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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... -- Ignore unavailable to you. Want to Upgrade?

To: elmstreet who wrote (54284)	3/31/2006 7:23:19 PM
From: lexi2004	Read Replies (1) \| Respond to of 59879

Elm...The secret, if there is one, is to just keep reading/studying about it and trying to apply it. If you're like me, you'll absorb what you can at this time, and as you get more experience you'll absorb more. Just work on one particular facet of whatever you're studying and try to get good at it, then move on to something else. Then there will come a time when it all seems to work together and make sense. In other words...The light comes on.:) I think the book that helped me so much was THE LOGICAL TRADER. At first when I read it, I couldn't make sense of it. Then I read sections again and again. I'd highlight parts and take notes in the margins of the pages. I'd try to apply it to charts on the monitor of my computer. I cannot tell you how much that book helped me. Before I read it, I really wasn't sure when to "jump in" on a moving stock during the day. Yes, I'd studied entries/exits, etc.; however, I needed to have that visual. The author has you draw horizontal lines on various parts of the chart the first hour or so of the trading day. You use those lines for very clear cut ideas on when to enter and even more importantly when to exit if anything goes wrong. It is extremely clear cut. If you follow him, I do believe you'll make money using a very systematic method of trading. In addition, since I made the previous post, I've been reading FIBONACCI FOR THE ACTIVE TRADER. I think for anyone new to fibs, this book is probably the easiest for it starts with the most basic and explains in a very clear manner with big charts and illustrations. I think maybe you should start with it. I think I forgot to add this on the prior post. It's a free fib letter where Dave walks you through each step of learning fibs. It's really a wonderful service and is free. Of course along the line he'll make you aware of some Fib trading resources that he hopes you will buy; but, there is no high pressure from him. He'll even respond to your emails regarding questions if you don't understand the lesson. fibonacci-retracements.com Lexi