• 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?

If an absolute beginner

If an absolute beginner an adequate understanding and scope of trading terminology and trading landscape will be lacking. To extract maximum benefit from any first book it may prove productive to first consult a basic introduction. Review Babypips School of Pipsology for suitabilty. -http://www.babypips.com/school.
 
I wouldn't consider anything having to do with Forex to be a proper introduction to the markets and to trading. Rather I suggest the following:

The Nature of Risk by Mamis
Why Smart People Make Big Money Mistakes by Belsky and Gilovich
The Wall Street Journal Guide to Understanding Money & Investing by Morris et al
 
dbphoenix said:
I wouldn't consider anything having to do with Forex to be a proper introduction to the markets and to trading. . .
Click to expand...
Here here!
(y)

I'd add that Phylo's post implies that forex is the only/best market to trade and that Babypips is the best place to learn how to do it. Newbies would do well to consider all available markets - not just forex - as it's a market with many downsides. Babypips won't tell you what these are as the site has a vested interest in promoting all things forex. If you want a balanced view, an absolute beginner would do far better by staying put right here on T2W.
Tim.
 
If I may...

It does not matter what you read..

If at the end you do not bring yourself forward and create a system which relates to your personality you will not make it .

Learning technique from others can be dangerous, they create convictions, concepts, especially if they give you initial positive results, than those concept are difficult to shake off, in doing so they might create further concepts.

I am not saying you should not learn from others, what I am saying is after you do, use it to find your own way, without it you will not excel in it.
 
Source for study

Hi,

Babypips.com is useful for the beginners. You can find the different techniques there. It gives you fine experience. It provides the basics of each technique. If you can't understand any technique as it is provided, you can go to youtube and you get lot of videos related to that.
 
hi! Someone in my Facebook group shared [link removed] ebooks with us so I came to give it a look. I'm definitely loving the information. I keep stressing: "Without proper money management you can lose money despite having a profitable trading strategy!"
 
dealing with the psychological side is arguably the primary side of trading where you can benefit from honest accounts of others experiences.

reminisces of a stock operator, pitbull, margin of safety and intelligent investor are my top four books, have read a few more but none to have left any real impression on me.

as far as trading goes, dont think any book can teach you anything beyond the basics you could learn for free just by browsing enough resources.

oh also market wizards, again because its interesting to try to pin down the commonalities between the psychological approaches of various successful traders.
 
Don't buy any books .Get the free stuff on internet youtube videos .


Google search will give you everything for free .

Listen to all the trading failures , who can't trade for a living , buy their kidney prufied water of these failures who can't trade for a living , these authors do not even know what real or successful trading is.You going to buy books from people who do not know how to trade successfully.

This is what I thought of a highly respected author.

http://www.trade2win.com/boards/trading-systems/217634-2-not-2-a-9.html#post2899512

Those who can, do; those who can't, teach or write books to teach.
Prov. People who are able to do something well can do that thing for a living, while people who are not able to do anything that well make a living by teaching or writing books about trading.

Buy psychology books and the best books according to most traders are psychology books.
 
I also would like to know about this book. I am totally new starter of trading business. Please guide me a little.
 
Agree with foroom some of the best stuff is free on forums, youtube and the internet.

Many years ago I purchased many books from guppy, tate, bedford etc. The only things that were remotely useful and stayed with me was money management. The rest is useless and will not make you a better trader.
 
Read all the best threads and articles here ,it will give you the same information as you get from books .In both cases Nobody can write the chemistry of great traders or successful traders , unless have done it themselves .In the gold rush ,more people made money selling picks ,shovels and maps/books than the speculators.The trading gold maps can't be sold by people who never got there , they can just guess where the gold is , who knows where the gold is and how to get it.The staff of t2w want to claim ,they know what makes a successful trader .

http://www.trade2win.com/boards/new...rture-good-traders-born-made.html#post1450220
 
foroom lluzers said:
. . .The staff of t2w want to claim ,they know what makes a successful trader .

http://www.trade2win.com/boards/new...rture-good-traders-born-made.html#post1450220
Click to expand...
Hi fl,
You appear to be labouring under a few misconceptions about T2W official forum content (OFC) and the role of staff in producing it. Please allow me to address them.

