Here's my list of a few books i've read and can recommend (most already mentioned on this forum)
- Reminiscenes of a Stock Operator
- Market Wizards / New Market Wizards - Jack Schwager
- Technical Analysis of the Financial Markets - J Murphy
- Stocks for the Long run - Jeremy Seigel
- Reminiscenes of a Stock Operator
- Market Wizards / New Market Wizards - Jack Schwager
- Technical Analysis of the Financial Markets - J Murphy
- Stocks for the Long run - Jeremy Seigel
timsk
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Hi CHINNI2A,
Welcome to T2W.
Funnily enough, in its 10 year history, this question has cropped up before on T2W!
Check out the the Trading FAQs forum - there's a very comprehensive thread devoted to this particular FAQ in there.
Enjoy!
Tim.
Patricia12
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Go through to link : 101forexebook here you will get number of books on different trading subject like basic, advance strategy etc.
TheBramble
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The Market Matrix. I have a copy I'd be willing to part with for offers in excess of £666. In fact, I have several electronic copies; each of which I'd be happy to part with for £666. But they're disappearing fast and can't be replaced, ever. So it's first come, first served. When they're gone, they're gone. 24-hour only offer. Free 5-piece kitchen knife set (normal retail price £29.99) thrown in. Gently.
I'm glad I don't depend on exciting trading opportunities in Spot FX during my trading day to keep me energised.
I'm glad I don't depend on exciting trading opportunities in Spot FX during my trading day to keep me energised.
the hare
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I can heartily reccommend t2w's own book available for only $19.95 from the following URL
Trading FAQs
Trading FAQs
TheBramble
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...stealth vendor..watch out.....
Joules MM1
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rather than offering a book and to assist in looking for the 'right' text, consider this;
to know if you actually gleened something from a book, write down on a chart where/when actions that you implemented were direct result of the book or your conclusion(s) of the ideas in the book....
there are two main reasons for this;
most people read a book yet can't quantify what they actually came away with to action.....sometimes that's because they didnt make their own notes in their own language or adapted the idea(s) into their own techniques
most people take some round-aboutish sense of an idea and dont diarise the effectiveness of the conclusions or insights (to make the actions concise) they get so the ideas simply drift away from them as a soon as they are challenged on the extent of their understanding while theyre in a live trade, that is, they have no concise mechanic, rather, an understanding without application, so, without applying in a specific rule or strong guideline the understanding gets lost in the noise of trading
"i read a book, it took a real person to teach me how to trade"
i think that sentence above is true for the bulk of traders
.....often, books have ideas that carry nuances the author can't convey because the author is not in the present in the trade your looking at......while that sounds completely obvious it is an ingredient most traders forget.....i suspect
julian
to know if you actually gleened something from a book, write down on a chart where/when actions that you implemented were direct result of the book or your conclusion(s) of the ideas in the book....
there are two main reasons for this;
most people read a book yet can't quantify what they actually came away with to action.....sometimes that's because they didnt make their own notes in their own language or adapted the idea(s) into their own techniques
most people take some round-aboutish sense of an idea and dont diarise the effectiveness of the conclusions or insights (to make the actions concise) they get so the ideas simply drift away from them as a soon as they are challenged on the extent of their understanding while theyre in a live trade, that is, they have no concise mechanic, rather, an understanding without application, so, without applying in a specific rule or strong guideline the understanding gets lost in the noise of trading
"i read a book, it took a real person to teach me how to trade"
i think that sentence above is true for the bulk of traders
.....often, books have ideas that carry nuances the author can't convey because the author is not in the present in the trade your looking at......while that sounds completely obvious it is an ingredient most traders forget.....i suspect
julian
The only trading books you need as a newbie should be focused around Psychology and how to write a trading plan. Everything else grows from these two areas naturally. The Wizard books you must read continually, never stop. I guarantee you if you do this you will move towards making it. If you dont you will fail and run out of money and possibly commitment before you turn the corner. oh and PS avoid day trading and or scalping. In my book they simply dont work and are not optimal methods for newbies.
