One of my friends has asked me to recommend some good books to learn trading
well, here are the two which immediately come to my mind...
1. Trading for a Living - Dr.Alexander Elder
2. Reminiscences of a Stock Operator - Edwin Lefevre
Best learning though is by doing. Hardly any Marwari learns trading from books IMHO
And best doing is by playing small, not fearing losing, noting every observation, making a small simple system and improving it continuously
Pl watch movies on stock trading
Gafla and Margin calls are excellent
Reading "how to trade" books is the surest way to get lost. You'll learn all the wrong things full of how claims. It will be extremely difficult and costly to unlearn them later.
Absolute basics and definitions are there on Google.
One of the reasons i didn't get lost was because I read no book. Just inspirational books of champions in market
Avoid learning technicals first. Technicals are like fertilizers and pesticides which kill the healthy trading bacteria inside budding trader's fertile mind. Later on, becomes impossible to switch to natural organic gaming trading sense.
Play the trade, don't trade the trade. Be cunning and wise.
Touch technicals only after understanding the game and tactics behind it. Nobody guided me and was fortunate to get back on the highway after wandering for years
Operators want you to learn technicals. They know what technicals are indicating and they know poor ducks are trading on technicals
Technicals don't lie but only if you learn to interpret them yourself and not by using codebook provided by dropout trading teachers and authors
No comments:
Post a Comment