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PureBytes Links
Trading Reference Links
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Forget Swing trading, day trading and all the other quick money
rubbish. Go to amazon.com
Look up Tushar Chande, Charles LeBeau/David Lucas, Joe Krutsinger,
John F Clayburg, Perry Kaufman, Thomas Stridsman, Mark Conway
Those will get you off to a good start and you'll have read about 20%
of what you need to read to finally get a grip on this stuff.
And then of course there's Roy's newsletter. It can't be beat.
--- In Metastockusers@xxxxxxxxxxxxxxx, "K U R E K C I" <kurekci@xxxx>
wrote:
> i think it is ienvitable notto agree with you. these are exactly
the same things that i offered in my newsgroup. i have been a
fundamental analyst before but in time i switched to technial
trading. it saves much more time and you can do engineering on a
system easily, besides it is used more in foreign markets (larger the
market more technical it is)
>
> i visit barnes and noble and borders. i came across martin pring,
dr elder, bollinger but not the ones you mentioned. can you give
these ames more specifically so that i can search about those guys.
>
> i suppose the fashion these months is swing trading. almost all the
books mention swing trading and cycles. none of them explains exacty
what parameters they use market specifically. yeah, one may say that
it depends on your trading rate, but still i believe there may be
some optimized numbers that clustering occur around..
>
> good luck
>
>
>
>
>
> ----- Original Message -----
> From: superfragalist
> To: Metastockusers@xxxxxxxxxxxxxxx
> Sent: Sunday, January 16, 2005 11:33 AM
> Subject: [Metastockusers] Re: looking for tips, tricks, and
secrets on MS
>
>
>
> Same question, different presentation. Send me all of your stuff
that
> works, please. No, I don't think I will.
>
> Sign up for Roy's newsletter. It's the best.
>
> www.metastocktips.co.nz
>
> Here's a repeat of a post from the other site. Pay attention to
the
> part about reading every trading book you can buy. No single guru
or
> trading book has the answers. You have to read a 100 of them and
then
> create a system that fits you from what you've learned. There is
NO
> short cut--other than losing all your money. That's the fastest
way
> to learn how to trade.
>
> You should also pay attention to the paragraph about who to
listen
> too. That's an important issue.
>
> I know this answer is not what you want to hear, but rather than
> reading a bunch of my posts on this and other sites, the better
thing
> to do is to start reading some of the system's development books
that
> will really answer your questions. Setup a reading schedule,
consider
> it your graduate education in trading. That will benefit you a lot
> more in the long run. You will get a bigger return from your book
> investment than you will get from your trading.
>
> For example, rvalue just brought up the issue that stops reduce
> profit. There's no quesiton that in most cases that's true, but
it's
> not true with all stops and in all cases. Different types of stops
> are used in different circumstances. You can learn about this from
> guys like Thomas Stridsman, LeBeau and Chande and others.
>
> I have two stops on my trading screens, one is based on Chandelier
> exits and one on adaptive ATR stops. The Chandelier stop is
tighter
> and adaptive ATR is somewhat more relaxed. Which stop I take
depends
> on the market conditions at the time. You can't program that into
a
> systems tester. However, when I use the adaptive ATR stop in the
> tester the profitability of the system goes up so why wouldn't I
> follow it exclusively? Market conditions!
>
> I can't possibly explain enough about using stops in a couple of
> short posts to teach anyone anything that will save their butts. I
> learned the adaptive coding from Perry Kaufman and the Chandelier
> methods from LeBeau. It took awhile to get it right, and it didn't
> come from a post or two. Both methods use the ATR but there is a
huge
> difference in how they use it.
>
> Andy asked the question about support and resistance for setting
> stops. You can do that, some people advocate it, but it will
cause a
> lot of traders to go broke because they are not stopping out when
> they hit the maximum loss they can afford for the size of their
> capital account. (preservation of capital is more important than
> profit) In addition, you can't get two people to agree on where
> support and resistance is at on a chart.
>
> Rvalue says stops reduce profit--as I said in most cases they do,
but
> they keep you in the game. Using a very, very large stop is called
> buy and hold.
>
> Boards allow many, many people to express their opinions.
> Unfortunately most of the opinions are not backed up by any
education
> or substantive facts, so they are of little value, and at the
worst a
> lot of them are down right wrong. So I wouldn't come to a chat
board
> to learn anything. I would go to people who actually have to
depend
> on what they do to make a living. I don't mean the people who
want to
> sell you their trading systems and seminars. I'm talking about
people
> like Kaufman and Stridsman who develop systems for a living and
share
> they knowledge of what works and what doesn't in their books.
>
> I often hear people say that they can't afford to read the books,
or
> they don't like reading, etc. Well, if you lose $20,000 trading,
how
> many books could you have afforded.
>
> You can get your degree from Harvard night school for less than
> $40,000 (night school doesn't have the entrance requirements like
the
> day program so that's not an excuse, and the diploma doesn't say
night
> school). How many people would do that as compared to those that
have
> lost more than that amount trying to trade. It's ridiculous how
high
> the cost of ignorance is.
>
> When I was first starting in the investment business, I had a
friend
> who had been in the business for many years and was very
successful.
> He told me that if you asked 100 people if they wanted to be rich,
> 99% of them would say yes, but only 1% would be willing to do
what it
> takes. He was dead ass right!
>
>
>
>
>
>
>
> --- In Metastockusers@xxxxxxxxxxxxxxx, adnan alsmail
<adnanksa@xxxx>
> wrote:
> > Hi all,
> > I am new member to your group, and I am trying to
> > educate myslef and learn more on Tehcnical Analysis
> > (TS), Metastock (MS), and successful trading system.
> > So far I have read a lot on TS and started to use MS.
> > Though, I want to learn from the experts in this group
> > some tips and tricks on the TS and MS, and which
> > trading techniques that worked with them.
> >
> > I would apprecite it if you either share with me your
> > expeirence or direct me to the best sites which could
> > help me sharpen my skills on TS, developing uccessful
> > trading system, and/or utilizing the features of MS.
> >
> > Thanks in advance for your help and your help is
> > appreicated.
> >
> >
> >
> >
> > __________________________________
> > Do you Yahoo!?
> > Yahoo! Mail - Easier than ever with enhanced search. Learn more.
> > http://info.mail.yahoo.com/mail_250
>
>
>
>
>
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