Good Literature for a beginner?

What were the other two?

thanks clint for the list … especially for
"John Murphy: Technical Analysis of the Financial Market"

can you guys suggest some more books on “pure technical analysis”

If you have completed the school here on Babypips, you already have a pretty good basic understanding of FOREX. I would recommend delving into the psychological aspect more deeply as it is most traders achilles heel. Alexander Elder’s’ 'Trading for a Living is an excellent place to start. When you’ve finished that Mark Douglas’s books are also very good.

Good luck!

A couple of days ago, I heard on the news that [B]Walmart[/B] is taking on the big online book-sellers in a price war.
I decided to browse the Walmart site — Search results for investing - Walmart — looking for books on trading and economics.
Here’s what I found.

These books are listed in no particular order — just the order in which I found them on the website.

This is not a list of “recommended” books, although you will see some familiar titles here.

And I don’t know how these prices compare to Amazon or Barnes and Noble, the book-sellers Walmart is supposedly undercutting.

This list is simply FYI:

[B]Technical Analysis for Dummies[/B]
List Price: $24.99
Our Price: $15.83
You save: $9.16 (37%)
Trade Paper, For Dummies, 2004, ISBN# 0764540440
Author: Rockefeller, Barbara
Format: Paperback


[B]Economics for Dummies[/B]
List Price: $21.99
Our Price: $13.30
You save: $8.69 (40%)
Paperback, For Dummies, 2005, ISBN# 0764557262
Author: Flynn, Sean
Format: Paperback


[B]Reminiscences of a Stock Operator[/B]
List Price: $19.95
Our Price: $12.00
You save: $7.95 (40%)
Paperback, John Wiley & Sons, 2005, ISBN# 0471770884
Author: Lefevre, Edwin
Format: Paperback


[B]Manias, Panics, and Crashes: A History of Financial Crises[/B]
List Price: $19.95
Our Price: $12.00
You save: $7.95 (40%)
Paperback, John Wiley & Sons, 2005, ISBN# 0471467146
Author: Kindleberger, Charles P.
Format: Paperback


[B]Trading for a Living: Psychology, Trading Tactics, Money Management[/B]
List Price: $80.00
Our Price: $48.38
You save: $31.62 (40%)
Hardcover, John Wiley & Sons, 1993, ISBN # 0471592242
Author: Elder, Alexander
Format: Hardcover


[B]Study Guide to Technical Analysis of the Financial Markets[/B]
List Price: $39.95
Our Price: $25.32
You save: $14.63 (37%)
Paperback, New York Institute of Finance, 1999, ISBN # 0735200653
Author: Murphy, John J.
Format: Paperback


[B]Market Wizards: Interviews with Top Traders[/B]
List Price: $17.00
Our Price: $11.91
You save: $5.09 (30%)
Paperback, HarperCollins Publishers, 1993, ISBN # 0887306101
Author: Schwager, Jack D.
Format: Paperback


[B]The New Market Wizards: Conversations with America’s Top Traders[/B]
List Price: $17.99
Our Price: $12.00
You save: $5.99 (33%)
Paperback, HarperCollins Publishers, 1994, ISBN # 0887306675
Author: Schwager, Jack D.
Format: Paperback


[B]Stan Weinstein’s Secrets for Profiting in Bull and Bear Markets[/B]
List Price: $19.95
Our Price: $12.00
You save: $7.95 (40%)
Paperback, Irwin Professional Publishing, 1991, ISBN # 1556236832
Author: Weinstein, Stan
Format: Paperback


[B]Day Trading the Currency Market: Technical and Fundamental Strategies to Profit from Market Swings[/B]
List Price: $70.00
Our Price: $42.34
You save: $27.66 (40%)
Hardcover, John Wiley & Sons Inc, 2005, ISBN# 0471717533
Author: Lien, Kathy
Format: Hardcover


[B]Mastering the Trade: Proven Techniques for Profiting from Intraday and Swing Trading Setups[/B]
List Price: $59.95
Our Price: $41.43
You save: $18.52 (31%)
Hardcover, McGraw-Hill, 2005, ISBN# 0071459588
Author: Carter, John F.
Format: Hardcover


[B]The Wealth of Nations[/B]
List Price: $7.99
Our Price: $6.79
You save: $1.20 (15%)
Mass Market Paperbound, Bantam Books, 2003, ISBN# 0553585975
Author: Smith, Adam
Format: Paperback


[B]Capitalism and Freedom: Fortieth Anniversary Edition[/B]
List Price: $16.00
Our Price: $9.60
You save: $6.40 (40%)
Paperback, University of Chicago Press, 2002, ISBN # 0226264211
Author: Friedman, Milton
Format: Paperback


[B]Use the News: How to Separate the Noise from the Investment Nuggets and Make Money in Any Economy[/B]
List Price: $13.95
Our Price: $11.72
You save: $2.23 (16%)
Paperback, HarperBusiness, 2002, ISBN # 0066620872
Author: Bartiromo, Maria
Format: Paperback


