Noob needs to learn more - what books do I need? - Page 3
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Thread: Noob needs to learn more - what books do I need?

  1. #21
    Since noone has mentioned them. . The only compulsory books to see, when beginning are:

    Technical Analysis of the Financial Markets by John J Murphy (that can be bible).

    Along with the trading plogy novels by Brett Steenbarger, Enhancing Trader Performance and The Daily Trading Coach.

    To be honest the elder and adam's novels made me vouch for the entire length whilst reading them because of this unnecessary preechyness from the writing, which some might like.

    The above books will enable you to work out your personal trading. As in, work it out for yourself instead of playing simon says and made to feel bad for not doing so.

    EDIT: Yes babypips college definitely!! Its some of the greatest substance I have seen on currencies and trading in particular outside of formal study. Really easy read too (like the aforementioned books).

  2. #22
    Quote Originally Posted by ;
    Novels... I have read many of them. I'd say no publiion alone could make you a trader. Besides, you can get a lot of stuff from several websites like fxstreet and babypips.


    Steve Ward - High Performance Trading: 35 Practical Strategies and Methods to Improve Your Trading Behavior and Performance

    Very practical and with a few good advice. That is it if you need one book on plogy then. You will find timeless books by Mark Douglas and Brett Steenbarger, but I find them far too long and theoretical. Those are...
    You can certainly download the first 4 chapters at no cost from his site

  3. #23
    Most of the resources you need are here on forexintuitive or online. In the same manner as books, you have to find what is good from what is not so good, except that the internet is completely free. There are a few very good videos posted on the internet, also - primarily on Youtube. Help yourself.

  4. #24
    Hello Traders,
    That is my first Article @ FF. I'm a newbee and I want some help from the seasoned traders here. There is this book which claim is to be The real bible of specialized analysis Title of this book is Technical Analysis and Stock Market Profits. Written by Richard W Schabacker, are Technical Analysis employed differently in stocks and FX. I'm asking this since this book says stock market profits rather than FX market profits. Second is this book worth buying.

    Really appreciate help in this respect traders.

  5. #25
    High Probability trading by Marcel Link is completely worth reading. Has it been cited on this tread?

  6. #26
    Quote Originally Posted by ;
    Hello Traders,
    This is my Initial Article @ FF. I'm a newbee and I want some help from the experienced traders . There's this book which claim's to function as actual bible of technical analysis Title of this book is Technical Analysis and Stock Market Profits. Composed by Richard W Schabacker, are Technical Analysis applied differently in stocks and Foreign Exchange. I'm asking this because this novel says stock market profits rather than Foreign Exchange market profits. Second is that this book worth buying.

    never read it, but remember that the name has to invite you to reading.
    Same book could be called technical analysis, but it sounds more boring, doesn't it?

    Besides, some People Today say that If You're Able to manage on one market you can manage on any market, but I'd rather to find something about Foreign Exchange anyway, and after it I'd check opinions of others before buying

  7. #27
    Quote Originally Posted by ;
    In the meantime I hope to read some more books, to get some more understanding

    Probably not many of you lasted till the finish, sorry for long and boring story;--RRB-
    I adore Nubies.

    Dear Nube,

    While having a library full of books about The Financial Markets and Trading the Financial Markets, is quite impressive thing, I didn't see one of your listing of knowledge building instruments, the one tool which any Nubie must have. Why is this? Why did you leave out the most important tool the Modern Trading Nubie shouldn't ever go without?

    Where's your copy of Excel, or 123?

    You won't find a powerful tool for studying, compared to Modern Spreadsheet. LOL!

    The novels are perfectly fine, don't get rid of them - just table them for today and then go get yourself hooked up with Excel, or 123. Open a sheet and then kind: Open High Low Close, into their own respective cells, at a row near the top of the sheet. Then, go get some history data in the platform you trade on, or demonion together and ditch as much OHLC data to the spreadsheet which you can get, in the Daily time period (D1 Bar Data).

    Change the sheet wallpaper colour to black and the font to white, because you will be spending a HUGE quantity of time studying this one sheet.

    Learn how to use the basic mathematical capabilities of your spreadsheet - you won't require anything exotic for the time being that will come later. Learn how to quickly enter spreadsheet formulas and functions. Learn how to use the software functions for loing the best and Lowest Values from a set of data.

