Trading Advice Required...

Discussion in 'Trading' started by TheSorcerer, Aug 31, 2007.

  1. Hello, I am a new stock investor/trader. Can you guys recommend me some good books on investing as well as trading?
  2. if you arent color blind, maybe you could try wizetrade. Green means buy and red means sell!
  3. I like it when they arrows on the chart, that's pretty exciting too.:D
  4. Really, why waste money on books, Yahoo mb is free. C'mon, jump in the waters fine.
  5. btw, love the title of the thread "Trading advice REQUIRED". not "trading advice needed" or "trading advice appreciated"

    next time title it "trading advice NOW ASSHOLES" :D
  6. Welcome to ET

    If I may suggest, to obtain constructive advice on this forum you must show your due diligence on attempting to locate this information on your own. If not, well review the previous replies.


    First you must determine your intentions, trading or investing. The two are completely different and require different skill sets. If you determine that trading fits your personality and abilities then you must determine what type of trading you intend. Position, Swing, Intraday, options, futures, etfs, stocks (long/short) etc...

    I am a relative newbie as well and to follow is my initial reading list. The topics on asset allocation and index funds are good primers on investing basics... encyclopedia on chart patterns and toni turners beginner guides on day and short term trading are good beginning reading as well... Benjamin Graham's the intelligent investor is a must read, a investing classic.

    The Intelligent Investor, Benjamin Graham
    The interpretation of Financial Statements, Benjamin Graham
    Value Investing from Graham to Buffett and beyond, Greenwald, Kahn
    The Four Pillars of Investing, William Bernstein
    The Intelligent Asset Allocator, William Bernstein
    Asset Allocation, Roger C. Gibson
    All About Asset Allocation, Richard A. Ferrari
    All About Index Funds, Richard A. Ferrari
    Bogle on Mutual Funds, John C. Bogle
    Common Sense on Mutual Funds, John C. Bogle
    Global Investing, Ibbotson & Brinson
    A Random Walk Down Wall Street, Burton G. Malkiel
    Financial Statements, Thomas Ittelson
    Encyclopedia of Chart Patterns, Thomas M. Bulkowski
    Technical Analysis from A to Z, Steven B. Achelis
    Technical Analysis of the Financial Markets, John J. Murphy
    Technical Analysis of Stock Trends 9th edition, Edwards, Magee & Bassetti
    How to get started in Electronic Day Trading, David S. Nassar
    The Master Swing Trader, Alan S. Farley
    Beginners guide to day trading online, Toni Turner
    Beginners guide to short-term trading, Toni Turner
    Japanese Candlestick Charting Techniques, Steve Nison

    If you intend on trading, anticipate at least 1-year of reading and paper trading to develop a consistently profitable system prior to risking ANY money, until then you are best served to place your money in a money market fund at 5%...

    The most important term you will learn in your quest for knowledge in investing/trading is Capital conservation....

    Investopedia is an excellent resource to learn financial terms.

    Also, fyi, the green arrow, red arrow programs are snake oil... they are basically candy coated technical analysis indicators and oscillators... you must understand the underlying information the arrows are derived from and base your trading/investing decisions from that information and have a strong fundamental understanding. Not from black box system's. Think about it, if the systems worked, why sell them and not just trade them to wealth...?

    Hope this helps,

    Good luck and safe trading...
  7. After you've read that exhaustive list of books tune into the ET forum, "how to trade when you go blind".
  8. Books are for chumps, the market is going to close in a few hours.
    #10     Aug 31, 2007