Merlin's Book List

Hey Everyone,

I'm very new to the trading market, and I've started a demo account in the forex market trying to get my feet wet. Success has been good in the first month +45%, and as of September im +3.5%. Up to this point though, I have been trading basically on feel with the help of some indicators and trading systems that I've tried out on my demo acct. In one of the forums, Merlin had a book list that he was giving as a prize, I went to the library(had to get a card....shhheesshhh, what a project) to see what was available. None were, shocker. Anyway my question is this: What order of these books should I start with?...I have all on order, but in the spirit of saving time, I was wondering what everone thought of this.

A little history about me. In college I was a pure math major for 3 years and should get a good grasp of the technical side of trading. My Louisiana buddy showed me the forex market (he's been in it a year and a half now) because he's known me for 10 years and thinks that I would shine (we'll see).

That's all for now, hope to make friends on this forum..

Chase


http://www.forexfactory.com/index.php?page=contest

(sorry should have pasted this link for convienence)

Hi Mchase and welcome!

Forex Factory is a wonderful place to learn and talk forex, there are many insightful individuals here in particular James16, Merlin, MuddBuddha and Fijitrader. I suggest you do a search of their names and read up on what they have to say about the markets.

Please make note of Jame16's Chart thread as well as the Chart Factory Forum where Isotonic and others have posted many interesting charts along with their analysis.

As for reading material please refer to the "Just need a direction for trading" thread where you will find a link of ebooks on many of the books Merlin lists.

Good luck and happy trading.

Drew

hi mchase2539!

if you havent read any of the books on the list, id recommend you start with the New Market Wizards. this book will tell if you are a trader or not. then read Reminicences of a Stock Operator. this book will help you understand how hard trading is, and will offer moral support. then read Van Tharps book. his book will give the practical basics on the tools of a trader.

btw, forget the book store, just hit up amazon! free shipping!

have fun man, i bet you wont be able to put these three books down!

There is a very good chance that at least 2 of the three books mentioned above can be borrowed from the public library for free.

Lou

I already have gone to my public library, and every book was in the system and are now on order for me.

Thanks for the advice on the order, Merlin, it will be heeded.


Chase

glad i could help man have fun!

could someone please send me any article they have on hidden divergence.i saw an article by barabra star but forgot to save it.now cant find it.thanks

is it really useful?
to me hidden divergence is a retrace in the main trend.it just shows up as a divergeence on the oscillator.please correct me if i am wrong.thanks

Hidden Divergence:

When there is a retrace not all the way back to the start of the move, though the ocsilator makes a move to a greater extreme that it showed at the start of the move. You should combine this with another indicator. I only take Hidden Divergence entries of the RSI is at least over 60 for short or under 40 for long.

Send your email and I will send you a article on the subject.

Here is a good intro on Hidden Divergence

interesting story and made me become passionate to keep fighting.