Oh, I see. Thanks!
Newb questions...please help!
- Thread starter TraderNewb
- Start date
Yes, because I have the demo.
I suggest that you read Tharp's book Trade Your Way to Financial Freedom, edition 2. Hokey title, but I consider it required reading.
For example, the least important part of a trader's trading plan is the entry strategy. But most traders spend most of their time developing and fine tuning their entry.
You might also want to check out Ryan Jones, "The Trading Game". Rather dry reading, but it fits well with Tharp's ideas.
One final suggestion. Start with a small account of $5000, one contract per trade. Spend at least 6 months to a year proving that you can make money before increasing your account size.
If you do that, you will avoid the newbie's mistake of blowing out their account.
Welcome to the jungle.
For example, the least important part of a trader's trading plan is the entry strategy. But most traders spend most of their time developing and fine tuning their entry.
You might also want to check out Ryan Jones, "The Trading Game". Rather dry reading, but it fits well with Tharp's ideas.
One final suggestion. Start with a small account of $5000, one contract per trade. Spend at least 6 months to a year proving that you can make money before increasing your account size.
If you do that, you will avoid the newbie's mistake of blowing out their account.
Welcome to the jungle.
================
Tradernew
As far as books;
Jack Schwager top trading books are also amoung the kings/queens
Good trends maybe move more than 5 days.And as a general guidline[to make a play on words];
200 day moving average also is a good general guidline.
investors.com
[which is Investors Business Daily website] like to point out, below 200 day moving average is a sell sign.Wisdom is profitable to direct.
tradingmarkets.com had a well written article showing the same lately.
Have mr Velez book also ;
doubt if he is for buying stocks 3-5 days down below 200dma;as William O Neil [old trader/old chart reader]shows in his short selling book that can be a good short, not long.Good longs can be found above 200 day moving average.