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If you needed one-on-one help with any trading issue, how much would you pay?
The biggest issue with this is( I know im off course a bit) many people pay for results not the knowledge. let that sink in, most people buy this stuff because they want a quick buck not because they want to take a little bit of time off the learning curve. If you honestly want to learn and grow then I think this is the best route out there if you can find quality help. To speed up this process, there is no correct dollar limit.
For the info I've gotten from @TheShrike I would have easily paid for that, but I one wanted to learn how he looked at options not just the money he makes from it.
-P
"Truth is not what you want it to be; it is what it is, and you must bend to its power or live a lie"-Miyamoto Musashi
Other than buying trading books; a Chris Manning course I purchased in the early 2000's; and having a collection of Stocks and Commodities magazine spanning all the way back to the very first original issue (hard copy),... I prefer learning on my own. I've met too many people who profess to know how to trade, but didn't realize they were lacking or one dimensional in their trading approach.
Trading first started as a curiosity for me back in the early 2000s. After losing of lots of money during the dot.com bubble, I figured someone was making money and it wasn't me. I then decided I needed to educate myself, so jumped down the rabbit hole and started on my journey to trading knowledge.... since then, I've read hundreds of trading books (most of which were completely useless, at least not practical) and have spend literally thousands of hours manually backtesting trading systems I designed myself. I remember starting out using charting platforms like TradeStation 2000i; then progressing to Medved's Quote Tracker; then NinjaTrader 7; and now NinjaTrader 8. I never intended for trading to become such a big part of my life, but I can now say I have a trading system that's completely unique and that I intimately know and trust.
Trading for me was never about the money and future riches but the quest to understanding and learning how to trade. It's been two decades and countless hours of hard and meticulous work, but trading, for me, has always been a passion/obsession and a labour of love!
I finished writing some code for what I was explaning. I call the indicator "Trend Tracker". I started a new topic in the "Platforms and Indicators" board. Just look for the text "Trend Tracker".
So, forget the details of what I said before LOLOL. Sorry about that! The concept I was talking about is the SAME, but it turns out the code is a little different than what I explained. So I kind of deserve some eye rolling heh. I decided to not use an average deviation at all, instead I just find the highest High or Low over a one wavelength lookback, since that's what the average deviation is trying to approximate anyways, and it's simpler. And, the concept is still to use two wavelengths for the EMA factor, however, I realized that I had to use a smaller amount of bars due to the 'compounding effect' of EMAs, and I ended up noticing that multiplying it by .618 seemed to be the right value. I'm not 100% sure about that ratio or the math, I just ran some examples and they all seem to end up at that ratio, so I figure it may be correct. I figure spirals in nature are a similar compounding effect, so maybe the phi (.618) ratio has something to do with that. Anyways, check out the indicator, and compare it to Bollinger Bands (run both at the same time on some charts) -- I think you'll like my indicator better. Also, I posted a readme text file on MC's site, so you should read that if you're interested.
If anyone wants to discuss the indicator, just go to my topic in the other board.
Technical Trading Books:
To tell you the truth, there is no one book(s) that you can read that will give you magical insight into the mechanics of the markets. It's really the culmination of all that you read that eventually make things clearer. In the past, when I started reading a technical trading book, my goal was to find one page or even one paragraph in the whole book that would inspire a single trading idea that I could spend a few days/weeks/months testing..... if that happened, the book was a success. I found most books to be shallow and did not go into the minutia of how to trade all market conditions. Many books will quote examples that are applicable to certain conditions but in hindsight failed miserably in other market conditions. Other books would generalize too much, which I didn't find helpful (i.e. Elliott Wave theory or Dow theory).
There are basic trading technical books that all serious traders should have and read, like: Edward & Magee's "Technical Analysis of Stock Trends"; or Schwager's "Technical Analysis on Futures"; Kaufman's "Trading Systems and Methods". I also recommend Nison's "Japanese Candlestick Charting Techniques"; and Gartley's "Profits in the stock Market".
Once you gain a higher level of technical proficiency, you begin to realize that you need fewer indicators in order to read the markets and that reading price action plays a more important part in predicting future price movement. I have both of Bulowski's books on chart patterns and I use to trade patterns (many years ago). I'd win half my trades but I didn't always know when to enter/exit efficiently. Once I understood the conditions (price action) that created chart patterns, I was better able to consistently win bigger trades with better entries/exits. Price action and what causes price action become key for me. That said, I'd recommend all three of Al Brooks' books on price action. They're a little dry and at times difficult to follow, …but what the heck, I use to be a CPA and I had to read accounting textbooks in university (nothing will put you to sleep faster than accounting textbooks).
Trading Psychology Books:
The most useful books I've read, dealt with trading psychology. As with all performance activities at an elite level, the mental side plays a critical role in achieving peak, consistent/long-turn results. You can gain technical mastery of the markets but if you can't pull the trigger during entry opportunities and exit warnings..... it's almost like you have nothing. You have a skill, but you can't put it to use. Gaining mental proficiency is a must!!! That said, Alexander Elder's book titled "Trading for a Living"; Ari Kiev's "Trading in the Zone"; Mark Douglas also has a book titled "Trading in the Zone; ...and the most impactful trading psychology book I've read is Gary Dayton's "Trading Mindfully". Once you've mastered the technical side of trading, pour lots of effort into the mental side too. Once you've gain proficiency in both the technical and the mental side of trading, you'll really start making money day in and day out. It doesn't mean you'll win every trade but it will mean you'll trade confidently because now the odds are heavily in your favour and you have the ability to assess and trade any market condition.
