Serious newbie in search for knowledge

Discussion in 'Professional Trading' started by c.chugani, Aug 6, 2006.

  1. This will save you a ton if you listen to it...

    Cut your losses!

    Seriously, don't let your ego or wishful thinking let you hold onto losers. DON"T DOUBLE DOWN.

    Let your winners run...BUT don't get greedy. Remember nobody went broke taking a profit.

    That advice above is worth thousands...send me a check...:D
    #21     Aug 7, 2006
  2. pdonlevy


    The books listed in previous posts are all good suggestions, but I have one more.

    The first trading book I read was 'A beginner's guide to day trading online' by Toni Turner.

    Its basic, straight forward and good introduction to some basic patterns and stategies. Its available in paperback, and is quite inexpensive.
    Once you have read it twice and digested it, then move on to Elder, Nisson, Murphy etc.
    #22     Aug 7, 2006
  3. excuse me for my noobishness, but could you please elaborate?
    #23     Aug 8, 2006
  4. Thank you for your time and such a valuable list you have posted above.

    I am surprised though, you haven't included any of Alexander Elder's books. What is your (personal) view on them?

    I believe I shall start with what you call "introduction & context" books. I shall pick up one of those, and maybe one from the "High level: How to- The short list" list?

    Also, are the anecdotal/historical books worth my money as well?

    Kindly note I don't won't to get clouded with too much information either. I am just starting off, and would just like the necessary reading material to familiarise myself & build confidence in this profession.

    Thanks again.


    #24     Aug 8, 2006
  5. MTE


    Some consider "Reminiscences of a Stock Market Operator" (Edwin Lefevre) as a must-read.
    #25     Aug 8, 2006
  6. bl82


    As for Elder, I scanned (but didn't read cover to cover) "Trading for a Living." I wouldn't steer you away from it, but I got a lot more out of "Trade Your Way to Financial Freedom" (despite the hokey title) and "High Probability Trading" -- as both of these books cover just about all the bases and are excellent places to start.

    In terms of classics, "Reminiscences of a Stock Market Operator" is a great historical account and one you will eventually treasure. The main reason I included "How I Made 2,000,000 in the Stock Market" is that it is such an easy read that describes a very simple system. You can polish off this book in two hours and digest everything you need to know; all the other books in the list above much more require careful study.
    #26     Aug 8, 2006
  7. Dogfish


    One of the best free charting packages is included here and I think you can dummy trade without putting down money, well worth a look if your thinking of getting into trading to get the feel of how the markets move in real time.
    #27     Aug 8, 2006
  8. I visited the link you posted.

    However, they only deal in CFDs. And the free software for download is a 14-day trial version.

    Are you sure you can paper trade on their platform?
    #28     Aug 8, 2006
  9. Tums


    it is a fun read

    and history does repeat itself
    #29     Aug 8, 2006

  10. ========================
    Amoung the best are Jack Schwager[3] top trader books;
    William O Neil book How to make Money in Stocks, Short selling book
    & books concerning Jesee Livermore.:cool:

    Wisdom is profitable to direct; dont know of any set of books that will teach trading, even though the above list comes close;
    trading & brain surgery just cant be learned from books alone, ,
    even though those are quite helpful.

    Markets are similiar in any nation.
    #30     Aug 8, 2006