Further Education

[Talweg]

Good Day to all BP’ers, after the first reading of the BP school and some other research I am looking to continue my education with some qualified reading.I have identified the following books as being worthwhile, before i splash the bucks/cash what is your opinion of them ? :-

Bird Watching In Lion Country ($60)
Trading in the Zone (GBP 24)
Mastering The trade - Carter ($25)
Day Trading & Swing Trading…Kathy Lien ($30)
Market Wizards…Jack Schwager ($20)

Also as general quetions I think I know the answer but why do brokers appear not to trade the Yuan and the rupee when their respective economies are huge ?
I was also puzzled in my study to see that not always does an open on a candle start at the close of its predessesor…why? , Is this slippage ?

I look forward to your expertise…

[Clint]

Good Day to all BP’ers, after the first reading of the BP school and some other research I am looking to continue my education with some qualified reading.I have identified the following books as being worthwhile, before i splash the bucks/cash what is your opinion of them ? :-

Bird Watching In Lion Country ($60) — Read it, didn’t like it.
Trading in the Zone (GBP 24) — Read it and recommend it.
Mastering The trade - Carter ($25) — Haven’t read it.
Day Trading & Swing Trading…Kathy Lien ($30) — Haven’t read this one, but have read other books by Kathy Lien and her partner Boris Schlossberg, and generally recommend both of these authors.
Market Wizards…Jack Schwager ($20) — Haven’t read it.

I would add to this list, Trading for a Living, by Dr. Alexander Elder.

Also as general quetions I think I know the answer but why do brokers appear not to trade the Yuan and the rupee when their respective economies are huge ?

Yes, their economies are huge (China 7 Trillion USD, third largest in the world; and India 3 Trillion USD, fifth largest in the world). But, the Indian rupee is only the 19th most actively traded currency in the world (at 0.7% of worldwide currency transactions), and the Chinese renminbi is the 20th most actively traded currency (at 0.5% of worldwide currency transactions). Compare this to the US dollar at 86% of currency transactions, and you can see the relative insignificance of the rupee and the renminbi (or yuan).

I was also puzzled in my study to see that not always does an open on a candle start at the close of its predessesor…why? , Is this slippage ?

This is a very rare occurrence. Can you show a specific example?

I look forward to your expertise…

Good post! Keep them coming.

Clint

[Me2995]

I would recommend “Come into My Trading Room” by Dr. Alexander Elder, instead of Trading for a Living.

Trading for a living goes into too much detail about all the different indicators (which you can find anywhere for free), while Come Into My Trading Room is more about the psychology and trading itself.

[mastergunner99]

Do not forget the library. Generally before I purchase a book, I check it out of the library and read it. If it’s of value, I’ll end up purchasing the book to keep down the road if I ever need to reference it.

I must say, of the books I’ve read, I haven’t been too impressed. However, they were more about creating systems than the actual psychology of trading. Down the road, I do think that is where I would like to increase my studies.