thanks for your recommnedation.
of course i will
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because technology is progressing so fast that we can not imagine it. people also are trying to adapt themselves to that.
Iām not going to argue that people use ChatGPT, but I believe that people here have information to give, which does not necessarily imply that they use ChatGPT all the time.
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Have you read it yourself? if yes, how was it?
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and I believe that technology is progressing so fast we couldnāt stop it but we can adapt ourselves step by step.
I did not read that. i believe that I clould nt read books for trading puposes.
Psssā¦ honestly, in my opinion books Will just mess you Upā¦
There are so many books, and most of them (if not all), are written by Charlatans Who dont even prove they are profitable traders.
On top of that, there are books in so different topics, that you will get nothing from them. For example, why read a book about value investing in stocks, if you want to be a Forex day trader.
There are soo many ways to Make money trading and investing in the financial markets, that at least you should have an idea on What topics you have interest.
All this said, I would stop wasting time on books, and instead invest my time actually trading on a simulator, demo account or small account that you can afford to loose.
You must find a trading Style that suits you, and you must find profitable trading strategies. No book is going to give you that.
Hello Ethan,
Yes, I have. It can be helpful, but it is full of basic and general information. If you are a newbie, it might be really helpful, unless it canāt help you that much.
It explores the psychological aspects of trading such as fear, greed, discipline, and maintaining a proper mindset to make rational trading decisions.
Best Luck/
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Books can be a useful part of your trading education, offering insights into different strategies, market analysis, risk management, and psychology. But, books alone wonāt make you a good trader. Practical experience, learning from losses, understanding market sentiment, and developing your own strategy are equally, if not more, important. So, combine book knowledge with actual trading, continuous learning, and self-reflection for better results. Also, remember that not all advice in every book will work for you. Itās important to test and adapt.
I know what you mean buddy, eventhough i like books, iām not gonna say they are the only way. but i think reading good books is as good as gaining experience.
I always ask people how they stay updated, wondering if they use certain sources, but they always say āno, no, no.ā It made me think, what are their sources? Itās quite interesting to ponder.
I think books can not bring much insight to traders more than experience.
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Letās talk about balance. Both theoretical and experimental knowledge are essential.
trading psychology
How did it go? Did you find it practical? You know, some books can become outdated because strategies are updated as each day passes.
some books can become outdated over time as new strategies and updates emerge each day and in my opinion books are written to advertise author courses.
I am aiming to read a book from each category also - thank you tommor!
I was looking in a book store yesterday and was finding books on ātradingā or investing, which may have focussed on futures, indices, stocks and I felt like the content (or some of it) would be useful for forex, but I was put off by perhaps not a good focus on the forex topic alone. Are these suggested authors known for their Forex writing, or is it genuinly transferabble knowledge between these types of investments?
Forex trading is a different animal to e.g. company trading stocks or shares.
the main practical difference is that stock markets have a closed session overnight and price at the open the next day can therefore gap by any amount. This does not happen in forex. The only true gap in forex is after the weekend. Many price chart patterns and candlestick patterns depend on gaps for their effectiveness - donāt expect these to work really well in forex.
As a general rule, donāt expect TA to work as well as the textbooks say they will on any time-frame less than D1. There is almost no valuable research into intra-day TA.
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Okay so given that - the books you recommended are specifically useful in Forex?
When you say donāt expect TA to work as well as the textbooks intra day ā you are saying all the tools, like candlesticks, wedges, fibonacci, resistance and support, are really only useful at the day to day level?
In that case ā what tools do people use to trade Intra day!?