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Books, Courses, Forums, Webinars and Other Resources

  • #1
  • First Post: Apr 8, 2012 12:35pm Apr 8, 2012 12:35pm
Hey Guys,

I am a relatively new trader, and I have been browsing through some of the wonderful threads here on FF. There are loads of seasoned traders here who are kind enough to share their strategies and provide general advice to other traders and I am grateful to them.

However, I'm sure we can all agree on the fact that trading is not easy, there is no holy-grail system that will make you money no matter what, trading requires patience, diligence, hard work and most of all I think it requires a constant awareness of market conditions and a willingness to learn from your mistakes as well as your successes.

I have seen a few threads like mine on FF, unfortunately none of them have a serious participation rate and I am creating this one with the hope that it will be different.

All of us have amassed our knowledge using various resources, some may have attended courses, others use websites like babypips and a majority have been inspired by books.

I would like us to use this thread to share the resources that we use on a day-to-day basis as well as resources that we have used to start off our trading careers. I think it will be a good place for seasoned traders to share their ideas on which books to buy and which ones to leave out, there are hundreds of books on trading out there and I'm sure we don't want to waste our time poring through page after page of information, we'd rather trade.

I look forward to your participation,
Cheers
Abi
An investment in knowledge pays the best interest - Ben Franklin
  • #2
  • Apr 8, 2012 2:34pm Apr 8, 2012 2:34pm
Well let me say that I'm not a profitable trader yet. Buy although I joined the factory recently, I've been around for some time...I'm talking like 7 years now, so You can imagine I've done my share of reading.

Number one book on my list is "Trading & Exchanges" by Larry Harris. You don't know market microstructure until you read this book. Once You really understand what the market is and how it works You start thinking about trading on a totally different level. I don't know where you are now in your trading career, maybe You already know all this stuff but anyway You can't go wrong with this book.

Second one on my list is "Order Flow Trading For Fun And Profit". I asume that You know who Darkstar is. After You read this book You'll realize why and how You are losing, and hopefully You'll be able to come up with a trading strategy based on something more than a chart pattern.

I don't want to turn this thread into a book review page so I'll just name a few good titles that come to mind right now:

"Fooled By Randomness" by Nassim Taleb
"The Microstructure Approach to Exchange Rates" By Richard. K Lyons
"Reminiscences Of A Stock Operator"
"The Gambler" By Fiodor Dostoievski

There are also many interesting online papers and essays but I dont have time to search for the links right now.
  • #3
  • Apr 8, 2012 2:52pm Apr 8, 2012 2:52pm
Quoting abi2712
Hey Guys,

I am a relatively new trader, and I have been browsing through some of the wonderful threads here on FF. There are loads of seasoned traders here who are kind enough to share their strategies and provide general advice to other traders and I am grateful to them.

However, I'm sure we can all agree on the fact that trading is not easy, there is no holy-grail system that will make you money no matter what, trading requires patience, diligence, hard work and most of all I think it requires a constant awareness of market conditions and a...
To be quite honest, I never really read much into trading books that attempt to teach techniques. What I find is that those books really generalize the market as their strategies will always work, when in fact this is not the case at all. Markets are constantly changing and you need to be very adaptable. I found in my learning that the best lessons taught came straight from the market.

The only books I find to have any significance would be regarding risk management and psychology. A few of my favorite include "Reminiscence of a Stock Operator", "Zurich Axioms"
  • #4
  • Apr 8, 2012 5:06pm Apr 8, 2012 5:06pm
Quoting calamardo
Well let me say that I'm not a profitable trader yet. Buy although I joined the factory recently, I've been around for some time...I'm talking like 7 years now, so You can imagine I've done my share of reading.

Number one book on my list is "Trading & Exchanges" by Larry Harris. You don't know market microstructure until you read this book. Once You really understand what the market is and how it works You start thinking about trading on a totally different level. I don't know where you are now in your trading career, maybe You already know...
Thank you for your input calamardo, I'll definitely give those books a try. I've read Reminiscences of a Stock Operator, I love the way he looks at the market, it's something we have forgotten, partly due to faster computers and increasingly sophisticated indicators.

Have you read the following, I've heard nothing but good stuff about them:

- Trading In The Zone - Mark Douglas
- Candlestick Course - Steve Nison
- Market Wizards (Interviews With Top Traders)
- Way of The Turtle - Curtis Faith
An investment in knowledge pays the best interest - Ben Franklin
  • #5
  • Apr 8, 2012 5:09pm Apr 8, 2012 5:09pm
Quoting mfoste1
To be quite honest, I never really read much into trading books that attempt to teach techniques. What I find is that those books really generalize the market as their strategies will always work, when in fact this is not the case at all. Markets are constantly changing and you need to be very adaptable. I found in my learning that the best lessons taught came straight from the market.

