Newbie FAQ - a must read for newbies

daves2074 · Mar 5, 2009

I would suggest reading anything by van tharp.
also to get inside the minds of great trades, market wizards is great

daves2074 · Mar 5, 2009

oh, also - reminiscence of a stock operator

london88 · Mar 7, 2009

Newb to Elitetrader posting...

Trader Vic - excellent read!

annieebee · Jul 29, 2009

for getting the right mindset i like ruth barons roosevelt books
they are excellent and for tech analysis alexander elder
as well as van tharp already mentioned

annieebee · Jul 29, 2009

ninja trader can help with back testing and modelling
don't think u can use it for automating live buy/sell orders
though but great for testing ideas

hippietrader · Aug 2, 2009

Quote from roberk:

Some old time wisdom for the big picture.
"If"

If you can keep your head when all about you
Are losing theirs and blaming it on you,
If you can trust yourself when all men doubt you
But make allowance for their doubting too,
If you can wait and not be tired by waiting,
Or being lied about, don't deal in lies,
Or being hated, don't give way to hating,
And yet don't look too good, nor talk too wise:
If you can dream--and not make dreams your master,
If you can think--and not make thoughts your aim;
If you can meet with Triumph and Disaster
And treat those two impostors just the same;
If you can bear to hear the truth you've spoken
Twisted by knaves to make a trap for fools,
Or watch the things you gave your life to, broken,
And stoop and build 'em up with worn-out tools:

If you can make one heap of all your winnings
And risk it all on one turn of pitch-and-toss,
And lose, and start again at your beginnings
And never breathe a word about your loss;
If you can force your heart and nerve and sinew
To serve your turn long after they are gone,
And so hold on when there is nothing in you
Except the Will which says to them: "Hold on!"

If you can talk with crowds and keep your virtue,
Or walk with kings--nor lose the common touch,
If neither foes nor loving friends can hurt you;
If all men count with you, but none too much,
If you can fill the unforgiving minute
With sixty seconds' worth of distance run,
Yours is the Earth and everything that's in it,
And--which is more--you'll be a Man, my son!

By Rudyard Kipling (1865-1936).
More...

The sad story was that Kipling pushed his son to enlist for the war. This after the son was rejected due to extreme bad vision. Kipling pull all kinds of strings to get his son a commission. The son was killed in war. .

hippietrader · Aug 2, 2009

Quote from roberk:

Some old time wisdom for the big picture.
"If"

If you can keep your head when all about you
Are losing theirs and blaming it on you,
If you can trust yourself when all men doubt you
But make allowance for their doubting too,
If you can wait and not be tired by waiting,
Or being lied about, don't deal in lies,
Or being hated, don't give way to hating,
And yet don't look too good, nor talk too wise:
If you can dream--and not make dreams your master,
If you can think--and not make thoughts your aim;
If you can meet with Triumph and Disaster
And treat those two impostors just the same;
If you can bear to hear the truth you've spoken
Twisted by knaves to make a trap for fools,
Or watch the things you gave your life to, broken,
And stoop and build 'em up with worn-out tools:

If you can make one heap of all your winnings
And risk it all on one turn of pitch-and-toss,
And lose, and start again at your beginnings
And never breathe a word about your loss;
If you can force your heart and nerve and sinew
To serve your turn long after they are gone,
And so hold on when there is nothing in you
Except the Will which says to them: "Hold on!"

If you can talk with crowds and keep your virtue,
Or walk with kings--nor lose the common touch,
If neither foes nor loving friends can hurt you;
If all men count with you, but none too much,
If you can fill the unforgiving minute
With sixty seconds' worth of distance run,
Yours is the Earth and everything that's in it,
And--which is more--you'll be a Man, my son!

By Rudyard Kipling (1865-1936).
More...

The sad story was that Kipling pushed his son to enlist for the war. This after the son was rejected due to extreme bad vision. Kipling pull all kinds of strings to get his son a commission. The son was killed in war. .

ramaTrade · Aug 19, 2009

For Options trading, you need read Sheldon Natenberg's book,
use IB's options scanner and test your strategies in the Options Lab ( http://www.TheOptionsLab.com )

And starts small.

JaiSreeram · Sep 4, 2009

A good thread with good links.

HiddenAgenda · Oct 4, 2009

Good thread. Interesting links.

I think the best piece of advice for a newbie would be to look at what actual traders are doing, for example:

www.dangramza.com

www.forex-hunter.blogspot.com

Study Michael Covel's book on the turtle movement, an important piece of research, in many respects.