Newbie Island : advice & learning

hi :slight_smile:
what books do you suggest for learning Forex strategies and financial markets … and algorithmes …algotrading
what do you think aboutalgotrading101 and Quantopian ?

These are the books that helped me, and enabled me to trade profitably …

Profitability & Systematic Trading (Michael Harris)

[I]Trade Your Way to Financial Freedom[/I] (Van K. Tharp) - an outstanding starting-point

[I]Beyond Technical Analysis[/I] (Tushar S. Chande)

[I]Understanding Price Action[/I] (Bob Volman)

[I]Naked Forex: High-Probability Techniques for Trading Without Indicators[/I] (Alex Nekritin & Walter Peters)

[I]Daytrading[/I] (Joe Ross)

[I]Trading The Ross Hook[/I] (Joe Ross)

[I]A Mathematician Plays The Market[/I] (John Allen Paulos)

[I]Fooled By Randomness[/I] (Nassim Nicholas Taleb - [B][U]really[/U][/B] worthwhile!)

[I]Why People Believe Weird Things[/I] (Michael Shermer) - this book and Taleb’s, just above, are hugely helpful - albeit indirectly - for “understanding what’s going on in forums”!

Trading Price Action Trends - Technical Analysis of Price Charts Bar by Bar for the Serious Trader (Al Brooks)
[I]
Trading Price Action Trading Ranges - Technical Analysis of Price Charts Bar by Bar for the Serious Trader[/I] (Al Brooks)
[I]
Trading Price Action Reversals - Technical Analysis of Price Charts Bar by Bar for the Serious Trader[/I] (Al Brooks)

These three books by Al Brooks are not well-written and not particularly easy to read, and probably not for complete beginners; their content, however, is outstanding.

One thing’s for sure: it isn’t quick or easy. I don’t even agree with the people who say “Anyone can do it” (some people have a really deep-seated blind spot with anything mathematical, and they probably “just can’t”). But - by many people - it can be done. Good luck!

I recommend avoiding it like the plague.

It’s undoubtedly of some value to financial institutions with trading-floors and research departments, but to put it mildly, it’s a [U]very[/U] questionable direction indeed for a retail trader; in practice it’s typically just a [U]huge[/U] distraction from learning what you really need to understand, to have a realistic chance of eventually making steady profits from a field of endeavour in which only a tiny proportion of the participants ever manage to do that.

Try

  1. Technical Trading Systems for Commodities & stocks (Charles Patel)
  2. The Japanese Chart of Charts (SEIKI SHIMIZU translated by Gregory S. Nicholson)
  3. Trading in choppy markets (Robert M. Barnes)

Trading in the zone M. Douglas is a must read IMO.