If you are looking to trade ASX pennies/mid caps, you are better of reading the simple books of the likes of Guppy, Menai, Luise etc than Elder, Livermore. ASX provide cycles as good as any and patterns are sector and season specific. Local books are good to get basics on them and your experience practicing them with paper trading will help you set up winning formulas.
However, trading and investing for 10,20% pa returns on big capital outlays is different and badly generalized in this thread. Big hard cover books will help you in that but will confuse you to hell in pennies as can be seen in posts by Katoom etc.
