This is a discussion on Reading. within the First Steps forums, part of the Reception category; Hello im new to trading and Id like to read and learn as much as I can about spread betting. ...

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Old Jan 13, 2004, 9:29pm   #1
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Joined Jan 2004

Hello im new to trading and Id like to read and learn as much as I can about spread betting. I would appreciate it if anyone could advise me on what books would be the best starting point to increase my understanding.

Thanks a lot.

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Old Jan 13, 2004, 10:02pm   #2
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Joined Jan 2004
There are many good books on trading.

My personal favourites (on the general & common aspects of
trading) are:

1.Reminiscences of a Stock operator (Edwin Lefevre)
2.Market Wizards (Jack Schwager)
3.New Market Wizards (Jack Schwager)
4.Trade your Way to Financial Freedom (Dr Van Tharp)
5.The Disciplined Trader (Mark Douglas)

You can read reviews on all the above on amazon and i think
some of the above are availble in T2W book store at very
good prices.

Then you will want to consider which time horizon suits you
and buy books specific to that, so you plan to day trade buy
some books specific to daytrading, or if you fancy trading options
ask for some recommendations in that area..

Oh, and stay away from any books or scheme or seminar that
claims will turn you into an instant trader making £10,000+
in a week, sadly this industry is full of charlatans and con men.
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Old Jan 13, 2004, 10:52pm   #3
Joined Sep 2003
In addition to those listed there's also John J Murphy's
' Technical Analysis of the Financial Market's ' and maybe
Steve Nison's ' Japanese Candlestick Charting Techniques'
Also don't overlook the posts on this site.
There are some real gems hidden away and you may find that it's worth many hours of sitting in front of your PC and a few reams of paper and loads of printer ink downloading stuff from here .
I found this site a few months ago and i reckon I've spent at least 2 hours a day here ever since.
I suspect that when I look back in the future I won't regret it!
Good luck,
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Old Jan 14, 2004, 11:10am   #4
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Joined Jan 2004
bigtrade started this thread Thanks guys I think those should get me off to a good start.

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Old Jan 14, 2004, 12:07pm   #5
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Joined Oct 2003
Hi Bigtrade,

I agree with hampy, John Murphy explains almost everything to do with TA. Definatly the first book to buy even though the most expensive.

If you are a complete newbie make sure the books you buy are suitable for your level, Reading Trading for a Living and Come into my trading Room by Dr Alexandra Elder has also helped me in my trading 10 fold but like a lot of books you do need to know basic T/A first.

Mr Squad
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Old Jan 14, 2004, 12:24pm   #6
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Joined Nov 2002
People also recommed Jilers work

Hampy is correct..there are many gems on this site that you only find in specialist or rare trading works not in general circulation pays to use the search facility

Happy Searching

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Old Jan 14, 2004, 3:13pm   #7
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I think depsite it's title van Tharps book is an excellent read for the begginer. I almost didn't but it when I first saw it because it sounded so corny!!!
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Old Jan 14, 2004, 9:51pm   #8
Joined Sep 2003
If you are going to buy some books there are good discounts available on the home page of this site
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Old Jan 14, 2004, 10:57pm   #9
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Joined Sep 2003

As donaldduke has said there are many good books on trading. There are some stinkers as well (although perhaps that's a touch harsh since just because a book doesn't suit your personality doesn't mean it's a bad one).

If it's really spread betting in general that you want to start by learning about then a trip to the various spread betting sites would be a good start. They all provide a certain amount of information but (imho) Financial Spreads is the best place to start simply because they are very helpful and enrol you in a "trading academy" for your first eight weeks. During this time they will send you out information/training sheets and you are allowed to bet with 1p stakes. They also run free seminars, although I couldn't vouch for the quality of those.

By the way, I wouldn't necessarilly recommend Finanacial Spreads for anybody but the beginner. There are tighter spreads and better user interfaces. But, they do a job of providing a basic introduction.

Purely on spreadbetting "Spread Betting To Win" by Jacques Black is as good a basic book as any as it's under a tenner and easily acquired from the high street.

If it's trading or TA in general you want to learn more about then there are countless free sites out there as well as this one. However, I have always found being able to get away from the computer with a book is a much better way of relaxing and learning at the same time.

You can't go far wrong with the Murphy book although I prefer Technical Analysis Explained by Martin Pring.

The Market Wizards books get mentioned by everybody as essential reading. Whilst they are undeniably good reads I prefer Conversations With Top Traders by Kevin Marder and Marc Dupee since it actually discusses some of the trading strategies of top guys in more detail. Market Wizards tends to gloss over a lot of the finer detail for various reasons.

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Old Jan 14, 2004, 11:10pm   #10
Joined Oct 2001

There are quite a few audio interviews with traders etc. that are well worth listening to on the following site:

You have to register but it's free to do so.

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Old Jan 15, 2004, 5:24pm   #11
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look at the "book swap anyone?" thread marc100 want to sell some books, good stuff too!

Mr Squad
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