    Subsequently, only start'looking' in the data. Scan from left to right on the very first bar of data. From the spreadsheet, bars of data becomes rows of data - its just that easy. If you've dumped 1,000 rows of D1 OHLC data into your spreadsheet, then that is EXACTLY like looking at a 1,000 D1 bar price chart. In fact, it is better. It is 10 TIMES better than looking at a candle chart.

    You're a Nube. What you desperately need to know is ONE thing right today:

    The FX Market has Price Structure and Price Patterns that Repeat Themselves.

    You just have to prove it on your own. And, the way you go about doing this in a very profound (visceral) level, is to observe a few of those patterns with your own two eyes. The absolutely best way to accomplish this mission, will be to begin observing market data in the RAW.

    You may learn SO MUCH from the procedure and it'll lead you to the development of your OWN custom indior designs - designs which nobody else gets, knows about, or may take from you - and/or - use against you personally.

    However, what am I looking for - states the Nube?

    The Nube constantly says that (what am I looking for, what am I looking for, what am I looking for...) Relax, you would not be a proper Nube, if you did not ask that question.

    Here Is What you are looking for Nube: PATTERNS!

    However, what type of pattern - states the Nube? (the nube ALWAYS asks that question)

    Here is the type of Patterns you are searching for Nube: REPEATING PATTERNS!

    However, what kind of Repeating Patterns? (Oh, the Nube! The ALWAYS ask that question)

    Here is the type of Repeating Patterns you are searching for: MAGNITUDE!

    However, what exactly does Magnitude mean? (There goes that Nube question !)


    With that information and your appropriate due diligence, then you may move yourself from Nube Trader, to Novice Trader and from there, you may ultimately move yourself into Successful Trader status.

    Patterns that Repeat with Differential Magnitude involving TWO Price Points.

    If you loe those, and then learn how to project the next pattern that has not yet taken shape in the market, you may put yourself light years ahead of All of the other Nube Cakes out there, buying novels that really look good from the ole Home Library, but never manage to inform one of the most important thing about trading:
    Time Management Magnitude Probability
    You cannot trade long-term without these components well understood and well accounted for on your indiors. Attempting to accomplish this, is absolutely futile and even irresponsible.

    That is what they do not teach you in Trading School 101. Learning how to find Magnitude, will lead one to unlock the exact loion of the other three (3). It does not matter what the Magnitude of the Pattern turns out to be, as long as it matches YOUR requirement for profitability, within the time frame that YOU pick is relevant - not what somebody else decides for you.

    Every prosperous trade you earn this company begins with appropriate research.

    If someone had told me when I first started, I probably could have cut my own learning curve declines by about 50%. I have lost tens of thousands of dollars getting up to speed as a Trader. Today, 1 pip = $5k to $10k , based upon the transaction signal generated by the system I use. I would like to settle down somewhere in the PPV area of between $75k to $150K (some day). Proof positive that all of us have some work yet to do.

    They say the Trend is your friend. I say that Magnitude between Price Points, is your BEST friend whatsoever.


    Since when the chips are down and things begin to get a bit rough, you will ALWAYS know who your friends are when the substance starts hitting the fan, and Magnitude will always point you into the appropriate path - when all those other fake buddies tuck their tails and begin to head for the exit signals.

    Give Magnitude the respect it deserves and it'll bail you out when times are tough and there are no other so-called buddies in sight.

  8. #28
    Thank you for the advice. I see I have a lot work to do:-)

  9. #29
    @IDOUBLE, nice response and yes, the list contains only one too many novels - looks more like a listing for the neighborhood bookstore..and did enjoy reading your response. .

  10. #30
    Quote Originally Posted by ;
    Hi All
    I lost quite a lot of money on trading, therefore I thought it'd be better to spend some money on schooling in stead of ridding them on markets. I attempt to read about different markets but am interested largely in FX
    So far I read, or have in my own library waiting to be read:

    The Small Book of Common sense Investing: The Only Way To Guarantee Your Fair Share of Stock Market Returns (Little Books. Big Profits) from John C. Bogle

    my first publiion about markets I read, and quite interesting. I have few grands at HSBC indice...

    I believe you read books,,,had enough
    training and more expertise is required in this

    the training and expertise you will find balance and discover exactly what makes you familiar with the method you employ

    just my humble opinion
    there is no drawback to see a thread in this connection


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