• New to T2W? Welcome! This forum contains a list of the most frequently asked questions (FAQs) that new members want answers to. We don't allow new threads to be created so if you have an idea for a new FAQ please post it in the How the FAQs work thread.

FAQ Which Books should a Beginner Read?

malaguti said:
http://www.trade2win.com/boards/new-trade2win/30637-books-should-beginner-read-22.html#post2902284


why then would anybody read a book if that psychologist couldn't make a living in the psychology of trading.
Click to expand...


Psychologists tried trading , they lost , they learnt why they failed .So they give it to you why they failed for $800 .It is cheaper than losing $5m.If you are clever you will pay $800 and save $4.9m

because no human has the memory to be a successful liar , a liar needs a thousand lies to cover the first lie.A psycho needs to omit the info of why he failed , some need to omit a thousand truths.

Every MF psycho wants your money , but they will throw a few nuggets of gold at you.When 7 pychos throw a few nuggets each , trader will become wealthier in knowledge.The knowledge the individual psychos did not want to give for free.

Every liar tries to hide the truth every psycho is cleverer than you and every sales man wants to selll his advantages(he hides his disadvantages, effectively lies).

Listen to these sales men who have a magic holy grail , but they will improve yur knowledge.

Every time a trader loses money he feels sick , every time you are sick you visit a doctor , every time they visit a psycho they give knowledge of why they failed.

Get that knowledge, knowledge is wisdom.

If your anti failure srategy is great , you will not fail , you will build up a defensive strategy , you will not LOSE .
 
foroom lluzers said:
Psychologists tried trading , they lost , they learnt why they failed .So they give it to you why they failed for $800 .It is cheaper than losing $5m.If you are clever you will pay $800 and save $4.9m

because no human has the memory to be a successful liar , a liar needs a thousand lies to cover the first lie.A psycho needs to omit the info of why he failed , some need to omit a thousand truths.

Every MF psycho wants your money , but they will throw a few nuggets of gold at you.When 7 pychos throw a few nuggets each , trader will become wealthier in knowledge.The knowledge the individual psychos did not want to give for free.

Every liar tries to hide the truth every psycho is cleverer than you and every sales man wants to selll his advantages(he hides his disadvantages, effectively lies).

Listen to these sales men who have a magic holy grail , but they will improve yur knowledge.

Every time a trader loses money he feels sick , every time you are sick you visit a doctor , every time they visit a psycho they give knowledge of why they failed.

Get that knowledge, knowledge is wisdom.

If your anti failure srategy is great , you will not fail , you will build up a defensive strategy , you will not LOSE .
Click to expand...

thank you, however you still fail to explain why you are contradicting yourself
 
malaguti said:
thank you, however you still fail to explain why you are contradicting yourself
Click to expand...

Technical authors and mentors write books and sell their holy grail in courses etc, they pretend to be traders or highly succesful traders , ,psychologists talk about why most gurus fail to walk the walk , it is for psychological reasons.

The psychologists will offer you a solution through their books and courses , this can only give you knowledge about why traders fail.They offer their holy grails to make you successful.Some psychologists claim to make you a super trader , Dr Van Tharp has been evasive about all the psychology ,in his first book ,Trade your way to financial freedom.

None of them will tell you , the way we are born with our ancestral brain, traders are born "wired to lose in the market".This would deter all new business for technical mentors and psychologists.None of them can offer the solution to rewire your brain , it is the sames as it was thousands of years ago.

The only solution to be successfull is to trade "set and forget" strategies.These reduce your "wired to lose " handicaps.It can be done on lower times , very similiarly to Warren Buffet thinking/investing.

If you listen to trading and non-trading psychologists , you will learn about the human brain in trading.I have read many non trading psychology books and heard hundreds of lectures.

People like me are not liked by vendors.
 
foroom lluzers said:
Technical authors and mentors write books and sell their holy grail in courses etc, they pretend to be traders or highly succesful traders , ,psychologists talk about why most gurus fail to walk the walk , it is for psychological reasons.

The psychologists will offer you a solution through their books and courses , this can only give you knowledge about why traders fail.They offer their holy grails to make you successful.Some psychologists claim to make you a super trader , Dr Van Tharp has been evasive about all the psychology ,in his first book ,Trade your way to financial freedom.

None of them will tell you , the way we are born with our ancestral brain, traders are born "wired to lose in the market".This would deter all new business for technical mentors and psychologists.None of them can offer the solution to rewire your brain , it is the sames as it was thousands of years ago.

The only solution to be successfull is to trade "set and forget" strategies.These reduce your "wired to lose " handicaps.It can be done on lower times , very similiarly to Warren Buffet thinking/investing.

If you listen to trading and non-trading psychologists , you will learn about the human brain in trading.I have read many non trading psychology books and heard hundreds of lectures.

People like me are not liked by vendors.
Click to expand...

