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I want to learn the basics

  1. 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
  2. Elder - Come Into My Trading Room
    Dr. Alexander Elder Comes in CD I got Both.

    Best Teachings For beginners
    Saved my ass
  3. 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.

  4. Harris's Trading and Exchanges is a comprehensive overview of the markets.
  5. 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.
  6. you are trading coach! and now you want to learn the basic?
  7. 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.
  8. :confused:
  9. what do you need to learn ? in this market just buy every dip and keep adding if it goes lower , like alot of the guys in here are doing and making tons of money in this market jake
  10. The OP's imaginary online persona is still a work in progress, as I'd previously pointed out a couple of times. Please let's all be patient.
  11. These guys are jumping into options as beginning stuff. If you are starting out, I wouldn't advise jumping into options. Learn from basic understanding charts books. Then pull up a service like big charts or prophetnet and start playing with the indicators to get hands on experience. Once you think you understand the fundamentals, then you can start playing with real money and see how well they do or do not work.

    Good idea to look at psychology aspect as well (elder or tharp authors), as the market is far from a science like engineering trains you. It's more like science with extreme politics IMHO.

    If you like to learn about patterns, bullkowski has a good book on understanding chart patterns with plenty of statistics. He was a former engineer as well. Martin pring has a few good TA basic books that also cover oscillators. You should understand oscillators easily if you dealt with signals.