SuburbanDog
2 posts
msg #52795
- Ignore SuburbanDog |
7/4/2007 10:55:58 AM
Can anyone recommend a book(s) for creating technical stock screens? I have several books on technical analysis, but am looking for a book, white paper, etc. that provides specific guidelines and suggestions for combining various indicators, chart patterns, into particular stock screens. The books I have include:
(1) Trading for a Living by Elder
(2) Beginner's Guide to Short-term Trading by Turner
(3) Screening the Market by Gerstein
(4) Technical Analysis from A to Z by Archelis
(5) Japanese Candlestick Charting Techniques by Nison
(6) Mastering the Trade by Carter
(7) Technical Analysis by Kirkpatrick & Dahlquist
Thanks!!
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heypa
283 posts
msg #52797
- Ignore heypa |
7/4/2007 4:41:04 PM
All the information you need is on this site. I think you are a newbie with an early on newbie approach to stock speculating.I think you should approach this activity as not how much can I win, but rather how can I participate and not lose.This will lead you to the correct approach to this uncertain activity.That approach is to consider that how you get out is much more important than how you get in. To paraphrase TRO It doesn't matter how you picked the stock. Now that you have it you must some day sell it.How you do that will determine whether you will be a successful speculator.
There is an old saying related to buying and selling. Rule number 1 Never take a loss. Rule number 2. Never forget rule number 1. While this is (contrary to M4M} impossible you should always try to minimize losses and let your profits run. A follow stop is a good way.
Again stockfetcher has on this site all you need to be succesful in their "how to write filters" and in the wealth of information in the forums.
We humans dearly love to complicate things. Complicated solutions are usually less effective than simple ones. Keep your approach as simple as possible. Start slow with little at risk in the beginning. As with most things some luck is involved since we can't predict the future.We can at best only go with the flow.
Good luck.
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SuburbanDog
2 posts
msg #52799
- Ignore SuburbanDog |
7/4/2007 6:54:19 PM
Thanks heypa! Yes, I am definitely new to investing, at least from a technical analysis perspective and I have always tended to overcomplicate and drift into paralysis by analysis.
Thanks again for the advice.
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nikoschopen
2,824 posts
msg #52800
- Ignore nikoschopen |
7/4/2007 8:12:57 PM
If you don't mind spending some money, it's worth getting Encyclopedia of Chart Patterns, 2nd ed. by Thomas N. Bulkowski and Technical Analysis of Stock Trends, 8th ed. by Robert D. Edwards and John Magee.
By all means, keep in mind that chart analysis and money management, however disparate they might be, are like two faces of Janus. One points to the past and the other points to the future.
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slotmarket
59 posts
msg #52801
- Ignore slotmarket |
7/4/2007 10:41:26 PM
"I think you should approach this activity as not how much can I win, but rather how can I participate and not lose.This will lead you to the correct approach to this uncertain activity.That approach is to consider that how you get out is much more important than how you get in. To paraphrase TRO It doesn't matter how you picked the stock. Now that you have it you must some day sell it.How you do that will determine whether you will be a successful speculator."
heypa,
That is most excellent advice for all levels of gamblers in the slotmarket. Wish I had that drilled into my head from the beginning, I wouldn't have the nasty and costly habit of always breaking this cardinal rule of survival.
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