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"They want to program and get something "working" before they even have a
clear concept or design of what they really want."
I assume they "want" a system/style/method that is compatible to their
mindset. Traders or investors do not attempt to maximize their profits,
instead they try to optimize it, based on their perceptions and bias. Some
won't trade anything that is not on NYSE, a future, a tech stock, over $10,
you name it. First one must know himself. I would hope one reads many, many
books to get an idea of what is available in terms of TA before he starts
trading. So he can better work out a rational plan to follow. All TA books
are expensive because of small readership. When people ask me if they should
spend $80 on a book, I say " if you think you can make an 1/8 on a thousand
share trade from it, yes". I think all of these are worth that.
About time for a books lists: B=BEGINNER, *= my ratings with * lowest to
********
HOW TO MAKE MONEY IN STOCKS - O'NEIL ********B
TA FROM A TO Z - ACHELIS *****B
TA OF THE FUTURES MARKET - MURPHY ********
SMARTER TRADING - KAUFMAN ***
TRADING FOR A LIVING - ELDER ***B
TA EXPLAINED - PRING ****B
WINNING IN THE FUTURES MARKET - ANGELL ****
THE NEW TECHICAL TRADER - CHANDE AND KROLL ********
THE PSYCOLOGY OF TA - PLUMMER *****
THE PROFIT MAGIC OF STOCK TRANSACTION TIMING - HURST *****
MARKET MOMENTUM - PRING ****B
BEYOND CANDLESTICKS - NISON *****
THE ELEMENTS OF SUCESSFUL TRADING - ROTELLA ****
CANDLEPOWER - MORRIS ****
TA COURSE - MEYERS ***B
THE NEW SCIENCE OF TA - DEMARK *****
Fibonacci Applications and Strategies for Traders - Fischer*****
Street Smarts - Conners and Raschke *****
Hit and Run Trading - Cooper *****
When To Sell - Mamis and Mamis *******
OTHERS:
Chart Reading For Professional Traders - Jenkins
Geometry Of Stock Market Profits - Jenkins
Successful Investing (5-part guide) Van K. Tharp
A Mechanical Trading System - Tom Joseph
The Trading Advantage - Joe Duffy
Turning Point analysis - Joe Duffy
The Square Of Nine - Bill McLaren
MAGAZINES:
Futures***
Trader's World*****
Windows*****
Technical Analysis of Stocks and
Commodities****************
Elder's book is an easy read, and should be read by all. He covers the
simple basic indicators. He really directs most of his discussions and
examples to futures where the margin requirement makes small % moves, big
money trades. He has a couple of IBM and Apple charts to represent stocks as
most books do. Trading stocks and trading futures are different. The concept
of comparing different time frames came off Noah's Ark on crutches. I don't
think there is anything scared about a mon-fri week or a running 5 day. When
you find a method to do that, test it. There is not anything there to make
enough money to justify worrying about it, based on my perception.
As for listing systems better than what you find in Elder's book, it all
depends on the trader or investor and his "mindset". Results are always the
bottom line on his account and how that coincided with his goals.
Richard Estes
-----Original Message-----
From: Steven Buss <sbuss@xxxxxxxxxxx>
To: metastock-list@xxxxxxxxxxxxx <metastock-list@xxxxxxxxxxxxx>; John E Bush
<jb90036@xxxxxxxxxxxxxxxx>
Date: Monday, January 19, 1998 1:39 PM
Subject: Re: A Difference with Elder...
>Three answers to your question.
>
>1) Elder's "Triple Screen Trading System" is NOT really a system. He
calls
>it a "method" or "style". >Steven Buss
>Walnut Creek, CA
>sbuss@xxxxxxxxxxx
>
>-----Original Message-----
>From: John E Bush <jb90036@xxxxxxxxxxxxxxxx>
>To: metastock-list@xxxxxxxxxxxxx <metastock-list@xxxxxxxxxxxxx>
>Date: Monday, January 19, 1998 6:50 PM
>Subject: Re: A Difference with Elder...
>
>
>>At 10:40 AM 01/19/98 +0000, you wrote:
>>>I've been talking up Elder so much here that I thought I should make it
>>>clear that I don't really like one part of his "Triple Screen Trading
>>>System" described in "Trading for a Living".
>>>
>>>
>>This book is about 5 years old now; I wonder if Elder has updated, refined
>>or maybe even abandoned this system.
>>
>> john ( MS 5.11 & DOS, TechniFilter Plus 7.1.5 )
>>
>
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