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hi,
I have a friend who is really into commodities trading and I would like to get involved. I've read market wizards and trading for dummies. that's about the extent of my knowledge. actually, i think i have a very good sense of risk management and bankroll control. if anything, my tight wad conservativeness has hindered my poker playing because i just never take shots and move down at the slightest sniff of trouble. anyway, it keeps me comfortable and seems like the right attitude to have when starting out in the markets. I'm pretty lost when it comes to even the most basic market nuts and bolts however. Any suggestions on good threads, web sites, or literature would be greatly appreciated. by the way, i saw the reading list thread at the top of this forum but it's from march of 06 or something and i didn't want to thrust it back into action. if this post is way redundant, feel free to lock it and point me in the right direction. I'd like to stress that i'm not at all interested in the stock market. right now, i'd mainly like suggestions on technical analysis, candlesticks, and whatever else you think would be useful. gracias. dorf |
#2
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by the way, how is this book?
Candlestick Charting Explained (3rd Ed.) by Gregory L. Morris |
#3
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If you're that conservative, why on earth would you be interested in futures? They are leveraged out the ying yang. To make it worse, they have a daily limit move. You could get stuck in a position that makes a lock limit move against you day after day and you can't get out. All you can do is keep sending your broker money to cover your margin calls. You're like a guy that's afraid of heights asking for advice on BASE jumping.
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#4
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[ QUOTE ]
If you're that conservative, why on earth would you be interested in futures? They are leveraged out the ying yang. To make it worse, they have a daily limit move. You could get stuck in a position that makes a lock limit move against you day after day and you can't get out. All you can do is keep sending your broker money to cover your margin calls. You're like a guy that's afraid of heights asking for advice on BASE jumping. [/ QUOTE ] I think there are plenty of traders who keep their risk low. at least the successful ones. I think if it was impossible to manage risk, there would be extremely few, if any, lifelong successful futures traders. There are, however. And I'm sure they are the ones who manage risk in an environment where it is so imminent. But anyway, got any book ideas?? how about other trading forums?? |
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