Trading Resources
Below I have listed products that I highly recommend every trader buy at some point. I stand behind these products as I have personally used them and benefited from them in my trading journey. I have attempted to pick out the KEY products for each section of your trading education – candlestick reading, price action, indicators, technical analysis etc. I have read purchased TONS of resources educating myself, so my goal is to direct you towards the resources that I feel are the most beneficial. I have also provided a short review of each product. Take a look!
Technical Analysis
| Product | Smarty Trades’ Recommendation |
|
Brian Shannon |
This book literally changed my trading career. I can say that with 100% honesty as I never looked at the markets the same way after reading this book. The first place I read about multiple time frames was actually in "Come Into My Trading Room" by Alexander Elder, but he uses it a little differently and never explained it as well as Brian Shannon does in "Technical Analysis In Multiple Time Frames". The material in this book is similar to the Dow Theory, which I had no clue about before reading this book. Brian does an excellent job of explaining the 4 stages of a stock and when you want to participate in your trading and when to sit out. He also goes in depth about WHY the market has it’s stages and what is going through traders mind at each stage. Technical Analsys In Multiple Time Frames will give you the foundation you need to analyze any stock. Honestly, if a new trader came to me I would recommend this book for them to read first as it gives an amazing overview of the market in an easy to read fashion. I believe with this book and a little experience actually trading you could become successful with this book alone. It is a little pricey, but is well worth it. After reading the book, I also recommend you sign up for Brian’s StockTwits premium service to see his analysis in action. Watching his videos will bring any foggy areas in to clear focus. Smarty Trades Rating: |
– 5/5 Stars
Trading Psychology
| Product | Smarty Trades’ Recommendation |
|
The way I read this book and suggest you do the same is read a new lesson or chapter every single day. You can sit and read the whole thing, but there is a lot to take in and changing bad habit is hard to do. If you can’t overcome the fear of losing money, the fear of losing, greed or just simply lacking confidence this is the book for you. Each of the 101 lessons is defined, picked apart and then discussed on how you can progressively fix the problem. Smarty Trades Rating: |
Candlestick Charting
| Product | Smarty Trades’ Recommendation |
|
If you want to use candlestick charts to the fullest you need to understand what each individual candlestick is trying to tell you. That is the benefit of using candlesticks instead of say a bar or line chart. Each candlestick tells you something about what the buyers and sellers. This book is written by Steve Nison who is seen as "the king" of candlestick charting in the western markets. Steve did years of research, talking to Japanese traders and translating books written in Japanese to bring candlesticks to the western world. There are many great books out there in the market, but this book is the most extensive and accurate book you will find. Not to mention it is well explained, easy to read and follow. You will learn the most high probability candlesticks and some more obscure ones that you may not use often, but those can also be the most profitable patterns when they do occur. I have provided an alternate book, but honestly you don’t need any other book to successfully trade candlesticks. It is a bit pricey, but it holds it’s value. I highly recommend this to any trader. Smarty Trades Rating: |
Premium Online Services
| Product | Smarty Trades’ Recommendation |
|
Coming Soon |
I am not sure how Anne Marie classifies her trading style, but if I had to do it, I’d say she is a scalper who plays higher price stocks. She uses a lot of indicators compared to some other traders, but her system is sound, works great and is easy to understand once you get everything down. Anne Marie’s style is based on fibonacci, price levels and 2-3 different indicators to confirm entries and exits. After watching a few of her daily videos you will truly understand how accurate her system is because it’s so systematic and disciplined. Anne Marie isn’t afraid to leave money on the table either, she wants to get in the trade, take out her piece of the action and get out – no questions asked. No fear. No greed. On top of it all Anne Marie is a great teacher and the videos she posts are easy to follow which makes learning a breeze. Smarty Trades Rating: |
| Coming Soon |
If you haven’t already, I recommend you purchase and read Brian Shannon’s book "Technical Analysis In Multiple Time Frames" AND use sign up for this service so you can see the book material in action. Brian is easily one of the best teachers online in the trading industry. His videos are also the best teaching resources I have seen online. He is an excellent teacher and will make things sound so easy as you watch him pick apart a stock. Brian is mostly a swing/trend trader, but I’ve found that you can also day trade a lot of his trade ideas. When the market is trending strongly, his picks will easily take off enough in one day to suit your day trading. You will typically get 3-5 stock trading ideas every night for the next day and a video explainig WHAT he sees, WHY he wants to play it and HOW he plans to play it. Another trader with very sound and disciplined methods. You won’t be disappointed. Smarty Trades Rating: |
