an advise for aspirant traders

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

lessons from 'freakonomics'

currently reading
"Freakonomics" - by Levitt & Dubner

kept jotting down the lessons in my language or code words to remember for long time............thought u would love to read too
=========================================================

- everything is (or isn't) because of some incentive

- every "conventional wisdom" is a myth

- world is a astronaumical mix of "butterfly effects"

- elephant effects must be obvious, too

- how u look at the data is what it tells u

- economics decides everything

- economics and technology can solver any problem

- there is no truth.....only convenient truth

- perception is the reality

- life is unfair, world is unbalanced, manind is unequal

- goats are born to be milked

- goats are born to be scapegoats

- go to ground zero and check

- demand and supply still decides it

- the whole world is caught in a tournament it knows it has no chance of winning

- try something different to have any chance of making it

- inability to innovate quickly and sufficiently is the world's problem

- time changes the game before u master the rules

- risk vs reward is only for the ruled

- world is the sum total of gangs

- it's all about money, honey!

1325 trading wisdom quotes

http://www.scribd.com/doc/59950770/Trading-Wisdom-Quotes

trading in the zone (summary of ebook)

http://tradersbase.com/backup/ebooks/summarytradinginthezone.pdf

japanese candlestick charting techniques (ebook)

http://www.4shared.com/get/yOLV1cNR/Japanese_Candlestick_Charting_.html

reminiscences of a stock operator (ebook)

http://www.trading-naked.com/library/jesse_livermore.pdf

100 laws of business success (ebook)

http://www.secretsellingtips.com/Vault/100LawsebookFINAL_BrianTracy.pdf

the 100 absolutely unbrakable laws of business success - brian tracy

ebook (pdf)

pl don't read this book.....!

either read this book

NOW

or make sure you don't touch it

20 years down the line

after you fail in all attempts

to be a millionaire!!!

because if you touch it then

you might be tempted to shoot yourself

for having ignored it

20 years ago

when you had

time on your side!

--

"the secrets of the millionaire mind"

by T.Harv Eker

(superb translation in our national language Hindi also available)