I am kinda of newbie. I have already read the idiots for daytrading like a pro book which has helped me lots. Now I am trying to learn more about the indicators and things you guys look at for movement. (RSI,MACD,etc)
WHAT BOOK HAS HELPED YOU THE MOST IN DAYTRADING PENNIES? Sometimes I wish I could just spend one day with some people on here an learn it.
Posted by jdiddy on :
I know that there are different mixtures that mean good things or bad things. I guess I am looking for a more detailed book. The one I read was very informing for me as a newbie but very basic. I recommend the book I mentioned above, but Im ready for the next step. Any help?
Posted by Machiavelli on :
Get out of pennies!!! Just warning you.... stick to daytrading stocks on big boards (NASDAQ and NYSE)... and if your new to trading i would suggest swing or position trading over daytrading... below is a list of books for both (they can all be bought cheaply on amazon.com used) :
A Beginner's Guide to Day Trading Online by Toni Turner www.toniturner.com (new edition just came out)
A Beginner's Guide to Short Term Trading by Toni Turner (for swing and position trading which i recommend)
How I made $2,000,000 in the Stock Market by Nicolas Darvas www.darvastrades.com (a good complimentary website to his trading style since he is not on this earth anymore to have his own official website)
Trend Following by Michael Covel (some of the biggest traders in the world are Trend Followers including John Henry, Jerry Parker, Ed Seykota, The Turtles, Richard Dennis, William Eckhardt, Bill Dunn, Keith Campbell etc.) www.trendfollowing.com
Reminisces of a Stock Operator by Edwin Lefevre (about the legendary Jesse Livermore and how he thought about trading)
Market Wizards by Jack D. Schwager (about other traders mindsets)
New Market Wizards by Jack D. Schwager (same as above)
Posted by jdiddy on :
I do fine in pennies. So I am looking for good advice rather than being told to Get out of pennies!! I'll admit I have lost some money by stupid mistakes. But there is lots of money to be made in pennies. If it is possible,I can do it. Im not afraid to read,learn,lose by practicing, or study stocks all night. I am looking for a type of book that tells the secrets of finding breakout points,bottoms, and different combinations of indicators to be able to pull 30-40% out of a stock and move to the next. I WANT TO BE ABLE TO CONTRIBUTE PICKS TO ALLSTOCKS AS WELL rather than just jumping on others picks. Although I have jumped on some nice picks (DKAM,IEAM,CCNG) ...thanks to IMAKE & ST22
Posted by Machiavelli on :
I already mentioned A Beginner's Guide to Daytrading Online by Toni Turner (www.toniturner.com) the revised edition... and if you are going to stay in pennies the very least then is not put all your money in pennies... put about 1/3 or 1/4 in pennies and the rest in trading Big Board stocks... btw don't jump on other's picks without doing ur own DD on it first... but like i said i warned ya and it's up to you... get the Toni Turner book and that will help you immensely judging by what you want to learn that you listed on your post...
Posted by jdiddy on :
I do agree with you Mach for the most part about keeping money in Big board stocks, but I am just greedy some times..lol Thanks for the good info.
Posted by Jenna on :
Greed will cost you.....just like it did me....
Good Luck.....I'm sure you'll do better than I have with pennies....