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Topic: What is the best swing trader book? Please help

Google
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Yeah, i started doing some day trading and want to bad. I was able to identify trends in technical and fundametal analysis. But I think I may like swing trading a bit more cause without realizing it, I actually performed a swing trade last week. Not until then did i learn what swing trading was. It is cool!! I love the idea of identifying chart patterns to signal buy or sell points. Anyways, can someone point me to the absolute BEST all around swing trader's book, I would much appreciate it. Thank You and PUT YOUR VOICE IN.

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SilverRain
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I definately would not consider myself the authority but a book I found very useful in learning many of the intricancies of swing trading was Alan Farley's "The Master Swing Trader".

Link to its page on Amazon.com

He offers great advice that can be used in your trading, whether it be psychological or a specific strategy. I have read critiques that say Alan is quite pompous, esoteric, and ambiguous in his writing style, but if you look past that and just try to comprehend his specific points, its well worth the read.

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grjohnso
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Alan Farley's book was good and thourough. However, if you look at the date and time of all his exapmles of breakout patterns you find they take place at the top of the tech boom. It is for this reason that his book lacks merit to me. A monkey could pick breakout patterns at that time. There is alot of good information in the book. Just keep in mind what I said next time you read it.

-Greg

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Machiavelli
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Without a doubt the best book would be :

A Beginner's Guide to Short-Term Trading by Toni Turner ... www.toniturner.com .. you also might want to check out if you ever get interested in candlestick charting:

The Candlestick Course by Steve Nison... www.candlecharts.com ...

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grjohnso
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Those are both good books. Toni Turner's book is a good first book to read for a new trader.

-Greg

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SilverRain
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Greg,

Yes, I noticed that. Prices for stocks like CIEN were over $100 in his charts. It seems quite arbitrary that he would use these charts even though this book was published after the dotcom and tech bust. Nonetheless, as I am sure you would agree, Farley does offer some good advice that can be used in today's markets.

Can you suggest any books that you found useful, or must reads?

Regards,
Muaad

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grjohnso
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I have read evey book I can get my hands on somewhere in the 20's. The biggest teacher is experience. Untill you have gone through a bull run like from dec 15 - jan 20 or a bear run like recently you know little about trading. This summer has been very tough for me with such light volume and the mixed signals. Here are some of the better books that tell you things you can actually apply in your trading.

Toni Turner "A Beginner's Guide to short term trading" As I said before this is a great first book to get the basics from!

Ted Warren
"How to Make the Stock Market Make Money for You".
Written in the early part of the century. Ted really makes you think in contrarian terms. He shows you what it means to buy low and sell high. This is a book on long term technical analysis. Very good trading system here. I know of 2 people who practiced his methods last year and one gained 120% and the other 220%
(here is a link showing his success) http://groups.msn.c om/TheTedWarrenInvestolator/specifictrades.msnw?action=get_message&mview=0&ID_Message=5011&LastModified=4675480700196786952&all_topics=1

Here is a link to the book: http://www.amazon.com/exec/obidos/tg/detail/-/15 68493576/qid=1096390204/sr=1-1/ref=sr_1_1/002-0839366-7587222?v=glance&s=books

Victor Sperandeo
"Trader Vic--Methods of a Wall Street Master" Great book! Very reasonable trader who uses past probablities to be profitable. He covers spotting short term reversals better that anyone I have ever seen.

here is the link: http://www.amazon.com/exec/obidos/tg/ detail/-/0471304972/qid=1096390135/sr=8-1/ref=pd_csp_1/002-0839366-7587222?v=glance&s=books&n=507846

Marcel Link "High Probability trading"
The book as a whole is okay and there are some good points therein. The best part about the book is he actually shows you have to create and test a trading system. Very interesting results in the book of some of his trading systems. If you have time to read it is worth the money.

link: http://www.amazon.com/exec/obidos/tg/detail/-/0071381562/ ref=pd_sim_b_5/002-0839366-7587222?%5Fencoding=UTF8&v=glance

-Greg

[This message has been edited by grjohnso (edited September 28, 2004).]

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