Which Books should a Beginner Read?

This is a discussion on Which Books should a Beginner Read? within the New to Trade2Win forums, part of the Reception category; Originally Posted by smokealarm i am also a new trader and i would love to know that books are really ...

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Old Jul 5, 2015, 9:16am   #105
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Originally Posted by smokealarm View Post
i am also a new trader and i would love to know that books are really helpful or not .... i think that real trading will help in gaining more experience and books are not that much effective
mixture of all is needed.............there are untold treasures locked in trading literature but you need to research/experiment/trade all the time
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Old Jul 6, 2015, 11:37pm   #106
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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.
I like this answer. I have come to believe that there is no substitute for observing the markets for hours upon days upon weeks upon years.

I get a lot out of not working that hard at it but simply catching some charts once a week for the past 5 years. it is the best way to understand long term trends.

I remember the top in gold. and watched it come down over a long time. this has been most valuable.

I also watch the stock market go up and that has been very valuable.

although I think it is also good to read books to pick up good ideas.
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Old Jul 6, 2015, 11:56pm   #107
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my first book was

Reminiscences of a Stock Operator.

I have been hooked ever since.
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Old Jul 7, 2015, 12:01am   #108
 
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Currently I am reading The Market Wizards, I will read the new Market Wizards after. I read a minimum of one of the 'Wizards'' interviews each day. The actual content does not tell you what to do to improve itself and lots of the traders contradict each other or 'The Rules of Trading'. However it gives a great insight into the mindset required to achieve great results. I also tend to read something I don't fully understand in it, which I then research in my own time, widening my base knowledge of trading.

All in all I think this is one of the best books to start out. It doesn't get technical, it doesn't hurt your brain, but it will make you think more about the lifestyle, the mentality,the highs and the lows. It can open doors to things you have never thought were possible in trading.

After hearing from these pro's I do have to say, I take advice on here with a slight pinch of salt now. Every trader is different, advice is always great and appreciated, but sometimes that advice may work for them and not for you.
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Old Jul 7, 2015, 12:38am   #109
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I love the Market Wizards. I have read all of them. awesome books.

but then I love reading this kind of stuff. the real life stuff of a trader.
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Old Jul 7, 2015, 12:44am   #110
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Originally Posted by pistol99 View Post
I started a couple of years ago with, "An Encylcopedia of Chart Patterns."

Looking back, it was terrible as a first choice. Still, I got up to speed pretty quickly.
I started with Edwards and Magee 5th edition back in 1968. a long time ago. I think it was a great start. although I had read Reminiscences back around 1955. I consider Edwards and Magee as my first real serious book on trading.
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Old Jul 7, 2015, 1:45am   #111
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Originally Posted by MarcusJohansson View Post
Hello.

Do you guys know about a good book about techincal analysis for forex trading?

Best regards
there should be nothing different about forex trading from any other kind of trading.
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Old Aug 9, 2015, 3:33pm   #112
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Originally Posted by Jingles View Post
there should be nothing different about forex trading from any other kind of trading.
Agreed. Although pairs from different markets have different behaviors, the patterns are the same for each market instrument.

Thomas Bulkowski - Encyclopedia Of Chart Patterns
Constance Brown - Technical Analysis for the Trading Professional
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