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I always say its better to ask questions than to keep silent and really screw things up. I would just like to suggest do not even try to trade with real money till you have read about 5-10 of the best trading books suggested here on this site and have watched all the recorded webinars on Big Mike's forum here . The wealth of information you will gain from that kind of experience will help you truly focus on what you have to do to make trading for you work.
Thanks for your advise! Where would this unbias list be of the top 10 books in trading? Are these books now outdated or does core strategy and philosophy not change? Thanks again..
I would aim for 20-30 books. Some of the best books I have read aren't the best sellers. The idea is just to read about trading. Some books will be bad, some good. Some will give terrible advice, some will give excellent advice. But if you read without judging the book, you'll soon figure out 1) what is true in trading, and what is fiction, and 2) what kind of trading you might like. You'll also learn a ton along the way.
I you have a good local library system, get all the trading books you can from it. That is a cheap education.
Then you can always buy the books that really speak to you.
A lot (too many) of books focus on some older aspects of trading, that maybe worked 10-20 years ago, but less so today.
So personally, if you are reading a book, I would encourage you to make sure it isn't about a methodology. Hint: no charts. Better to read about risk, psychology, crowd behavior, auction theory, but not about some specific kind of method.
I also would have to strongly encourage you to watch the webinars on nexusfi.com (formerly BMT). I cannot think of a better source of useful information, and there are something like 200 of them.
I'm creating this thread with the purpose of a 'catch all' for any trading related question that futures.io (formerly BMT) members want to ask, but don't want to create a new thread for -- or find an existing thread to reply to.
I've …
Is probably the single most valuable thread on the entire site when read by a new trader. The idea is to read what everyone else is doing and then try to understand that is likely to fail, and try to skip the same mistakes. Understanding, a lot of mistakes you simply must experience for yourself -- but hopefully the thread will shorten your learning curve.