DislikedDear Mr. Ryuryu and Mr. RickM, Is there any books you would recommend reading regarding (volume) trading? Thank you in advance. MihajlouIgnored
I have read a lot of books, but better not to waste time for them. Or use youtube 2x to listen them. As I have found books about trading are full of same bullshit like you can find on every broker website: stochastic and RSI shows oversold, moving average is lagging, risk-reward ratio nonsese, stop-loss mantra and so on. They are all equal. Zero knowledge, 90% lie.
So I can't suggest any book to read. I suggest these 3 things to study:
1. Forget all the forex fairy tales
2. Study the difference between market and limit orders (market maker, market taker). And how stop loss works.
3. Study how margin (leverage) calculated.
Example of forex fairy tales:
1. Price (traders) "respect" EMA200 - bullshit. EMA200 is moving average with 200 length. Price will ALWAYS hit and cross it. Price hit and cross it not because some "respect" it, but because it is average.
2. RSI shows oversold and overbought areas - bullshit. There are no volume data in its formula. And it is oscillator. So it is double lie that is works like they say. Broken watch can show correct time twice a day. Same as RSI can show oversold that way too.
3. Always use stop loss - bullshit. It depends on trading style, and many other conditions.
But may be I'm wrong and there is a good book around. Will be happy to read it then.