Which Books should a Beginner Read?

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Old Mar 19, 2015, 6:11am   #89
 
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Hi, Trading in the Zone by Mark Douglas is an excellent read, but if you are more a visual type person there are many free forex training tutorials on YouTube or any of the other video-sharing websites.
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Old Mar 19, 2015, 9:27am   #90
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I assume most who will read this thread are looking for educational trading books!

If you are a knew or struggling trader I would start with something basic so that you properly understand how the markets work, what drives them and how to trade. There is plenty of information out there so to be honest a book is not necessary but for sake of this thread something like Abe Confas forex book is good which I have read.

Because trading is so practical you are better off spending your time actually trading and making as much notes as possible. Review your notes and you will soon understand what you need to focus on eg. Strategy, psychology, money management.

If you can follow your trade plan with discipline and can manage your emotions but still not getting results, it is likely you will need to refine your strategy so look for a specific book on strategies.

If you struggle to follow your plan because of ill discipline or not being able to control your emotions get a book on trading psychology.

If you think all that is missing is being able to mange a trade effectively then look at buying a book on money management.

What I am trying to get across is that most traders believe that the more they read the more chance they think they have in becoming profitable. Reading a book will not make you successful. Knowing your flaws which 95% of people have, understanding how to correct them, then applying a new approach is what can make a trader consistently profitable! A book can help with this process but application is key!
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Old Mar 19, 2015, 5:21pm   #91
 
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There are only two books that I would highly recommend to anyone:

How To Trade Stocks - Jesse Livermore
Market Wizards - Interview with Top Traders - Jack Schwager

Read the above and take good notes.

Anything regarding Price Action Theory should be looked at - you can get it all free online is also good.
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Old Mar 19, 2015, 8:19pm   #92
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thanks for the info... i am looking forward twards these books
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Old Mar 20, 2015, 7:44am   #93
 
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Quote:
Originally Posted by smokealarm View Post
thanks for the info... i am looking forward twards these books
If you need any help at all, feel free to get in touch
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Old Mar 23, 2015, 9:13am   #94
 
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Quote:
Originally Posted by wasp View Post
Never read a trading book in my life.

Spent more hours watching price action than anything else in life though... Nothing beats experience IMO.
Yes experience is more important. But i m sure u need to know basics before
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Old Mar 23, 2015, 12:43pm   #95
 
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Thanks!. Very useful liks for me!
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Old May 19, 2015, 7:49am   #96
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I recommend these:

Trading Systems by Emilio Tomasini
Forex Chartist Companion: A Visual Approach to Technical Analysis by Archer Bickford
An Introduction to Forex Trading - A Guide for Beginners by Matthew Driver
Market Risk Analysis: Pricing, Hedging and Trading Financial Instruments: v. 3 by Carol Alexander
Forex Price Action Scalping: an in-depth look into the field of professional scalping by Bob Volman
Attacking Currency Trends: How to Anticipate and Trade Big Moves in the Forex Market by Greg Michalowski
The Market Maker's Edge: A Wall Street Insider Reveals How to: Time Entry and Exit Points for Minimum Risk, Maximum Profit; Combine Fundamental and ... Trading Tactics from a Wall Street Insider by Josh Lukeman
Stop Orders by Tony Loton
Spread Betting the Forex Markets: An Expert Guide to Spread Betting the Foreign Exchange Markets by David Jones
apanese Candlestick Charting Techniques: a Contemporary Guide to the Ancient Investment Techniques of the Far East Hardcover by Nison
The Financial Times Guide to Investing: The Definitive Companion to Investment and the Financial Markets by Glen Arnold
Come into My Trading Room: A Complete Guide to Trading by Alexander Elde
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