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发表于 2011-9-11 02:08 AM
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One thing not perfect, most textbooks are really too old (ten years ago published).
Technical Analysis of the Financial Markets 1999 (English version)
Technical Analysis from A to Z 2002
At post-911 time, especially after 2008, many changes happened.
1. More hi-speed trades, programmed by super-computer. GS is No#1 in this field. less human impact. As results, individual trader gets much harder to win the MM.
2. ETF. It's an evil. No fundamental. No FA. It's, in fact, an evil designed for games by item#1 above. Its TA is primarily programmed by super-computer. As mentioned, it makes much harder for individual trader to win the market. That's why many advises in Hutong NOT touching the ETF. But you are forced to play with ETF (see reasons by items #3). MM only loves waves, hence market swings 5% even 10% everyday.
3. Anemia spreadout stocks of all sectors but EFT. Where money goes? sucked by ETF (including SPY...)! Example, finance sector, a stock price used to be 70s' ~ 80s', now just 7~8. I am playing RDN, was 70s' now only $3, its' daily price-vol. is about $10M. In contrast, FAZ price-vol. can easily hit $1B a day. that's 100 times difference. As individual, go ETF or not, is your 1st decision.
Keep learning is my choice in today’s situation. Thanks Cobra and his Hutong, many chances to learn. |
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