buying books

This is a discussion on buying books within the General Trading Chat forums, part of the Reception category; Most of these stupid books will tell readers " support is the last low and resistance is the last high ...

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Old Oct 28, 2009, 10:49am   #29
Joined Mar 2007
oildaytrader started this thread Most of these stupid books will tell readers " support is the last low and resistance is the last high "

Unfortunately that is not correct.These previous lows and highs are formed as a result of low liquidity , greed,fear.volatility responses , noise,random markets,newsreleases and other factors.

The writers of books are not real traders , but they make good money from writing and selling this illusion to poor victims of the 95% club.
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Old Oct 28, 2009, 10:52am   #30
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oildaytrader started this thread
Quote:
Originally Posted by Pat494 View Post
Don't know how many birds on a currency branch

So how many ?????????????
Wouldn't know , I am not an Irishman.

Most forex branches have books and traders.
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Old Oct 28, 2009, 12:45pm   #31
 
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Originally Posted by oildaytrader View Post
Hi

I have bought 30 books on trading over the last 10 years.The information I got from these books is no better than information freely available on the net.Unfortunately books are written by people who make a living from writing books, they do not make a living from trading.

95% traders lose and these authors are 95% of the club

None of the thirty books clearly explains the way to profitability.They write theories on how to make money, if only these authors knew how to , they do not know how to make money from trading.Their theories do not work.

What is your view?

My favourite and most useful book is "Trading currency cross rates "

Most of the other books were written by useless traders , and I learnt nothing from them.
You are right dude..
In present scenario net is the best source to get information about anything....
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Old Oct 28, 2009, 1:14pm   #32
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oildaytrader started this thread
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Originally Posted by jhnsmith978 View Post
You are right dude..
In present scenario net is the best source to get information about anything....
Just key in the key words on dearch engine and it is all free.

Keywords.Candlestick ,chart patterns, support and resistance trading etc etc etc

All these murphy's are liars

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Old Oct 28, 2009, 1:43pm   #33
 
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What was that 70s song - it went sort of -

Don't trust the man who spreads the burning sand with water, cool clear water

might have been talking about trading or maybe a fore-warning of that phoenix Tony B liar ?
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Failure is not an option
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Old Oct 28, 2009, 1:58pm   #34
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i haven't properly traded with real money yet but the fact is that nothing out of a book has helped me. sure they can give you rules and methods which make you money in the mean time, but don't markets change? what happens if something stops working? fine for the guy who made the rules, maybe he created them from a deep understanding of markets and so he can adapt, but for the sheep they can't figure out how to adapt because they haven't learnt anything from real experience but just from a book and so they don't understand how markets work and can't create rules from their own observations
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Old Oct 28, 2009, 2:28pm   #35
 
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Originally Posted by TAjammy View Post
what happens if something stops working? fine for the guy who made the rules, maybe he created them from a deep understanding of markets and so he can adapt, but for the sheep they can't figure out how to adapt because they haven't learnt anything from real experience but just from a book and so they don't understand how markets work and can't create rules from their own observations
The sheep will need to buy another book, or course, or system, or room subscription or better still stop being sheep
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