Hey traders, I'm looking for a good book for newbie traders. Understand that when I say "newbie", I mean NOOOOOBIEEEE, totally green. I read many posts here by experienced traders that say most of what you've read is just rubbish. I'm looking for a book that explains the terminology and market in easy to understand language. I would also like to learn how to read charts. More than some author's rambling explanation of his "method", this would be a book that I could use as reference on a daily basis. Anyone have any ideas on which one or two would come closest to filling my requirements?
Thanks, guys.
D'Wheeze
wheezle, good question. If I could start over I know I could have shortened at least some of the learning process by reading the good stuff ;) I honestly think a great place to start is www.stockcharts.com and their free chart school. Check it out ;) devour it and then...hmm I'll think of something. :)
Thanks G! I'll be looking forward to your book recommendation. :)
Anyone else?
D'Wheeze
hi !
About technical analysis, and just for a start, you could take a look at: «Getting Started on Technical Analysis» from Schwager.
You may also read «Reminescences of a Stock Operator», but you need to feel the market before that ;)
best regards,
Thanks, Ram. LOL, I'm ashamed to admit it, but the first book I ever bought when I got interested was <<RULE THE FREAKIN' MARKETS>> by Michael, "Waxie" Parness, a very light read, indeed. ::)
You all can go ahead and gang-slap me now. I deserve it... :P
D'Wheeze
that is a GREAT start! do not underestimate Waxie...he truly knows his stuff. His technical analyst Michael "Tiny" Saul is a genius too. That is a great book for your trading library.
The hard part for me on recommending books is that nothing is the bible of stocks. If a book has just 1 thing that is useful it may still be worth a read. Some books that I am remembering off the top of my head: (not sure on spellings)
How to make Money in Stocks: William O'neil
Reminescences of a Stock Operator - Edwin Lefevre
Japanese Candlestick Books by - Nison, Morris
The Master Swing Trader - Alan S. Farley
Encylcopedia of Chart Patterns - Thomas N. Bulkowski
Technical Anlaysis of Stocks by John Murphy (i think thats what its called)
How to profit in Bull and Bear markets - Stan Weinstein
Come in to my trading room - Alexander Elder
Trading for a living - Alexander Elder
Reminicences of a stock operator -Edwin Lefevre
Quote from: aussietrader on July 07, 2005, 08:50:34 AM
Come in to my trading room - Alexander Elder
Trading for a living - Alexander Elder
Reminicences of a stock operator -Edwin Lefevre
Hi Aussie !
Alexander Elder, is great because he talks about everything, TA, Pscicology, Fundamentals, Discipline, etc...
I though a bit more on this subject, and I made my TOP-10, and would suggest the following readings in this order:
1- Trading for a living (http://www.amazon.com/exec/obidos/ASIN/0471592242/3stocksonfire-20?creative=327641&camp=14573&link_code=as1) - Alexander Elder
2 - Getting Started in Technical Analysis (http://www.amazon.com/exec/obidos/ASIN/0471295426/3stocksonfire-20?creative=327641&camp=14573&link_code=as1) - Jack D. Schwager
3 - Reminicences of a stock operator (http://www.amazon.com/exec/obidos/ASIN/0471059706/3stocksonfire-20?creative=327641&camp=14573&link_code=as1) -Edwin Lefevre (Sorry EliteG, but this one is a Bible for me ;))
4 - Come in to my trading room (http://www.amazon.com/exec/obidos/ASIN/0471225347/3stocksonfire-20?creative=327641&camp=14573&link_code=as1) - Alexander Elder
5 - Encyclopedia of Chart Patterns (http://www.amazon.com/exec/obidos/ASIN/0471668265/3stocksonfire-20?creative=327641&camp=14573&link_code=as1) - Bulkowski (a study book, dont need to read it straight)
6 - The Discilplined Trader (http://www.amazon.com/exec/obidos/ASIN/0132157578/3stocksonfire-20?creative=327641&camp=14573&link_code=as1) - Mark Douglas
7 - Survive and Profit in Ferocious Markets (The Bear Book) (http://www.amazon.com/exec/obidos/ASIN/0471197181/3stocksonfire-20?creative=327641&camp=14573&link_code=as1) - John Rothchild
8 - Martin Zweig's «Winning on Wallstreet» (http://www.amazon.com/exec/obidos/ASIN/0446672815/3stocksonfire-20?creative=327641&camp=14573&link_code=as1).
9 - The Art of Speculation (http://www.amazon.com/exec/obidos/ASIN/0471181889/3stocksonfire-20?creative=327641&camp=14573&link_code=as1) - Philip L. Carret
10 - Technical Analysis for the Trading Professional - Constance Brown (just to open our mind in TA, not a book to follow straight)
11 - How To Trade in Stocks (http://www.amazon.com/exec/obidos/ASIN/0934380759/3stocksonfire-20?creative=327641&camp=14573&link_code=as1) - Jesse Livermore
Ah I forgot Electronic Day Traders' Secrets by Marc Friedfertig and George West
... and Ramsburg got Mark Douglas ;)
hmm looks like I must read Elder
And don't forget....
3 Stocks on Fire by Ramsburg and Randolph :D :D :D :D :D :D :D :D
Quote from: aussietrader on July 07, 2005, 09:23:50 AM
And don't forget....
3 Stocks on Fire by Ramsburg and Randolph :D :D :D :D :D :D :D :D
;) LOL
Who knows... probably that would be also a good project, to write a book ;)