New to trading - Got a bunch of books. Scared to learn outdated things.

Discussion in 'Educational Resources' started by Turiacus, Mar 8, 2018.

  1. JSOP

    JSOP

    Well just for the record, I am not trashing the list. I just find, from my experience that reading instructional books on trading isn't that helpful to my trading; it's good to get some basic information about technical analysis, how economic/news event affect trading and etc. but these information are now readily abundant on the internet that you don't really need books anymore. I find actually getting your hands dirty doing it trading first on paper then live teaches you LOT more about how to trading because trading is very individual. One person's experience and feeling about trading is very different from another. And all those books were written by other people from their own experience and feeling and trading capital that may or may not apply to me.
     
    #41     Mar 10, 2018
  2. SunTrader

    SunTrader

    Obviously everyone is entitled to their opinion. I feel differently, I like to know about other people's experiences. And I equate paper trading to paper training for pets. Some need it, some don't.
     
    #42     Mar 11, 2018
  3. smallfil

    smallfil

     
    #43     Mar 11, 2018
  4. smallfil

    smallfil

    There are lots of charlatans out there. Be careful of promises to make you a millionaire without even showing you any trade setups? A lot of seminars out there in hotels are conducted by salesmen! They are trying to sell you seminars costing $3,000 or more for a few days and you are supposed to become an expert trader. Ask to see their trade records. Most of them do not even know how to trade. I have been to a number of seminars that is why I know. I learned everything on my own. Not the best way because I made a lot of mistakes. If you can find a good mentor to guide you, you are better off doing so even, if you pay him!

    Rule 1: Protect your capital and exercise good risk management on all your trades. Do not risk more than 2% of your total capital on any trade. This reduces your chance of blowing up your account and losing all your monies.

    Rule 2: Protect your profits when you have them. Once, you have profits, put trailing stop losses on your stock positions. That way, if your stock gets hit, chances are good you keep most if not all your profits. That way, you have profits to offset against your losing trades. You will have losing trades which you have to accept if you trade the stockmarket.
     
    #44     Mar 11, 2018
    comagnum likes this.
  5. Markets have changed significantly since most of those books were published. The trend is now to follow blogs and not buying books. There are many good bloggers with free articles that are enlightening and this can point you to write direction. There is a lot of free material in this blog for example and the author is considered expert in "new markets", algo trading, machine learning .etc. You would start with the interview with Forbes. You will get the idea.
     
    #45     Apr 9, 2018
  6. Isn't she a Fibonacci girl? I have difficulty taking Fibonacci people seriously.
     
    #46     Apr 10, 2018
    Xela likes this.
  7. SunTrader

    SunTrader

    She is a woman ... who runs rings around you as a trader. So if you don't mind if I say, I can't take you seriously.
     
    #47     Apr 10, 2018
    murray t turtle likes this.
  8. All that reading will just confuse you. Get a trading and options reference book. Usually free. Open an account with simulated trading and practise. Get a profitable mentor that trades for a living, not an author or theorist. Don't believe the hype, try to beat the indexes, most can't consistently.Keep it simple. ..
     
    #48     Apr 10, 2018
  9. Oh, what a delight. I think I just spotted a Fibonacci aficionado. I can't wait to tell my friends. :D
     
    #49     Apr 10, 2018
  10. Unless you want to sell your soul, just stick with this book. Never outdated common sense investing.
     
    #50     Apr 10, 2018