I was wodering what you guys consider must read books for beginners? Preferrably something that will outline some of the language you guys use (that I still don't understand).
The best education is screen time. Don't get carried away with too many books. My recommendation is High Probability Trading by Marcel Link. Many books can be found on the internet, so don't go buying a bunch.
I have found the R:R,win%, expectancy etc.,. to be quite of a drag when one day trades. Good concepts but the evil market does not behave that way. Set it and forget it does not work for me. I will bet that Tharp does not trade. As far as books I will recommend "Zen in the markets" and "Pit Bull".
I was not very accurate in my statement. The usual R:R (1to3) and the static concept of entry and stop loss does not work for me. There is of course a win% expectancy and win% that work for me. But they are almost 180% opposite of what the book discusses.
Reminiscences of a Stock Operator by Edwin Lefèvre Pit Bull: Lessons from Wall Street's Champion Day Trader by Marty Schwartz The Psychology of Trading: Tools and Techniques for Minding the Markets by Dr.Brett N. Steenbarger
The best beginners book for chart reading/TA is Stikky Stock Charts. http://www.amazon.com/Stikky-Stock-Charts-Professionals-Smart/dp/1932974008
Discretionary Trading ----> Screen Time. Price action + Auction Market theory + Basic statistics + Market Tendencies + steenberger (decent starting point) That should get you off the ground.