[B]The Commanding Heights[/B]
List Price: $16.00
Our Price: $11.21
You save: $4.79 (30%)
Paperback, Touchstone Books, 2002, ISBN # 068483569X
Author: Yergin, Daniel
Format: Paperback


[B]Tools and Tactics for the Master Daytrader: Battle-Tested Techniques for Day, Swing, and Position Traders[/B]
List Price: $55.00
Our Price: $33.26
You save: $21.74 (40%)
Hardcover, McGraw-Hill Companies, 2000, ISBN # 0071360530
Author: Velez, Oliver
Format: Hardcover


[B]Long-Term Secrets to Short-Term Trading[/B]
5 out of 5 Stars
List Price: $85.00
Our Price: $62.05
You save: $22.95 (27%)
Hardcover, John Wiley & Sons, 1999, ISBN # 0471297224
Author: Williams, Larry R.
Format: Hardcover


[B]The Richest Man in Babylon[/B]
List Price: $13.00
Our Price: $10.75
You save: $2.25 (17%)
Paperback, Plume Books, 1989, ISBN # 0452267250
Author: Clason, George S.
Format: Paperback


[B]The Master Swing Trader: Tools and Techniques to Profit from Outstanding Short-Term Trading Opportunities[/B]
List Price: $55.00
Our Price: $36.26
You save: $18.74 (34%)
Hardcover, McGraw-Hill Companies, 2000, ISBN # 0071363092
Author: Farley, Alan S.
Format: Hardcover


[B]The 10 Essentials of Forex Trading: The Rules for Turning Patterns Into Profit[/B]
List Price: $34.95
Our Price: $22.15
You save: $12.80 (37%)
Hardcover, McGraw-Hill Companies, 2007, ISBN# 0071476881
Author: Martinez, Jared F.
Format: Hardcover


[B]Candlestick and Pivot Point Trading Triggers, + CD-ROM: Setups for Stock, Forex, and Futures Markets [With CDROM][/B]
5 out of 5 Stars
List Price: $85.00
Our Price: $59.57
You save: $25.43 (30%)
Hardcover, John Wiley & Sons, 2006, ISBN# 0471980226
Author: Person, John L.
Format: Hardcover


Yes, I also heard news to that effect recently.
Not only do they want to rival Amazon and the like, but also in all their other departments that they (Walmart) have.
I am surprised that they did not start their online department store presence earlier (it has been rather minimal in comparison), - they hope to be the largest online retail department store with the best prices.

Great book! I’m studying this now.

Sweet, another book to add to the list :-}
BTW I just received my copy of Currency Trading for Dummies today, so far I like it!
As for Reminiscences of a Stock Operator I’m almost half way, love it, great book, deffently a reread book.
I have The Zurich Axioms on order.

Clint, i went ahead and did the same search through amazon.com and here are the results using the same order as you.

Economics For Dummies by Sean Masaki Flynn (Paperback - April 8, 2005)
Buy new: $14.95 80 Used & new from $7.99

Technical Analysis for Dummies by Barbara Rockefeller (Paperback - Mar 5, 2004) Buy new: $15.74 61 Used & new from $9.98

Reminiscences of a Stock Operator (Wiley Investment Classics) by Edwin Lefèvre and Roger Lowenstein (Paperback - Jan 17, 2006)
Buy new: $13.57 64 Used & new from $10.39

Manias, Panics, and Crashes: A History of Financial Crises (Wiley Investment Classics) by Charles P. Kindleberger, Robert Aliber, and Robert Solow (Paperback - Oct 4, 2005)
Buy new: $12.97 63 Used & new from $8.00

Trading for a Living: Psychology, Trading Tactics, Money Management by Dr. Alexander Elder (Hardcover - Mar 8, 1993)
Buy new: $50.40 90 Used & new from $28.75

Study Guide to Technical Analysis of the Financial Markets (New York Institute of Finance) by John J. Murphy (Paperback - Jan 1, 1999)
Buy new: $26.37 40 Used & new from $21.33

Market Wizards: Interviews with Top Traders by Jack D. Schwager (Hardcover - Feb 2, 2006) Buy new: $12.21 36 Used & new from $7.54

The New Market Wizards: Conversations with America’s Top Traders by Jack D. Schwager (Hardcover - Sep 15, 2008) Buy new:$13.57
32 Used & new from $10.73

Stan Weinstein’s Secrets For Profiting in Bull and Bear Markets by Stan Weinstein (Paperback - Jan 1, 1988) Buy new: $11.67
60 Used & new from $6.30

Day Trading the Currency Market: Technical and Fundamental Strategies To Profit from Market Swings (Wiley Trading) by Kathy Lien (Hardcover - Dec 2, 2005) 27 Used & new from $54.75

Mastering the Trade: Proven Techniques for Profiting from Intraday and Swing Trading Setups (McGraw-Hill Traders Edge Series) by John F. Carter (Hardcover - Dec 7, 2005) Buy new: $37.77
61 Used & new from $27.77

The Wealth of Nations (Bantam Classics) by Adam Smith and Alan B. Krueger (Mass Market Paperback - Mar 4, 2003) Buy new: $7.99
63 Used & new from $4.78

Capitalism and Freedom: Fortieth Anniversary Edition by Milton Friedman (Paperback - Nov 15, 2002) - Deluxe Edition
Buy new: $9.02 76 Used & new from $7.12

Use the News: How to Separate the Noise from the Investment Nuggets and Make Money in Any Economy by Maria Bartiromo (Paperback - Jun 4, 2002)
Buy new: $12.55 75 Used & new from $0.01

The Commanding Heights : The Battle for the World Economy by Daniel Yergin and Joseph Stanislaw (Paperback - April 2, 2002)
Buy new: $11.87 138 Used & new from $1.82

Tools and Tactics for the Master DayTrader: Battle-Tested Techniques for Day, Swing, and Position Traders by Oliver Velez and Greg Capra (Hardcover - Jun 29, 2000) Buy new: $34.65 47 Used & new from $24.47

Long-Term Secrets to Short-Term Trading by Larry Williams (Hardcover - Mar 11, 1999) Buy new: $72.51 36 Used & new from $44.76

The Richest Man in Babylon by George S. Clason (Paperback - Jun 30, 1989)
Buy new: $11.20 87 Used & new from $2.95

The Master Swing Trader: Tools and Techniques to Profit from Outstanding Short-Term Trading Opportunities by Alan Farley (Hardcover - Dec 13, 2000)
Buy new: $37.77 66 Used & new from $20.48

The 10 Essentials of Forex Trading: The Rules for Turning Trading Patterns Into Profit by Jared Martinez (Hardcover - Jan 8, 2007)
Buy new: $23.07 52 Used & new from $17.00

Candlestick and Pivot Point Trading Triggers + CD-ROM: Setups for Stock, Forex, and Futures Markets by John L. Person (Hardcover - Nov 3, 2006)
Buy new: $54.1049 Used & new from $43.83

Thank very much for this, it looks like a great site.

Really nice and useful books list! Thanks:)

“Phantom Of the Pits…POP” is a gem.

Thx [B]hess[/B] for pointing it out. :slight_smile:

anytime cas :slight_smile:

I am surprised that Currency Trading for Dummies does not have any information on Pivot Points.

I was wondering what some of you thought about this “book”. It does seem to have a a lot of wisdom packed in it, not just about trading.

One thing the POP says is that every trade must be veiwed as a loser until proven correct by the market. Only then do you keep it. Otherwise get out as quickly a possible. I don’t have the years of trading experience to know whether this has the ring of truth to it. Any opinions?

From the book…Phantom Of the Pits…POP…

[U][I]So here is Rule Number one: [/U]

In a losing game such as trading, we shall start against the majority and [B][I]assume we are wrong until proven correct[/I][/B]!
(We do not assume we are correct until proven wrong.)

Positions established [B]must be reduced and removed until or unless the market proves the position correct! [/B]
(We allow the market to verify correct positions.) [/I]

There lies the difference…95% are doing the opposite and [B]don’t[/B] allow the market to verify correct positions.

That kind of behaviour is ego driven…95% don’t want to be proven wrong by the market and have the illusion that they can prove to the market they are right.

Sooner rather than later another aspiring trader belongs to the 95% [B]if[/B] he is unable to modify his behaviour and let the market prove him right or wrong. And [B]act swiftly[/B] when proven wrong by the market…remove his/her positions.

So i drove up to the Moneyshow in Toronto, CA… it wasn’t too bad… but it really wasn’t all that great. the only booth that even pertained to forex trading was MIG out of Switzerland. Everybody else was selling crap… and mostly Canadian crap so it didn’t really pertain to me. But- it was cool to be in a place where people around me actually knew what trading forex was! Even one of our taxi drivers has an account! So funny!

Can anyone recommend books on Fibonacci?

No one has mentioned books on this topic yet.

The only book on this topic that I am aware of is Fibonacci Analysis by Constance Brown, anyone read this?

Thanks
Tom

I am about 1/2 way through it. It is very well written book. I like her approach to the subject. Definitely worth reading if you are interested in the subject.

V

We have those here in Perth too - only they are trading Expos.

Ours are really good, although they major on stocks.
Even so, several booths on forex!!

Still, that was my starting place.
We even had a prostitute go there looking to earn more money!! :smiley: :smiley: :rolleyes:

Thanks for the info Valkryder.
Just looked at some samples, yeah looks good, another on the list.
I often hear people (business/finance media, even some of my brokers reports) referring to their Fibonacci lines.
I’m thinking I might be able to use them with pivot points and Bollinger Bands (which I have my copy of Bollinger on Bollinger Bands ordered directly from Bollingers website, as it was cheaper than I could find in Australia).
Just need to work out which oscillator / momentum I like and can combine with the aforementioned.

Getting ready to go off into the battle between the bulls and the bears…