Trading Sites to Make Your Life Easier #4

I had a great week trading and I hope you did too. Before we review this weeks sites I would like to tell you about a few changes that will be happening in this section. This week I will be adding a chat schedule( hosted by me) as well as a few educational posts( tech and fundamental). I hope to have a few different articles besides my weekly review and some entertaining stories. Help me out with some posts and get this page truly interactive.

This week I want to concentrate on sites that educate you in strategies and analysis. http://www.stta-consulting.com/TEXT_LEVE... is basically a treatise on trading strategies and risk management. This is rather dry stuff but if your going to survive this game these kinds of documents are part of your life. One of the points made here is that small cheap stocks are to risky and hard to trade for beginners. Dead on right. I have seen more traders wash out because they thought they could maximize their returns early on by trading cheap stocks( "hey I can buy more shares"). Buy fewer shares of a larger more liquid stock and build up. Penny stocks are full of hypesters and they love to crush novices. Always remember that!If someone is trying to pump you up on a penny, get away from him. He is not your buddy and he sure isn't trying to help you.There are many solid beginner strategies listed in this document and it can help you with a few ideas. By the way, I forget and trade a penny or two a year and then I remember my own rule, while I am looking at the blood on my screen.

http://www.taguru.com/ is a little confusing but quite educational. The site has a great news ticker and set of scans and charts. There are also fast quotes and stock picks based on technical analysis. the most striking section is definitely the education page.There are articles and examples of charts(with explanations) here that are a real find for the newbie. They have compiled a great set of educational links with glossaries and resource listings.Check out the example of three black crows and the explanation with it. While I disagree with the author on the reliabilty of candlestick charting, his knowledge and ability share it with you can't be overlooked.

http://www.e-analytics.com/techten.htm is another dry read but gives some valid points for beginning traders. It also has links to some great reading material and it stresses the value of learning about your trade. You know I always say you can never read too much about trading and this is reinforced here. I also belive that you can never see enough differing view points because thye will either help validate your trading strategy or help you make up your mind to find a new one. Of course you can always blend styles and theories( mine is a wild hybrid) and tutorials like this are key to finding your finished product.

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