"The time to act is when others show signs of tire." --W.D. Gann
- #5
- Nov 17, 2006 1:00am Nov 17, 2006 1:00am
- Joined May 2005 | Status: Trader | 1,494 Posts
In trading, there is no bullshit. You either make money or you don't.
- #8
- Nov 17, 2006 1:47am Nov 17, 2006 1:47am
- Joined Feb 2006 | Status: 'Try-hard' extraordinaire... | 2,151 Posts
... I actually would rather curl up in a nice fluffy chair with a cup of hot chocolate and a good book than read the same info on a computer screen. For me there is still something familiar and comforting about reading the written word on paper.
: ) Thom
It's just so much easier to flick back a page to reference something. And you don't need high speed broadband to continue reading the next page before forgetting the last.
As far as the thread question goes. I've done alright using the 'net, but I'm pretty keen to get "Trading in the Zone" since every second bugger here keeps recommending it. LOL
Bundy's status today: "Waiting..." 
- #10
- Nov 17, 2006 3:26am Nov 17, 2006 3:26am
- | Joined Feb 2006 | Status: adjust your sails to the wind | 1,354 Posts
I have read a lot of text books about macroeconics and currency trading by the banks in the old days via phone and "wire/cable". interesting read. And its good to know the theory behind the markets.
of course it would be advisable to read the magazines too.. like the economist and alike. on the internet 90% is crap and self praising.
PS - anybody who isn't reading the text books, articles etc and is just looking for the easy pip by reading and trying countless systems posted here won't be a trader for long, in my humble opinion. there are some that can't even read a thread from start to end.
of course it would be advisable to read the magazines too.. like the economist and alike. on the internet 90% is crap and self praising.
PS - anybody who isn't reading the text books, articles etc and is just looking for the easy pip by reading and trying countless systems posted here won't be a trader for long, in my humble opinion. there are some that can't even read a thread from start to end.
- #12
- Nov 17, 2006 3:45pm Nov 17, 2006 3:45pm
- Joined Jan 2005 | Status: Keep Learning | 1,180 Posts
I read text book to get fundamental right. why ? when news erupt, you need to know how people will react instantly. That is fundamental. If you "guess
" wrongly , you cannot be trading. Traders are good because they know how the marke will react. I also read trading book to absorb their theory and method. You just can't rely on everyone in FF because you don't know who are the actual winners. I am newbie to Forex and winner in equity.
Everyday, i am surprise at how smart people are out there.
Thanks,
Nader
I have read a lot of text books about macroeconics and currency trading by the banks in the old days via phone and "wire/cable". interesting read. And its good to know the theory behind the markets.
of course it would be advisable to read the magazines too.. like the economist and alike. on the internet 90% is crap and self praising.
PS - anybody who isn't reading the text books, articles etc and is just looking for the easy pip by reading and trying countless systems posted here won't be a trader for long, in my humble opinion. there are some that can't even read a thread from start to end.
If you look on bloomberg, you can find what is the essential that you need to know.
A good calendar like this on FF, bloomberg, a good graph, good indicators (you must find your own configuration), and 'instict', that is what you need to take quick decisions in high volatility moments for instance. Istinct and compasses (indicators) will tell you much more then pages and pages of books, that at the end will only confuse you.
Just my idea. I dont know anything about economy (just as a normal person which trades), I know the essential I need, and i use a lot of instict, and this for me is much more important, because i trade what is happening, not what I think. I think that if you read too much, and put your discretion based on your or others economical analysis, you start to trade what you think and not what is happening.
I had a wise friend which always told me :
Life is easy, we make it complicated
Forex is the same
Sorry about making a third post, but it just occurred to me that anyone seeking simplicity in this market hasn't watched the market itself. Complexity and dynamicism are factors that cannot be discounted, cannot be quantified, and provide the human element in unpredictable, sentiment-driven financial markets. BTW, I found out the hard way that just because there are numbers involved doesn't mean that you can figure it out mathematically...
Its like before taking n airplane you start to think from the night before : 'I will have to wake up at 5 Am...well lets put 2 weakers..you never know..ok..then Ill have to catch the bus to airport at 5:45..wait...if the bus doenst come..i need a telephone for the taxi..wait! maybe is too early for taxi at that time.. maybe I preper my car in case..oh! I must go to put petrol inside. I go now..ok after that, do I have the ticket ? yes, I do. Passport ? yes..wait, maybe is expired . ?? etc etc ...'
Are you going for holidays or where are you going ? You sure you are talking your trip in the right way ?
What I mean is, that if you look forex in a simple way, you will see that the rules are not that many that you think.
