I get a lot of the same questions from new traders, and they are very, very good ones.
So I decided to go ahead and post some resources for you “newbies” to get your answers. This way not only can you get the answers to the questions you’re asking me, but you’ll also have the resources to find answers to other questions that may come up in the future.
Disclosure: I recommend the resources below because I feel they are of great value, but I want you to know that I am a compensated affiliate with Amazon.com for all the books listed, INO TV and Trading Mind.
Here are some of the most common questions I receive from new traders:
1. MOVING AVERAGES: What are they and how are they calculated?
A great resource for these questions: Stockcharts.com Chart School
Go there and click the letter of the term you‚Äôre looking up, or type it into the ‚ÄúSearch the Site‚ÄĚ at the top left of the navigation bar.
- What is a market order?
- What is a limit order?
- What is a stop ?
- What is a stop limit?
A great resource for these questions: Stockcharts.com Glossary
Go there and click the letter of the term you’re looking up, or type it into the “Search the Site” at the top left of the navigation bar.
3. WHAT IS A GOOD BOOK FOR BEGINNERS TO LEARN THE BASICS OF TECHNICAL ANALYSIS?
I’ve had good feedback from new traders on “Technical Analysis for Dummies.”
4. WHAT TRADING COURSES DO YOU RECOMMEND?
Of course I like my own courses the best! You can read all about them here: Top Dog Trading Courses.
Beyond that, INO TV is an incredible value. For a very, very low price you get access to video trading seminars from some of the biggest names in trading without having to pay for each course.
5. WHAT DO YOU RECOMMEND FOR CHARTING SOFTWARE, BROKERS, ETC.?
Visit my Recommended Resources page where I list all of these.
6. WHAT IS YOUR FAVORITE TRADING BOOK?
“High Probability Trading” by Marcel Link
7. I NEED HELP WITH TRADING PSYCHOLOGY. WHAT DO YOU RECOMMEND?
“Trading Mind” hypnosis CD-ROM by Jake Bernstein
“Trading in the Zone” by Mark Douglas
8. WHERE CAN I GET FREE DAILY CHARTS?
9. WHAT ARE THE BEST TIME (CHART) INTERVALS FOR TRADING?I’ve addressed this in detail in 2 former posts in my blog. You can view them here:
What is the Best Interval for Day Trading?
What is the Best Interval for Day Trading? Part 2.
10.¬† WHAT ARE GOOD RESOURCES WHERE I LOOK UP WORDS AND TERMS ABOUT THE MARKETS TO LEARN MORE?
I hope you find these resources helpful.