Australian (ASX) Stock Market Forum

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Hey, new member and beginner here. Have read a few books on mid and long term trading, however now would like to study shorter term trading. Something using daily charts whereby shares are usually sold within 1-4 weeks of buying them. Does anyone know of such a book that is good for new and would be traders?
 

CanOz

Home runs feel good, but base hits pay bills!
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How about something like : Alan Farley - The Master Swing Trader
 
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You can swing trade stocks for 1 - 4 weeks if you like. If you purchase a pullback and let it run until you see a reversal then you're more trend following through the short term variance but it's the same principle.

For an introduction to trends and the broader market fundamentals in trend following I suggest Taming the lion by Richard Farleigh. He prefers big fundamental shifts i.e. he doesn't like individual stocks but will gain exposure to an index and ride the uptrend. He believes markets have a bias towards trending and that they run further than people think they do. His book is a good way to start from the outside and then slowly move down to your desired market e.g. the stock market. He isn't that knowledgeable on say candlestick charts or stock trading but he is very good at picking overall market trends and showing evidence for trends.

The reason why I like the book is because it gets you off focusing on intrinsic value and more onto the fact that markets move in trends. Intrinsic value is important if you have a tonne of money and going to buy and hold. Warren Buffet can't trade since if he puts any meaningful money into a company he ends up owning all the shares!

After you read Richard's quite reasonably priced book read http://www.swing-trade-stocks.com/index.html It's a free resource to get you started in swing trading and then it recommends other texts from Amazon. The author makes his money because when you click a link to buy a book he recommends Amazon pays him money. He also runs adverts. I think it's a reasonable compromise for providing a good swing trading guide for free.
 
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You can swing trade stocks for 1 - 4 weeks if you like. If you purchase a pullback and let it run until you see a reversal then you're more trend following through the short term variance but it's the same principle.

For an introduction to trends and the broader market fundamentals in trend following I suggest Taming the lion by Richard Farleigh. He prefers big fundamental shifts i.e. he doesn't like individual stocks but will gain exposure to an index and ride the uptrend. He believes markets have a bias towards trending and that they run further than people think they do. His book is a good way to start from the outside and then slowly move down to your desired market e.g. the stock market. He isn't that knowledgeable on say candlestick charts or stock trading but he is very good at picking overall market trends and showing evidence for trends.

The reason why I like the book is because it gets you off focusing on intrinsic value and more onto the fact that markets move in trends. Intrinsic value is important if you have a tonne of money and going to buy and hold. Warren Buffet can't trade since if he puts any meaningful money into a company he ends up owning all the shares!

After you read Richard's quite reasonably priced book read http://www.swing-trade-stocks.com/index.html It's a free resource to get you started in swing trading and then it recommends other texts from Amazon. The author makes his money because when you click a link to buy a book he recommends Amazon pays him money. He also runs adverts. I think it's a reasonable compromise for providing a good swing trading guide for free.

Thanks for the advice, I wasn't familiar with swing trading but I'll have a look.
 
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You may not need any more and there are so many different ways to trade.

What books have you already read?

How do you trade now?

What style of trading interests you? eg trend following, reversals, patterns
 

tech/a

No Ordinary Duck
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If your trading short term you'll be looking at trading momentum.
So you'll be wanting to find trades moving NOW.

Id be looking at high frequency trading and would be investigating VSA
Volume Spread Analysis. (there is a link on the VSA thread for a comprehensive
VSA "E" book worth getting up to speed)
Google

Master the Markets "E" book PDF Tom Williams
its 185 pages youll find it!

Id be looking at Risk management techniques to increase my R/R
Id also be working on my decision making process where by Id want
to be black or white---clearly decisive.

It doesnt matter that your wrong but it matters how long you stay wrong
"Nick Radge"

Chances are you'll be a discretionary trader without the skills
to program and test a trading method.

So for me it would be Pattern Trading or jumping on momentum.
With one eye on Strong support and resistance areas.
Watching volume (high volume doesn't always equate to strength.)
 

tech/a

No Ordinary Duck
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Having said that reading a book or books ISN'T
Going to make you proficient or profitable.

SCREEN TIME or Sim is your best bet before
Live trading.
 

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