Everytime I use a SL, I get stopped out WITHOUT FAIL - Page 2
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  1. #11
    Join Date
    Sep 2010
    Trades are like buses, there is always another one around the corner
    Many old school traders who still trade today consider the following publication to hold a lot of validity, even in today's markets (the book was first published in Dec 1998) : Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications (New York Institute of Finance). It's been nicknamed the "bible" of trading from a PA/TA prospective.

    Admittedly, it does start from the absolute basics up to more in-depth information; although its real benefit comes from the fact that everything is quantified (which in my personal opinion should be the number one goal of any PA trader). Without quantifying your trade plane from entry, exit and all of in-between it becomes incredibly difficult to replicate success and avoid loss making decisions. You really don't want to have a subjective trade plan, rather it needs to be an objective trade plan which agrees with a fixed non-negotiable set of rules that must be apparent in the market place at a specific time for a trade entry to be validated. This rule set is applied to the market every time - ultimately the only variable is the market - your trade analysis is identical every time with no discretionary element.

    At the end of the day I don't need to know how you trade, i'm sure as time moves on you will be able to paint a picture of your performance and evaluate the areas that you might want to focus more attention on. This is perfectly normal.

    Trading really isn't difficult - what's difficult is learning the correct material!

  2. #12
    Join Date
    May 2017
    Quote Originally Posted by jthornton View Post
    Are there any good resources (video, websites, etc) that I can review PA?
    Most videos and websites are online for promotional reasons.

    Offline sources are much more reliable.

    For price action, Bob Volman's book "Understanding Price Action" is a great starting place.

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"The definition of insanity is doing the same thing over and over and expecting different results."
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