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Best financial publications for a newbie trader

  1. I would like to jump into the financial markets as a trader but admit that i know very little about the financial markets. Anyone know which publications I can read on a daily or weekly basis for the next year or so to get me up to speed on how markets move and what tends to move them? I have heard that "The Economist" is a good magazine to start out with. Any other ideas?

    thanks
     
  2. Barrons would be my pick for a perceptive, market-savvy publication. (Of course, I'm not saying they are right all the time.)
     
  3. If you want to be a trader don't read the financial press.

    I'm only half-joking.

    If I were you I would pick an index and couple of stocks that interest you and follow them closely. Learn from watching.

    Then, in your spare time, scan through Barron's on the weekend, but try not to form an opinion. Then compare what you've read to what you see in your index/stocks the following weeks.

    Good luck. It's a fascinating journey.
     
  4. Investors Daily, Futures, Technical Analysis of Stocks and Commodities, Active Trader.

    Barrons is background only. Most of the advice you read there, you should do the opposite.
     
  5. thanks guys i appreciate it
     
  6. My exact list. I would also add the Wall Street Journal. It's important to know what people consider "significant news" for the day.

    Also, the new SFO magazine.
     
  7. That seems to be a lot of reading. Do you guys generally cherry pick the articles you read from these publications or do you read all the articles? thanks
     
  8. This is one of the best magazines going right now.

    http://www.sfomag.com/

    Both the major financial newspapers are good but, the WSJ crushes IBD as far as what you will actually learn from reading it about the markets and wallstreet in general.

    IBD has some very cool stuff (business profiles, better graphs, better stock tables, etc), and it has its ardent fans much like apple does compared to the intc/msft duoply but the WSJ is what most actual traders and fundmanagers still read and it runs circles around IBD as far as content and analysis goes.

    If you have to just go with one paper, I'd go the WSJ.
     
  9. LOL, was typing the same thing, only it took me longer.

    :p
     
  10. "The Economist" for trading ? hahahahaha ! Sorry I don't mock you but the mag because but it would be the last one to read for that purpose except if you work for a bank and want to appear a serious banker for clients :)

    Magazines for traders are well known like Stocks and Commodities and Active Trader Magazine which you can download full mags samples here to get a taste:
    http://www.activetradermag.com/sampleissues.htm

     
  11. sfomag ? rather good more for marketing industry than for trading but that's only my opinion :).

     
  12. I assume that "The Economist" will keep one up to speed on the current state of the economy (that's just a guess though since I've never picked up an issue of the magazine myself). I think knowing exactly what's going on with economies throughout the world is an important part of being a trader. Actually, the Economist was recommended to me by a manager at a major Futures Trading firm (she dealt in t-bill trading)....i was interviewing for a possible position as a fixed income futures trader upon graduation.

    QUESTION: If I read "The Economist" regularly for the next year, will I have an understanding of how the financial markets move and what tends to move them? What benefits do YOU see to reading "The Economist" regularly for the next year, even if such benefits are not related to trading?

    Thanks
     
  13. Bed time reading. You'll never learn any true trading "secrets". Just bits and pieces and an idea or two.
    Think of them as Vogue for traders :)
     
  14. The way stock market moves is very different from the way economy moves and if you don't know that academic research is just discovering also see :

    http://www.elitetrader.com/vb/showthread.php?s=&threadid=21918

    And if you don't believe it this is an exerpt from a trader analyst of an important bank who has written in a trading book (I translate from french in bad english):

    "The markets of long term rates are well correlated on a monthly basis INDEPENDANTLY of the ECONOMICAL ACTIVITY OF EACH COUNTRY... this means that the study of economical activity is not necessary for anticipating the behavior of Stock market. "

     
  15. www.elitetrader.com
     

  16. don't start off reading any magazines or major publications yet, you are new the the financial world, start by going to your local book store and find a book about how the market works and explains what certian things mean, if you start reading magazines and papers, your going to see all of these words, like yield, beta, p/e etc. that you are going to no idea as to what they mean, granted these things don't play a major role in everyday daytrading as much as they do with long term investing, but you still want to know what the hell is the people in the mags and papers are saying right? make sure you find a book about how the markets what, anything for beginners, after you understand that, then start looking at mags, tech analysis, if you start reading the wsj right now, you're not even going to get through the first page and say what the hell are they talking about, no sense in reading something you don't understand yet.
     

  17. dude,

    i subscribe to 17 magazines and numerous newspapers. i read them all. knowledge is power in this game. not just market knowledge, but the ability to ascertain macro trends is KEY. voracious reading is one way to obtain this knowledge. AND not just the economist-- my readings of that rag show a clear agenda.

    best,

    surfer:eek:
     
  18. That's pretty funny! :)
     
  19. Perhaps not the stock market but what about the forex, futures, commodity, and bond markets? I think economic trends can be used in these areas of securities trading. I don't think many people would disagree that relationships between bond behaviour and stock behaviour can and have been established. Therefore, it appears as if economic trends do, perhaps in an indirect way, become useful in stock trading as well (i.e. you can use economic trends to come to conclusions about the bond market and you can look at bond behaviour to determine stock behaviour, or to make plausible speculative plays).

