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To: Robert Graham who wrote (5072)	1/22/1998 9:32:00 PM
From: Chris	Respond to of 42787

yes bob g. <<< This is "Technical Analysis Explained" by Martin Pring. Somehow it dropped off of the list. >>> i loved that book along with Market Momentum by Pring.. his book brought about my interest with TRIX.. this TRIX really is awesome.. it's timely signals and works beautifully. what is great is that it works well in daily and weekly scales.. John murphy's "visual investor" is a MUST... also Stain Weinsetein.. those 4 books, and i assure --> that's all you have to read on TA.. TA is a subject where there is limited reading.. Yes, a lot of topics and indicators... but they are all the same.. the beginner has to Spend more time on FINDING those indicators and that takes more TINKERING rather than reading.. reading is good no doubt.. but reading 100% of all TA books doesn't make you an excellent TA... It's the practice in reading 1000 charts and recognizing the patterns that counts.. ONLY EXPERIENCE and FAILURE/SUCCESS can bring that about..

To: Robert Graham who wrote (5072)	1/22/1998 9:48:00 PM
From: Chris	Respond to of 42787

[TA VIEW -- the BIG picture] i have a feeling i posted this before.. i apologize if i did... this is an email i did ====================================== let me type away on what TA means and how i approached it... I've been quite silent these days on the emails b/c i've been waiting for market direction and trying to figure out my mindset and "preparing" myself (so to speak).. let me start off on TA on general terms: I think there is $$$ to be made here. this TA stuff is TRULY amazing. regardless of "explaining" how and why my lines represent prices and the ability to forecast future price movements. TA is the key.. And by using TA, we are a HUGE step above everyone else. Believe me, I've seen a lot of people trading stocks without TA.. Don't ask me HOW they made money, but LUCK has a lot to with it. Investors that put their money during the bull run could throw darts (proven by motely fool sp?) IT WAS LUCK. IT WAS LUCK that those "long-buy n' hold" investors had the bull run... As you can see now, we are in this crazy mkt. Well, i think we should be proud of ourselves for "CHOOSING" TA to invest. many have discounted the use of TA and many have not taken the time to look into this great TOOL.. Couple things i want to emphasis 1) Long -term investors can use TA.. who said TA is ONLY FOR TRADERS? 2) I've begun to think philosophically.. so bear with me.. I, myself, and im sure we've read other's post: a) Trust your own indicators b) listen to your signals now, coming from a beginner's point of view. I'm sure that person would be lost.. "what indicators?" "which one?" "i dont even trust system!" "my emotions are taking over my decision making" these questions and thoughts are VERY COMMON and TAKE SO MUCH TIME to resolve. At times, the advanced TAers will proceed "backwards" and take maybe 3 steps back.. Back to the drawing board and the process begins again... From my personal experiences: I can classify learning TA into phases. Each phase will take MANY HOURS and constant chart-looking and possibly countless times of frustration and $$ lost possibly.. 1) what is TA? how can TA help me? 2) ok, let's read some books to learn the basics 3) yippe, i got my first charting software.. now, how do i use it? <g> 4) lets start charting these indicators i've learned from reading 5) let's add more indicators as part of a system 6) now that i know what these indicators do, how can i apply to my time frame and apply it to my liking. (very hard step).. countless trial n' error... why? Indicator A must have the same time frame as Indicator B. Indicator A and Indicator B must/should give "different information".. (you don't want 5 diffeernt momentum indicators) 7) now that i have 20 indicators, can i make a system? 8) you can't make a system with 20 indicators. so you simplify.. you can't cut 20 indicators to 5 that fast.. it takes time. 8a) develop a scanning critieria. 9) all this time, you are also constantly looking on SI for new ideas. pma2 is a good example along with the above TA-issues, a beginner has MANY other issues to contend with: 1) small caps? large caps? use of FA? 2) should i use sell stops? buy stops? 3) Human trading skills. am i too emotional? what kind of risks am i going to take? Am i fit for trading? or am i more long-term? =================================================== While all of this is going on.. it takes TIME to familarize with yourself with your system.. it takes time to see the strengths and weakenesses of your system.. after looking at hundreds of charts and looking at DIFFERENT time/mkt conditions, you always seem to see this PATTERN... As you put that PATTERN into your mind, you build up a database of PATTERNS solely using this system/indicator.. In the future, you get faster at recognizing this PATTERN.. Finally, it's to the point where it's natural instinct and reaction where it takes you 5 seconds to see if the chart is a buy/sell.. Furthermore, you might call it "gut feeling".. gut feeling is when you the stock is moving "Against" your indicator/system and you have 100% trust on your indicator/system.. ================================================================== Please, dont feel i'm "at the end of the road" yet.. not at all.. here are some future items left to be done: 1) develop a good scanning method 2) familiarize further with my system (still new to me) 3) money management.. I will try to shy away from sell-stops.. thus, risk and money management will be my next goal.. very vague concept and not familiar with it too much 4) be more patient.. 5) be more confident. and not being reckless. sometimes i would go into a trade without a SOLID buy signal. why would i do that? duh... 6) look longer term if possible. more $$$ and much easier to look at things longer term.. thus my reliance on weekly charts... 7) find a better "overbought/oversold" indicator. i'm still looking for a better one than the stochrsi triplets.. =================================================================== Anyways, I think with investing.. the more time you put into it... the more $$$ potential... the lesser risk.. the more better your TA will be.. right now, im still "learning" my system and have yet feel that confident to trade with it. but i've seen the potential effectiveness in giving good succesfful buy signals. As you can see, when I "learn" a system, i drop everything concerncing trading and do sample "paper trades". meaning, i would go through a chart and follow my signals and see if they worked well or not..