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Historical Results

Throughout the book you will find references to historical results or to statistical summaries. Unless otherwise stated, these are as up-to-date as possible to the time of this writing. I warn you that with time, these staВэtistics will change. They should therefore be updated either through your own research or by consulting with my office. Should you have a question regarding their current applicability, please don't hesitate to contact me.

Note also that my examples are taken primarily from current market activity. I could easily hunt and search for historical examples which illustrate my points perfectly. These would, however, be textbook cases and, therefore, misleading. The reality of day trading, indeed, of all trading is that nothing works as well in reality as it does on paper. This is a fact which I must emphasize early and often so that you will, above all, emerge from this book as a realist.

Do Your Own Research

I always encourage individual research by traders. There are so many ideas which can be applied to today's futures markets that any one indiВэvidual does not have a monopoly on research. In fact, every trader is so very different in his or her perceptions of the markets that distinctly difВэferent methodologies and applications will be visualized and developed by different traders. Some of the ideas presented in this book may spark in your mind concepts and methods which could prove highly profВэitable. Don't allow yourself to be restricted or encumbered by my words, rather use my work as a starting point for your own good research. Certainly if you find that my techniques are working for you, then continue to use them and adapt them to serve your own purposes.

I always look forward to hearing from my readers, particularly if they have feedback on the techniques I've taught and /or if they have develВэoped new methodologies which improve upon those suggested in my books. If you have developed your own trading methods and are willing to share them, then I most certainly invite you to get in touch with me.

Practice

Practice is extremely important. It is absolutely necessary if you are to fully implement the indicators, concepts, and topics discussed in this book. I urge you to practice in real time as soon and as often as you can. Learning to day trade from a book is very much like learning to ride a bicycle from a book. None of what I am about to teach you will crystalВэlize into profitable action until you get on the bicycle and begin to ride it. Hopefully you will not have to fall off the bicycle too many times before you understand the actions which go along with my words.

Getting Started

Aside from the motivation and persistence which are required for sucВэcess in any venture, you will not need any other tools in order to get started with this book. I will make a few suggestions however which may prove valuable.

1. Read slowly. Although you may feel that the subject matter is very straightforward and simple, please read through it slowly, first for the general idea, and then a second or third time for the specifics.

2. Apply your knowledge to the examples. Where I have provided examВэples, I urge you to apply what you have learned in order to make cerВэtain you understand it.

3. Take notes. I also urge you to take notes both in the margins of this text and on a separate notepad. The material will be easier for you to comprehend and retain if you take notes.

4. Take your learning to the markets. Once you have internalized the conВэcepts, please observe them under real market conditions to determine how well they work for you and if they are consistent with your needs as a trader.