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Liquid validity
there's a book out there called "no bs day trading" - it's $40 and comes with a video.
That'sd give you some insight.
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there's a book out there called "no bs day trading" - it's $40 and comes with a video.
That'sd give you some insight.
Just think for a second...
That is one of the very few ebooks on trading with any value. It is also one of the cheapest ebooks on trading.
Why pirate it?
Well - I would imagine Arabian could give a third type - he's using the order book to define his entries.
Order book scalping doesn't require fundamentals or a chart so it's not TA or FA.
I always think of Technicals as "Technical Analysis" AKA - all the stuff on trading sites & in trading books. As such, there is nothing in any TA book I've seen about the games that are played where people with deep pockets sucker other traders into positions and then run them over.
A simple example would be an intraday double top that moves down, gets sellers in and then someone comes along and pushes price up so that they all puke.
If you were specifically trading these scenarions, I guess the TA people could lay claim to it being in their domain. In my opinion, it's somewhere outside of TA because TA won't ever tell you which double top is a fake and which isn't. In fact, you can never know but you can make an educated guess.
It seems to me, the TA people want to claim any technique as part of their domain. Spotting a head fake and spotting a moving average crossover or candlestick pattern isn't the same game or even close.
One final thing - someone on this thread has said that fundamentals give you an extra edge. I don't see how this can be the case unless you are finding something out that isn't common knowlege.
This has been on another forum of late. I think the differentiation is in cause and effect. Technicals is the analysis of effect. I think that when you are looking for cause based on price action/order flow, then you are not in the domain of TA any more.
It seems to me that there is a massive difference on opinions with this, i know many successful traders who say "I don't even look at the charts, i trade purely on Fundamentals" yet i also know successful traders who don't care about Fundamentals and simply trade on what they see / calculate in the charts.
Which do you prefer, and why?
It seems to me that there is a massive difference on opinions with this, i know many successful traders who say "I don't even look at the charts, i trade purely on Fundamentals" yet i also know successful traders who don't care about Fundamentals and simply trade on what they see / calculate in the charts.
Which do you prefer, and why?
The main problem with fundamentals is that value has bu99er all to do with price.
I say this with conviction having taken a Morninstar in stock valuation...
Discounted cash flow anyone ?