Joules MM1
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as a counter point, the above is incorrect and ill-focused.......Wizard books are not psychology books, thus, the post is contradictory .....secondly, how to write a trading plan is not the same as writing a trading plan......thirdly dismissing any form or trading without first having a written plan ensures restriction of facets that need to be understood or that can allow for full exploration of price and give risk/reward clarity.......
the Wizard books are fine for fireside reading, they are not in any direct instrumental form a precise way to target gains or to protect capital when in a transaction........if any of this post seems pedantic to you, then, think on this; you enter a trade and it moves just 1c away from you in the wrong direction, would you call that pedantic? no!
Find a plan that someone has already implemented, you'll eventually modify it to suit yourself.....during that time you'll naturally fall into the psychology side even if its just to satisfy your curiousity........another thing, while i agree a newbie is a long way from taking on day trading transactions until theyve proven they understand when and where to do business, it must also be true that to "stay away" is to encourage ignorance, afterall, how is a risk/reward profile any different from an inside trade to a 6 month trade (costs aside, of course)?
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"the above is incorrect and ill-focused.?" I have read your amusing little retort...& let me say ! No it is not, it is absolutely right and youre being pendantic expecting this paragraph to define precisely how to trade that would be nonsensical.
1.I have NOT claimed WIZARD books as Psychological. That is your interpretation of what I have said. READ AGAIN
2. Your pedantic stupidity continues.. You are now trying to drill down generalities about where focus should lie to specifics regarding the difference between Trading plan planning and Trading Plan construction. Are you some kind of clown? This is a broad Brush for the uninitiated, looking for some FRAMEWORK to begin their journey and you have waded in as if you know beter.. YOU DO NOT, I can tell where youre at by the way you frame these issues and it isnt that close to where you need to be.
3. "thirdly dismissing any form or trading without first having a written plan ensures restriction of facets that need to be understood "?? WTF! Are you smoking drugs? You are trying to now justify to me that writing a trading plan is going to restrict a Trader from uncovering nuances about the market? This is hilarious stuff. No really.
4. The wizard books provide insight and allow methodology modelling. All Trading is personal. Newbies need to begin this journey with scope of what methods are possible. The Wizard books allow some modelling to take place.. Far from them being "fireside reading" they are treasure troves of approaches. To categorise them as fireside reading only serves to highlight your own myopia in the value that can be extracted from them.
5. Yes the post is pedantic its . If I enter a trade and it moves 1c away from me, I am NOT concerned!
6. You then go on to say FIND A PLAN and modify it yourself. WELL DUH!! Thats what I suggested isnt it?
7. Then you say you will naturally fall into the Psychology side? NO YOU WILL NOT AUTOMATICALLY DO THIS IN A TIMELY FASHION! That is why I placed Psychology at the very TOP of the PILE. What is wrong with you? Have you been drinking?
5. Now to "stay away" from a type of trading as a newbie is encouraging ignorance? You are the REASON many Traders FAIL.. your take on what it needed to trade is poorly conceived, and to me you sound like a trader who is going to blow his account once more. Youre nearly there, but your not there yet.
Please next time you come to criticise me again realise youre speaking to someone who is preparing broking business plans and has been trading for 8 years. My original statement ABSOLUTELY STANDS as a very first pass to passing traders looking for some pointers.
Psycology Psycology Psycology!! FIRST
Issues around business/ Trade plan construction Second
Everything else will naturally develop and you will do extremely well with this approach whilst always reading the wizard books. Stay away from Scalping (its a bad way for newbies to learn, it creates the worst trading habits and prevents Traders increasing thier trading Efficiency).
Read the Wizard books over and iver and over untill you accpt the journey is your own and the approaches you like in the books can be modelled to accelerate your progress.
IGNORE OTHER BEGGINER APROACHES by those more interested IN YOUR MONEY than your success.. (LIKE MOST SPREADBETTING FIRMS. Newbies SHOULDNT USE SPREADBETTING FIRMS , THEY MAKE MONEY FROM YOUR LOSSES AND ARE NOT BEST SERVED TO HELP YOU, MANY DONT EVEN GIVE YOU VOLUME DATA TO TRADE OFF, THEY ARE SOPHISTICATED TOOLS FOR ADVANCED TRADERS NOT NEWBIE TOOLS).
