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My book list...suggestions please.

  • #1
  • First Post: Mar 26, 2006 12:22pm Mar 26, 2006 12:22pm
Hi all,

I'm new to Forex and have absolutely no knowledge of trading. I'm trying to choose a few books that will help me with the basics and get me off to a good start. Please take a look at my list and let me know what you think. Are there any books you would add or not bother with?

High Probability trading
by Marcel Link

Trade Your Way to Financial Freedom
by Van K. Tharp

The New Market Wizards : Conversations with America's Top Traders
by Jack D. Schwager

Getting Started in Currency Trading : Winning in Todays Hottest Marketplace
by, Michael Archer and Jim Bickford



I've already ordered:

The Currency Trader's Handbook
by Rob Booker



So, let me know what you think. Also, please share any suggestions for further reading for when I'm done with these.

So far I'm thinking of:

Day Trading the Currency Market : Technical and Fundamental Strategies To Profit from Market Swings
by Kathy Lien


Thanks,

--Liz
  • #2
  • Mar 26, 2006 4:59pm Mar 26, 2006 4:59pm
Quoting lizwinz
Hi all,

I'm new to Forex and have absolutely no knowledge of trading. I'm trying to choose a few books that will help me with the basics and get me off to a good start. Please take a look at my list and let me know what you think. Are there any books you would add or not bother with?

High Probability trading
by Marcel Link

Trade Your Way to Financial Freedom
by Van K. Tharp

The New Market Wizards : Conversations with America's Top Traders
by Jack D. Schwager

Getting Started in Currency Trading : Winning in Todays Hottest Marketplace
by, Michael Archer and Jim Bickford

I've already ordered:

The Currency Trader's Handbook
by Rob Booker

So, let me know what you think. Also, please share any suggestions for further reading for when I'm done with these.

So far I'm thinking of:

Day Trading the Currency Market : Technical and Fundamental Strategies To Profit from Market Swings
by Kathy Lien

Thanks,

--Liz
Great List of books.. As for the sequence, may I suggest you go with "The New Market Wizards" first...

There are parts of it that I wasn't able to relate so I just breezed through them.. Most specially if you haven't done any trading before, relating was very hard for me...

But if you study and demo trade enough, you'll be able to relate to the books eventually.

When demoing, I suggest you try a freely available system.. Even though it won't make you money, you'll be able to get the familiars of SYSTEM trading...

So in my opinion, it would be better to demo trade a freely available systems before trying to build your systems.. By trading other systems (even if they prove to be unprofitable), you'll still be able to be familiar with the ins and outs of SYSTEM trading... So for a great system to test, may I suggest Vegas' 4H Tunnel or VWB... Which is availabe here:
http://www.forexfactory.com/forexfor...ead.php?t=4365

As for further reading, I suggest the book "Trading In the Zone" by Mark Douglas.. If I may suggest again, read it after reading "The New Market Wizards"...

I still haven't finished Reminiscenses of a Stock Operator since I think I have enough reading to digest and practice yet.. So you may want to check it out too for further reading...

Hope this helps,
East
  • #3
  • Mar 26, 2006 8:26pm Mar 26, 2006 8:26pm
If you live in the USA you can get more than half of the number listed (the top half of your list) including Wizards and Zone from the library for FREE !.

My small town library can access books from public libraries and university and business school libraries from all over the US.

Saves you lots of $$$ for trading. If you read a must have... then get it.

Lou
  • #4
  • Mar 26, 2006 10:48pm Mar 26, 2006 10:48pm
Here is a new book I just oredered looks as wacked as the market is by the Grandfather of fractal geometry as related to the markets.

The (Mis)Behavior of Markets
Benoit B. Mandelbrot

should be interesting

and I gotta say Kathy Lein has a bunch of stuff that is useful in her new book
I always watch the market at 7 am EST now that is where it really moves!
  • #5
  • Mar 27, 2006 12:30pm Mar 27, 2006 12:30pm
Thanks everyone for the book suggestions and advice

East, I see what you mean about using a system when demo trading. I've had a demo account for about a week now and did three trades just to get an idea how it works. I didn't want to play with it anymore than that because I want to try to treat it like "real" money.

I was going to wait to demo until I had figured out a system for myself but using a free system to practice makes so much sense now that you mention it. I think doing that will help me absorb more from studying and maybe make it easier for me to put together my own system eventually. I'm definitely going to check out the ones you suggested and try to put them to use.

Thanks to all for the help,



--Liz
  • #6
  • Mar 27, 2006 3:58pm Mar 27, 2006 3:58pm
I just finished Kathy Lien's new book, "Daytrading the Currency Market." I highly recommend reading before you even open up a demo account. I like the technical strategies section not just because they're simple, but also because Kathy goes into the other factors of why they work, like order flow and market psychology. My favorite part of the book is definitely the section where she talks about her trading plan. Every new trader should read this section at least ten times!! Great book!!
  • #7
  • Mar 28, 2006 7:55am Mar 28, 2006 7:55am
Martin Pring on Price Patterns is one of the most usefull books I have.

Reminisences of a Stock Operator should be required reading, but not right away. After reading all of the above, you should take a look at it.
  • #8
  • Mar 28, 2006 10:00am Mar 28, 2006 10:00am
A good place to start is your public library. There is no sense in paying for a book you can checkout for free until your sure it's the one for you. I found all of these authors at my library. Remember there is a lot of money in this field so the books are highly priced. I later found a lot of useful items on sale at Trader'slibrary.com. They will ship for free, However, they use USPS cost cutter shipping and it will take 2 to 3 weeks to recieve your shipment.

Martin Pring's - "Introduction to technical Analysis" ( comes with a DVD)
Cliff Droke's - "Moving Averages"
Steve Nison - (Anything by him is worth a look, my library has quite a few)
Stephen Biglow - ( same thing as Pring)
Alexander Elder - "Trading for a Living" ( Very useful with the mental outlook of trading. My Library had the audio and printed book available)

Best of trading to you

RonT
  • #9
  • Last Post: Mar 28, 2006 7:38pm Mar 28, 2006 7:38pm
Quoting lizwinz
Hi all,

I'm new to Forex and have absolutely no knowledge of trading. I'm trying to choose a few books that will help me with the basics and get me off to a good start. Please take a look at my list and let me know what you think. Are there any books you would add or not bother with?

High Probability trading
by Marcel Link

Trade Your Way to Financial Freedom
by Van K. Tharp

The New Market Wizards : Conversations with America's Top Traders
by Jack D. Schwager

Getting Started in Currency Trading : Winning in Todays Hottest Marketplace
by, Michael Archer and Jim Bickford



I've already ordered:

The Currency Trader's Handbook
by Rob Booker



So, let me know what you think. Also, please share any suggestions for further reading for when I'm done with these.

So far I'm thinking of:

Day Trading the Currency Market : Technical and Fundamental Strategies To Profit from Market Swings
by Kathy Lien


Thanks,

--Liz
is those books workable when you perform trading? i've never read any financial books, i just learned some simple terminologies from trading platform. and i think there is but only one principle in fxtrading: defect your greed.
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