Hi All!
This is my firs forum post on this website, was looking for some help.
I have begun researching useful books that I want to read before I start trading with real money. These books could range from specific strategies to fundamental analysis (as long as it’s not one of those intro or beginner books, been there done that).
The question is… what books do you guys recommend? There are literally so many, my reading list is up to 9-10, and costing around $30 each… I would like to only focus on the books actually worth the money, and time!
If anyone has read any good strategy books, whether it be a complete strategy or just a framework, or any good books on the market as a whole, please let me know!
I’m sure everyone will tell you to head to the babypips school first if you haven’t already. The school will give you a strong basis to begin with a demo. Demo what you would intend to invest. It’s no use trading a £500k demo acc if you intend to invest £750 when you start.
With regards books, I don’t have much advice other than the best way to learn for me is to try and fail, and this is where the demo acc comes into its own. I’m sure others can recommend books, but depending on how much you’re looking to trade with or have available 300 is a chunk that you will spend out of your initial investment money that might be better in a little live account after you’ve learned the basics and traded demo. There’s loads of free learning material online. You just need to find he right material.
If you’re new to trading, it’s probably best to start with a general view of trading. If you’re new to forex, go with something general on exchange rate trading. Don’t waste time and money on really specific stuff until you know what you need to learn more about. Too many new traders chase specific strategies without establishing a framework in which to operate first.
Yeah learning is very important but it happens that we spend uneven time for what it is good and for what which is not that important, so it become important that we should take care, how much time we should spend in learning.
Noone will offer you a personal strategy that will suit YOU. I advise you to vesit forex library (just google it) and to read the most popular books among newbies (Raghee Horner, Kathy Lien etc). Then visit BabyPips school, try to visit seminars that your broker provides if there are some. Also look for webinars. And after all… Practice on demo and real account!
I believe you’ll make it!
