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Not many good books out there. But for now learn the basics of tape reding by reading Humprehy Neill or Vadym Graifer.
After that stare at the tape for months. The only way you can fully understand it is to watch it carefully and practice. Learn how to seperate noise from info. Learn to watch for price rejection and short-term reversals.
Also check back at the trading video forum, I will try to post a video on tape reading. |
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Amen. Amen. Amen.
Would Boeing tell new pilots to read a book on flying a 747 and then stick them in cockpits?
Would you read a book on Judo and tell someone, "alright now, come at me with that knife."?
Would you read a book on how to play guitar and expect to cut a record when finished?
You can learn from books, tapes and seminars but nothing replaces practice. If you can't afford a real-time datafeed and simulator, at least find a free delayed feed and paper trade. Practice, practice before you step in the ring against the world champions of trading.