Beginner- recommend book?

[amb]

Hi everyone!

I am quite interested in trading and would like to start, but with no prior knowledge I do not know where to begin. Could anybody recommend me a book to read that would give me the knowledge to trade? I have looked on Amazon.co.uk and have found a lot, but do not know which one to purchase.

What book would you recommend?

Thanks

 

[Combo]

Many excellent books, depends on what your plans and goals are, e.g. short term forex trades, or long-term equity investments, commodities, etc.

I trade equities (mostly AIM and TSX stocks) and recommend Peter Lynch's 'One up on Wall Street'. For more depth, Graham's "The Intelligent Investor" is a classic and highly regarded. Fisher's 'Common Stocks and Uncommon Profits' is also highly regarded and endorsed by Warren Buffet.

Market Wizards has some great insights into the approach of successful traders.

List goes on and on but there's enough there to keep you busy for a while! There is also a list here, slightly dated (2006) but includes many excellent books (and the comments include some more recent books too). The Best Investing Books Of All Time - Seeking Alpha

 

[NVP]

Market Wizards is a good generic read but it wont teach you to trade ......

no one book will....

Trading in the Zone is good as well....

N

 

[FringFX]

Could anybody recommend me a book to read that would give me the knowledge to trade?

knowledge to trade basically comes from thousands of hours of chart time. spend more time with charts

 

[amb]

Many excellent books, depends on what your plans and goals are, e.g. short term forex trades, or long-term equity investments, commodities, etc.

I trade equities (mostly AIM and TSX stocks) and recommend Peter Lynch's 'One up on Wall Street'. For more depth, Graham's "The Intelligent Investor" is a classic and highly regarded. Fisher's 'Common Stocks and Uncommon Profits' is also highly regarded and endorsed by Warren Buffet.

Market Wizards has some great insights into the approach of successful traders.

List goes on and on but there's enough there to keep you busy for a while! There is also a list here, slightly dated (2006) but includes many excellent books (and the comments include some more recent books too). The Best Investing Books Of All Time - Seeking Alpha

I wanted to trade equities on the London Stock Exchange

 

[timsk]

Hi amb.
Welcome to T2W.

When you joined, you should have received an e-mail with a link to the Trading FAQs forum? Most starter questions are covered - includsing this one: Which Books should a Beginner Read?
Enjoy!
Tim.

 

[ForexLion]

Reading Books alone may not be sufficient, you need what I would call 'Behavior modification' It has to do with psychology

 

[malaguti]

John J Murphy technical analysis of financial markets.
I stupidly did a "traders university" what a pile of rubbish and everything was in this book. Had I known, would have saved me a couple of grand..

 

[avtardhillon]

for beginners i would recommend 'day trading for dummies book'

 

[forever_young]

for beginners i would recommend 'day trading for dummies book'

oh really? is there in the series the one about the trading? I love '... for dummies book'. they are well organized and easier to understand.

 

[SavantK]

How to get rich for dummies

 

[neil]

I understand you have to start somewhere, but i wouldn't give too much credit to any book. My question about who writes fx books is always the same: what was the saying about who teach?

So many posts in one day ! Are you building up the number of posts to launch a spam attempt on T2W?
So many of you guys posting lots of pointless, non educational, drivel in order to build up post count.

 

[djrivum]

Encyclopedia of Chart Patterns, by Thomas N. Bulkowski was recommended to me, ive found that useful

 

[Shakone]

Hi everyone!

I am quite interested in trading and would like to start, but with no prior knowledge I do not know where to begin. Could anybody recommend me a book to read that would give me the knowledge to trade? I have looked on Amazon.co.uk and have found a lot, but do not know which one to purchase.

What book would you recommend?

Thanks

Given that no book is really going to make you a good trader, and that you'll need time and reflection and study, I'd suggest that you try books that open your mind a bit and make you think and are appropriate

So with that in mind, I'd suggest (and most of them are cliche),

Reminisces of a Stock Operator
Wyckoff's book/course on tape reading
Mind over Markets by Dalton
Reading Price Charts Bar by bar, Al Brooks
The Market Wizards books
Pring's book (can't remember the title)
Evidence based technical analysis, Aronson

A good book on probability and statistics, there are loads of these
A good and simple maths-finance book, i.e. wilmott et al

Options, Futures and blah blah, by Hull
Option Volatility and Pricing, Natenberg
forex patterns and probabilities, Ponsi

Golf is not a game of perfect (someone on T2Win (dash maybe?) recommended this and I thought it was actually surprisingly helpful)

New trading systems and methods, Kaufman

That should take a few years

 

[Shakone]

Also, it's worth checking out

http://www.trade2win.com/boards/trading-faqs/30637-books-should-beginner-read.html

for more ideas.

 

[Mr O]

Personally I'm a fan of market profile so I recommend a book by James Dalton called Mind Over Markets. You can find it on amazon.

 

[Armory]

An interesting approach is to not use any books.

Pull up a demo account and have a chart. Derive your own methods based on your observation.

One of the largest funds on the world (Renaissance Technologies) do not even hire traders preferring scientists such as astronomers. For example observational astronomy is focused on acquiring data from observations of celestial objects, which is then analyzed.

Similarly, if you could first observe, then plan and trade based on your own observations. You will soon develop your own personal edge.

 

[Mr O]

An interesting approach is to not use any books.

Pull up a demo account and have a chart. Derive your own methods based on your observation.

One of the largest funds on the world (Renaissance Technologies) do not even hire traders preferring scientists such as astronomers. For example observational astronomy is focused on acquiring data from observations of celestial objects, which is then analyzed.

Similarly, if you could first observe, then plan and trade based on your own observations. You will soon develop your own personal edge.

I completely agree. I recommend mind over markets as a good book for understanding how the markets function, but for the nitty gritty of actually placing trades and learning to be consistent, nothing is going to beat serious screen time with the dom. Just my two pennies

 

[penguin941]

Personally I'm a fan of market profile so I recommend a book by James Dalton called Mind Over Markets. You can find it on amazon.

I would have to agree with this. Read it a couple months ago due to a post here!

 

[sniper450]

Hi everyone!

I am quite interested in trading and would like to start, but with no prior knowledge I do not know where to begin. Could anybody recommend me a book to read that would give me the knowledge to trade? I have looked on Amazon.co.uk and have found a lot, but do not know which one to purchase.

What book would you recommend?

Thanks

if you be beginner I recommend these two superb book:
Day Trading and Swing Trading the Currency Market by Kathy Lien
Currency Trading For Dummies by Brian Dolan