Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Seems like nearly all of what one finds is the underbelly of trading books. When it comes to objective and agenda-less information, the CME site and sites like it provide tons of information, and all free. Granted they're tooting their individual horns, but at least they know what they're doing. Most of the stuff I've seen is astonishingly misleading (Grow Rich In Only Minutes A Day!).
There are also the works produced by the pioneers: Wyckoff, Livermore, Gann, Elliott, deVilliers, Schabacker, Hamilton, etc. But few people want to read them, considering them to be old-fashioned. Well . . .
I actually dug Reminiscences of a Stock Operator. Don't know that it really made me any better, but I think it conveys, to an extent, the mindset you have to take on to be successful.
I quite like Alexander Elder's books in terms of how he suggests psychological outlook, and how he explains money management and success. I start to tune out when he talks about indicators, however. He is very big on indicators, I am more interested in price action.
1. Try not to be automatically intolerant of (trading) ideas and people with belief systems you really don't understand. Gems of innovation are usually embedded in the fringe.
2. Recognize signs of privilege in yourself (and others) and guard against how they affect your ability to empathize. Empathy can be an incredibly useful tool for your trading.
3. There is often way more going on behind the scenes and under your nose than what you currently observe, no matter how tuned in you think you are. Keep digging b/c there is always more to learn.
4. Continue playing the cards you're dealt. It's only a matter of time before the dealer gives you a winning hand. Even better, experience will teach you how to win with a hand you once thought was a loser.
5. It's easier to run with some wind at your back, and that wind has already been blowing a distance before it ever reaches you.