Hi Folks, Can you please guide me to a name of a good book talks about the basics of trading. For example, I do not know what Open , Close, Low, High, oversold, overbought means in the trade world. I want to know the motivation behind these names, I wish if I can read the right book which can put me in the picture. I do not want to trade blindly, I do not mind if the book is not talking about forex in specific, but what I care about is the concept itself. I am from engineering background and I have decided to delve into the trading word. Thanks Allot
Elder - Come Into My Trading Room Dr. Alexander Elder Comes in CD I got Both. http://elder.com Best Teachings For beginners Saved my ass
Very good explanations at investopedia, just type in the word ie overbought... http://www.investopedia.com/terms/o/overbought.asp Great introductory trading tutorials all the way up to complex options for free too http://www.investopedia.com/university/
As a engineer you have the right basis to start. Look up the books section on this site. Search the forums: => Journals, Technical Analysis, Strategy Trading in particular. Spent a lot of time reading. Use www.bigcharts.com for free to study charts. Sundog
Try John Murphy's Technical Analysis of the Financial Markets for a basic start point, followed by Mark Douglas Trading in the Zone & then the Brett Steenbarger books.
I recommend Trading for a living by Elder. But you can get a lot of free and useful info on the web and also from this forum.