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Getting Started In Trading - Are Books Useful?
By John | July 29, 2010
When you are first learning about a new topic, reading is a great way to get started. The advantage of reading is that you can learn from what others did right and wrong and how they learned from their experience. It allows you to save time and money that you may have spent yourself. Learning about trading is not different to learning about other topics that you may read about. You have to be careful though, you could spend years just reading and never actually trading. As there are so many books, it is important to know which ones to focus on. I recently asked a number of trading coaches for their advice on the value of books about trading and any that they would recommend.
It is important to remember that trading books cover a large range of subjects. They can include learning about technical analysis, fundamental analysis, money management, risk management, mind management and the list goes on. It can help to plan ahead and think about the books that would be most useful for the stage of learning you are at. As well as books that focus on one particular area, there are also a number of ‘classic’ books that contain advice that is useful regardless of what stage you are at in learning about trading.
Some books about trading have been around for a number of years but remain popular and have become classics. The ideas that are contained in them are still as relevant today as when they were published. Some books that have been mentioned by a number of the trading coaches are - Secrets for Profiting in Bull & Bear Markets, Stan Weinstein, McGraw-Hill, 1988, Trading in the Zone, Mark Douglas, New York Institute of Finance, 2000, Trade Your Way to Financial Freedom (Van Tharp, McGraw Hill 1999), Trading for a Living (Elder, John Wiley 1993). Also, Trade Your Way to Financial Freedom by Dr Van Tharp, Market Wizards by Jack Schwager, “The Disciplined Trader” by Mark Douglas and “Reminiscences of a Stock Operator” by Edwin Lefevre.
For more information about a trading coach go to www.tradingcoachdirectory.com
Topics: Stocks |
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