Welcome to the club. In my time I have been bitten by the Nikkei, the Dow, Gold and the FTSE and been severely nibbled by the Dax.
Do read the boards, with any luck after doing so and applying the advice, the worst you may suffer is a wet licking.
Yes! I took delivery of Murphy's Tehnical Analysis of the Financial Markets today and look forward to getting stuck into it (Got it from Global Investor if you're interested-they delivered it by courier very next day).
Don't read Murphy on it,
he's covering a lot of different areas quickly, for books Tom Dorsey's 'Point and Figure Charting' covers just about the lot, Weber and Zieg's 'The Complete Guie to Point & Figure Charting' isn't as encyclopaedic but goes into using the charts more (and has a more opinionated approach), Burke (l-o-n-g title I can't be bothered typing) covers the essentials in an afternoon and if you go to the DorseyWright.com website and download all the 'PnF University' stuff you'll get most of the Dorsey book stuff free.... I'd start there frankly, as it's a pretty simple charting style to be honest and I'm always amazed at how long you can make a book on it....
All available from Global, I think T2W has a booksite link?
Hi Compagnito as your looking for longer trades I would recomend a read of Marc Rivallands book on swing trading
As for the Dow today my thoughts were posted on the other board Monday they are gap up Tuesday droping back to 9972 and then head higher into Thursday looking for 171high before down Friday. Longer term looking to head down towards 9700
As always these are just my personal thoughts and are not intended as an invitation to trade
It's not Murphy's fault. Most TAs find the switch from 'normal' indicators to P&F a little disconcerting. The loss of a linear time axis and the ability to differentiate discrete events at that level takes some getting used to.
I'm not sure, but I believe most P&F-ers 'get it' right away and never look back - and are totally passionate about it. Very few, it would seem, persevere in their study of P&F without that initial 'insight'.