1. T2W Staff
T2W staff (of which I am one) do of course have their own opinions about trading and the markets. However, we do not use OFC threads as a vehicle to impose them on the membership. Moreover, we do not make any claims - let alone what makes a successful trader. Sometimes the views expressed in OFC coincide with our own - sometimes they don't.

2. T2W's Views
Ideas expressed (such as in the Nature Vs Nurture FAQ you've linked to) almost always represent a cross section of the most widely held - and generally accepted - views on the topic under discussion. They are most emphatically not some sort of official T2W view that we wish to impose on the membership. As a business, T2W has no view of any kind on any aspect of trading. Indeed, unlike some other forums, we have no agenda, other than to provide educational and thought provoking content to help better educate our members in their trading careers. This is the only purpose of the OFC.

3. OFC - Thought Provoking Content
All OFC threads are open so all members can contribute to them (just as you've done here), enabling them to discuss any of the points raised in the opening post(s). The point being that such posts and threads are intended as a starting point to facilitate each member's research into the particular topic under discussion. They are intended to provoke thought; they are not provided as definitive answers or meant to be prescriptive in any way.

4. OFC - Accuracy
Every possible effort is made to ensure that all OFC is accurate, balanced and unbiased. However, we recognize and accept that errors and omissions etc. may occur from time to time. We're only human after all! With this in mind, members are asked to bring anything they find to our attention so that the post(s) may be corrected and the high standard of OFC maintained. Specifically, if there is anything about the Nature Vs Nurture FAQ you wish to comment on - then please do so - but on that thread - not this one.

5. OFC - Corrections
T2W staff are not only willing - but are usually quick to respond to any errors or omissions etc. found in OFC and thank members for bringing them to our attention. T2W and its staff actively welcomes feedback on all OFC and what can be done to ensure it continues to be an invaluable resource for all our members.

I hope this clears up any misunderstanding about T2W OFC and the role of T2W staff in producing it. If anything is unclear - or if you have any further questions - I'll do my best to answer them.
Tim.
 
timsk said:
Hi fl,
You appear to be labouring under a few misconceptions about T2W official forum content (OFC) and the role of staff in producing it. Please allow me to address them.


Tim.
Click to expand...

I never stated T2W had any hidden agenda behind the article , except readers should examine the information from these articles and threads carefully , but there are some really good articles and threads , that readers do not need to buy books.There is superior stuff here , if you know what is quality , it will give you a head start in trading.

Most of what is in these books is already cloned over several generations and found it's way here , and free on the internet sites like this.I am not saying T2W clones author's works , just it is all public knowledge.


Some of this content is far better than the other forums.There are robust profitable strategies and ways of making money here , you won't find these in books , if only they knew which ones.We can take the traders to the water , we can't make them drink it.
 
foroom lluzers said:
I never stated T2W had any hidden agenda behind the article . . .
Click to expand...
:rolleyes:
True fl, you never stated that but, equally, I never said that you did.

My post was in direct response to what you did say which was (and I quote): "The staff of t2w want to claim ,they know what makes a successful trader ." This is quite wrong and, given the importance of this long standing and widely read FAQ, a comprehensive explanation to dispel this misconception was necessary.
Tim.
 
The modern authors are nowadays rewriting the freely available information ,that is freely available on sites like this.The trend has changed!

They write modern books and pretend "I am a professional trader ". It is easy for them to get money from foolish people from books , courses and seminars.
 
Last edited:
New traders really need to read books by top trading psychologists or read all their free stuff on the internet or on this site.

Dr Andrew Menaker phd
Mark Douglas
Rande Howe
Breet Steenbarger phd
Dr Van Tharp phd
Robert sapolsky on stress
Dr Woodruff has some good psychology articles here on t2w

Books

Trading in the zone
Disciplined trader


I find free youtube webinars by the psychologists as far more beneficial
 
foroom lluzers said:
New traders really need to read books by top trading psychologists or read all their free stuff on the internet or on this site.

Dr Andrew Menaker phd
Mark Douglas
Rande Howe
Breet Steenbarger phd
Dr Van Tharp phd
Robert sapolsky on stress
Dr Woodruff has some good psychology articles here on t2w

Books

Trading in the zone
Disciplined trader


I find free youtube webinars by the psychologists as far more beneficial
Click to expand...

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

People who are able to do something well can do that thing for a living, while people who are not able to do anything that well make a living by teaching or writing books about trading.

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