you aren't going to learn how to trade in a book.. just like you cannot become a professional golfer by reading books on how to golf... when are people going to udnerstand this!!!!!!! Ther are no tricks ..there are no secrets... get in the markets and trade with real money.. start small and learn from your mistakes.. if it was this easy there would be full time traders on every block... and guess what.. the ICE platform shows exactly how many people/accounts are logged in at any given moment in time... yes it shows the total number of "players" obvioulsy some of those players do control numerous accoutns but it is still teh number of players!!!!!!! On most days there are abot 8500 players total trading all the different contracts and spreads on ICE.. Yes that it is folks.. 8,500.... in teh entire world... if you coutn jsut the us 50 states.. thats only 170 PER State.. Ice does on average..400,000 contracts in just oil.. this means the average is 47 contracts a ay per participant.. this is way off.. most individuals do very few intraday trades in oil... institutions and large traders who are successful do the majority.
The books (TradersSecrets By Murray & Technology for Trading in the New Millenium by Murray Ruggiero) were really helpful & good; and easy to understand. The concepts were put in a proper manner; you could grasp what the author was trying to state. The graphs, diagrams and tables were there to help clarify things. Moreover, there were many things to learn and they have to be learned with practice. You shall need to keep reading to apply them in real life and to keep referring back to check out your performance and analyse it also. These books cannot be fully grasped in one reading, there shall be new things to learn every time you read them. I have seen it and am trying to see how they are applicable in real world trading. So far so good. I appreciate the author writings. They are definitely worth reading and am glad to have bought them.
Yes, I agree with you. But, do we not have books for various subjects like science, maths, arts etc.? Why have them? Why not learn on oneâs own? We all need to know basics, and books, courses & others help us to know them. Also, you are right no one can become a successful trader by reading, but same case can be applied to other fields. Millions study but only a few are successful. Why so? Everywhere, people say âPractice what you readâ. So, one needs to put in practice what you read. But, what to put in practice, these books tell us. They tell us the experiences, things to do & avoid, etc. Yes, it is not necessary what the books say will work for you, but the concepts & basics are clear. You still need to analyze, practice & check out whether they work for you. Books are never a waste, as knowledge is never a waste. But, it may look foolish to jump into trading without knowing something of it. People trading may not tell you the secrets or have time to guide you. So, books are here to help you out.
When I wrote traders secret with Adrienne our goal was to interview average people who became successful traders and try to figure out what made them successful. We did not only deal with psychological issue but also their actual trading method.When they did not give us much detail , I tried to fill in the holes in my analysis. This book is different than the wizard books in that we offer an analysis of each person both , NLP modeling as well as their trading methodology at the end of each interview.