Does Anyone Know Anything About This Book "MASTER TRADER"

[CarpeUK]

CarpeUK was asking a specific question. So far, no one has been able to give him a specific answer.

Soya,

Thank you, i am glad someone can see that but it is ok i guess no one has read it so they cannot comment.

Barjon,

I have checked that thread out and it is good, i understand and it is very simple...here it comes BUT how can you work out support & resistance & trendlines?

Any threads that can answer this question would be good unless you can give me a simple answer...Thanks again

 

[dbphoenix]

Soya,

BUT how can you work out support & resistance & trendlines?

Any threads that can answer this question would be good

The following thread may be of help:

http://www.trade2win.com/boards/showthread.php?t=11104

 

[barjon]

CarpeUK

Prices tend to move in a series of peaks and troughs. A series of higher peaks and higher troughs is an uptrend and vice versa for a downtrend.

The troughs (reaction lows in an uptrend) give support showing a level under the market where demand has been sufficiently strong to overcome selling pressure and vice versa.

An up trend line connects the rising reaction lows, a down trend line the falling peaks.

If you want a good book on Technical Analysis try John Murphy's Technical Analysis of the Financial Markets - it's one of the best. You may be able to get a second-hand copy via Amazon.

good luck

jon

 

[CarpeUK]

CarpeUK

Prices tend to move in a series of peaks and troughs. A series of higher peaks and higher troughs is an uptrend and vice versa for a downtrend.

The troughs (reaction lows in an uptrend) give support showing a level under the market where demand has been sufficiently strong to overcome selling pressure and vice versa.

An up trend line connects the rising reaction lows, a down trend line the falling peaks.

If you want a good book on Technical Analysis try John Murphy's Technical Analysis of the Financial Markets - it's one of the best. You may be able to get a second-hand copy via Amazon.

good luck

jon

Jon,

Can pivot points also be used to work out support & resistance?

 

[stevet]

CarpeUK

the problem with writing a real trading book is that no one would buy it -but it at least only needs to be maybe a bit of a page to sum up all the important points

as it would just state -

there is no half way house where you can start by making a little in order to build up to the big bucks, making anything for at least a year is real unlikley

that you will have to keep going for at least that year day in day out just watching the markets and trying to find you own edge to make a profit

that you wil probably lose a considerable amount of money on the way to success

that the only real way to at least have a chance to become successful - is to get a job as a trainee with a trading company - because they will at least be forced to train you to try to make sure you are not losing money since it is their bucks you would be playing with

and at the same time - you would see why trading is such a skill worth learning - as you would see others who were making thousands each and every day

 

[barjon]

Carpe UK

A true pivot point is a price bar that is higher (lower) than the bars that come before and after. They often form swing highs (lows) and can be used to mark resistance (support) levels.

There is a pivot technique for intraday trading in an attempt to project tomorrow's highs and lows (ie: expected resistance and support). This projects 2 levels of support and resistance (R1, S1, R2 and S2). There are pivot point calculators around to give you these figures without working through the arithmetic - you should find a link somewhere on T2W if you search for pivot points. I don't use them myself.

 

[carlosd]

Hi carpeUk.

Depending on what it is your looking to trade, but I would recommend reading Chartmans startegy.

http://www.trade2win.com/boards/showthread.php?t=5063&highlight=trading+dow+summary

I'd also recommend following CM's thread.

Carlos.

 

[FTSE Beater]

Hi CarpeUK

Does this thread help. It rolls on from the basics of trading
http://www.trade2win.co.uk/boards/showthread.php?s=&threadid=7607

 

[SOCRATES]

people, in general, buy trading books for one reason - to find out how to make money trading - but not in generalities - they want specifics - or at least after reading a number of books - they will learn that generalities only make money for the writer of the trading book, by you buying his book - but not for the people who buy the books to learn how to trade

so even if you found a trading book written by a real trader, it does not give you the one, two three of making money in the markets - since in general - that does not exist

there are some of course who may buy a trading related book and get off on quoting from the book, or discussing the merits of the book with other learners - and they of couse did get value from the book - but my comments are addressed to those who want to make money from trading - not get off on being associated with trading

I have only just seen this and must comment you are absolutely right. The very first line says it all, there is no need to go any further. This is the wrong reason, but if you tell most ordinary people they will argue and argue. The correct reason to buy a book is to learn. More importantly, to learn what must not be done. This ordinary people do not do and as a consequence get fastened on the greed factor first and everything else last. This is a disaster, and this is the reason why the great majority cannot and will not succeed, as they place their love of money above everything else, to their detriment.

 

[James C]

Re free at spytrdr - no longer free!

 

[BlueChip Trader]

James C,

If you need the book then please let me know.