Depends on the book and it’s content really. There are books on strategies, analysis, psychology and trader profiles could still be relevant today as they were then.
There are quite a few threads in the forum you can search and find. Like:
You could also list particular books you think are outdated, to see if other forum users, have alternatives.
If old books are still in publication, it’s because they have worthwhile content that is still relevant today.
The Richest Man in Babylon is a 1926 book by George S.Clason that dispenses financial advice through a collection of parables set 4,000 years ago in ancient Babylon. The book remains in print almost a century after the parables were originally published, and is regarded as a classic of personal financial advice.
I learnt the financial application needed on how to become rich - which seems strange, but I never thought of it that way.
Of course, the old books are still relevant. That’s why you see them in recommendations today as well. The market might have changed to an extent but the way you make use of the market fluctuations (volatility) to make profits is still the same. The price action strategy that we use today is the same that was used several years ago.
I read that book about 25 years ago. Love some of the parables. A man’s wealth is not in the coins he carries in his purse; it is the income he buildeth, the golden stream that continually floweth into his purse and keepeth it always bulging.
I mean stuff like this. I would never think to read such a book and try to even apply it to trading right now. Sounds crazy to mean, but like you say, if the books are still around, there has to be a reason.
Yea that makes sense. What causes the markets to move today could be different, but how you trade or react to the movement probably hasn’t really changed. Thanks!
I mean that’s a great quote. But how do I apply that to trading today? I think maybe that will make more sense in the future after I’ve been trading more.
I have been trading Forex for 15 years of that 30 years (and although I did not know it at the time, actually since late 1988). I still cannot say I have a guaranteed edge to my trading. I hope you learn faster than me.
Well, I do a lot of things that are not Forex related. And have been doing those things since the 1980s. I don’t often need to worry about where and how I am going to eat, or pay the heating bills.
The New Market Wizards. Read a bit of it and the concepts discussed flew over my head at the time. I intend to read it a bit later. But there are well known names among the traders interviewed who are worth reading up on. E.g. One of those interviewed, Linda Raschke, is someone I started reading up on and listening to recently. You can always look up books written by those interviewed and those they recommend.
Linda has her own YT channel and was even featured in a BP interview. She’s absolute balls to the wall.
Trading in the Zone, The Disciplined Trader - I don’t think there are a lot of books written by psychologists/psychiatrists. Still as relevant as they were 2 decades ago. Two other authors who write along the same lines are Alexander Elder & Jared Tendler.
Yes, the old trading books are still relevant. Financial markets and trading never stop changing, and the only way to stay on top of things is by constantly learning, learning the basics, and learning all there is to know about how markets work.