The only books I find to have any significance would be regarding risk management and psychology. A few of my favorite include "Reminiscence of a Stock Operator",...
Thanks for that mfoste1. Many people say the exact same thing, that only the market can really teach you how to trade. However, I think there has to be someplace where one can learn things like technical analysis, news-based trading, effective money management and lastly trading psychology.

I have heard of a few forex gurus providing courses online where you are promised 'the secrets of making millions' these courses tend to be ridiculously expensive and don't provide a lot of information, they just teach you a few strategies and tell you to try them out on the market, without telling us why and how they work.
An investment in knowledge pays the best interest - Ben Franklin
  • #6
  • Apr 8, 2012 6:29pm Apr 8, 2012 6:29pm
Has anyone a link for "Trading & Exchanges"? Couldn't find a download via Google.
  • #7
  • Apr 8, 2012 7:16pm Apr 8, 2012 7:16pm
Quoting abi2712
Thanks for that mfoste1. Many people say the exact same thing, that only the market can really teach you how to trade. However, I think there has to be someplace where one can learn things like technical analysis, news-based trading, effective money management and lastly trading psychology.

I have heard of a few forex gurus providing courses online where you are promised 'the secrets of making millions' these courses tend to be ridiculously expensive and don't provide a lot of information, they just teach you a few strategies and...
Stay away from the likes of the bolded text. The first thing you should learn in forex is risk management. There are plenty of great forums here for that for free . Alternatively, if you want an outside source, try "Market Wizards" by Jack Schwagger.

Those forex gurus aka. forex failures, are nothing more than failed forex traders who couldn't turn a profit in the market. Else, why would they be bothered teaching noobs their spectacular techniques to make millions? Good saying in FX, if it sounds too good to be true, it is.
  • #8
  • Apr 8, 2012 9:40pm Apr 8, 2012 9:40pm
Quoting mfoste1
The only books I find to have any significance would be regarding risk management and psychology. A few of my favorite include "Reminiscence of a Stock Operator", "Zurich Axioms"
Zurich Axioms gets a +1 from me. IMHO, it's a must-read to reset a trader's brain re: risk taking and risk management.

Hardcore technical and fundamental analysts may find it tough to swallow tho, as it goes against their deeply-ingrained beliefs.
I'm not trying to convince anyone. I'm not in the "convincing" business.
  • #9
  • Apr 9, 2012 2:16am Apr 9, 2012 2:16am
Courses: Not Joined

Forums : http://www.forexfactory.com and http://forums.babypips.com,

Webinars: Not Joined

Other Resources (Blog): http://www.fx-insights.com/
  • #10
  • Apr 9, 2012 2:45am Apr 9, 2012 2:45am
I think it will be useful to use others decisions.

I will be active in your thread and will share my experience with others.

I think a good book can be Technical Analysis of the Financial Markets by John j. Murphy.


Cheers
  • #11
  • Apr 9, 2012 4:56am Apr 9, 2012 4:56am
Hey guys,

Thanks for keeping this alive, I have just got myself a copy of the Zurich Axioms and it's definitely a good read.

On a slightly unrelated note, I have been looking at website www.dailyfx.com and it seems to have some pretty good articles, forums etc some of them written by seasoned traders. Although I am a little worried about its authenticity as it is run by the broker FXCM so maybe they have vested interest.

Their SSI index is a pretty good indicator as well, albeit its only offered to their clients, has anybody had any experience using this indicator or dailyfx itself,

Happy trading
Abi
An investment in knowledge pays the best interest - Ben Franklin
  • #12
  • Apr 9, 2012 5:22am Apr 9, 2012 5:22am
Quoting abi2712
Hey guys,

Thanks for keeping this alive, I have just got myself a copy of the Zurich Axioms and it's definitely a good read.

On a slightly unrelated note, I have been looking at website www.dailyfx.com and it seems to have some pretty good articles, forums etc some of them written by seasoned traders. Although I am a little worried about its authenticity as it is run by the broker FXCM so maybe they have vested interest.

Their SSI index is a pretty good indicator as well, albeit its only offered to their...
SSI is fine for using it at extreme points. If you don't have access, check for David Rodriguez on Twitter, he'll tweet from time to time about the SSI data.
  • #13
  • Apr 9, 2012 7:19am Apr 9, 2012 7:19am
Quoting Forex5050
SSI is fine for using it at extreme points. If you don't have access, check for David Rodriguez on Twitter, he'll tweet from time to time about the SSI data.
Actually I use FXCM as one of my brokers so I have access to their resources, although I find that their spreads are relatively high, not very good for scalping.
An investment in knowledge pays the best interest - Ben Franklin
  • #14
  • Apr 9, 2012 11:58am Apr 9, 2012 11:58am
Quoting abi2712
Actually I use FXCM as one of my brokers so I have access to their resources, although I find that their spreads are relatively high, not very good for scalping.
Sorry for the misunderstanding.

FXCM has fine execution, good customer support and a lot of resources, but yeah, the spreads are too high for intraday traders.

Do you watch the webinars inside DailyFX Plus? They have sometimes some fine webinars (money management/risk management), but talk way too much about indicators in my opinion.
  • #15
  • Apr 10, 2012 5:43am Apr 10, 2012 5:43am
Hi abi2712, I am agree with you for the following statement "there is no holy-grail system that will make you money no matter what, trading requires patience, diligence, hard work". However I believe on "Practice Makes Perfect".
  • #16
  • Apr 10, 2012 6:25am Apr 10, 2012 6:25am
Good Books to Learn Investing and Trading

The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns [Hardcover] by John C. Bogle (Author)

Learn to Earn: A Beginner’s Guide to the Basics of Investing and Business [Hardcover] by Peter Lynch (Author), John Rothchild (Author)

One Up On Wall Street : How To Use What You Already Know To Make Money In The Market [Paperback] by Peter Lynch (Author), John Rothchild (Contributor)

Investing For Dummies [Paperback] by Eric Tyson (Author)

The Neatest Little Guide to Stock Market Investing [Paperback] by Jason Kelly (Author)

Candlestick Charting Explained: Timeless Techniques for Trading Stocks and Futures [Paperback] by Gregory Morris (Author)

The Visual Investor: How to Spot Market Trends [Hardcover] by John J. Murphy (Author)

Intermarket Analysis: Profiting from Global Market Relationships [Hardcover] by John J. Murphy (Author)

High Probability Trading Strategies: Entry to Exit Tactics for the Forex, Futures, and Stock Markets [Hardcover] by Robert C. Miner (Author)

Trading for a Living: Psychology, Trading Tactics, Money Management [Hardcover] by Alexander Elder (Author)
  • #17
  • Apr 10, 2012 7:03am Apr 10, 2012 7:03am
Trading in the zone by Mark Douglas.
This is a very good book and easy to read as well.A MUST for newbies.
I'm still learning the Price Action from James 16 thread.
Have a look at James16. thread.

Ironik
  • #18
  • Apr 10, 2012 10:37am Apr 10, 2012 10:37am
Quoting Forex5050
Sorry for the misunderstanding.

FXCM has fine execution, good customer support and a lot of resources, but yeah, the spreads are too high for intraday traders.

Do you watch the webinars inside DailyFX Plus? They have sometimes some fine webinars (money management/risk management), but talk way too much about indicators in my opinion.
I couldn't agree with you more about the dailyFX Plus videos, the first and second videos are normaly just introductions about the indicator that we can find anywhere on the web, its the 'instructors take' that I particularly enjoy, they offer unique insights sometimes that are not so easily available,

Also, do you attend their live webinars? I watched a few but they tend to get repetitive, but they have the one-to-one session where you can get any specific question answered so thats a good place to get some fresh insight.

Happy tarding
Abi
An investment in knowledge pays the best interest - Ben Franklin
  • #19
  • Apr 10, 2012 10:39am Apr 10, 2012 10:39am
Quoting Tarusmark27
Hi abi2712, I am agree with you for the following statement "there is no holy-grail system that will make you money no matter what, trading requires patience, diligence, hard work". However I believe on "Practice Makes Perfect".
Thumbs up to that Tarusmark27, I think if you spend enough time on the markets, trading becomes second nature . Although forums like FF etc help us learn from other traders similar to ourselves as well as others who are way more experienced, I agree with the person who said 'we must learn from other people's mistakes, after all we can't possibly make all of them ourselves'

Cheers
Abi
An investment in knowledge pays the best interest - Ben Franklin
  • #20
  • Apr 10, 2012 10:41am Apr 10, 2012 10:41am
Katarina, IroniK, thanks for that, I'll definitely check out some of those books and the thread you mentioned.

I'm sure your resources will help newbies like myself gather those pips

Happy trading
Abi
An investment in knowledge pays the best interest - Ben Franklin
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