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Feb 12, 2016
3:10:31pm
CougarThug Walk-on
Get acquainted with John J. Murphy
His book, "Technical Analysis of the Financial Markets", is a good place to start, or reacquaint yourself with technical analysis.

I also liked Chuck Zuo's "Day Trading Strategies...".

If you already are up to speed on the Technical Analysis basics, then Steven Achelis', "Technical Analysis A to Z" is a good read.

I had an older book by Edwards that I really liked. Can't remember the name. I loaned it to my nephew and he "lost" it.

The technical principles these books discuss can be applied from both a macro and micro perspective.

I had a friend in our private traders message board group that had great success day trading high volume stock options using 1, 5, & 15 minute tracking, plus a longer term daily or weekly trend. He became adept at predicting direction changes and frequently managed to make 20-40% on a single trade often buying and selling within 20-30 minutes. He always moved to cash before the market closed to avoid overnight surprises, and frequently completed all his round trips before mid-day. Many times he hit a home run, and sometimes hit for the cycle in a single trading session. He had the philosophy, though, of ringing the cash register frequently (hitting singles), rather than always hitting for the fences. He did this using two old Windows 95 computers. BTW, he was in his 80's when he taught himself how to trade options.

I watched him using his technical analysis to make multiple trades for a great grandson's account over a thirty day period. The account started at about $900, and was around $28,000 by the end of thirty days. He also posted to the message board every trade at the time that he made it.
CougarThug
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CougarThug
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