Trading tutorials

Hi pals! I was wondering are there any decent youtube tutorials for beginners to learn how to trade effectively? Thank you for any ideas and links! :23:

Hi Mika - if you want to learn how to trade safely and successfully, I think you’re [I][U]much, much[/U][/I] better off with some beginners’ textbooks than with online tutorials, overall.

This is why: there’s no “informational quality control”, [I]online[/I]: anyone can publish anything offering advice, especially when (as is the case with many online tutorials) they have some additional services/products to promote. There’s some good information among it, doubtless, but [U]when you don’t yourself have the experience and judgement to identify it confidently[/U], it’s a real lottery, depending on advice from “tutorials”.

In contrast, longstanding, recognised, accredited textbooks published by mainstream, orthodox publishers have (a) stood the test of time and (b) undergone extensive and authoritative peer-review before ever seeing the light of day in the first place. :wink:

Trading is about “getting the odds in your favour”, and so is learning to trade. Choosing to learn from well-established textbooks rather than from tutorials is doing exactly that. Very few beginning traders ever really become successful, and people’s failure to do this is one of the reasons why. There’s a [U]huge[/U] amount of misguided “information” about online, but far less in authoritative textbooks.

So here are three recommendations (out of a huge number I read, when I was starting off), to set the ball rolling …
[I]Trade Your Way to Financial Freedom[/I] - Van K. Tharp
[I]Beyond Technical Analysis[/I] - Tushar S. Chande
[I]Profitability and Systematic Trading[/I] - Michael Harris

Lexys, your avatar is awesome.
Sorry for my impudence:21:

Wow, thank you so much! I’ll try to get these. I actually agree, the published works can be trusted and you can find any crappy stuff on the net… So thank you again :slight_smile:

Lol, I just can’t but agree.

Hi MikaR,

I do agree with lexys about reading books. They are definitely a good way of education. Only one note on that: as lexys said, anyone can post educational videos. Well, the same is true for books! I have read very many forex books and if you have experience on the markets, you will see that many books are not really good quality. In the beginning of your journey you will not see which is good and which is a bad book, but later on you do see a difference. You can also ask yourself: if someone is so great in trading, why does he writes a book about it instead of making money with trading?

ZR

Well, yeah, I can see what you mean: some books (even real, not e-books) can be low-quality. I’ll have to learn to differentiate (I think this comes when you’re a cool experienced guy, not for me yet…) But! Why write books on the topic that you know a lot on? I think it’s understandable. If a person has a lot of experince, at some point he or she will eventually want to share this knowledge. It’s like tell or explode. Some people just like to be listened to, they like to be perceived as gurus or get popular (as writers in this example). Why not?

That’s why I specified [B]longstanding, recognised, accredited textbooks published by [U]mainstream, orthodox[/U] publishers.[/B]

The same [B][U]isn’t[/U][/B] collectively true of them: they have generally undergone extensive and authoritative peer-review before ever seeing the light of day in the first place, and also stood the test of time.

I’m not, of course, claiming that they’re all wonderful or that all you need to do is read a handful of them and you’ll suddenly be an expert - simply that the odds are far more in your favour if you stick to them and avoid online “information”, much of which is nonsense, and little of which has had [I][U]any[/U][/I] “quality control” at all. :wink:

Hi Mikar! Actually, Youtube is full of video-reviews made by traders, but be attentive, often they are made by people who pretend to be traders, but in fact do not know their business, or sometimes seem like a black or white PR. Just a warning:57:

Check this one (Understanding market basics) YouTube

Yeah, I checked a few of them, but I wasn’t sure if they can be relied on. That’s why I was asking for a piece of advice :slight_smile: A link or two would help a lot :slight_smile:

Aw, thank you! That’s what I needed!

I believe I am a pretty good judge of character when it comes to who I trust when taking advice from people wanting to offer their opinion on trading forex. I have come across many people who post videos with hopes of convincing you to use a certain trading platform or other personal gains of their own.

I found about 30 videos linked to someone named Francis Hunt who doesn’t tell any magical secret. He gives you very important do’s and don’ts from experience. You may hear a few mistakes you’ve made yourself that will confirm that this guy knows what he’s talking about. Hope it helps.

apparently I can’t post links but I haven’t posted 5 times. Weird. Look him up on YouTube.

Thank you! Yep, I’ve found him. The videos seem to be quite serious. Thank you again!

Hey, M, I could not disagree more strongly with lexys, and its recommendations, Tharp is probabilities, and money management, its ok, but in reality, a traders biggest struggle is with emotions. I know a trader that uses Two Moving Averages, and trades 2-3 yards a month, their greatest asset is their emotional control.

This point of lack of emotional stability is best illustrated by people on boards who get offended by Sum Dum Gai, like me, joking, being arrogant, and a general curmudgeon. So, in general, it is best to start there, learn as much as you can about the psychology of trading. Then learn about general indicators. Also please take time to understand how “RETAIL” Spot Currency trading works, and how your broker works.

So now some book recommendations, Dr. Elder, by the way is highly offensive to sensitive people, but he is 100% right in his estimation of human nature.

#1 Trading Systems and Methods (5th edition) Kaufman

#2 Trading for a Living: Psychology, Trading Tactics, Money Management (Elder, really offensive)

#3 The New Trading for a Living: Psychology, Discipline, Trading Tools and Systems, Risk Control, Trade Management. (Elder, Less Offensive)

#4 Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude
(Douglas)

So have an enjoyable journey

The Ever Wishing Well VIPER

Aww, thank you so much for so many reading ideas, Viper!
I appreciate your different viewpoint, that’s what I need here - a variety of ideas to absorb :slight_smile: