Technical analysis seems all the rage. I started off with technicals and now moved specifically to price action intra-day trading. However, I would like a deeper grasp of the fundamental factors such as the macro-economic indicators and the economic relations between countries. It’s not a case of changing up my trading style or anything like that. It’s more like trying to understand the bigger picture. Can someone recommend any good books to get started?
P.S. Currently looking into ‘The Secrets Of Economic Indicators’ (Didn’t buy it yet, but tempted)
I think “The Secrets of Economic Indicators” is a good book to have if you you mainly need reference work. I also think that because macro concepts are relatively simple, you can learn all you need by daily observation and analysis work in a journal. I say this because the focus and behavior of the markets in relation to macro data tends to shift as the story changes, so I think you get more education through daily reading and journaling than any book in my opinion. The only other books I would recommend is the Market Wizards series by Jack Schwager. Seeing how market legends processed information is a great help to getting your own framework of processing the information on the right path.
Thanks, I’ll check out the Market Wizards series. I hope I’m on the right track, but right now I’m using Investopedia as my reference. I read up on various market events in their tutorials and the concepts of the market relations then see this in action.
Good- it’s one of those books you’ll have for the rest of your life and will constantly reference.
My advice, get a highlighter and sticky notes.
Anytime you come across something which makes sense to you, note the page.
Anytime you come across something you don’t understand, note the page.
It doesn’t matter, read them all and don’t miss Technical Analysis or Market Sense and Nonsense
(which destroys the efficient market hypothesis). Beautiful.
Thanks