1.I have NOT claimed WIZARD books as Psychological. That is your interpretation of what I have said. READ AGAIN
2. Your pedantic stupidity continues.. You are now trying to drill down generalities about where focus should lie to specifics regarding the difference between Trading plan planning and Trading Plan construction. Are you some kind of clown? This is a broad Brush for the uninitiated, looking for some FRAMEWORK to begin their journey and you have waded in as if you know beter.. YOU DO NOT, I can tell where youre at by the way you frame these issues and it isnt that close to where you need to be.
3. "thirdly dismissing any form or trading without first having a written plan ensures restriction of facets that need to be understood "?? WTF! Are you smoking drugs? You are trying to now justify to me that writing a trading plan is going to restrict a Trader from uncovering nuances about the market? This is hilarious stuff. No really.
4. The wizard books provide insight and allow methodology modelling. All Trading is personal. Newbies need to begin this journey with scope of what methods are possible. The Wizard books allow some modelling to take place.. Far from them being "fireside reading" they are treasure troves of approaches. To categorise them as fireside reading only serves to highlight your own myopia in the value that can be extracted from them.
5. Yes the post is pedantic its . If I enter a trade and it moves 1c away from me, I am NOT concerned!
6. You then go on to say FIND A PLAN and modify it yourself. WELL DUH!! Thats what I suggested isnt it?
7. Then you say you will naturally fall into the Psychology side? NO YOU WILL NOT AUTOMATICALLY DO THIS IN A TIMELY FASHION! That is why I placed Psychology at the very TOP of the PILE. What is wrong with you? Have you been drinking?
5. Now to "stay away" from a type of trading as a newbie is encouraging ignorance? You are the REASON many Traders FAIL.. your take on what it needed to trade is poorly conceived, and to me you sound like a trader who is going to blow his account once more. Youre nearly there, but your not there yet.
Please next time you come to criticise me again realise youre speaking to someone who is preparing broking business plans and has been trading for 8 years. My original statement ABSOLUTELY STANDS as a very first pass to passing traders looking for some pointers.
Psycology Psycology Psycology!! FIRST
Issues around business/ Trade plan construction Second
Everything else will naturally develop and you will do extremely well with this approach whilst always reading the wizard books. Stay away from Scalping (its a bad way for newbies to learn, it creates the worst trading habits and prevents Traders increasing thier trading Efficiency).
Read the Wizard books over and iver and over untill you accpt the journey is your own and the approaches you like in the books can be modelled to accelerate your progress.
IGNORE OTHER BEGGINER APROACHES by those more interested IN YOUR MONEY than your success.. (LIKE MOST SPREADBETTING FIRMS. Newbies SHOULDNT USE SPREADBETTING FIRMS , THEY MAKE MONEY FROM YOUR LOSSES AND ARE NOT BEST SERVED TO HELP YOU, MANY DONT EVEN GIVE YOU VOLUME DATA TO TRADE OFF, THEY ARE SOPHISTICATED TOOLS FOR ADVANCED TRADERS NOT NEWBIE TOOLS).
Joules MM1
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excellent effort.......oh, by the broad-brush-stroke way.....that's psychology with an 'h'
again, ill focused
oh, yeah, there's a truck load of traders who've made set trading plans by reading the market wizards books, no doubt theyre alll looking at screens and reeling in the big fish right now as you read this.......
good luck.....remember, these are just words on a screen, thus, your reaction to them says a lot about your.....erm........psychology :idea:
torro torro!
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My spelling is the least of your worries my friend, after the self justification in that indignant reply. You dont fool me for a second, about your challenges.
Joules MM1
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quite right, what does worry me is that you are such a poor listener you'll now go persist with your diatribe and effect people with even lesser knowledge than what you have......that is the reason i remarked on your first post in this thread.....
a great deal of effort has been put into discouraging the rampant belief, the sheer stupidity that a newbie can open a book and start trading with flimsiest pretext of trading outlook and you have made strong inroads into confirming that that stupidity is ok.......
no doubt you'll want to have the last word on this subject, because, afterall, that's what youre really here for....
no one can fool you, that's true, youre too smart, just too smart......oh well.....
Please refer to messages sent prior for answers. Youre going to need it.
