FAQ Which Books should a Beginner Read?

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SmartGeek

Active member
206 6
Thanks for sharing such a valuable links here, it would be quite helpful for the newbies and expert traders also. Keep sharing,
 
First off I just want to say what an interesting thread this is; it is fascinating to hear other people’s feelings, opinions and reasons.

I have already put some of the suggestions made by others in my must read list; I honestly feel we, as traders, can always benefit from learning more and we need to keep an open mind on these things.

Ultimately, and this will be difficult for some to hear, the answer will depend on the person asking the question. This question reminds me of traders who are looking for the holy grail of trading systems. There is no absolutely correct answer to such an open question. The answer will always depend on the answers to a variety of questions such as what markets you trade, the time frame you’re trading in, your personality, how much time you have and can devote to the market etc.

The best answer, for my style of trading, is the book Trade like a Stock Market Wizard by Mark Minervini. He is one of the traders interviewed by Jack Schwager for Stock Market Wizards and his style of trading suits my personality and situation best. But this book would almost useless for a Forex day trader but the book suits me which is ultimately the most important thing.

I also want to say that books should not be a replacement for thinking… a terrible and dangerous idea. Books should be used as an aid to encourage and enhance your own thinking and help you do so more clearly. They are not an answer in and of themselves but are a valuable resource!

Good luck with your trading everyone.
 

LionelID

Active member
107 0
Thank you! Very useful! :)
 

CalebM

Junior member
11 0
Could someone recommend me a book that I absolutely need to read when starting to learn about trading? Thank you for help!
 

Kaeso

Established member
836 91
Could someone recommend me a book that I absolutely need to read when starting to learn about trading? Thank you for help!
for total beginners, if you want a book, get one thats a general introduction to trading as a whole rather than one which focuses on one area.
 
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Brumby

Established member
593 135
Could someone recommend me a book that I absolutely need to read when starting to learn about trading? Thank you for help!
Read phantom of the pits. It is a free resource that you can just google to download. There only is one major theme from the book . Learn how to loose in trading. Most traders fail in this business because they don't know how to loose.
 
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CalebM

Junior member
11 0
for total beginners, if you want a book, get one thats a general introduction to trading as a whole rather than one which focuses on one area.
Thank you, Kaeso! I found a book "How to Make Money in Stocks" by William O’Neil. Do you know something about that and is it worth reading?
 

CalebM

Junior member
11 0
Read phantom of the pits. It is a free resource that you can just google to download. There only is one major theme from the book . Learn how to loose in trading. Most traders fail in this business because they don't know how to loose.
Great! Thank you for useful advice!
 

dbphoenix

Legendary member
6,927 1,233
From another thread:

I was fortunate in that the first book I read was How To Make Money In Stocks, in 1988. Not only did this save a great deal of time by putting me on the right track in the first place, but I was able to avoid the whole carnival aspect of trading and investing (this was long before internet daytrading) and nearly all the dead ends (the one dead end which I fiddled with for a time but abandoned relatively quickly was indicators).

For less than four bucks, it's an expenditure that could save thousands.
 

dbphoenix

Legendary member
6,927 1,233
Stick with the first edition if you can. Each succeeding edition became more and more a hard sell for "Investor's Business Daily". Understandable but unfortunate.
 

Kaeso

Established member
836 91
Thank you, Kaeso! I found a book "How to Make Money in Stocks" by William O’Neil. Do you know something about that and is it worth reading?
Hi, i haven't read this book properly but i did have it on my good books list!

Whether i thinks its "worth you reading" as a beginner as appose to another book would feel too subjective. So ill just say read it if it interests you.

PS refer to the first posts of this thread, it is an FAQ :D
 
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