Beginner course for Swing trading

[scotty20886]

Hello,

I recently became a member and found some good information, and hope to return some in the future. Does anyone know of a good technical course/book to become a swing trader? I would definitely like to spend some good time paper trading, but I just need a good chart system to learn.

Any feedback with Champion trading formula, tradestars.com or other system would be greatly appreciated.

Thanks for your help.

scotty20886

 

[Zenda]

Short term trading by Toni - Turner a good place to start (paperback & inexpensive) Forget all the Trading Formula Rubbish - They do not work and why rely on some other tosser making money out of you! for a start - Learn the Basics there are some good inexpensive courses less than £400 in the UK - Go back through First Steps and spend some time reading the posts. Don't start a Level 11 like some beginners courses offer!! unless your nuts - learn trading through a trading account with real money not paper trading - thats total rubbish. Try small stakes with for example, finspreads. Follow their free 8 week course - just for starters when you learn these principles - come back and your ready for the next stage (in about 3 years) hope that helps! -Z

 

[scotty20886]

Thanks for the money saving tips Zenda, I'll check out that site/book.

Does it normally take that long to master the basics?

 

[tomorton]

Scotty - have a look at Marc Rivalland on Swing Trading (Marc Rivalland). Not cheap. Not revolutionary. Method works.

 

[scotty20886]

Thanks!

I have heard several good things about Marc Rivalland. I guess a good sound method is worth the cost.

Do you use his methods exclusively, or your own variation to it?

I'll definetly check it out. Thanks for your help.

Scotty20886

 

[dmford]

Online Course

Hi,

I've just taken a career break to try trading for 2 months (having done some part time)

I've read the compulsary "Trading for a Living" by Alexander Elder, and "The Master Swing Trader" by Alan Farley.

I've just signed up for Alan Farley's online course, and first impressions are excellent, along with many testimonials, and Alans own formidable reputation.

Its only $129 at www.hardrightedge.com

Dave

 

[techst]

Hi there. IMHO i would read another Elder book. His latest book Come into My Trading Room is a good read and it's got some original ideas in there and original thought which make it stand apart. John Murphy's book (Technical Analysis of the Financial Markets) gives a great overview of the whole subject and as most know, it's consider the bible of the TA books. Jack Schwager's book are great. And prehaps read a couple of classics like Charles MacKay and/or anything on Jesse Livermore to get you inspired. Thanks for reading and i hope your trading goes well.

 

[tomorton]

Hi scotty

I do enter Rivalland trades but also my own. Too early to say who'll be more successful long-term. He would go long on the day after the price makes a bottom and that day's high is broken upside but the low holds. I start going long in an uptrend when the reaction downwards dips below the 14DMA, but only small positions, adding small positions on a scale as it falls.

Can be a bit scarey though, as at present, when I am long since 60 points above where we are now on the FTSE100. Incidentally, I suspect pure Rivallandists would have gone long today (late this afternoon) at 4392+, yesterday's high. Their stop-loss would be 4357, yesterday's low.

 

[beartrap]

Can be a bit scarey though, as at present, when I am long since 60 points above where we are now on the FTSE100. Incidentally, I suspect pure Rivallandists would have gone long today (late this afternoon) at 4392+, yesterday's high. Their stop-loss would be 4357, yesterday's low.

Tomorton

The UKX made a swing low on 14 January before giving a continuation buy signal and resuming the uptrend. When it crashed down through that swing low the trend turned to down - so anyone following Gann / Rivalland could now only be short or flat in this index.

The CAC, DAX and DJI have yet to give a sell signal by breaking their most recent swing lows, though none of them has put in an 'up' day today.

beartrap

 

[tomorton]

Hi beartrap

I see you are right - short or flat it should be.

Thomas has a short attention span - could do better....

 

[Naz]

Think about doing a beginners course,run by a trader, that is 1-2-1 tuition for under £400.One that shows examples on a live market.Like the one that T2W run on the home page of this site.Thats my tip,because i run it!

 

[chump]

Scotty,
Reading your post I don't think you are ready for either real or paper trading. Read more first definitely. How confident do you feel about reading charts? Do you know what order to read timeframes in? Do you know which timeframe you should be using for the trade that you want to take? Can you read price action?

Even though at times you will feel you are reading stuff that will not be useful still read it and there will come a time when you can just discard most of it,but in doing so you will understand why you don't need it. That is an important point to get to.At that point your charts will look a lot less like spaghetti junction and will become a great deal easier for you to read.

Forget Champion Trader and similar fluff courses they can teach you nothing that you cannot get for free. The fact that you don't know that is the indicator of where you are at with trading at this time and why I suggest read and read more.

PATIENCE at this point will save you a lot of money.

When you are ready to jump forward to trading then arguably you might want to take a course. Personally I would not take any online courses . If you have the funds I would go for individual tuition that way if the bugger doesn't deliver he has no where to run to and no one to hide behind if you follow my drift.

Use these BB and others and do a search on key trading words. A year ago if I had not done what I am now suggesting you do I would have been slaughtered and a lot poorer. Unless you are so old you are struggling to hold up the weight of your pension book then you have time so use it.

Use the web. Amazing what you can get it here and it is FREE.

Cheers