OK I get, it. If its a trader selling a book about trading, he can't trade and he is a snake oil salesman
whereas, if a psychologist is writing a book about trading he/she is doing the world a favour by imparting his knowledge on the subject
what a warped sense of the world you have:rolleyes:
 
malaguti said:
OK I get, it. If its a trader selling a book about trading, he can't trade and he is a snake oil salesman
whereas, if a psychologist is writing a book about trading he/she is doing the world a favour by imparting his knowledge on the subject
what a warped sense of the world you have:rolleyes:
Click to expand...

Both are salesmen and sometimes psychologists sell seminars with trend trading educators , just to encourage they have the solution to Richard Dennis's losses of Trend trading , and they have magic solution for it.

Psychologist is writing a book on psychology , and why this other accomplice can not walk the walk.

They will show hindsight results trends , but they can not show any real trades over a consistent period of time.They make money one day of the week in trending conditions , then lose it over the next 4 days of ranging conditions.They both selling hindsight trend illusions and psychology courses combined.
 
Last edited:
timsk said:
I've done some fairly heavy duty housekeeping to this thread, so if your contribution is no longer here it will be because your recommendation(s) is already listed in post #1 or post #2. Occasionally, I've let a duplicated recommendation stand if it's part of a group of books (e.g. by the same author) or, more likely, if the poster says what they like about the book(s).

If you're thinking of contributing to the thread - and please do - only list books that are NOT yet featured in posts 1 and 2. If you can't resist adding your voice of support to existing recommendations and you want your post to stand, please add insightful, instructive and helpful comments about what you liked about the book(s)! Better still, head on over to Book Reviews and post your thoughts there!

For more info' about why posts to the FAQ threads are edited or deleted - check out the How the FAQ Forum Works Sticky.
Thanks,
timsk.
Click to expand...

Anyway you can make a new bot called "The simple concise trading skills /information required for profitable trading"?

I know these articles are good , with good intent , all this information would be too much to process , in fact it would overload traders with information processing .My study on the human mind would tell me humans are not good at processing information .

The trading industry has provided several thousand books (road maps to the gold /money in the markets ), but no clear profitable road map to getting rich.This is overload of information.:)
 
foroom lluzers said:
Anyway you can make a new bot called "The simple concise trading skills /information required for profitable trading"? . . .
Click to expand...
Hi fl,
I'm unsure how to respond to your post as it appears to be a non sequitur that bears very little connection either to the post of mine you've quoted or to the thread as a whole. If your point is that traders - especially newbies - suffer from information overload, then this is well known and is a common complaint.

The primary objective of the official forum content on T2W (i.e. Stickies and FAQs etc.) is to address this very problem by whittling down the central issues to bite sized chunks that provide a solid foundation upon which members can build their trading knowledge and skills. In the case of this specific FAQ, the books listed here are the ones that members regularly site as being the most interesting and helpful. If you know of a publication that offers a "clear and profitable road map to getting rich" - then by all means list it and provide a link.
Tim.
 
foroom lluzers said:
are you still using your hindsight technical anylysis by Pring?
Click to expand...

as opposed to what...foresight fundamentals? thats "market timing" too. fundies don't drive the market, EXPECTATION does

have you ever heard..buy the rumor sell the news :LOL:

EVERY trade IS market timing
 
Thanks for sharing such a valuable links here, it would be quite helpful for the newbies and expert traders also. Keep sharing,
 
First off I just want to say what an interesting thread this is; it is fascinating to hear other people’s feelings, opinions and reasons.

I have already put some of the suggestions made by others in my must read list; I honestly feel we, as traders, can always benefit from learning more and we need to keep an open mind on these things.

Ultimately, and this will be difficult for some to hear, the answer will depend on the person asking the question. This question reminds me of traders who are looking for the holy grail of trading systems. There is no absolutely correct answer to such an open question. The answer will always depend on the answers to a variety of questions such as what markets you trade, the time frame you’re trading in, your personality, how much time you have and can devote to the market etc.

The best answer, for my style of trading, is the book Trade like a Stock Market Wizard by Mark Minervini. He is one of the traders interviewed by Jack Schwager for Stock Market Wizards and his style of trading suits my personality and situation best. But this book would almost useless for a Forex day trader but the book suits me which is ultimately the most important thing.

I also want to say that books should not be a replacement for thinking… a terrible and dangerous idea. Books should be used as an aid to encourage and enhance your own thinking and help you do so more clearly. They are not an answer in and of themselves but are a valuable resource!

Good luck with your trading everyone.
 
You must log in or register to reply here.

Similar threads

A
Which Elder book should I buy?
2
Replies
20
Views
5K
HowardCohodas
HowardCohodas
D
Books for daytraders
Replies
6
Views
4K
loyzhiyang
L
L
Which books......
Replies
5
Views
2K
laserblues2
L
rodolfo49
What books do professional traders read?
2
Replies
27
Views
12K
15 min tlb
1
J
Good basic trading book to read before Tibra interview?
Replies
0
Views
2K
jonny87
J
Top