So I'm rather new to trading and I'm mostly interested in micropenny stocks. I'm open to any and all advice (stock related), picks and tips. Any good readings i should pick up? Also to anyone who has an Iphone: what, if any, app do you use? I have a few but nothing shows enough decimal places. So a stock that is trading at $0.0004 will show as $0.00 Any recomendations for one that shows you the actual price of the stock?
The Toni Turner series and a couple others have really helped me the most in establishing a set of rules that I stick by - and will not break. Protecting your capital is always #1.
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)
Toni Turner “Short Term Trading in the New Stock Market”
“The Complete Turtle Trader” by Michael W. Covel about the Richard Dennis story. Pretty amazing.
Oh and BTW - most are available through the public library system. I know - I'm cheap!
As for the micros? Unless you know what you're doing you're prolly just filling some scam artist' pockets. There are PLENTY!!! of penny stocks still in the dirt that may have a decent chance to make it back to the big boards, Do the research.
Posted by T e x on :
The Turtles is a great story and lesson--but you need more capital than most starting in pennies have available. For that matter, Turner's method's require more, too. But for "philosophy" you can get more out of Turner.
For inspiration, the Turtle story is wondermous.
Posted by BooDog on :
quote:Originally posted by T e x: The Turtles is a great story and lesson--but you need more capital than most starting in pennies have available. For that matter, Turner's method's require more, too. But for "philosophy" you can get more out of Turner.
For inspiration, the Turtle story is wondermous.
Yes, Richard Dennis and his partner were certainly an inspiration. I also agree, starting capital is also important, otherwise, as I did, you may "gamble" more than make better decisions on what to buy and then end up losing. Toni puts some good rules in place but building the phsychological mind set to practice and use the rules takes time. There are also plenty of e-books and sites that help with learning the technicals. Ace put many here.