Advice to a newbie

caplan8293 · Apr 22, 2004

Quote from Oldtimer:

and Trading in the Zone by Dr. Ari Kiev.

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Didn't Mark Douglas write Trading in the Zone?

Oldtimer · Apr 22, 2004

They BOTH wrote books of that title. Douglas wrote another book I would put on the second-round list, which is The Disciplined Trader.

OT

caplan8293 · Apr 22, 2004

Quote from Oldtimer:

They BOTH wrote books of that title. Douglas wrote another book I would put on the second-round list, which is The Disciplined Trader.

OT

But you like Kiev's better? Why?

Thanks

Oldtimer · Apr 22, 2004

It's not necessarily a matter of liking one book more than another. I just like Kiev's book as one of the first to be read because it gets more deeply into the psychology than does Douglas.

I really believe that a beginning trader should almost isolate himself in self-analysis to determine where his past successes and failures have come from, find predictors for success and failure and actively work that knowledge into his development as a trader.

Elder and then Kiev.

And THEN douglas.

patdyess · Apr 22, 2004

"Trading for a Living" and others by Dr. Elder

BSAM · Apr 22, 2004

Quote from Oldtimer:

I always recommend two books to beginners:

Trading for a Living by Dr. Alexander Elder

and Trading in the Zone by Dr. Ari Kiev.

OT

With all due respect, Oldtimer, I think Dr. Elder's book may be too much for a beginner. I'm not sure what this guy may or may not already be aware of, but if he is a raw beginner, he may be in need of some books with more basic instruction.

qwiktrade · Apr 22, 2004

Quote from BSAM:

With all due respect, Oldtimer, I think Dr. Elder's book may be too much for a beginner.

probably true.. it is one of the first books (maybe the 6th or 7th) i read though.. alot of the old beginner daytrader books are obsolete because of changes in the markets.. no more fractions, selectnet, pdt etc etc..

-qwik

Oldtimer · Apr 22, 2004

Even tho the book is outdated in the ways you mentioned, the underlying principles still hold true.

Grob109 · Apr 22, 2004

He plans to read his selections too quickly in my opinion.

qwiktrade · Apr 23, 2004

Quote from Oldtimer:

Even tho the book is outdated in the ways you mentioned, the underlying principles still hold true.

yes, very true..

Quote from Spitfire:

what, did you imagine there are special trading books for clever (?) people.

well.. there is "Daytrading for Dummies".. and "The Complete Idiots guide to Daytrading like a Pro".. perhaps he just assumed that there would also be "Daytrading with power using your MBA" or "Everything you always wanted to know about Daytrading but didnt learn while completing your MBA".. also dont forget "Daytrading etiquette for those with class, and an MBA".. perfectly logical..

-qwik