So what now?

This is a discussion on So what now? within the Educational Resources forums, part of the Commercial category; I've just finished my finals, and with the celebrations over, it's time to decide what is next. I had considered ...

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Old Jun 10, 2001, 2:27pm   #1
Joined Nov 2000
I've just finished my finals, and with the celebrations over, it's time to decide what is next. I had considered going into share dealing full time, but I remember a thread that I think Titus-UK started where the consensus was this is not a great idea. I still want to learn TA and use it to trade regularly. What is the best book to start with? A book by Murphy seems to be well recommended, but I can't remember its name. Anyone know what it is or where I could get a copy? The board seems to be getting back on track again just at the right time for me with some excellent contributions from Darth, Riz etc (you know who you are) but I feel we need more regular contributors to boost the quality of info. Once I start learning TA I'm going to need quite a bit of help so hopefully there'll be plenty of you about to come to my aid. Thanks

Marty
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Old Jun 10, 2001, 2:48pm   #2
 
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Marty,

I hope the exams went well.

My own feeling is that it's always nice to have a guaranteed income whether it's as a source of capital or just to take the pressure off of your trading.

In terms of books I've just rationalised my book shelf and rate the following books are being essential:

Murphy - technical analysis of the financial markets
Pring - Technical Analysis Explained
Pring - Momentum
Nison - Japanese Candlestick Charting techniques
Achelis - TA from A-Z
O'Neil - How to make money in stocks
Bulkoswki - Encyclopedia of Chart Patterns
Schwager - Market Wizards
Dobson - Understanding Bollinger Bands
Market Speculating - Andrew Burke

There are many other books out there but I consider these to be fairly comprehensive.
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Old Jun 10, 2001, 10:36pm   #3
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Books.....

Hi Marty,

Hope those exams went better than mine!!

My dream is to be a full time trader. However, I am a realist, and know that it can only happen when I am either so good that I hardly ever choose a losing share, or I have enough money in safe places leaving a sizeable amount of non-essential capital to play with.

I am uncertain as to which is the least likely!!! Until then, a regular income is a must!

In terms of books, Murphy and Nison are both excellent. My next buys are Bulkowski and Dobson from Darths list - both have been recommended before.

All the best,

Mark
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Old Jun 10, 2001, 11:54pm   #4
 
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Marty,

I think that to trade full time you need a variety of strategies so that you can make money no matter what the market is doing. So, there is more to trading than buying shares at one price and selling at a higher price. Options can be used to generate income in a sideways market, CFDs to gear up and to go short. capital shares of split capital investment trusts to gear up, zero's to give a fixed sum on a defined date for very low risk etc. Get a day job and make sure that you can make money trading/investing before going full time. How about trading the US in the evening?

I agree with the reading list, to which I would add :-

The Zulu Principle by Jim Slater

How Charts Can help You in the Stockmarket - William Jiler (only about £16 and an absolute gem!)

Trading for a living by Alexander Elder.

Options Plain and Simple - Larry Jordan


And finally, with exams behind you, get out and have a life! )

Regards,
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Old Jun 14, 2001, 2:22pm   #5
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martymcc started this thread Thanks guys. I'm going to order Murphy and Jiler from bookshop.co.uk. Is the US version of Jiler OK Roger? Meanwhile the job hunting goes on!

Marty
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Old Jun 15, 2001, 9:31pm   #6
 
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Marty,

The US version iof Jiler s fine. It is the principles that are important, not the stocks used as examples.

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Old Jun 16, 2001, 12:20pm   #7
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Options plain & simple - Lenny Jordan (Not Larry)
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Old Jun 16, 2001, 4:52pm   #8
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martymcc started this thread Cheers. One last question before I order them. Is the study guide that complements Murphy any good or would it be waste of money?

Marty
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