    Also, just because a study of economical activity is not necessary for anticipating stock behaviour, doesn't mean that such study CAN NOT be used to anticipate stock behaviour, right?
     
  20. I assume you mean an anti-bush, left wing agenda? :eek:
     
  21. I recommend (in the following order.....)


    1. Chart observation.....Chart observation.....Chart observation,
    etc., etc., etc.

    2. EliteTrader.com

    3. Active Trader
     
  22. Friend OxonianTrader,
    All the info you can place your hands on gonna be useful ofcourse to enrich you as a trader and as person as well.

    However I agree with the HarryTrader's post in the regard of trading. You don't need to master the economy fundamentals to trade. In the context of your post you're talking about Bonds-Stocks relationship, which is true.

    All the markets are linked one to another somehow. If you want to go deeper is this matter you gonna find that the market relationship doesn't stop there so you also will discover the direct or indirect relation of the US markets to the Japanese Markets to the British market , German Bonds to US bonds , Us Bonds to Japanese Yen and the list goes on and on and on.

    Trading magazines are great they print very good articles about fundamentals , technicals, tools , market psychology, etc , but probably they don't cover the specific economical "machinery" so deeply.

    As other fellows posted , your local library is a very good place to start. It will all depends on how deeper and wider do you want to know how the financial market works. That might be a journey of a lifetime.

    Best.
     
  23. What I quoted above is about interest rates and so bond markets. And through arbitrage theory all markets are tightly linked and for once in practice it is also "true" (in practice for trading). I didn't say that knowledge of Economy (as for its mechanics understanding) is not useful, in fact I have and will always say that economic and financial knowledge are necessary for global vision but this is different from the useless informations you can read in economic magazines (from trading point of view not from others) that would explain you AFTER the fact that stock market has plunged due to the dollar's plunge and that when you read forex analysts who would say that the dollar has plunged because of stock market well if this is the kind of trivial information (which ressembles tautology) that you want then I won't say anything against that :D. I caricature of course but I think that if you really want to learn something it is in economic books for the mechanics and above all trading books and magazines because the short term mechanics are well different from the long term mechanics and economic is about long term not variation on minute hour day week or even month scales but rather years.

     
  24. Thanks for your very helpful and thought provoking comments.
     
  25. You have made some nice comments in response to others.

    One very pertinent thing you said above, shows good movement in your thinking. You may get to a place where your skills and tools will allow you to do what you wish. Most people do not get to a place where they can even consider the better possibilites for operating in the financial industry. In the financial industry everything is related to everything else and it is very remarkable how you can anticipate correctly anything that you chose to focus upon.

    You can see many people here have closed almost all the doors they have failed to pass through. Luckily making money in markets just comes down to doing it better than others. that you can do.

    You will find out what to read and it will be excellent stuff too. Just read what you mentor gives you to read and mimick his information gathering techniques. Pick a really rich mentor who has lots of successful younger buddies doing what he does.
     
  26. Thanks for your response
     
  27. Marketsurfer,

    I too believe knowledge is power in this game and not just market knowledge. I was wondering if you could briefly list some of the magazines you subscribe to. I generally read:

    Futures
    SFO Magazines
    US News & World Report.

    Thanks in advance!
     
  28. imho: If you're going to day or swing trade, almost all the mags and papers are just so you can carry on an intelligent conversation with others in the financial community but they offer little to improve your trading. However, being able to network and communicate with others is huge if trading is going to be a career I am sure.

    But you can learn what you need from the free stuff (cbsmarketwatch): downgrades, overnight Tokyo news, earnings reports, macro reports that will effect the mkt in the next few days. Also: some of the free forex sites have great macro/economic news and tell you what you really need to know to understand the basics of the int'l mkts.

    Some fundamental reading can help but it's icing on the cake. 90% of what you need to know is in places like Elite Trader, Active Trader and other things that people have already mentioned....
     

  29. Hardly.

    Why not just grab a copy and start reading?



    I think that's rather unlikely.

    Reading it will certainly help you keep abreast of the direction and state of world economic development -- well, from the perspective of one 'what's best for humanity' point of view, anyway.

    Just remember, most of what you read in financial publications is underlied by the mentality of the following classic post that I've dug up for you, by Babak. (Maybe after one year of reading such publications you will still be under the impression that there is a group of people out there that "knows" something about the markets. Make a point to check out the above link in ten years time, however, and it's a good bet you will have changed your mind.)
     
  30. My favorite from which I learned tons is Technical Analysis of Stocks and Commodities.

    Most of the newsstand mags should be read with an eye of what NOT to do.

    Wall Street Journal is nice and thick. Lots of pages to pass the time when stuck on an airplane or in a hospital waiting room. The articles are so very interesting...kind of like a mens version of People mag. I don't see any way to make money from it thou.