Trading Chaos by Bill Williams is also interesting if you like to understand the psychology behind the chart.
Trading Chaos by Bill Williams is also interesting if you like to understand the psychology behind the chart.
Watch out for old unfiltered books. Some concepts no longer apply in current markets with high frequency and something.
It's one thing to know where the support is, another to know if it's going to break or not. That's what you need practice for, not just theory.
Yeah, I'm starting to see that this isn't memorizing patterns but understanding context.
The books teach you the tool, but you have to learn how to use it with judgment.
If you just read Murphy and hope to get profitable, you're lost. It's like reading a cookbook and thinking you're already a chef.
So where do I start? Because if everything is practical, what book gives me at least a good basis for not being so lost?
Start with Murphy for the technical base and Douglas so your head doesn't become your worst enemy.
After reading, build your own glossary with real examples of your graphics. It will help you more than a thousand underlined.
Do not ignore classic books just because they are old. Many concepts remain valid, even with high frequency.
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