-gizzards, wide range, high volume issues - semis like NVLS, AMAT, KLAC, bios like IMNX, GENZ and IDPH. Been trying to apply some of Landry's Swing concepts, but mostly doing short term, intense watch the monitor trades. Hasn't left much time to read or chat on SI. Plan to scale back shortly as I'm getting tired of the hermit existence this style demands. But one thing I have learned is that as a trader if you don't adapt, change and learn, you fail. The markets for some time have not been like early last year when one could go home long and wake up in the AM to see how much you'd made on the gap. I don't think we will see that again soon either. Good luck to all.
Peace and Justice --- Patrick |
